Lendco to Join Forces With Xerox Leasing Unit

Lendco Acceptance Corp., a Calabasas provider of auto leases, said it plans to join forces with LMV Leasing, a unit of Xerox Corp., in 11 Western states.

Under their agreement, LMV will use the financial resources of Xerox to fund loans and leases originated by Lendco. Lendco said the deal will enable it to expand into financing auto sales as well as leases.