Team One Research and Training, a division of the Summit Group, has partnered with LexisNexis, a provider of comprehensive information and business solutions, to create an in-dealership compliance certification and training program for automobile dealers.
The one-day training seminar provides a single source solution for compliance issues, and integrates the dealership departments into a simple, turnkey solution. The seminar can take place at the dealership or a pre-arranged site by the dealer.
The program is divided into two segments, one for the sales department and another for the F&I and senior management. Topics covered include: Red Flag Rules and policy implementation, Federal Trade Commission, Fair Credit Reporting, Gramm-Leach-Bliley Act, and the Lexis Nexis Auto Dealer, a comprehensive dealer compliance program. In addition, Team One's F&I training will also be offered in the process as an option or as part of a comprehensive package.
Upon completion of the training, the dealership will receive written certification of meeting their burden of compliance training and process implementation.
Team One developed the program in response to dealer requests for a one source solution to the myriad of new regulations regarding the Red Flag Rules, Gramm-Leach-Bliley Act, and F&I disclosure rulings the automobile dealer is required to have in place by Nov. 2008.
"We are very happy to be able to provide this package for the dealers. This is exactly what they have been telling us in the field that they wanted," said George Angus, Team One and Summit Group automotive spokesman.
"We already have produced the top F&I departments using our F&I process and incorporating the F&I training with total dealer compliance allows the dealer to maximize profits while not having to wade through the maze of regulations and rules. It really makes it easy and inexpensive for the dealer."
Total cost for the program is $3500, plus airfare and one night lodging expenses for the trainer. The training will be conducted by Angus, who has 15 years of experience with compliance issues.