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…
Measure What Matters: Tracking Employee Statistics
You probably know how many cars are on your lot right now (or at least a good idea, we hope). Your accounting manager tracks payroll down to the minute. And you use smart data…
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…
Ask the Experts: 5 Tips For Measuring Employee Satisfaction
Dealership technology has come a long way. In the last year alone, rapid adoption of digital tools and technology has jettisoned the customer experience light years into the future. New tools now allow buyers…
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…
Drive to Success: Dealers Go Social to Connect with Buyers
With dealers adopting new digital tools and services during the pandemic, a new virtual model of the dealership was born. But, the pandemic not only shifted the way dealers and their staff catered to…
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…
Drive to Success: Digital Adoption Shifts the Post-Pandemic Experience
A rapid adoption of digital tools and processes was the make-it-or-break-it reality for the last twelve months. Dealerships without a solid digital foundation already were forced to overhaul the entire shopping, buying, and servicing…
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…
