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Part 1 Part 2

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the decimal on your quiz)
 12/23/2009

Accounts Semi-
Semi-Pro
Course - 1
GM Tool BELT

“Objectives”

After Completing this course, you will be able to:

 Understand the Tools Available to You

 Be Able to Problem Solve with a Customer

 Conduct Yourself Professionally with Customers

Accounts Semi-Pro Course 1 “Tool Belt”

Renewals Department
Tool Belt

Accounts Semi-Pro Course 1 “Tool Belt”

1
 12/23/2009

Tool # 1

1. Payment to Proper Renewal Date. (Full Payment)

Your goal is to get the customer paid ahead to

their next standardized renewal date by making a
proper payment. This payment should include all
fees associated with the renewal payment and a
promise to pay on their next renewal date. This is
always the amount you ask for up front.

OVER THE PHONE

Accounts Semi-Pro Course 1 “Tool Belt”

Tool # 1

1. Payment to Proper Renewal Date. (Full Payment)

SCRIPT - REFERENCE:

“I’m calling about your agreement that has been expired since (1st/15th)
and to see what time today you can come in to get it renewed?”
renewed?
“Your total to renew your agreement is $_____.00 which includes a $5.00
reinstatement charge and $______ in home collections fee/s.” (if
applicable)

OVER THE PHONE

Accounts Semi-Pro Course 1 “Tool Belt”

Tool # 2

2. Payment and Future Appointment.

When the customer cannot make the proper renewal payment it will be
necessary to work out a solution with the customer to assist him/her
towards ownership of the merchandise. In this situation you want to find
out what the customer can pay today. Do not default to half of a
payment.
p y The customer may y have more than you
y think. Once that
amount has been decided, it is time to help the customer complete the
second part of this process, which is obtaining an acceptable appointment
for the remainder of the payment. Remember you have two goals to keep
in mind: the first is to get the customer back on track making timely
renewal payments, and the second is to collect 100% of the money each
customer owes you.

Accounts Semi-Pro Course 1 “Tool Belt”

2
 12/23/2009

Tool # 2

2. Payment and Future Appointment.

NOTE: If the customer has stated that they do not have the funds today,
but will have it on a future date.

SCRIPT REFERENCE:

“Mr / Mrs Customer, what can you pay today?”

If a customer answers that question with ANY amount, have them come to the
store, then work out the future appointment and arrangements for the balance
and help them get back on track.

Accounts Semi-Pro Course 1 “Tool Belt”

Tool # 3

3. Payment and Payment Holiday

If the customer cannot offer an acceptable appointment to

pay the balance of the payment it may be necessary to
remind the customer of the payment holidays included
within the ASP Agreement. If the customer has used the
two payment holidays, it will be necessary to get with your
GM about the possibility of requesting an extension from
the Regional Manager to get the customer back on track. If
this is approved, you will also need to get an updated order
form from the customer.

Accounts Semi-Pro Course 1 “Tool Belt”

Tool # 3

3. Payment and Payment Holiday

Qualifications for a payment holiday:

I may defer one-half of 2 monthly renewal payments for any reason

whatsoever and not be regarded as being in default or subject to a late
fee These deferred renewal payments then will become the last of the
fee.
payments that I must make in order to acquire ownership of the leased
property. To get these deferrals, I must have made 4 Monthly renewal
payments or 8 Semi-Monthly payments in a timely manner. I may obtain
these deferrals only while my agreement is in effect and coming to the
Aaron’s store and signing a payment holiday request form PRIOR to the
renewal date of the payment of which I wish to defer ONE-HALF.

Accounts Semi-Pro Course 1 “Tool Belt”

3
 12/23/2009

Tool # 4

4. Check Dated in Advance or Credit Card

Authorization.

If the customer does not have the means to make a

payment speak with him/her about a credit card
payment,
authorization for a future date. If this does not work, ask
for a check dated in advance that you can hold until a
future date.

Accounts Semi-Pro Course 1 “Tool Belt”

Tool # 4

4. Check Dated in Advance or Credit Card Authorization.

Leadership on the phone (issue a command or ask a question)

SCRIPT: “Mr / Mrs Customer grab your check book, and date
it for the (day they can make a payment). We won’t deposit it
until that day, and will consider that a firm commitment to
keep your agreement renewed!”
OR
“If you can drop off a check today, dated for (that day,) we
will keep your agreement renewed until then, would 3pm or
closer to 6pm be better?”

Accounts Semi-Pro Course 1 “Tool Belt”

Tool # 4

4. Check Dated in Advance or Credit Card Authorization.

SCRIPT: “We accept credit cards. Would you prefer to use

Visa, Master Card, or American Express today?

NOTE: 1st get their commitment to pay with credit card, THEN
make
k arrangements to get valid lid authorization
h i i (in
(i the
h field,
fi ld at
the store or VIP). If in the field, the $10 FV fee applies.

Accounts Semi-Pro Course 1 “Tool Belt”

4
 12/23/2009

Tool #4

Direct the customer to

Vip.shopaarons.com

Accounts Semi-Pro Course 1 “Tool Belt”

Tool # 5

5. Extension

If the customer cannot make any type of payment and has

used up the payment holidays, it might be permissible, based
on the customer’s history, to get approval from your Regional
Manager for an agreement extension.
extension This is not an option if
the customer can no longer afford to make the lease
payment in the future. If this is approved, you will also need
to get an updated order form from the customer.

IN THE STORE

Accounts Semi-Pro Course 1 “Tool Belt”

Tool # 5

5. Extension

NOTE: If a customer cannot commit to any type of

payment.

SCRIPT: “That’s
That s exactly why we need you to come to the
store today. I’m sure we can work something out. IF you
come to the store today, I have a few tools that I think would
help you own the merchandise, and get you back on track.
Can we expect you at 4pm or would closer to 6pm be better?”

IN THE STORE

Accounts Semi-Pro Course 1 “Tool Belt”

5
 12/23/2009

Tool # 6

6. NEW LEASE on Life

We are committed to the acquisition and maintenance of customers at Aaron’s.
Before the ultimate decision of a customer return please keep in mind what our
goal is in getting all customers to ownership. When closing out a lease
agreement there is an option that allows you to New Lease or Value Plan the
customer’s agreement. We are one of the most unique businesses, in the fact
that a customer before leaving and not doing business with us any longer must
speak
p with the GM.

The customer accounts department will be in the position of asking a customer

for the payment when this is passed to the GM if no other option is available to
the customer. The GM should be the only associate offering the New Lease
option. The customer should be 31+ days non renewed when offering this
option.

Accounts Semi-Pro Course 1 “Tool Belt”

Tool # 6

6. NEW LEASE on Life – Qualifications

GM should ask the customer 4 questions when
making this decision.

1. Are you happy with the product?

2 Do you want to become the owner of the
2.
product?
3. Is this a temporary situation or a permanent
situation?
4. Is it an affordability issue?

Accounts Semi-Pro Course 1 “Tool Belt”

Tool # 6

6. NEW LEASE on Life – Qualifications

There are of course a few rules and guidelines to be aware of before we decide
to use this new function.
1. Customers must be present in your stores and sign the new agreements at
time this new transaction and agreement is created.
2. We should collect a payment from the customer at the time the New Lease is
written. If a customer has no ability at this time to make a full payment a semi-
monthlyyp payment
y with an extension and an appointment
pp is acceptable.
p
3. 90 day same as cash will not be available on these new agreements. Normal
EPO calculation will apply.

Customers that are eligible are all customers that are 31+
days non-renewed, willing to keep their product and
continue making payments in the future.
BEFORE LOSING A CUSTOMER
TRY A NEW LEASE ON LIFE!

Accounts Semi-Pro Course 1 “Tool Belt”

6
 12/23/2009

Tool # 7

7. Value Plan Rebuild

If the customer can no longer afford the payment, the

formula for this program is as follows: Remaining term X
1.5 and reduce the lease rate by 25 %.

The value plan can be used on any term agreement

where there are 16 months or less remaining.

Accounts Semi-Pro Course 1 “Tool Belt”

Tool # 8

8. Agreement Reduction

It could be a possibility that the customer has too many items

or even one item that is too expensive on lease. If the
customer can no longer afford the payment, maybe it is time
to reduce their payment through changing the merchandise
th h
they have on llease. FFor example
l if th
they h
have a 65” Mit
Mitsubishi
bi hi
Projection TV on lease maybe we can get them into a 52” or
55” to reduce the payment. If they have several items on
lease, such as a complete home theater system, maybe they
can do without the surround sound system for a while to
reduce their payment.

Accounts Semi-Pro Course 1 “Tool Belt”

Tool # 9

9. Lifetime Reinstatement Program

Once you have exhausted all other efforts and

opportunities with the customer, it may come time
for the General Manager to authorize a return. When
this occurs, we want the customer to know we have
a Lifetime Reinstatement Program. This program
allows the customer to come back anytime and pick
up the agreement where it left off on the same or
like merchandise of the same age and condition.

Keep this message POSITIVE

Accounts Semi-Pro Course 1 “Tool Belt”