Check the Associate Agreement carefully before signing up with a program. Make sure there isn't a non-compete clause, no long-term commitments, or sales quotas that need to be met.
Don't fall for a "one-size fits all" contract. Make sure the Lease Agreement is compliant in your specific state.
EXCESS CONTINGENT LIABILITY INSURANCE
Obtain Excess Contingent Liability Insurance protection with or without physical damage coverage. One accident without insurance coverage could cost you over $30,000 in legal costs alone!
If your Excess Contingent Liability Insurance policy does not include Physical Damage to cover the cost of repairing the vehicle, make sure there is a comp/collision protection Insurance policy accessible to you.
NATIONAL INSURANCE CONTRACT
Find a National Insurance Contract rather than individual coverage to ensure you are not canceled after the first claim.
The program should include customer insurance status tracking. DON'T PAY EXTRA FOR THIS!
Look for a company with years of experience and a proven track record. Don't settle for an inexperienced company who is trying to catch the wave of this profitable business model.
Look for a company who financially stands behind and will defend their lease contract if it were ever challenged by the state.
Training on how to complete the lease contract and other paperwork should be specific to your state laws. Be cautious of the generic on-line training with no interaction for questions. Training and refresher training should be included as part of the program, not an extra fee.
Choose a company who has specialized support in the area of insurance, state statutes, tax, etc...and has relationships with state agencies. These specialists can save your dealership a lot of money!
LEASING PROGRAM CHECKLIST
For your protection and best chance at success,
make sure your Used Car Leasing program includes these things:
Northland's company motto "HELPING DEALERS SUCCEED" is at the core of everything we do.
Because of that, we want you to do your research and find the best program to fit your needs.
We welcome any questions and want to help you make the best decision for your dealership