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JM&A Group to Offer 'Excess Wear and Tear' Protection For Leased Vehicles

7 September 1999

JM&A Group to Offer 'Excess Wear and Tear' Protection For Leased Vehicles

    DEERFIELD BEACH, Fla., Sept. 7 -- With the automotive
industry increasingly focused on customer satisfaction and retention, JM&A
Group is launching a new protection plan for automotive dealers to recommend
to their customers entering new vehicle lease agreements. The Lease Vehicle
Excess Wear and Tear Plan is intended to assist automotive dealers in
enhancing the lease experience for their customers, as well as complementing
existing leasing products.
    Typical lease agreements offer limited protection to the leaseholder.
However, with JM&A's new protection, customers will have a comprehensive
protection plan designed to protect them against the potential costs of an
excess wear and tear assessment at the end of their lease.
    "This protection offers the consumer additional peace of mind by
addressing several of the primary concerns associated with leasing, such as
charges at the end of lease term," said Dave Darnell, director of product
development. It covers items such as worn tires, paint damage, and stained
upholstery  --  things that the customer would normally be charged for at the
end of the standard lease agreement."
    In addition, the lessor benefits from easier collection of excess wear and
tear and mileage charges. This plan is a win-win situation for everyone.
    Covering up to $2,500 for excess wear and tear charges, as well as up to
1,000 miles (maximum of $0.15 per mile) for excess mileage charges, this
protection plan will help ensure that the customer's lease experience is
worry-free.
    JM&A Group, based in Deerfield Beach, FL, is one of the largest providers
of finance and insurance products in the automotive industry. As one of JM
Family Enterprises' core businesses, JM&A Group provides retail automotive
outlets with products such as service contracts, warranties, pre-paid
maintenance plans, gap protection, credit insurance and consulting services.
    JM Family Enterprises, Inc., ranked by Forbes magazine as the 22nd largest
privately held company in the United States, is a diversified automotive
corporation whose principal businesses focus on vehicle distribution and
processing, finance and warranty services, and insurance products and
services. In January 1999, the company was ranked by a survey in FORTUNE
magazine as the 23rd best company to work for in the United States.
Headquartered in Deerfield Beach, Fla., the company has significant operations
in Jacksonville, FL, Mobile, AL, Commerce, GA, and St. Louis, MO.

    Note:  This service is not yet available in Alabama or South Carolina.