Why invest in AutoStart? We've started a revolution
AutoStart began operations in 2009 and is one of the fastest growing pre-owned automobile lessors in the United States. AutoStart's primary business concentrations are leasing high-quality, pre-owned vehicles to the sub-prime market and collecting payments on active lease accounts. Our privately held company conducts business through 11 retail stores and 4 service centers in Kansas, Missouri and Oklahoma.
The AutoStart revolution begins with providing more value to our customers than virtually every other auto dealer in the subprime segment of the used car market. This value comes from a combination of services and products completely unique to AutoStart. While some dealers offer a few of these benefits to select customers, none provide our comprehensive package to all customers. Each vehicle leased through AutoStart includes:
Vehicle Reconditioning- All vehicles undergo an extensive multi-point inspection and thorough reconditioning process ensuring that they are both road worthy and safe. We typically replace worn tires, brakes, hoses and belts. We also regularly address more significant powertrain, drivetrain, suspension and steering issues
Vehicle Warranty- A "lifetime of the lease" limited warranty (depending on the lease term) against major mechanical failure. The warranty runs the entire contracted period of the lease, protecting the customer, asset and dealer. This plan covers the most important and expensive power train components of the engine, transmission and drive axle.
Pre-paid Tax, Title and Tags- We pay all applicable taxes, tag fees and titling fees for our customers. We even go get the tags from the State or County in which customers reside. This saves customers considerable post-purchase expenses and time.
Early Lease Termination- With this program, our customers never have inequity in their vehicle. Customers can turn in their vehicle at any time by paying any past-due amounts on their account and a one-time lease cancellation fee of $795. Customers can use this program to trade in, trade up or simply walk away from their lease with no negative account activity reported to credit bureaus.
Optional Collateral Protection- While the customer is still required to carry state minimum vehicle liability insurance, customers may choose this product in lieu of comprehensive vehicle insurance. This protects our investment in the vehicles and saves the customer money versus conventional comprehensive vehicle coverage.
AutoStart's corporate structure helps maintain profitability even while offering these valuable products and services to customers. Our lean operations and clear processes allow efficient use of personnel and capital. Staffing levels of sales associates, service technicians, managers and corporate support employees are based on sales volumes as projected by year over year forecasts. Employee pay levels are standardized across all positions and locations.
Perhaps the greatest efficiency gained by AutoStart's corporate structure comes from our collections process. Each location manager and his or her sales associates are responsible for new sales and collections on existing accounts. This arrangement builds rapport with customers and creates an environment in which managers and salespeople have a vested interest in the success of their customers.
AutoStart's Lease Here/Pay Here business model also significantly outperforms the traditional Buy Here/Pay Here model in a number of ways.
Customers are attracted to leasing higher quality vehicles at payment levels below traditional Buy Here/Pay Here payment levels.
There is far more flexibility in lease terms versus conventional Buy Here/ Pay Here terms
AutoStart maintains actual ownership of the leased vehicle, aiding in account collections and reducing state mandated requirements in the event of repossession.
AutoStart believes that building and sustaining positive relationships with customers, combined with our unique business offerings are critical to the long-term success of the company. In our highly competitive, yet greatly fragmented industry there is significant opportunity for continued growth.