The Road to ROI with F&I

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

Dealership Compliance: State and Federal Regulations

Posted by Vanguard Dealer Services on Jul 13, 2020 9:30:00 AM

Dealership compliance has never been more important. Businesses are going to suffer in the wake of the pandemic. Do not put your dealership at a disadvantage by falling out of compliance with state and federal regulations. With more people getting out and about dealerships are opening again.  Make sure your dealership is ready to float in the sea of uncertainty that is today's consumer market. Is your dealership compliant with federal and state regulations?

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Topics: Auto Dealer Compliance Fines, compliance, dealership compliance, Automotive dealership 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

Dealership Solutions: The Importance of Protecting Customers

Posted by Vanguard Dealer Services on Mar 18, 2019 1:30:00 PM

Before a customer buys a car from your lot, they want to ensure that they are protected. Protection programs can give car buyers peace of mind as they walk out of your finance and insurance (F&I) office. They can leave worry free. But how important is providing protection for customers?

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Topics: Vehicle Service Contract, VSC, Finance and Insurance, compliance, Customer Service

Why Lack Of Dealership Compliance Needs To Be A Fireable Offense

Posted by Vanguard Dealer Services on Jul 28, 2016 12:08:19 PM

Every dealership needs to have protocols that are to be followed. Sales team members need to be aware of dealership compliance due to the legal requirements of disclosing all information. Further, it should be a fireable offense in the event that a team member fails to maintain dealership compliance.

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Topics: F&I, compliance, dealership compliance

Avoid Costly Dealership Compliance Pitfalls

Posted by Vanguard Dealer Services on Jul 7, 2016 10:30:00 AM

In any dealership, compliance issues waste time between the sales office and the finance office. Stipulated documentation is often disputed, glossed over or entirely dismissed by sales managers with a big gross in their sights. There is a marked tendency among sales staff to shirk responsibility for missing documentation once a deal reaches the finance department. Missing documentation prevents deal finalization, sometimes resulting in a delay of weeks before a contract is properly assembled. All such activity results in customer and employee stress, creates friction between departments, and wastes money.

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Topics: compliance, dealership compliance

Survey Finds Customers More Comfortable with Trained and Certified Staff

Posted by Vanguard Dealer Services on Jun 21, 2016 11:30:00 AM

A survey completed in March found that 73% of customers are more comfortable working with dealership staff who have completed compliance training and have certificates on display. Business managers are imperative to maintaining a successful dealership, the best business managers are honest, trustworthy, ethical and empathetic. Consumers trust staff who display clear understanding and thorough knowledge of all products offered. Proper training for business managers can lead to more innovation, increased sales, and help customers feel more comfortable.

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Topics: compliance

The Importance of Ensuring Dealership Compliance

Posted by Vanguard Dealer Services on Jun 15, 2016 1:28:46 PM

Automotive dealerships face a staggering number of federal and state regulations. Failure to comply with these regulations can result in penalties such as warnings, monetary fines, suspension or revocation of an automotive dealer’s license or even imprisonment. With dozens of regulations pertaining to a wide range of topics from equal opportunity standards to odometer status to credit reporting, it can be a challenge to ensure dealership compliance without the help of trained professionals.  Below are just a few of the many standards with which a dealership must comply. 

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Topics: compliance, dealership compliance

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