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Bayou Auto Sales Sees Success With Rent to Own System
03-20-07
RTO Online - The rent to own industry's trade website
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Over the last six years Donnie Cochran has learned a great deal about selling rent to own automobiles. Cochran is opening a second location eighty miles away in Houma, Louisiana and expects to add 100 active automobile rental agreements in the next 12 months.

As in any Rent To Own operation collections are very important. Most of Cochran's customers pay biweekly and most payments are between $150-250.

The largest and fastest growing automobile rent to own system in the country, SEADRA (Southeast Auto Rental Dealers Association), announces Success On The Bayou. Bayou Auto Sales is located in New Iberia, Louisiana, a small bayou city of 34,000 residents. Bayou Auto Sales has been the automobile Rent To Own leader for this area of the state for several years. Owner Donnie Cochran pays attention to detail - and one detail he is very keen on is profit. Over the last six years Donnie has learned a great deal about selling automobiles using the SEADRA Rent to Own System. Cochran is opening a second location eighty miles away in Houma, LA. With over 200 cars on the SEADRA Rent to Own system, his cash flow continues to grow. Bayou Auto Sales expects to add 100 active automobile rental agreements in the next 12 months.

As in any Rent To Own operation collections are very important. Most of Cochran's customers pay biweekly and most payments are between $150-250. He only sells his vehicles on a RTO basis because of the built in protections for his property and support for his business provided by the SEADRA staff. Keep rate varies between 10% to 25%. Most customers upgraded to a newer vehicle at least once during the agreement.

All vehicles on the SEADRA Rent to Own System have two auto insurance policies on them at all times and, as with any rent to own transaction, the RTO dealer maintains full ownership of the vehicle until the last payment is made. Maintenance of the vehicle is the contractual responsibility of the renter who is obligated to maintain the vehicle at all times.

As the success of Bayiu Auto Sales proves, the SEADRA Rent to Own System works in smaller markets. Over 75% of the people that walk onto the lot have cash for down payment/deposit, are typically employed but credit challenged. SEADRA System dealers are able to supply credit challenged consumers with quality, reliable transportation at a reasonable rental rate while improving cash flow and profit.

“When you put up a sign that says 'Rent to Own Cars', it’s like kicking an ants nest," says Cochran. "People see the sign and come in."

For more information contact SEADRA, call 877-573-2372 or visit the website at www.seadraonline.com 

 

 

 

RTO Online is the official channel for Rent-to-Own Industry News and the only independent source of news for the rent-to-own, rental-purchase, lease-purchase trade. RTO Online (Rent to Own Online) represents the choice of the entire RTO Industry for trusted information, as it happens.

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