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Guidelines on Application Retention for Dealerships

Posted by Vanguard Dealer Services on Dec 16, 2015 1:27:16 PM

Are you working at a dealership, or own one? Familiar with the guidelines on application retention for dealerships, specically the one you work for or own?  We are sure you have had a customer come in who is interested in purchasing or leasing a vehicle. During this process, at some point, you will run their credit. Now, as this is a standard procedure, what happens if that customer is no longer interested in the vehicle, or the original terms cannot be met? What happens to that customer’s application? Do you simply shred it because you do not want their personal information to be compromised? It is good that you are concerned about a customer’s sensitive information; however, this move can cost you in the long run. This is where the guidelines on application retention for dealerships comes into play.

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Topics: Application Retention

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