Every few years, Brian Estridge meets a friend for lunch at a Potbelly sandwich shop. At the end of the meal, which in Estridge\u2019s case is usually the shop\u2019s signature A Wreck sandwich, the two sign a couple of papers. Estridge is then given the keys to his new car and he and his friend go their separate ways.\u00a0<\/p>\n
Estridge has just conducted a transaction with Fort Worth\u2019s D&M Leasing, the nation\u2019s largest consumer car leasing company.\u00a0<\/p>\n
\u201cThat\u2019s how easy it is, easier now that I\u2019ve done it a few times, but that\u2019s how I do it,\u201d said Estridge, a longtime sports broadcaster in the area and now president and CEO of Fort Worth Colonial Charities.\u00a0<\/p>\n
That customer-first approach and simple, laid-back transaction style is one reason Fort Worth\u2019s D&M Leasing is now celebrating its 50th anniversary, said Kelly Strausser, chief operating officer for Hernco, D&M\u2019s parent company.\u00a0\u00a0<\/p>\n
Rather than requiring customers to negotiate on a car lot or in an auto showroom, D&M consultants locate vehicles, handle trade-ins, negotiate on the customer’s behalf and manage delivery \u2013 often over the phone or, in Estridge\u2019s case, a sandwich. The process was designed to remove the friction that has long made car buying a source of frustration for consumers.\u00a0<\/p>\n
\u201cMore than 75% of our business is repeat and referrals,\u201d Strausser said.\u00a0<\/p>\n
That concierge service focus has proved successful for the company, which has seen fivefold growth since 2018, when Strausser became chief operating officer.\u00a0<\/p>\n
It\u2019s a long way for a company founded in 1976, when the nation was celebrating its sesquicentennial. Then, the company was owned and led by local auto dealers Don Davis and David Moritz. Mike Hernandez joined the company in the 1980s, eventually becoming president in 1990, and then bought out the two founders in 2005. The company moved its headquarters to Fort Worth from Grand Prairie in 2019, taking over the former Whitley Penn building at 1400 W. Seventh St.\u00a0<\/p>\n
Even if you haven\u2019t leased a car from D&M, it\u2019s likely you\u2019ve heard of them from their advertisements on theradio…\u00a0<\/p>\n
\u201cWhen Mike [Hernandez] started growing the company, talk radio was just beginning to grow itself, so it just worked and they kind of grew together,\u201d he said.\u00a0<\/p>\n
That advertising platform allowed D&M Leasing to deliver the message that its business model was distinct from a traditional car-shopping experience, said Strausser.\u00a0<\/p>\n
\u201cOur commitment to our customers is the client experience,\u201d said Strausser. \u201cPeople want a clear and transparent process. That\u2019s what they want, and that\u2019s what we\u2019ve done for 50 years. We were able to talk about that through the ads and then, of course, deliver on it.\u201d\u00a0<\/p>\n
That business model has proved not just rewarding for the customers but for the company as well. The company has grown every year, primarily organically, though it did purchase competitor Autoflex Leasing in 2025.\u00a0\u00a0<\/p>\n
Now, with offices in Fort Worth, Dallas, Houston and Austin, D&M Leasing has about 400 employees.<\/p>\n
And those employees tend to stay with the company. The average staff tenure exceeds 10 years at a time when the broader automotive industry sees annual employee turnover rates near 60 percent.\u00a0<\/p>\n
That stability is part of what makes the model work, said Strausser. \u201cCustomers return because they are working with the same people, under the same philosophy, year after year.\u201d<\/p>\n
That\u2019s been the case for Estridge. \u201cSame guy for 11 years now, I think,\u201d he said. \u201cHe knows how I use my car and what I need.\u201d\u00a0<\/p>\n
Strausser said car industry trends are only increasing the interest in leasing a vehicle.\u00a0<\/p>\n
The average car or truck loan is now 69-month, 84-month or seven-year loans at a record high interest rate of 22%, according to data <\/a>from automotive research firm Edmunds.<\/p>\n \u201cThat\u2019s a long time to try to pay off a vehicle when the average consumer switches vehicles every three to four years,\u201d said Strausser. \u201cTrends like that only make leasing make more sense.\u201d\u00a0<\/p>\n Bob Francis is business editor for the Fort Worth Report. Email him at bob.francis@fortworthreport.org.\u00a0<\/p>\n