Keys to a Better Dealership

By Allen Lentsch

Lease to Own, Rent to Own, Lease Here-Pay Here, Lease Here – Buy Here ….. you’ve heard these terms float­ing around in many con­ver­sa­tions late­ly and in many print and web arti­cles.

The word on the street is that the leas­ing of used cars is tak­ing over the indus­try and we believe it!

One thing to keep in mind as you begin to look into used car leas­ing pro­grams is that not all pro­grams are alike. The Lease Here-Pay Here pro­gram you saw in the lat­est indus­try pub­li­ca­tion is not like the Lease to Own pro­gram that you saw adver­tised on the inter­net. Even though the con­cepts are sim­i­lar, the pro­gram and pro­tec­tion for the deal­ers can be very dif­fer­ent.

You need a pro­gram with a state com­plaint lease con­tract, con­tin­gent lia­bil­i­ty insur­ance pro­tec­tion, and cus­tomer insur­ance sta­tus track­ing.

♦ Look for a com­pa­ny with years of expe­ri­ence and a proven track record.

♦ Look for a com­pa­ny who stands behind their lease con­tract if it were ever chal­lenged, one who pro­vides spe­cif­ic train­ing on how to com­plete the con­tract and oth­er paper­work accord­ing to your state laws.

♦ And most impor­tant­ly, choose a com­pa­ny who has spe­cial­ized sup­port in the areas of insur­ance, state statutes, tax, and has rela­tion­ships with state agen­cies. These spe­cial­ists can save your deal­er­ship a lot of mon­ey!

Don’t try to rein­vent the wheel and don’t set­tle for an inex­pe­ri­enced com­pa­ny who is try­ing to catch the wave of the excit­ing par­a­digm shift we’re see­ing in used car sales.

Allen Lentsch is the CEO of North­land Auto Enter­pris­es, Inc. and founder of the orig­i­nal Ren’T’Own® and Lease’T’Own® busi­ness mod­els. To learn more about Northland’s prod­ucts and ser­vices, con­tact Allen Lentsch at keys@northlanddealers.com, 800–879-3433, or vis­it northlanddealers.com.

 

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