In the BHPH space, ensuring customer satisfaction isn't just about selling vehicles—it's also about providing exceptional service, even when it comes to refunds. Guaranteed Asset Protection (GAP) refunds play a crucial role in maintaining customer trust and loyalty. However, efficiently managing GAP refunds while adhering to regulatory compliance can be....
Introduction In the fast-paced world of automotive dealerships, every minute counts. Imagine arriving at work, ready to tackle the day’s tasks, only to find that your Dealer Management System (DMS) is completely down. Not just for a few minutes or hours, but for days. Panic sets in. How will you manage sales, payments, and....
Pulling credit helps Auto Dealers and Finance Companies assess the level of risk associated with financing a particular customer. It gives the ability to analyze factors such as payment history, outstanding debts, and credit utilization from a credit file. If you are interested in pulling credit or already pulling credit,....
Buy Here Pay Here (BHPH) dealerships serve a vital role in providing auto financing to individuals with limited credit options. One strategy commonly employed by these dealerships is accepting deferred down payments, allowing customers to delay their initial payment. While this practice can attract customers and facilitate sales, it also....
The newly introduced Consumer Automotive Resource and Safety (CARS) rule by the Federal Trade Commission (FTC) aims to combat scams and deceptive practices in vehicle shopping, particularly within the used car market. It mandates increased transparency and disclosure requirements for automotive dealers, ensuring that consumers have access to comprehensive information....
In today’s fast-paced world, managing your CPI (Collateral Protection Insurance) needs can be a daunting task. But what if there was a solution that could streamline this process? Enter Deal Pack, a comprehensive tool designed to handle all your CPI needs efficiently and effectively. Instant Communication One of the standout....
GPS devices and Starter Interrupt devices are becoming increasingly essential for BHPH and Finance Companies. These devices are a cost-effective way to protect assets, increase collections, and lower overall loss rates. With active GPS units, sold and unsold vehicles can be located at any time, with pinpoint accuracy. This is....
In the subprime market, loan collectors often face the difficult decision of whether they should be collecting partial payments from borrowers. On one hand, it can be seen as a way to recover some funds and potentially improve the borrower's financial situation. On the other hand, there are risks and....
If you are a dealership or a finance company that sells products such as GAP insurance, service contracts, credit life insurance, or other ancillary products, you may be wondering how to handle the situation when a customer pays off their loan early or trades in their vehicle. In this blog,....
The world of automotive sales can be a lucrative one, but it's also heavily regulated to protect both dealers and consumers. One facet of this industry that often requires careful consideration is the sale of "as-is" cars. These transactions, where dealers sell vehicles without warranties, come with their own set....