In a perfect world we would be free of human error. Unfortunately, the world is not perfect; mistakes are made, and auditors are not known to be forgiving. Think of all the many pages of documents needed for the sale of a vehicle and multiply that by the number of....
In today’s times, with more and more people keeping their vehicles longer, it means that they will incur more mileage and also more breakdowns over the life of the vehicle. But with the rising cost of repairs, is it worth it to purchase an extended warranty? But what exactly is....
Paying bills has never been more convenient thanks to a British scientist creating the World Wide Web in 1989. 56% of Americans pay their bills online according to a study that tracked bill pay habits of consumers. Online payments offer the flexibility to pay anywhere, anytime. Whether stuck in a....
Is your dealership in a rural or urban location? What types of vehicles are your customers looking for? What are your best-selling units? What is your areas best-selling units? These questions can make or break a dealership in this industry. Without knowing who your customers are or what they....
Over the years, the way that dealers communicate with their customers has changed. In the past, dealers would generate a list of customers’ that they would mail letters to for prospecting, service reminders and even to wish the customer happy birthday. As technology has developed, these letters have become obsolete....
Poor credit is a major factor in Underwriting but what are the risks for the Subprime Lending Industry? Some may think that there isn’t any. While statistics may have proven that there is a direct correlation between repossessions and customers with “poor credit”, there are other factors that must be....
All dealers must follow The Equal Credit Opportunity Act (ECOA). This law protects the consumer and is a United States law, enacted 28 October 1974, that makes it unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction, based on race, color, religion, national origin, sex, marital....
Are your repossession processes consuming too much of your time? Would you like to make your recovery process as seamless as possible? Are you interested in getting connected with professionals that specialize in recovery and re-marketing? Well, the Recovery Database Network will do just that. The Recovery Database Network (RDN)....
Mindlessly sending unwanted and unknown calls to voicemail with the touch of a button is anything but uncommon. An email can easily get lost in waves of spam mail that floods inboxes everywhere. However, with an average of 93% of texts getting opened within 3 minutes of being received, texting....
Starting in 2020 the new FASB Lease Accounting Standards will go into effect. These Standards overall are not expected to have any major changes for the LHPH and Financing Companies, but will have a change in how their customers, the Lessees, will report them on their books. A couple of....