One-Pay Lease Valuable But Little-Used Sales Tool
The one-pay lease is a way to purchase a vehicle by writing the dealership a check for the total of payments on a 36-month, single-payment lease. At the end of the 36 months, the customer can choose to renew the lease, turn in the vehicle or buy it outright.
A recent F&I Master’s class taught me about having a conversation with purpose. Since we are having a conversation, let’s make it count – especially if you are working in a high-line dealership catering to affluent customers with higher credit scores.
Many business managers forget, or aren’t familiar with, a seldom-used sales tool: the one-pay lease. To a cash customer, this is a way to purchase the vehicle by writing the dealership a check for the total of payments on a 36-month, single-payment lease. One advantage is a lower interest rate, which means lower payments. Another is that the upfront payments make credit approval easier.