Excuses to Deflect Criticism
Don’t let lame excuses for non-compliance derail your dealer’s efforts.
Don’t let lame excuses for non-compliance derail your dealer’s efforts.
By providing certification, regular video updates and an annual recertification exam, the ACE Safeguards Specialist Certification Program is intended to help dealers meet the new Safeguards requirements.
A knowledgeable compliance officer talks the talk and walks the walk.
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.
There are five key credit determinants that lending institutions take into consideration when making the decision to extend credit.
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.
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.
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.
Implementing pricing guidelines is not a guarantee that the regulators will stay away, but properly implemented and managed, it should provide a plausible defense of your F&I pricing practices.
As we enter a new administration, dealers will need to continue navigating new sales processes while also reverting their attention to risk management and government regulators. Let’s take a look at the likely highest risk areas and discuss a plan to mitigate them.
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