Vehicle Funding with LTO® Financial
As part of Northland, LTO® Financial adheres to the same motto and set of ethics that has earned your trust and loyalty as a Lease’T’Own® dealer “Helping Dealers Succeed”. LTO® Financial provides the ability for you to use your Lease’T’Own® fleet in exchange for funds to buy additional vehicles. LTO® Financial provides the dealer with an excellent cash flow and the opportunity to continue growing a successful business.
Here’s how it works!
VEHICLE PURCHASING LTO®
LTO® Financial purchases qualified vehicles and their corresponding Lease’T’Own® contracts from approved and Lease’T’Own® dealers in groups of 3 or more.
Qualified vehicles will be:
- Contracted on a Lease’T’Own® Consumer Lease Agreement
- Covered with Excess Contingent Liability Insurance provided by Northland Auto Enterprises, Inc.
- Equipped with a Northland GPS vehicle tracking device
LTO® Financial purchases the vehicles at a receipt value not to exceed NADA Clean Trade-In value. At the time of purchase, LTO® Financial is put on the title as owner of the vehicle at the dealer’s expense. There is a one-time $100.00 fee per group of vehicles that are purchased.
The dealer becomes a “Dealer-Agent” of LTO® Financial. In this role, the dealer will perform various duties on behalf of LTO® Financial. These duties include maintaining the day-to-day relationship with the lessee, collecting the lease payments, handling the recovery of vehicles if needed, vehicle maintenance, etc.
The Dealer-Agent makes a monthly payment to LTO® Financial for a set duration of time.
Upon completion of each deal LTO® Financial will sign the title back to the Dealer-Agent to dispose of as they see fit.
To become a candidate for LTO Financial, LLC, the following documentation may be required:
- Copy of your Dealer’s License
- Completed Personal Financial Statement – signatures must match signatures on Dealer’s License.
- Copy of your Articles of Incorporation (if incorporated)
- Copy of the Drivers Licenses of all signers of the dealer license
- Copy of the business bank statements for the last 2 months
- Copy of your Dealer Bond
To be considered for increased purchasing potential, the following documents will also be required:
- Copy of the last 2 years business financial statements
- Copy of the last 2 years of personal taxes (required for each owner)
- Balance Sheet and Profit/Loss Statements (samples available here)
We respect your privacy! We will only use this information to contact you regarding our program. Submit these documents to:
LTO® Financial, LLC
850 East Cliff Road
Burnsville, MN 55337
firstname.lastname@example.org or by fax to (952)-767-4507
The approval process takes approximately 1-2 weeks.
Lease & Vehicle Requirements
- Dealer must be an active Lease’T’Own® Associate in good standing with Northland Auto Enterprises
- Dealer must own the first grouping of 3 vehicles
- Vehicles to be purchased must be contracted under Lease’T’Own® Consumer Lease Agreements
- Lease’T’Own® vehicles must be covered with Contingent Liability Insurance provided by Northland Auto Solutions. Coverage options include either Gold Coverage or a combination of Silver with Coverage Plus.
- Exotic vehicles are not permitted for this program. (Ex: Mercedes, Land Rover, BMW, Etc.)
- Lease’T’Own® vehicles must be equipped with a Northland GPS vehicle tracking device
- Dealership must be actively using an approved Vehicle Management Software
“I’ve been a customer of Northland for 12 years. I’d heard good things about them. A buddy of mine on the west bank had been doing business with them in the rental and lease to own business and there aren’t many companies who are so deep and specialized in those lines. They completely blew away all the other companies doing this. They don’t have contracts, but I’ve been with them ever since. “
CC Owner A&C Automotive
“I’d say everyone I’ve come in contact with from Northland Auto Solutions are very friendly and helpful. And they’re really good guys. For complicated questions I don’t expect an immediate answer, like if you have a legal question, someone will get back to you within 24 hours. They are extremely knowledgeable about state laws. And more than able to give solid business advice.”
KL owner AutoDivide
“Northland Auto, I think overall they are fun to do business with. You can make a call, laugh and joke with someone. It’s very human interaction it’s not just you being a number. You can partner up with them very well.”
CC Owner A&C Automotive
“Extremely satisfied with all the offerings at Northland Auto Solutions, extremely. I’m a small size dealer I’ve got maybe 18 units out there on the plan, I usually have an inventory of about 20. I’m just a small guy. I’m very pleased with what they offer.”
CC Owner A&C Automotive
“I initially started our LTO program as a way to supplement our income. My intention was to create between $800-$1,000 of additional income monthly. Within six months we were doing well over $5,000 per month in payments. We’ve since, more than quadrupled those numbers.”