Compliance Guidelines To Starting A Lease Here Pay Here Dealership:
We are now in a huge push on helping dealers set up used car leasing. The lease here pay here programs is something that has caught trend in several states versus selling. There are over 2000 dealers nationwide that have such a program and we have made it our job to help dealerships get fully prepared and ready to serve the general public.
The lease here pay here idea actually originated from some dealerships that offered used cars for rent during the cash for clunkers days. The clunker program left the car market with an expensive amount of used inventory that left the buyer with no options to purchase unless they can afford to buy new. Also it was more profitable lease the vehicle versus rent it. Most people that wanted to rent a used car normally did not have a credit card or bank account. Without having these financial accounts it was almost impossible to go anywhere else.
Many customers wanted to have a cheaper rental term so they actually offered a lease here pay here plan that many customers enjoyed and took a liking to due to the fact that it was hard to find a cheap used car at a reasonable price. It is a win situation for the customer and the owner of the car dealership.
The customer does not need to put so much money down to lease a vehicle taxes are over 90% less when leasing as opposed to buying and the owner can repossess the vehicle in times of default. Some even may say that leasing does not fall under price gouging or predatory lending guidelines and this is what makes the program work for both parties.
There are certain business practices that most dealerships need to fall in line with and that is our job to make sure we help them in the best possible way so that way there will not be any fraudulent or unfair business practices in a market that already has a tainted name.
We want you to get all the needed information to set up your business in an effective honest moral structure.
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