MINNEAPOLIS -- Wolters Kluwer Financial Services announced that it has partnered with the California New Car Dealers Association (CNCDA) to develop and market Wolters Kluwer Financial Services’ automotive retail installment sale contracts. Wolters Kluwer Financial Services markets its retail contracts under the Bankers Systems brand name.
Form Source, the forms reseller division of the CNCDA, will offer the new paper contracts for sale to its member dealers. The contracts are also available in an electronic format through Wolters Kluwer Financial Services’ Web-based DocOne document engine, or in a single laser printer format.
The CNCDA is the country’s largest state association of franchised new car and truck dealers with over 1,350 dealer members.
"Because of Wolters Kluwer Financial Services’ regulatory monitoring capabilities, we are able to provide our members access to retail contracts that will help ensure their retail credit transactions meet stringent federal and California state laws, as well as the business needs of the dealership," said Peter Welch, CNCDA president. "This is yet another way we can help our members find the tools and services they need to maintain and grow their business in a regulatory environment that is constantly changing."
Monitoring regulatory changes that impact the motor vehicle industry can be cumbersome and time-consuming for auto dealers and lenders alike. Wolters Kluwer legal and compliance experts monitor these changes, helping relieve this burden facing the indirect lending market. Wolters Kluwer motor vehicle retail sales installment contracts are created and maintained using the company’s compliance content, which is built upon more than 50 years of experience and knowledge behind its Bankers System product line.
"Wolters Kluwer Financial Services delivers the compliance expertise and tools needed to help lenders and dealerships meet changing regulatory needs, which allows them to focus on growing their business," said Kevin Kopp, director of indirect lending at Wolters Kluwer Financial Services. "Our partnership with the CNCDA will allow greater access to these tools for auto dealerships within the California market."