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As car shoppers enter their personal information in web forms in search of the best offer, it’s important for dealers to have clear guidelines on data they collect.
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Whether businesses interact in person or virtually, they must do so in a safe and secure manner to retain customer trust and comply with applicable law.
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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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The coronavirus appears to be driving the automotive industry to selling vehicles remotely, a radical departure from the traditional dealer model. By identifying the issues that dealers need to contemplate, we find some solutions to the new direction we’re heading.
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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.
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As rules and regulations evolve, so must your employee handbook. Here is the basis for updating your dealership’s handbook today.
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As COVID-19 has lead to more vehicles being financed and purchased online, the ability of the F&I department to sift out synthetic fraud will be increasingly valuable to them. F&I managers are encouraged to take another look at available technologies to identify synthetic fraud when practiced against their dealership.
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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.
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Dealers need to ensure they are remaining ADA compliant while catering to various groups of consumers.
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Agents can and should help dealers design, install, and enforce their federally mandated CMS. Luckily for everyone involved, the instructions are freely available.
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