SARASOTA, Fla. — The chief executive officer of Leedom Group, who also is the dealer principal for a group of five buy-here, pay-here stores in Florida and Georgia, is aiming to create a new advocacy organization — one that can ensure Congress and other federal officials hear the concerns from this segment of the used-vehicle industry.

Chris Leedom recently launched the effort to form the Buy-Here, Pay-Here Dealer Advisory Council. Leedom believes the organization is needed so BHPH dealers are better represented because of the passage of wide-sweeping financial reform, which included the creation the Consumer Financial Protection Bureau.

"I believe we are at a very important time for our industry," Leedom insisted. "And though it is unlikely we can change or repeal the financial reform legislation, what we can do as dealers is, for once, speak with one voice.

"We must educate the regulators and end up with a reasonable set of regulations that protects both our customers and us. We must have and maintain an open and honest dialogue with the new CFPB," Leedom added.

Leedom went on to mention that he has already started discussions with nationally recognized auto industry law firm Hudson Cook as well as dealers in his firm's Twenty Groups. He has called for an organizational meeting of BHPH Dealer Advisory Council to be held at the upcoming 16th annual Leedom Group Buy-Here, Pay-Here National Convention, set to begin on Sept. 20 in Las Vegas.

"Our firm will commit significant resources to this effort, and I intend to lead and launch an initiative with any dealer that chooses to join and participate." Leedom declared.

"We will organize during a special session to be held at the National BHPH Convention and begin to meet and formulate comments and interact with regulators to insure that our industry has a seat at the table and is represented by dealers," he also stated.

Furthermore, Leedom pointed out he has made a personal financial commitment of more than $10,000 to the effort. He added other dealers already are willing to give their time and financial support, too.

Leedom insisted the new Advisory Council will be 100 percent dealer influenced and controlled.

"We will seek support from industry leaders and other sources but we need to shape our destiny and speak with one voice," Leedom noted.

In an invitation letter to dealers, Leedom didn't mince words about what the CFPB and federal regulators could do.

"Franchise dealer lobbyists secured an exemption for new-car stores from much of the legislation, but we BHPH dealers were thrown to the wolves and left to fend for ourselves," Leedom began.

"Even though we are already one of the most-regulated industries anywhere on the planet, we will now face additional scrutiny by a regulatory body whose mandate and authority is unprecedented in our nation's history. Very few groups or professional organizations have recognized or are addressing the potential impact to the buy-here, pay-here, lease-here, pay-here and rent-to-own automobile retail industry," he explained.

"I believe, as a dealer and CEO of the Leedom Group, a firm that has thousands of BHPH dealers as clients, I have a responsibility to muster a proactive, unified response to the changes and challenges that will be forthcoming in the months and years ahead. As an industry, we cannot afford the luxury to simply sit around and wait and to see what happens. The stakes are too high," Leedom also declared.

"We need a group of at least 10 to 20 key dealers to join me to help craft the message and carry the water on this critical undertaking," Leedom continued in his dealer invitation. "We need some BHPH ‘Minutemen' to help in the fight for our industry. I am fully enlisted and hope you will join me."

Leedom can be reached at (941) 371-7999 or via e-mail at chris@leedomgroup.com.