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Should Dealers Charge a Doc Fee on Exercise of a Lease Purchase Option?

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CFPB: The Auto Industry Pushes Back

In the last issue, we reported on the attack by the Consumer Financial Protection Bureau on dealer participation in financing. Based on the bulletin from the CFPB to large lenders, many experts and industry critics have declared that dealer reserve is dead and that flat fees are imminent. But the motor vehicle dealer industry is […]

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Where Are Your Dead Deal Credit Applications?

It is now as important as ever to make sure that your dealership has an effective storage and retrieval capability for consumer credit applications that you receive in transactions that do not result in completed vehicle sales. Unless you are able to put your hands on a signed application that includes the authorization to run […]

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Proper Dating of Contracts: Avoiding Liability After Nelson v. Pearson Ford

In July of last year, a California appellate court handed down a very nasty, published decision that makes backdating retail installment sale contracts even riskier now than it was before.  I have been advising dealers not to backdate contracts for many years. However, what triggered a wave of suits in California and other states is a 2002 […]

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