The Road to ROI with F&I

Important Tips (and Laws) to Help You Stay Consistent with Deal Audits [Part 2/2]

Posted by Vanguard Dealer Services on Apr 5, 2021 4:52:20 PM

Top 10 Dealership Laws and Regulations

As we have already discussed, the automotive retail industry faces a complex challenge of complying with the stringent legislation as set by state and federal governments. Many dealerships have often fallen short of expertise, time, and workforce to uphold the mandatory requirements.

In part two of our article, we break down the regulatory language and jargon to help you understand what the federal and state is required of you.

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

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

Innovative Tips to Stay Consistent with Deal Audits

Posted by Vanguard Dealer Services on Mar 1, 2021 9:30:00 AM

In the automotive industry, laws and regulations are always being updated and changed. It’s essential to keep up on the latest information and news and also be consistent with Deal Audits. Here are a few tips to consider when needing to keep your dealership compliant.

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

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

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

5 Ways to Keep your Dealership Compliant with State & Federal Regulations

Posted by Vanguard Dealer Services on Apr 1, 2019 1:26:03 PM

 

Dealership compliance is a vital and necessary part of running your business correctly. Dealership compliance is the only way to avoid expensive lawsuits and maintain a good reputation. Customers remain loyal to a dealership with compliance training because following compliance laws helps to build trust. With laws changing continually and the introduction of new employees to the dealership, ensuring compliance is a difficult task. These tips can help you maintain compliance in your dealership at all times.

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

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

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