Ren’T’Own® Lease’T’Own®

Information

Ren’T’Own®          Lease’T’Own®

Learn about Ren’T’Own®/Lease’T’Own™ and how it can compliment your current BHPH business model.

Website: http://www.northlanddealers.com
Members: 157
Latest Activity: Feb 24

IMPORTANT INFORMATION - PLEASE READ BELOW!

Be sure to click the "VIEW ALL" link in the lower right hand area below the last Discussion Topic. Only a small number of the total discussion topics may be visible when you land on this page, so you must use the link to see all the topics of interest.

Discussion Forum

Corporate structure for LHPH?

Started by MICHAEL SOLOMON Oct 18, 2012. 0 Replies

AutoZoom

Started by Gayle P.. Last reply by Thomas LaBate Nov 26, 2009. 4 Replies

Northland RTO/LTO Blog

Customer Retention

CUSTOMER’S CAN’T TRADE A REN’T'OWN OR LEASE’T'OWN VEHICLE WITH ANYONE BUT YOU! Rich or Poor-customers like to change vehicles.  On a standard retail car sale or even a BHPH sale, once that customer leaves your lot, there’s no guarantee that … Continue reading

Commissions

A great question came in the other day – How should I pay my sales staff when using the Ren’T'Own  Business Model? As a life long salesman, my opinion might be slightly weighted so I offer this response only as … Continue reading

It’s a CrapShoot!

With so many dealers implementing the profitable business model of Used Car Leasing within their dealerships, we wanted to take a moment to remind you about the importance of insurance.   With Used Car Leasing, your customer should carry the state’s … Continue reading

The Cause We Support Is YOU!!!

Helping Dealers Succeed! 23 years ago, Al Lentsch, Executive Director of the Northland Independent Automobile Dealers Association and inventor of the ORIGINAL used car leasing program – Ren’T'Own®, had one goal in mind and that was HELPING DEALERS SUCCEED. He … Continue reading

Employee Spotlight – Doug Twedt

Name: Doug Twedt Position: Director of Training for Northland Length of time in position: 1 ½ years Hobbies and Interests:  I have been a “cowboy action shooter” for more than 20 years and am a safety trainer for SASS, (the … Continue reading

Comment Wall

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Comment by Otto Sales on July 22, 2009 at 11:38am
We tried it here in Wisconsin..and were SHUT DOWN by the
D.O.T....Rent 2-Own was and is a good option...Wisconsin
is on the side of the customer who never has paid any one.
We hope the program will be "blessed" we have very little true Sub-Prime lenders as we are a small dealer.
We can not wine and dine the potential lenders...am I suggesting Payola?Figure it yourself....
Comment by Dugan Anderson on March 30, 2009 at 11:03am
Just wanted to pass this on:

At a recent dealership visit, the owner of the Inn where I stay pulled me aside and asked to share a story with me. I am ALWAYS pushing this establishment for her, for its GREAT food, atmosphere and staff. I assumed that was what the story was about and here it is:

A salesperson at my client’s dealership (RV Dealership) was trying to strengthen the relationship between his customer and himself, and offered to take them to lunch. Having heard so much about the Inn where I stay, he decided to take them there.

He and his customers went in, were immediately seated, the waitress took their drink orders and gave them menus to look over. After a few minutes the customers informed the salesperson there was NOTHING on the menu that excited them and wanted to leave. When the waitress came back, the salesperson politely asked for the check. Shocked, the waitress asked if there was a problem and was told the menu was not to their liking (the customers liking), that they had their minds set on a steak and none were offered.

Flustered, the waitress went to get the check, but stopped by to chat with the owner, first, to tell her what was going on. The owner went promptly went in to the kitchen, asked the chef if the grill was hot enough to cook steaks and was informed it was. She then grabbed a couple of dinner menus and presented them to the salesperson and his customers. They selected their steaks, had a nice lunch and then went on their way. By getting someone else involved, they turned a $10 beverage sale into a $120.00 meal ticket. Shouldn’t we ALWAYS get someone else INVOLVED?

Is it POSSIBLE that this, or something like this is happening at your dealership? My point(s) are these;

NO one single individual in a dealership is QUALIFIED to let a customer GO, without a SECOND OPINION.

TWO HEADS are better than ONE.

EVERY customer needs to talk to a manager, BEFORE they leave the dealership, NO EXCEPTIONS.

Or my new favorite, NO ONE LEAVES UNTIL THEY’VE SEEN THE DINNER MENU!
Comment by Shannon Green on March 16, 2009 at 11:24am
Thank you for the invite to your group, I look forward to reading the script. Please contact me if I can provide any of your members help.
Shannon Green
Comment by Charlie Hernandez on February 22, 2009 at 6:10pm
Is RTO legal in the state of Connecticut if so does anyone have experience with the only 2 companies that are doing this? What kind of vehicles are the best to put in this program? Are we talking about real cheap stuff or are we considering a higher price level?
Comment by Gene Daughtry on February 21, 2009 at 10:07am
I wonder what happens in accounting to the unpaid lease payments when you "trade" them out of the first car. Why can't the customers trade out of your lease with someone else? We always traded customers out of leases in the retail business.
Comment by Tina Faucette on February 21, 2009 at 9:47am
Dan, that sounds like an awesome reason to do the rto. I am seriously thinking about it. I am wondering if you trade them into something else do they put more money down and do they tend to have it available? Good advise even for buy here pay here. Even if they don't buy another car, they may tell a friend about the nice car they saw at your lot.
Comment by Billie Sue DeForest on February 21, 2009 at 9:07am
THANK YOU FOR RESPONDING! HAVE A BLESSED DAY.
Comment by Dan Blowers on February 20, 2009 at 5:54pm
Billie Sue,
There is a long term marketing stratedgy for making the customer bring the payment to the dealership. The relationship and trust levels grow and then at about 8-12 months, you ask them if they see any other car on the lot that they like better than what they are driving? They will start looking and you will soon have another origination fee and have them starting over with a new lease. Remember, they can't trade that car with anyone else! They don't want to own the car, just keep paying the payments to you and once a year or so, they get a different car. The old car goes back in the fleet for another sale. It is very profitable for you and you don't have to buy more cars.
Comment by Jan Eide on February 20, 2009 at 5:50pm
To respond to your question, Billie Sue DeForest, as you are a client of Dealer Plate, you can attend our weekly Webinar (for Dealer Plate clients only) dedicated specifically to the rent/lease to purchase Dealer. It is a very informative session covering many different issues: from setting up your inventory on your lot, handling the sale, vehicle maintenance, and so on. Just go to our website to sign up, or give us a call and we can send you a link to the next live Webinar session. Jan Eide, Dealer Plate, Inc.
Comment by Billie Sue DeForest on February 20, 2009 at 4:50pm
We are fairly new to RTO / LTO w over 20 #s rolling. We have had several customers ask us to set up their bi-weekly payments on auto direct deduction to their bank account -or- auto direct debit to a dr card. Is this very involved? Is this a good idea? What about regular maintenance on the auto? Please comment. Thank YOU!
 

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