Search Close Menu

Tag Search Result

ACE

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.

Read more

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.

Dealership Uncovers Payment Packing Scheme

Following a few simple recommendations puts a dealership one step closer to a solid, defensible compliance strategy.

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.

Compliance Isn’t Just for the Finance Office

We should call it transaction compliance, rather than F&I compliance.

Preloads, Profits, and Payment Packing

The F&I industry continues to be plagued by malfeasance at the retail level. Attorney and compliance expert gets P&A executives up to speed.

How to Implement a Compliance Management System

Agents can and should help dealers design, install, and enforce their federally mandated CMS. Luckily for everyone involved, the instructions are freely available.

4 F&I Scenarios That Can Lead to Bank Fraud

Expert lists four all-too-common situations in which failing to understand underwriting guidelines or falsifying required stips — by dealership or finance source personnel — can constitute not just noncompliance but outright fraud.

Proper Desking Prevents Payment Packing

Despite improved industry education and a slew of regulatory enforcement actions, packing payments remains a popular pursuit at dealerships around the nation. Here’s how to prevent this highly illegal practice before it starts.

Read more

Save the Date: Industry Summit Heads to New Orleans

This year’s Industry Summit will be held Nov. 4–6 at the New Orleans Marriott, offering the nation’s premier advanced F&I training curriculum, new and returning tracks and events, and free admission for the first 100 dealers and general managers who sign up when registration opens this summer.