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Auto Dealer Compliance
There are thousands, if not tens of thousands, of parts in a single automobile. As we’ve discovered over the course of this series, there’s an almost equivalent number of federal rules that bear on the people who advertise, sell, service, and secure financing for consumer vehicles.
There’s no overstating the importance of your automotive dealership’s sales team. They’re the department responsible for generating much of your company’s revenue. They’re the people who communicate your organization’s unique value and culture. And they’re the ones whom customers remember when assessing the overall experience of leasing or purchasing a vehicle from your lot.
It’s 2017, and regulators have sent a clear message to automotive dealerships: “If you mess with your consumers, your employees, or the environment, you mess with us.” It’s another way in which everyone who works for your business stands for the entire organization: their actions—or inactions—can place the whole dealership at risk.
Salespeople get a lot of the glory, but much of the real credit (pun intended) should go to finance and insurance. A customer’s trust in an automotive dealership often stems from their interaction with the F&I department. Indeed, F&I team members are the ones who ensure customers leave happy, the business maximizes its profit, and […]
No other part of a dealership can compare to the service department in terms of moving parts. I mean that both figuratively and literally. For as many nuts, bolts, pistons, panels, plugs, and springs your service team handles, there’s an almost equal amount of rules and regulations to follow.
You’re a successful automotive dealership. Because you’re a successful auto dealership, you already know that your competitive advantage lies in your people: whether on the lot or in the back office, your team brings their A game to every sale, job, and interaction with consumers.
Remember when we told you 2017 would be the year of the compliance management system? Well, that was the nice way to put things. We could just as easily have said it would be the year noncompliant businesses get their comeuppance.
On July 12th, with help from our friends at Hudson Cook, we posted about the 12 Steps to Start a Compliance Program. Today we have a follow up post from Tom Hudson and Erik Johnson about how to take your compliance program to the next level. In Step 2 of that article, they recommended you appoint […]
Our partners at Hudson Cook often give presentations at dealer conferences. They typically cover dealer compliance with federal or state consumer laws. Afterwards they are often approached by dealers that ask the same version of this question: “Can you give me a basic playbook to help me set up a compliance program that will keep the Federal […]