 |
 When
Jerry Thompson, CVLE formed Austin Auto Leasing in 1994,
the Internet was just beginning to capture the attention
of the general public. Although the concept of conducting
business over the World Wide Web received mention in some
circles, the Internet was little more than a source of
curiosity to most business owners. In 1999, Thompson began
to look at ways to more fully employ the Internet to streamline
the business. "Initially, our goals were to improve internal
processes and make it possible to locate representatives
in other cities and states." The company contracted Uniquest
International, a software developer, to create a proprietary
program designed to monitor each step of the lease transaction
from first contact to closing the deal. "We wanted the
capability to track the sales process using one software
program that could be used through the Internet," says
Thompson.
Online
Leasing Model
While
overseeing the development of the software, Thompson began
to envision broader applications for the program. He looked
to changes occurring in the arena of vehicle sales, where
companies were unveiling online business models that promised
to revolutionize the way that vehicles could be sold and
distributed. "We stepped back and looked at Austin Auto
Leasing from the perspective of outsiders," says Thompson,
"thinking about what those new models might mean for leasing
and what we could do to be in the forefront of change.
Surveying
the growing number of online finance and vehicle sales
companies, Thompson found that few, if any, offered their
customers a leasing option, and concluded that the reason
was a lack of expertise and resources for handling leases.
"Financing a lease is much more complicated than financing
the purchase of a vehicle," he says, "and we positioned
ourselves to take that complicated process and specialize
in it.
In
November 2000, Thompson and his team launched autoleaseDIRECT
providing business-to-consumer direct leasing services.
By accessing the Web site at autoleasedirect.com, individual
consumers can lease any make or model vehicle from almost
anywhere in the continental United States, tracking the
progress of the deal from start to finish. Using autoleaseDIRECT.com,
online finance companies, e-tailers and new car dealers
can add a leasing option to their product offerings without
the need to hire and train in-house leasing staff or develop
the software required to provide quotes and prepare contracts.
Dealing
exclusively with Internet users enables autoleaseDIRECT
to make full use of online resources for assisting customers
to make an informed decision to meet their vehicle needs.
Thompson notes, "There's so much information available
on the Internet that can't be shared as effectively with
a customer through a fax or a phone conversation. Visitors
to the Web site are directed to a wide array of instant
data, either directly on autoleaseDIRECT's site
or through links to other sites. For example, lessees
can obtain Consumer Reports analyses of various vehicles,
review the technical specifications for a particular model,
and take advantage of the vehicle configuration capability
available on manufacturers' Web sites.
The
software utilized by autoleaseDIRECT offers visitors
a highly automated process that guides them through each
stage of the lease transaction. At their convenience,
individuals can visit the site and choose the make and
model, obtain REAL lease quotes for all available lease
terms, submit credit information and review contracts,
all without the pressure of interacting with a car dealer
sales representative. When a vehicle is located and financing
is obtained, autoleaseDIRECT arranges an appointment
for the customer with a local dealership to sign the contract
and take possession of the vehicle.
Thompson
characterizes autoleaseDIRECT as a buffer between
lessees and the dealership. "Like it or not, people still
feel that the sales process is intrusive and abrasive.
When our customers go to the dealership to pick up their
vehicles, they go in as a pre-approved customer and deal
with the Fleet Department or a sales manager. It's like
leasing a car from a dealership where they have a friend
who's a manager.
Integrating
High-Touch with High-Tech
Thompson
makes sure that despite a significant degree of automation,
autoleaseDIRECT maintains the service-oriented
approach that is the strength of independent leasing companies.
Customers enjoy the convenience of the Internet without
sacrificing access to personal attention. "We are here
to assist lessees throughout the process and answer any
questions that come up along the way.
The
company's formula is making the entire transaction as
easy and non-confrontational as possible. Many online
customers prefer to correspond via e-mail, and autolease
DIRECT is fully prepared to accommodate those customers.
However, there are points within the process where personal
interaction is necessary, not only to ensure that a customer
understands what leasing entails but also to eliminate
the danger of processing fraudulent applications.
Every
online customer who submits a credit application receives
a follow-up call from an autoleaseDIRECT representative.
With credit information, vehicle specifications and payment
preferences already at their disposal, representatives
initiate the relationship prepared to explain how autoleaseDIRECT
can meet each customer's particular needs. "We've always
taken a very soft-sell approach to leasing," says Thompson.
"It's important that leasing is presented truthfully and
that customers understand what they are doing before going
forward.
When
a customer is ready to proceed, the desired vehicle is
located at the best price and financing approval is obtained
through the company's network of funding sources. Along
the way, representatives are available to explain the
leasing process and assist customers with contracts. "The
process looks different from the customer's side," says
Thompson, "but where the tire meets the road, we're still
leasing cars to people.
Turning
Online Buyers into Online Lessees
Thompson
acknowledges that autoleaseDIRECT's success depends
on overcoming consumers' wariness of leasing. Providing
customers with information about different financing options
is an important component of the company's Internet strategy.
"Public misconception is the biggest barrier to leasing
more vehicles," says Thompson. "By educating the individuals
who visit our Web site, we provide a service to the leasing
industry and, in the process, autoleaseDIRECT will
gain some customers.
Jerry Thompson, CVLE
Jerry
Thompson is the President of FINSERV Group (DBA autoleaseDIRECT.com)-a
business to business, web-based, lease facilitator and
consulting firm for vehicle dealers, e-dealers, online
finance providers and national marketing partners. Over
the past four years, Mr. Thompson has led the development
and refinement of unique software and business processes
that streamline and create efficiencies within the leasing
model. These dynamic tools manage the entire leasing process
including: lead acquisition and processing, credit information,
lease payment quoting, client contact and follow up, work
flow, employee performance, and almost all other leasing
and data management functions. Mr. Thompson has been a
leader in the auto leasing business for the past sixteen
years and is the Chairman of the Texas Chapter of the
National Vehicle Leasing Association (NVLA), and serves
on its national Board of Directors. During this time,
Mr. Thompson has served as Legislative Chairman and Ethics
Chairman and has been the recipient of the NVLA's President's
Award for his contributions to the industry. Mr. Thompson
was instrumental in the passage of licensing legislation
for lessors and lease facilitators in Texas. He helped
spearhead the seven-year effort that led to the passage
of a Constitutional Amendment in Texas to allow for the
exemption of personal use leased vehicles from personal
property taxes. In addition to speaking and writing articles
about leasing, Mr. Thompson has earned the Certified Vehicle
Leasing Executive (CVLE) designation.
Mr.
Thompson is Co-founder and Board Member of Special Missions
Foundation, an international non-profit organization that
supports programs to improve education, healthcare and
living conditions for people in developing countries.
Over the past twelve years, he has helped organize over
60 medical mission trips to Latin America and has led
18 field teams to Honduras in an effort to provide medical,
dental, optometric care and surgeries to people who have
no access to these basic services. Mr. Thompson, a graduate
in Business Administration from North Texas State University,
resides with his wife, Dr. Sandra Romero de Thompson,
in Georgetown, Texas.
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