History

LEAP was formed in 2009 by a team of auto finance professionals with many years of non-prime auto lending experience. During the economic crisis that began in 2007, we realized that there was a need to provide auto loan borrowers with workout solutions to help them meet their obligations as their circumstances changed. Many lenders are constrained in their ability to reduce auto loan payments due to regulatory restrictions, debt covenants and internal policies. Our objective at LEAP is to make a settlement offer that is good for the lender and the customer, and still provide a good return for LEAP investors. With many years of industry experience and strong financial backing, we are able to offer flexible settlement options to buy the vehicle from the lender and lease it back to the customer.

Some customers presently have no vehicle or are unable to reach a settlement agreement with the lender. In these circumstances, LEAP is sometimes able to approve qualifying customers to get another vehicle.

LEAP Affiliations

• LEAP is principally owned by Austin Ventures, a venture capital and private equity group with 25 years of experience and over $4 billion in managed funds.
• LEAP is a member of the American Financial Service Association and is represented on its Auto Finance Advisory Board.
• LEAP has the capability to do business in most states.