An Unlikely Compliance Model
Look west for a state that's tried and tested a structure worth following.
Look west for a state that's tried and tested a structure worth following.
Follow these steps to have confidence in what you're dealing with.
Don’t let process shortcuts short-circuit all the hard work your dealer has put in to make their dealership the success it is today.
When hit with the compliance bombshell, you need to understand what compliance means to your client and what exactly you are being asked to do.
You can create a simple test deal file and pop quiz to administer during the interview process that will tell you how compliant the applicant really is, vis-a-vis your compliance standards.
Don’t let lame excuses for non-compliance derail your dealer’s efforts.
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.
Here are three popular excuses when dealership managers try to explain away a compliance violation — don’t let these non-excuses derail your compliance efforts.
Even with the benefits of moving into the digital world, some risks have also amplified. Taking some of these precautions can help your dealer avoid the angst of identity theft.
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