KEYPORT, N.J. — This acquisition accelerates the expansion of DCL as a DMS provider within the independent dealer network that it already serves, as well as opens the door for franchised dealers to install Lease Here Pay Here (LHPH) as a separate department within their dealerships, much like F&I departments created in the late ’70s.
Sansone Jr. says, “A dealership that establishes their own LHPH department would be able to take complete control of the lending process, allowing them to sell more cars and generate significantly higher income.” Producing just 25 LHPH deals per month would generate an additional $3 million in revenue at the dealerships, plus an additional $1.25 million in profit at the leasing company.
This business model is a win-win solution for the dealer and their customers. The dealership generates revenue that they did not have available to them before, and the customer can refinance after just 50% of the payments are made, potentially saving $5,000 to $10,000 over traditional high-interest rate long-term loans.
Sansone Jr. started LHPH operations (NJ Auto Lending) at his NJ dealerships in December 2020. He has since originated 650 subprime leases and will collect a projected $4 million in customer payments in 2023.
As a dealer himself, Sansone Jr. wants the technology to focus on the highest areas of concern for a dealer. These include easy desking, easy comparison of short-term leases versus high-interest rate long-term financing, easy customer selection, easy collections of monies due, and protection of dealer assets.
Any dealer interested in hearing more about Dealer Controlled Leasing, Inc. can visit their website at https://dealercontrolledleasing.com/.
Related link: https://dealercontrolledleasing.com/
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