The Road to ROI with F&I

Valentin P. Sanchez

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How to Achieve a Compliance-Focused Dealership

Posted by Valentin P. Sanchez on Jun 22, 2021 1:50:40 PM

Nowadays, there are multiple state and federal regulations regarding automotive dealerships. These regulations' primary intent is to protect consumers as well as employees from unethical practices. 

You risk paying hefty fines and other consequences if you run afoul of these regulations, not to mention the damage to your reputation. Thus, the best thing to do is always ensure you maintain a dealership that adheres to state and federal regulations. Below are the top five ways of ensuring your dealership remains compliant.

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Topics: Auto Dealer Compliance Fines, compliance, Automotive dealership compliance, F&I Compliance

How to Keep Up with Dealership Compliance

Posted by Valentin P. Sanchez on Jun 1, 2021 10:15:53 AM

Dealership compliance is a vital consideration, especially after the creation of the Consumer Finance Protection Bureau. It is your job to keep up with numerous regulations, from marketing to F&I and inventory. Although it seems like a lot of work, these five strategies can help keep your dealership compliant.

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Topics: compliance, dealership compliance, Automotive dealership compliance, F&I Compliance

Stay Consistent with Deal Audits

Posted by Valentin P. Sanchez on Apr 26, 2021 12:29:12 PM

If you are running a dealership, you must have known by now that having a robust internal control environment is a crucial success factor in your business. With the proper internal controls and consistent audits, your organization cannot only achieve the set goals but also guaranteed operational efficiency and effectiveness.

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Topics: compliance, dealership compliance, F&I Compliance, dealer audits

5 Effective Ways to Improve Your F&I Process

Posted by Valentin P. Sanchez on Apr 19, 2021 5:00:47 PM

DESIGNING A SUCCESSFUL F&I PROCESS FOR YOUR BUSINESS

Having a well-established F&I department is one of the most important things for financial growth. Establishing strong profit centers within your organization helps you ensure that the purchase process is well monitored by scrutinizing the customer. Some of the ways that the F&I process helps dealerships are; access client credit reports, review credit application, and budget clients' credit reports and leases or loans within the set guidelines of financial institutions such as banks, financial companies, and lease companies. Conducting a successful F&I process plays an important role in client engagement and attracting prospects through the opening.

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Topics: compliance, dealership compliance, Automotive dealership compliance, F&I Compliance

Important Tips (and Laws) to Help You Stay Consistent with Deal Audits [Part 1]

Posted by Valentin P. Sanchez on Mar 30, 2021 10:12:14 AM

Most automotive managers are so pre-occupied with bottom-line results (driving profits) above all else. And that's fair enough since today's auto retail industry is more competitive than ever. Nevertheless, the cowboy car dealer days are well over. 

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Topics: Auto Dealer Compliance Issues, compliance, dealership compliance, F&I Compliance, dealer audits

Keep your Dealership Consistent with Compliance for Success

Posted by Valentin P. Sanchez on Dec 14, 2020 9:30:00 AM

For dealerships to be successful, they must stay compliant with the latest state and federal regulations. By implementing an internal audit plan, you will employ the routine checks and balances your dealership needs for compliance.

Unfortunately, fraud does occur within automotive dealerships. By committing to a routine system of checks and balances, you will also strengthen your dealership against internal fraudulent activity. You will also feel confident that you are employing the best people and the best practices.

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Topics: compliance, dealership compliance, F&I Compliance

3 Reasons Why Your Dealership Needs to Hyper-Focus on Compliance

Posted by Valentin P. Sanchez on Sep 15, 2020 9:30:00 AM

While there are no laws that require you have to hire a compliance officer, there's a chance that without a hyper-focus on compliance, you could wind up breaking actual laws as a result.

Let us explain.

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Topics: Auto Dealer Compliance Fines, Compliance Fines for Automotive Dealers, compliance, dealership compliance, Automotive dealership compliance, F&I Compliance

5 Practices to Stay Consistent with Deal Audits

Posted by Valentin P. Sanchez on May 18, 2020 9:15:00 AM

Compliance with various state and federal rules and regulations is a crucial requirement for any business to thrive. The automobile dealership industry is no exception to this.  One effective way to handle compliance in this business is through the implementation of deal audits.

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Topics: compliance, dealership compliance

Ensuring Dealership Compliance with Key Regulations

Posted by Valentin P. Sanchez on Mar 16, 2020 9:30:00 AM

American car dealerships face a huge variety of laws and regulations. While failing to follow some of them may lead to losing money and clients, breaking certain rules could result in bankruptcy and imprisonment.

Let's go over the most important regulations to follow to ensure dealership compliance and smooth work of your company.

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Topics: compliance, F&I Compliance

Is Your Dealership Compliant?

Posted by Valentin P. Sanchez on Feb 17, 2020 9:30:00 AM

Dealerships are responsible for enforcing compliance with numerous State and Federal regulations. Violations of any of these regulations can be a real problem for your dealership, so it's important to have good practices in place when it comes to protecting yourself from liability.  What actions can you take to ensure that your dealership is in compliance? 

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Topics: dealership compliance

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