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.
Law requires that dealers have policies, procedures, and processes in place to reasonably detect and prevent identity theft. Agents can assist their dealer-clients to ensure these updates are completed and solutions implemented.
While the processes necessary to complete digital remote deliveries have been available for a while, dealers were slowly transitioning from paper-driven to digital. Coronavirus has accelerated that transition in many dealerships.
An unspoken truth is that sometimes a drastic, calamitic action has to sideswipe a process to speed up the evolutionary process. The calamity known as COVID-19 is acting as an agent of revolutionary change in dealer’s sales processes.
New methods to qualify car shoppers could help your dealers sell more vehicles and F&I products, but alternative credit scoring is not without its pitfalls.
Agents can and should help dealers design, install, and enforce their federally mandated CMS. Luckily for everyone involved, the instructions are freely available.
Have your dealers nailed down their Red Flags clearance process? Compliance guru has a checklist agents can enforce with dealers and F&I professionals, to do just that.
Experienced agents know noncompliance isn’t limited to the F&I department. Help your dealers avoid harming customers or running afoul of regulators by kicking their kinks out of the box, off the desk, and away from the showroom.