
If dealers observe a modicum of compliance protocols, they can contain almost all regulatory perils. Dealers and their trade organizations are a formidable political force and should be lobbying together.
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Don’t spot deliver a car unless you’ve considered all the signs of potential fraud.
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To meet and exceed modern consumer expectations at each step of the buying process, develop new techniques and use technology to help them discover, learn, and be validated in their decisions along the way.
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As we look at the market in Q3, there were a number of notable statistics that can help lenders identify trends and inform strategy.
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By leveraging credit technology, dealerships can process a transaction in less than 30 minutes and put the process in the hands of the consumer.
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While instincts are important, it’s even more critical to have access to the right tools and technology that can help lenders spot synthetic identity fraud before it happens.
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I propose that your F&I and sales disclosure compliance models mirror the sales and F&I processes at dealerships in California — what is required by statute in California, should be considered best practices in the other 49 states.
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Many scenarios exist where employees can leave an employer owing the dealership money. The likelihood of your being able to recover money for these purposes depends in large part on a handful of proactive processes and procedures.
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Even when supply and demand return to more normal cycles, the use of digital advertising technologies can put more power into the hands of each dealer and raise profit potential at the end of each month and year.
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We live in an ‘Age of Compliance Awareness’ and someone is always watching. We should care about what they see.
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