Tim Condon, CEO LEAP Financial, to Participate on Nonprime and Subprime Finance Panel at the Auto Finance Summit in Las Vegas

SAN DIEGO--October 19, 2011: LEAP Financial, an auto leasing company serving consumers who have difficulty obtaining credit, confirmed that Tim Condon, CEO and Founder, will be discussing Nonprime and Subprime Finance at the upcoming Auto Finance Summit. The panel will focus on the changing face of non-prime finance, underserved credit niches and liquidity issues in auto finance.

“Finances for the average consumer are unlikely to improve significantly for the foreseeable future, and lenders need to continue to find ways to work with customers who have a willingness to pay, but have limited resources”

The Auto Finance Summit, presented by Auto Finance News, is one of the industry's largest summits for auto lending and leasing professionals. It will be held in Las Vegas on Oct. 26-27, 2011. LEAP is also exhibiting at the conference at Booth 401.

"I am excited to be participating on this panel as I believe the auto industry is well positioned for growth, albeit in a 'new normal' economy', said Tim Condon. 'The auto financing sector looks strong with defaults near record lows and good margins on new originations. Capital is available for borrowers with the highest credit quality, but there are still challenges for people with less than perfect credit."

According to Condon, lenders will likely remain more disciplined than in the past as the credit cycle matures, but there will be increased competition for consumers with better credit quality. While subprime lending is increasing again, it is nowhere near the level it was in 2006. Coupling this with lower average income per capita, consumers are keeping their cars longer, deferring their purchases of new vehicles.

"Finances for the average consumer are unlikely to improve significantly for the foreseeable future, and lenders need to continue to find ways to work with customers who have a willingness to pay, but have limited resources," noted Condon. LEAP's unique solution is attractive to lenders and consumers; LEAP allows severely delinquent borrowers to remain in their vehicle."

Condon is an expert in non-prime auto finance and has recently published 'Seven Myths about Repossession' that highlights opportunities for lenders to think differently about managing their auto loans portfolios.

About LEAP Financial

LEAP, headquartered in San Diego, CA, is an auto leasing company serving consumers who have difficulty obtaining credit. The company's unique product enables customers who are unable to qualify for traditional financing to lease a vehicle. Customers are sourced through referrals from business partners and direct-to-consumer marketing. Backed by Austin Ventures and staffed with experienced auto finance professionals, LEAP is currently operating in most states. for more information.

About Austin Ventures

Austin Ventures ("AV") has worked with talented entrepreneurs to build valuable companies for over twenty-five years. With $3.9 billion under management, AV is the most active venture capital and growth equity firm in Texas and one of the most established in the nation.