In an era where data breaches and privacy concerns are becoming increasingly prevalent, safeguarding consumer information has become a top priority for businesses across the subprime industry. Recognizing the need for enhanced data protection, the Federal Trade Commission (FTC) introduced the Safeguards Rule. This rule imposes certain obligations on businesses....

Working in the used car industry means you will be working with vehicles that may come with some very high odometer readings. This could be a difficult selling point for some customers, but pairing a good price with some tips customers can follow to extend the life of their new....

Running a dealership requires managing multiple aspects of the business, from inventory and sales to customer relations and finance. Amidst these responsibilities, it is crucial to prioritize compliance with the Soldiers and Sailors Act (SSCRA), which protects the rights of military personnel during their active service. Dealer management software (DMS)....

Are you tired of spending hours reconciling your bank statements manually? Say goodbye to tedious tasks and embrace the future of finance management with Deal Pack's brand-new Auto Bank Reconciliation feature. Simplify your financial workflows and experience unmatched efficiency with our cutting-edge technology. Here's why you'll love Deal Pack's Auto....

As a dealer, you know that managing inventory, sales, and customer relationships can be a time-consuming and complex process. However, thanks to the advancements in technology, you can now automate tasks in your dealer management software to streamline your operations and save time. In this blog post, we will explore....

Whether you’re a brand-new start-up entering into the underserved BHPH market or you’ve been enjoying the excitement of the dynamic sub-prime arena for 40 years, raising capital is a necessary step. This has become increasingly difficult.  Common ways to raise money would be to sell entire loans, sell portions of....

Digital signatures are quickly becoming the norm with widespread adoption and implementation. Yes, going digital definitely speeds up the process of closing deals, but there are several other benefits to transitioning your operation to the digital age. Happy Buyers Giving your buyers the convenience of signing electronically at their own....

What exactly is subprime? The Consumer Financial Protection Bureau (CFPB) divides borrowers into four tiers: Deep Subprime: credit scores below 540 Subprime: credit scores between 540 and 619 Nonprime: Credit scores between 620 and 679 Prime: Credit scores of 680 and above   Vehicle costs have soared in the past two....

Underwriting, as defined by Underwriting: Definition, Process, How Long It Takes (businessinsider.com), “is the process of taking on risk in a financial transaction.” In the auto industry this concept is simple; the financial transaction is the purchase of the vehicle, and the risk is the loan not being paid back.....

Car insurance is part of life. We are all required to carry insurance on our vehicles, but that doesn’t stop some individuals from dropping their insurance, allowing it to lapse, or giving false insurance policy details to begin with. Uninsured motorist percentages continue to rise, with states such as Mississippi....