Jim Aiken, founder of Automotive Lease Guide and a pioneer in indirect leasing, died on March 2, 2004. He was 87. Aiken was the youngest person ever awarded a General Motors dealership. In 1964, Aiken formed Automotive Leasing Group, an indirect leasing business. He gave his dealers guidelines for residual values on mimeographed sheets, which later became known as the Automotive Lease Guide (ALG). Though he retired in 1977, Aiken helped to develop both residual value insurance and GMAC’s indirect leasing program.

Originally posted on Fleet Financials

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