What does criminal conduct have to do with F&I and my new toaster? Here you go… I recently bought a toaster. (Please hold your applause until the end of the article.) The toaster is so generic it does not even have a brand name on the instructions. “Instructions,” you ask? For a toaster? Yes, it came with a full-color, multi-step instruction, which is … [Read more...] about Is Your F&I Compliance “Toast?”
One of my favorite calls receive are from former customers or friends who know I am in the car business. They call asking me how they should buy their next vehicle. I no longer work at the dealership, but it is so much fun for me to help my family, friends, and former customers to purchase a vehicle as an independent third-party voice. Recently, a friend of mind … [Read more...] about Dealerships, do you even CPO? A Simple & Beneficial Approach
COVID-19 blind-sided us with an uppercut, right hook and hard hit to the gut. We may be down and a little dizzy, but we are not out for the count. I'm so proud of this country and multiple industries for answering the call of duty. Our manufacturers have switched over entire assembly lines. Dealerships have created new processes to accommodate online sales and employees working … [Read more...] about The Road to Recovery
Before we start exploring the reasons why every car dealer must conduct an on-site compliance audit in his car dealership, let us form an overview of its fundamental concept and notches of significance. There are federal guidelines that govern each department of a car dealership; for example, there is a Used Car Rule for the sales department and CAN-SPAM Act for the BDC … [Read more...] about Why Conduct an On-site Compliance Audit in Your Car Dealership?
No matter the size of your car dealership, it is in your best interest as a dealership owner to put tools in place that protect the reputation of your organization. With each new car dealership employing an estimated 70 people on average in 2019, the best place to start is within your company. Implementing a comprehensive compliance program that consists of regular audits, … [Read more...] about Importance of Whistleblower Hotline as Part of Dealership Comprehensive Compliance Program