Why Lease?
Are you considering writing leases, or are you already doing it? Leasing is a great way to mitigate some risks and expand your business. At CAR Financial, leases are NO PROBLEM!
- Customer payoffs and trade ups are managed exclusively by you.
- Since there is no retail sales agreement, income earned on the lease contract may be treated differently than a sale (consult with your accountant).
- GPS and tracking devices are no problem. In case of customer default, you retain that ability to know the vehicle location (proper disclosure required).
- Sales tax may be paid monthly instead of up front…you pay sales taxes as the customer pays payments (consult your accountant).
- Residual Control – At the end of the lease term, the customer either pays the residual or they return the unit to your inventory so you can sell it again.
We make it easy on you with these simple program guidelines:
- Preferred 90 days of aging
- Preferred remaining terms of 24 months or less
- Accounts with accurate contact information and pay histories
Advantages to you:
- Inject capital into your dealership for expansion or increase inventory
- Reduce capital exposure on outstanding debt
- Reduce servicing overhead costs—We do the collections for you
- Enhance operating efficiency
- Concentrate on SALES so you SELL MORE CARS
- Help re-establish your customer’s credit
- We can handle weekly, biweekly, semi-monthly or monthly customer payments
- Option to get YOUR cars back by managing your reserve and your residual
We support Starter Interrupt and GPS Devices!
- CAR is integrated with most commonly used device providers
- We support both code based and wireless devices
- 24-hour automated service for certain code-based devices
- Customer Service by phone available Monday – Friday 8am-6pm EST
- For more information call your CAR Financial Services Representative or call 1-866-395-3837 and ask for the Starter Interrupt Department.