The laws surrounding how we should collect and use personal data about individuals is set to change very soon. And that’s big news for car dealerships, large and small. The original Standards for Safeguarding Customer Information took effect in 2003 but the FTC amended it in 2021. These latest changes....
Ben Franklin once said, “In this world nothing can be said to be certain, except death and taxes.” While we in the automotive IT industry certainly cannot do anything about the latter that Mr. Franklin stated, we can sure try to ease the burden of taxes. Specifically, how to keep....
Customer-facing roles like sales and marketing, are usually considered the ‘front-office.’ Roles that don’t interact with customers, like accounting, HR, operations, and others are considered ‘back-office.’ The back office may not be the most exciting part of your company, but it’s actually a crucial component to a well-run business. The....
It seems like the economy is all over the place these days. This time last year, demand was out-pacing supply with consumers spending like never before due to a post-COVID rebound. The subprime auto industry was on fire as people scrambled to buy whatever vehicle they could get their hands....
Data security has become a hot topic over the last few years as companies are adopting a digital strategy and taking their business to the cloud. It feels like every week there is a story about data breaches that put both a company’s and its customers’ valuable information at risk.....
Credit Union Direct Lending (CUDL) delivers enterprise lending solutions and technology to over 1,100 financial institutions, 14,000 auto dealers as well as retailers and medical providers nationwide. CUDL is committed to delivering products and solutions that meet the demands of today’s and tomorrow’s financial landscape by bringing innovation and expertise....
Are you looking to streamline the process of adding credit applications to your DMS? Do you need a way to bring leads in but do not require a CRM? With the standalone credit application through cyclCRM, you are able to automatically bring applications into Deal Pack from your website. Deal....
In today’s fast-paced world, it can be difficult to keep up with physical contracts and paperwork from the day-to-day operations of a dealership. This is especially true during this time of the pandemic when many BHPH and LHPH dealerships have experienced record setting sales periods. The solution to this has....
Collections is one of the most important aspects of the BHPH industry. Selling cars is obviously important too; however, the ability to continually collect those periodic payments can make or break a BHPH dealer. Here are three tips for being able to maximize your collections potential: Ensure your dealer management....
A lesson we have all had to learn is that promises, no matter how important, can be broken. Collectors in the subprime industry are constantly reminded of this truth. They may finally contact a customer who agrees to pay on a specified date, just for the customer to go back....