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A new integration with ConnexPay is designed to give third-party administrators, agencies and dealers faster, more flexible payment options, improve efficiency and create profit opportunities.
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Accountant David Keller, CPA and CFE, details how buy here pay here sales and collections and having a related finance company (RFC) can complicate accounting.
Read More →Business development expert Greg Wells outlines the building blocks of a profitable BDC, including determining the basic functions your BDC will perform, which employees are in the BDC, pay plans and how the BDC can evolve to take on more tasks in the dealership.
Read More →At Bergeron Auto, compliance is taken seriously. Dealer Denis Bergeron discusses why his dealership in Metairie, La., takes a proactive approach to maintaining compliance.
Read More →Dealers who ignore rules and regulations they’re required by law to comply with and instead hope to fly under the radar unnoticed by the Federal Trade Commission and Consumer Financial Protection Bureau might want to ask themselves the following questions posed by Attorney Tom Hudson in this article.
Read More →Santa isn’t the only one making a list and checking it twice this time of year. The CFPB and the FTC are making lists that will be used to determine who is naughty and who is nice. Attorney Nicole Munro poses some questions dealers should consider to put together their own compliance checklists.
Read More →There are risks involved with all third-party relationships. Chip Zyvoloski, senior attorney within the Indirect Lending business at Wolters Kluwer Financial Services, explains that to protect the dealership’s reputation, dealers should complete due diligence on your third-party vendors.
Read More →Technology has impacted every dealership department, and technology expert Allen Dobbins explains how the F&I department has been impacted by technology.
Read More →Attorney Thomas Hudson poses two scenarios about how dealers comply with the Safeguarding Rule. One scenario is about a dealer who initially had good intentions but allowed compliance cobwebs to build up, the other is about a dealer who implements and maintains a compliant process.
Read More →Attorney Nicole Munro discusses disclosures required by the Equal Credit Opportunity Act and its implementing Regulation B, along with the Fair Credit Reporting Act, when a consumer applies for secured credit.
Read More →Do you watch and calculate how many times your inventory turns each year? Do you know what your return on inventory investment is? David Keller, automotive industry accounting expert, explains how to determine these things and more.
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