"I don't have to agree, but I do have to comply," said an old employee and friend of mine named "Hank." He said it with a wry smile whenever he didn't agree with something I asked him to do. Then, he would do it because I asked him. And he would chuckle to himself. So who really wants to comply? No one, including your dog, when you tell him/her to "sit" or "stay." … [Read more...] about Don’t You Agree? Fundamental Questions Answered Regarding Dealership Compliance
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Prequalification Speeds Up the Purchase Process
A recent study by Deloitte looked at how dealers could improve the transaction purchase process to better address today’s consumers. It concluded that consumers want a quicker in-dealership experience than today’s typical process that takes more than four hours. Dealers overwhelmingly share this sentiment: Eight out of 10 dealers surveyed by eLEND said that the ideal … [Read more...] about Prequalification Speeds Up the Purchase Process
Soft Credit Pulls Are Not an F&I Compliance Shortcut
I was recently at a dealership where soft credit pulls were being discussed. Management was excited about pulling customer credit for less cost, and without regulatory issues. “Without what?” I asked. In response, the F&I manager explained that on a soft pull, the dealership did not have to worry about adverse action notices or other regulations. I asked where … [Read more...] about Soft Credit Pulls Are Not an F&I Compliance Shortcut