Wolters Kluwer Financial Services is now offering captive finance companies, lenders and auto dealerships universal closed-end motor vehicle lease agreements for all 50 states.
Wolters Kluwer’s universal close-end motor vehicle lease agreements are designed to meet Regulation M requirements and any other state and federal requirements on auto leasing. Offered in both print and e-form, the contracts are suitable for transactions with equal monthly payments or single payment. Additionally, the contracts are customizable, allowing captives and lenders the ability to include products and features unique to their leasing programs.
These lease agreements help ensure auto leases are in compliance with current federal and state-specific regulatory requirements, while also helping simplify leasing and back-office processes.
By relying on Wolters Kluwer Financial Services’ standard lease documents, captives and lenders can significantly lower costs associated with monitoring regulatory changes and developing and producing their own lease contracts. For dealerships, a universal lease agreement allows them to simplify and eliminate the programming and inventory costs they incur when using lease agreements from multiple providers.
The contracts are maintained by Wolter Kluwer’s compliance experts, who monitor legislative and regulatory changes affecting the indirect lending finance industry in 51 U.S. jurisdictions, and are protected by the company’s limited compliance warranty.
“Our indirect lending business was created to help lenders and dealerships comprehensively address various aspects of regulatory compliance,” said Lee Domingue, CEO of indirect lending at Wolters Kluwer Financial Services. “This offering is yet another example of that commitment. By providing an industry standard for auto lease contracts, we can help lease companies, lenders and dealers simplify the leasing process for their organizations and the customers they serve.”