Identifying Your BHPH and RFC Trends
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.
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.
At Bergeron Auto, compliance is taken seriously. Dealer Denis Bergeron discusses why his dealership in Metairie, La., takes a proactive approach to maintaining compliance.
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.
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.
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.
Erin (Mack) McKelvey of Millennial Media discusses targeting auto shoppers through mobile advertising.
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.
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.
Gibson Truck World, a 14-acre dealership in Sanford, Fla., sells about 150 vehicles per month. The dealership relies on social media, radio, television, magazines, the Internet, billboards and good old word-of-mouth to advertise the dealership.
Trainer Greg Wells discusses how dealers can effectively market vehicles online with proper pricing, quality photos and compelling vehicle descriptions.
Throughout 2011, used vehicle buying has been difficult for dealers. Five used car buyers share how they’re finding vehicles.
Author Jon Greene discusses how dealers can differentiate themselves from the competition by implementing a customer loyalty program.
When the going gets tough, the tough get going. At Grogan’s Towne Chrysler Jeep Dodge in Toledo, Ohio, Marc Ray took matters into his own hands when the market got tough, and as a result, the store is growing and more profitable than ever.
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.
Attorney Nicole Munro explains advertising disclosures required by the Truth-in-Lending Act (TILA) and Regulation Z.
