KC Auto Sales Manages Used Vehicle Leasing Through Northland

Northland Auto Enterprises Case Study

For more than two years, KC Auto Sales, San Ange­lo, Texas (5 hours from Dal­las- Ft. Worth area) has been a cus­tomer of the North­land  Auto Enter­pris­es used car leas­ing pro­gram – Ren’T’Own®/Lease’T’Own®.

The RTO/LTO® pro­gram makes a lot of sense to bet­ter serve this mar­ket for a num­ber of rea­sons:

  • Cus­tomers need a flex­i­ble financ­ing option when their choic­es are lim­it­ed due to low cred­it scores and finan­cial chal­lenges. With RTO/LTO®, deal­ers own the vehi­cle 100% – a strong defense against repos­ses­sions, bank­rupt­cies, and delin­quent pay­ers. The cus­tomer is giv­en options when oth­er deal­ers have turned them down.
  • Cus­tomers of KC Auto Sales buy used/pre-owned cars from the deal­er through the Ren’T’Own®/Lease’T’Own® pay­ment pro­gram with no cred­it check, 0% APR, and low month­ly pay­ments. Cus­tomers appre­ci­ate the price and ser­vice lev­el.
  • KC Auto Sales has appre­ci­at­ed the cost effi­cien­cy – $1 mil­lion and $5 mil­lion options for lia­bil­i­ty cov­er­age, and hav­ing a sol­id alter­na­tive to tra­di­tion­al finance. “It’s easy to use, and the cus­tomer ser­vice is great,” says Tim Carterof KC Auto Sales. “If we have a law­suit from an acci­dent, the North­land legal team takes it on.”

For Tim Carter, it’s been a very good mar­ket for the deal­er­ship, but the chal­lenge has been serv­ing cus­tomers while effec­tive­ly man­ag­ing the leas­es, and some­times hav­ing to face legal prob­lems.

Deal­ers are learn­ing a lot more now about the lia­bil­i­ty risk with leas­ing – it can quick­ly tran­si­tion into a law­suit out­side of insur­ance pol­i­cy cov­er­age. “We were sued when a dri­ver was killed dur­ing a col­li­sion,” Carter said. “North­land took care of it – we didn’t have to wor­ry about lia­bil­i­ty.”

Leas­ing has become a strong alter­na­tive financ­ing method for used car trans­ac­tions, but deal­ers have to learn how to man­age the con­tracts and com­ply with detailed state laws over­see­ing leas­ing. Man­ag­ing and over­see­ing leas­ing con­tracts is guar­an­teed by North­land. While this process can be dif­fi­cult and very stress­ful, if you’re being audit­ed by the state, Carter says “Audi­tors and inves­ti­ga­tors are not prop­er­ly trained on leas­ing con­tracts. North­land is able to resolve these issues for us.”

Vis­it the e for more infor­ma­tion on Ren’T’Own®/Lease’T’Own®.

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