TILA Quick Facts: What You Need To Know About Truth In Lending
When you enter into a contract it is important that you understand what it is you are signing. This applies to something as simple as signing up for an online newsletter (what are they really going to do with your information) all the way to making a major purchase such as a car. As someone in who is on the other side, such as in the F&I department of a dealership, making your customer aware and understanding of the mountain of documents you are having them sign is in your best interest. This ensures you are in compliance with the Truth In Lending Act (or TILA) and decreases the likelihood that your borrower will default on their loan. Check out our quick fact sheet so you know what TILA is all about.
Auto Dealers, Get the Guide
This is one of the 21 regs we’ve packaged up into an easy to use handbook and developed a checklist to help you identify who in your dealership is responsible for each of the 21 rules and regulations.
Get the Guide >>