HANOVER, Md. — With more buy-here, pay-here dealers
considering leasing activity, the National Vehicle Leasing Association put
together a special educational track focused on the lease-here, pay-here
industry for its annual conference next month.

The comprehensive day-long program on the LHPH business is being
offered on April 23 at the NVLA's "Road to Success" Conference.

"BHPH dealers are finding leasing an essential alternative
to traditional auto financing to compete and profit in today's changing market
and regulatory environment," NVLA executive director Jack Tracey said. "This
conference track presents the critical information a dealer needs to evaluate
and enter the LHPH business."

Tracey noted that all sessions are conducted by recognized
industry experts and are designed for:

—BHPH dealers, owners and management

—LHPH operators
interested in comprehensive leasing education

—Individuals who want
to get into the LHPH business

Segments of the LHPH agenda include:

Legal Overview

Angela Maynard Shovein, a partner at Hudson Cook and the newly
appointed counsel for NVLA, will discuss some of the more difficult issues
facing lease transactions: pick up payments, security deposits, purchase
options cash due at lease signing and more. Shovein will also discuss pros and
cons of different legal structures for LHPH operations.

To Lease or Not to Lease: That's the Question

When considering entering into the leasing of BHPH vehicles.
NVLA said there are many facets and models to consider. 

"Defining what a lease actually is and comparing it to the
conventional model will give those attending a base to start this endeavor from,"
Tracey said.

Tracey highlighted this session with Pinnacle Auto Lease president
Jim Holman will compare leases and conventional loans as they relate to taxes, related
finance companies (RFC), defaults, bankruptcies, customer retention, insurance
and more.

In addition, the discussion will cover the income stream of
the lease, a close-up view of the lease sales process and provide plenty of
time for Q&A.

Keeping Your Business Afloat

When assembling this session, Tracey proposed the question, "You've
ventured into LHPH, now what?"

NVLA highlighted this session Ken Sevier, vice president of
the Williams & Stazzone Insurance Agency, will dive into the areas of the
LHPH business that leave dealers exposed to liabilities.  The session is designed to make the dealer
fully aware of what could be lurking around the corner and be proactive in the
prevention of areas of liability.

The topics are to be broken into three areas: general
leasing liabilities, garage liability exposure and the exposure of physical
property

Residual Setting Strategies

Manheim chief economist Tom Webb is on tap to be a part of a
session geared to provide an overview of trends in the lower priced
used-vehicle market and insights into setting residual values.

Taxes: Advantages, Complications and Reporting

This session with Michael North, director at Katz, Sapper
& Miller, will discuss the potential advantages, complications and various
decision points when determining if  LHPH
is appropriate for your situation.

"We will also discuss the federal income tax, state income
tax and financial reporting issues surrounding LHPH," Tracey said.

LHPH Funding Strategies

Tracey emphasized that funding of a LHPH operation is of
paramount importance. Ed Kaye, president of Advantage Funding, will provide a
detailed overview of what operators need to do to provide capital for a LHPH
operation.

All of the sessions will take place during the NVLA's
conference at Worthington Renaissance Hotel in Fort Worth, Texas. Registration
details and more can be found at www.nvla.org.

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