Live deals
Active Broker deals
No active matching deal is available in the current live deal source. Request a current quote for the exact vehicle, mileage, and payment structure.
Explore
Broker research paths
Move from research into lease pages only when the shopping intent is clear.
Explore
Broker lease paths
Relevant lease pages connected to this research path.
01
Two different California license categories
A franchised dealership in California holds a dealer license under the Vehicle Code's occupational licensing chapter, with the franchise agreement to sell new vehicles of a specific brand. An autobroker holds a California dealer license with an autobroker endorsement under section 11733, and acts as the agent of the retail buyer rather than the selling dealer. The two licenses overlap on the dealer-license base but differ on the buyer-agent endorsement. A franchised store with no autobroker endorsement is not authorized to act as a broker on the buyer's behalf; an autobroker without a franchise is not the entity selling the vehicle. Understanding which license applies to which party clarifies who the buyer is dealing with at each step.
02
Who pays whom in a broker-mediated lease
Three payments move during a typical broker-mediated lease. The buyer pays the lender of record (usually the captive lender like BMW Financial Services or a bank) the monthly lease payments and the due-at-signing amount, all governed by Regulation M's pre-contract disclosures. The captive lender pays the selling dealer of record an amount that reflects the lease cap cost minus dealer reserve. The buyer also pays the autobroker an autobroker fee, disclosed in the section-11735 agreement before the buyer becomes obligated. Three different parties, three different payment paths, all disclosed in writing on different documents the buyer keeps.
03
What each licensed role actually controls
The franchised dealership controls inventory placement, F&I product offerings, the vehicle's first registration through DMV, and physical delivery. The autobroker controls sourcing across multiple dealers, quote presentation, the autobroker agreement disclosures, and the workflow that takes the buyer from inquiry to signing day. The captive lender controls the residual percentage, the money factor, the program incentive structure, the credit decision, and the post-sale lease servicing. None of those role-specific controls is shared; pretending they are creates expectations the wrong party will fail to meet, since none of the parties has the authority to fix it.
04
When a dealer also operates as a broker
Some California dealerships hold an autobroker endorsement on the dealer license and operate broker desks alongside their franchise sales floor. When that hybrid structure exists, the section-11735 disclosure rules still apply: the buyer must receive the autobroker agreement before becoming obligated, naming the autobroker fee and the buyer-agent role. The disclosure becomes especially important in the hybrid setting because the same physical location holds both sides of the transaction. A buyer in this scenario should ask explicitly which side of the license is operating on their deal and confirm in writing which set of disclosures applies.
05
Decision rules for shoppers
A shopper facing the broker-versus-dealership choice can use a small set of decision rules. If the configuration is rare or the buyer's time is the binding constraint, the broker channel earns its fee. If the configuration is high-volume and the buyer is comfortable negotiating in person, the direct dealer path is fine. If the buyer wants the autobroker fee structure on paper before any credit application, the broker channel suits that preference, since the agreement is a precondition under California law. 021 Auto Leasing operates as a California-based broker channel and is not the lender of record on any quote; live monthly payments appear only on the active deal feed.
FAQ
Common Questions
Can a single business be both a dealer and an auto broker?
Yes, with the autobroker endorsement on the California dealer license. The buyer still receives the section-11735 autobroker agreement on broker-side transactions; the dual role does not waive the disclosure.
Who is responsible if there's a problem after the lease is signed?
The lender of record handles the lease account. The selling dealer handles vehicle delivery and warranty service. The broker is generally not the post-sale contact for ongoing lease servicing; the contract names the responsible parties.
Does the FTC regulate dealer advertising in California?
FTC truth-in-advertising rules apply to auto dealer advertising nationally, including in California. Dealers cannot misrepresent price, financing terms, or availability in advertising covered by the rule.
Is the broker fee tax-deductible?
Tax treatment of an autobroker fee depends on the buyer's specific tax situation. The autobroker fee itself is disclosed under section 11735 as part of the agreement; tax advice is outside the scope of the broker channel.
Explore
Choose your next step
Start here
Next steps
021 Auto Leasing
talk to an advisor
Use this page as a decision support path, then move into a quote request when the vehicle, mileage, and payment structure are clear.