Sales Tool: BuyOut and Early Payoff Options
Although SmartPay lets customers get the items they want today and pay over time, some customers do have the option of completing the lease early. There are 2 ways to do this, and both options allow customers to own their items early and save on total fees. You can promote these options as part of your sales pitch to communicate the benefits of using SmartPay.
Customers can complete their lease early at any time. The specific option available depends on when the customer wishes to complete the lease.
The BuyOut Option lets customers own their items within the first 90 days of the lease with minimal fees. The BuyOut consists of the retail value of the items, in addition to a fixed fee.
Note: The BuyOut option is available for items leased without an auto-refill service plan.
After the BuyOut promotional period is over (after 90 days), customers can still save on total fees by completing an Early Payoff.
The Early Payoff Option is available for both non-bundled and bundled transactions, as long as the customer is on a Lease-to-Own plan. (The Early Payoff Option is not available in NJ, MN, WI, and WY. Customers in these states are offered a 12-month lease payment plan which renews annually, unless the customer wishes to cancel the lease.)
BuyOuts and Early Payoffs must be requested, and are processed as a single transaction at the time the customer is ready to make the payment. Customers can make the payment (or find out what their BuyOut or Early Payoff amount is) by logging into their account at SmartPayLease.com/login, or by calling our Customer Support Team (payments are not accepted in store).
Here are the phone numbers for our Customer Support Team:
Items without an auto-refill service plan: (800) 374-5587
Device and auto-refill service plan bundle: (844) 663-1309