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The agency has made it clear in recent enforcement actions and warnings, in auto retail and other industries, that advertised prices must include all nonoptional costs to the consumer.
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CPA David Keller takes a closer look at the importance and responsibilities of an often-forgotten part of the dealership, the accounting department.
Read More →Expert David Missimer, Vice President and General Counsel of Automotive Compliance Consultants, clearly spells out the conditions under which auto dealers must provide an adverse action notice. Missimer explains exactly what dealers must know and when you must issue an Adverse Action Notice under the Fair Credit Reporting Act (FCRA).
Read More →Legal expert Thomas Hudson points out the important of a "integration clause" to preclude the buyer from later claiming the dealer orally promised to include in the deal the sun, the moon and the stars.
Read More →Expert David Keller discusses the importance of security systems and internal control when processing Electronic Fund Transfers (EFT) and Automated Clearinghouse (ACH) payments.
Read More →Jim Radogna, President of Dealer Compliance Consultants, discusses what vehicle conditions and history reports you should disclose to your customers. Jim also talks about how to determine if the vehicle you're selling should be classified as new or used.
Read More →Attorney Tom Hudson discusses why the practice of writing multiple contracts on the same deal is bad news and can cause dealers to run afoul of the federal Truth in Lending Act.
Read More →Author and CPA Dave Keller examines the best way to increase profitability in the parts and service departments.
Read More →A few words of caution from attorney Tom Hudson: if you fit any of these descriptions, you shouldn't be in the BHPH business.
Read More →CPA and certified fraud examiner David Keller goes over several measures dealers can take to protect their dealerships from internal theft and fraud.
Read More →If a finance company buys retail installment contracts from auto dealers in its home state, what happens when a consumer named in one of those contracts moves to a state with different laws from the company’s home state? Attorney Nikki Munro discusses a recent case that poses that very question.
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