LEAP for Partners
LEAP offers settlement solutions for defaulted auto loans. Looking for a way to improve your collection and recovery efforts? Consider LEAP for customers who are chronically delinquent, bankrupt, or in repossession.
LEAP buys the vehicle from the lender and leases it back to the customer. LEAP pays the lender more than the value the lender would get at auction. LEAP then leases the auto to the customer with terms that better fit their circumstances. At the end of the lease, the customer has an option to purchase the vehicle at a bargain price.
Both lenders and borrowers benefit from the LEAP program!
LEAP Benefits Lenders and Borrowers
| Lender benefits |
Borrower benefits |
| Resolution of delinquency and lower charge-offs |
Continued use of vehicle |
| Less exposure to future risk |
Lower payments |
| Reduced loss per repossession |
Improved credit bureau score |
| Lower operating expense |
|
| Accelerated cash flows |
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