Comment

Comment by David Ruggles on February 18, 2009 at 12:04pm

I hope more pragmatic minds take over. Lenders should be free to "price for risk." It seems obvious that the price charged for increased risk in certain mortgages wasn't adequate, as it was assumed housing would continue to escalate or hold steady in value.

Comment by Jack Stanton on February 18, 2009 at 11:52am

I would agree, but our state government is trying to reign in our profit margins. The socialists are taking over and want more control over the auto industry.

Comment by David Ruggles on February 18, 2009 at 11:46am

It seems the laws regulating LHPH, instead of LTO or RTO are federal and don't fall under state guidelines. LHPH falls under the auspices of Reg M.

Comment by Jack Stanton on February 18, 2009 at 11:30am

CIADA here in NC has advised us to stay out of RTO & LTO until the legislature has amended the laws.

Comment by Mitch Berndt on February 17, 2009 at 6:10pm

Any program in any state could potentially be illegal if the dealer isn't administering the program correctly. In the state of NC my company utilizes a leasing contract and they lease used vehicles. So, could that program be illegal? Potentially yes, if for instance you are establishing nominal residual values. But does that mean that the program is illegal, no, its being administered wrong.

Comment by Jack Stanton on February 16, 2009 at 7:55pm

The legality of RTO is still in question for the state of NC.

Comment by Mitch Berndt on February 11, 2009 at 10:23pm

You're right David, there are a lot more advantages all stemming from the fact that the dealer remains titled owner of the vehicle. But it doesn't hurt to have both options available.

Comment by David Ruggles on February 11, 2009 at 7:03pm

Randall McCathren has had a complete "Lease Here Pay Here" program for a few years... I don't know what similarities might exist. Sounds like the underlying advantages should be the same. I cannot understand why anyone would do BHPH when they could do the Rent or Lease, especially in states where the sales tax is on the payment of a rental or lease, rather than the full amount! Of course, there are many more advantages!

Comment by Mitch Berndt on February 11, 2009 at 6:38pm

Al Lentsch founded Ren'T'Own® in 1990 and to our knowledge is the first to market such program nationwide.

Comment by David Ruggles on February 11, 2009 at 6:00pm

I'll give him an invite!

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