Under the current market conditions, with new car inventory at historic lows, dealerships’ used car programs are more important than ever as a revenue and cash flow source. That puts increased focus on your…
Why eContracting and Digital Retailing Go Hand-in-Hand
More and more dealerships are seeing the value of digital retailing for bringing in customers from a variety of online sources to help counter declining retail profit margins. Consumers are definitely shopping for vehicles…
Data Safeguards & Identity Theft Protection: F&I Compliance Tip
Identity theft and data breaches continue to be a serious and ongoing issue for consumers and businesses. In fact, according to the U.S. Department of Justice, about 9% of U.S. residents age 16 or…
How eContracting Works with Aftermarket Products
Aftermarket sales are an important part of the deal process, but sometimes there is confusion about how eContracting figures in. For each aftermarket product, there are two types of contracts: one with the aftermarket…
7 Features Your Compliance Software Should Have
With the constant threat of audits, fines and lawsuits, every dealership must take compliance seriously. Fortunately, there are cost savings to be found in integrating finance and sales flow compliance functions. Here are seven…
eContracting and Data Security
Dealerships collect a significant amount of personally identifiable information (PII) about their customers in the process of selling them a vehicle and arranging financing. Information including the customer’s name, date of birth, place of…
Don’t Play “Hot Potato” With Adverse Action Notices
As much as your dealership would like to be able to sell to every customer, sometimes it doesn’t work out. Maybe a customer was credit-challenged, so you decided not to send their application to…
How econtracting can improve your dealership’s bottom line
When a dealership is considering a switch to electronic contracting from traditional paper contracts, it’s important for them to figure the value they’ll receive from modernizing their processes. Some paper contract expenses are easy…
F&I Compliance Tip: Red Flags Rule
Designed to prevent your dealership from becoming a victim of identity fraud, the “Red Flags Rule” requires your dealership to develop and implement a program to detect, prevent, and mitigate identity theft.
3 Things to Know About Risk-Based Pricing Notices
Many of your dealership’s compliance responsibilities are designed to inform and protect consumers as they make financial decisions. That is definitely the case for the Federal Trade Commission’s Risk-Based Pricing Rule of the Fair…
Improving On Your Paper Contracting Workflow
When it comes to switching from paper contracts to eContracting or digital contracting, some dealerships have a hard time letting go of the workflows that they are used to. Even when they realize that…
The 5 Ws of Privacy Notice Compliance for Dealerships
Your dealership’s privacy notice may seem like just another piece of paperwork, but it’s a vital part of your compliance plan. The federal and state consumer protection regulations that require privacy notices address a…
