Search Results

Best Match Date Posted
Close
Expand All
Results: 17
Manage the Red Flags Process, Not the Report

Manage the Red Flags Process, Not the Report

A dealership sold and financed a vehicle to an identity thief, even after seven red flags were identified. Truly managing the process means vetting and clearing any red flags before delivering the vehicle.

October 7, 2021

The 5 Key Credit Determinants

The 5 Key Credit Determinants

There are five key credit determinants that lending institutions take into consideration when making the decision to extend credit.

September 2, 2021

Can I Charge for a CPO?

Can I Charge for a CPO?

All four of our currently available data points suggest that a dealer cannot charge a consumer for a CPO warranty at the point of sale.

July 29, 2021

Credit Application 101

Credit Application 101

A compliant credit application process is a pivotal part of the job. Do not let the process slip or a dealership could find themselves in some deep water.

June 22, 2021

Out of Dealership Delivery

Out of Dealership Delivery

We all know identity theft is running rampant across the nation, making it even more important for dealers to do their due diligence when it comes to the digital delivery process.

May 18, 2021

Compliance Is Not a Program Du Jour
A Life Lesson on Compliance

A Life Lesson on Compliance

One of the most important things a dealership can incorporate is consistent processes, and that includes a defensible paper trail.

February 25, 2021

Salespeople are Compliance Weakest Links
When Should I File FinCEN 8300?

When Should I File FinCEN 8300?

Knowing when to file FinCEN 83011 is serious stuff that could subject the dealership to significant fines after an audit. A little bit of training upfront could avoid some pain later.

November 3, 2020

But … the System is Down

But … the System is Down

Most dealers rely on one or more software providers to manage and document all their transactions and many businesses count on a robust disaster recovery plan in the event their IT infrastructure fails.

October 20, 2020

OFAC is Required, Not Recommended

OFAC is Required, Not Recommended

Checking OFAC is not a recommendation – it is required by federal statute. Not taking it seriously could result in major consequences for the dealer.

September 29, 2020

Lessons From the Lockdown

Lessons From the Lockdown

Where we had previously been moving at a sloth pace to digitize the entire buying process, the auto industry is accelerating many processes in response to COVID-19.

September 17, 2020

Lessons From an I-Team Investigation

Lessons From an I-Team Investigation

A dealership was recently discovered to have a prevalent policy and practice of inflating consumers’ incomes to obtain finance source approvals. Reading between the lines of the story, there are a variety of lessons to be learned.

September 3, 2020

Dealership Uncovers Payment Packing Scheme
Kicking the Trade

Kicking the Trade

Kicking the trade is an old-school tactic employed by unscrupulous sales people, sales managers, and F&I managers. Being aggressive and going after every possible deal, while employing a deceptive practice to finalize the sale is simply not worth the risk.

May 26, 2020

a Bobit media brand

Create your free Bobit Connect account to bookmark content.

The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!

Create Account