Tag Archives: leasing

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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A Doc Fee by Any Other Name…

Car people speak in their own shorthand that is not always precise. For example, a franchisor is the “factory”, even though the franchisor may simply be a distributor that does not manufacture anything. Or an extended service contract is often referred to as an “extended warranty”, even though it is not a warranty at all […]

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FTC to Dealers: “Pay Us a Penalty No Matter How Much You Owe”

You’ve seen (and maybe even used) ads claiming that a dealer will pay off customers’ trades no matter how much they owe. The Federal Trade Commission has announced consent agreements with five auto dealers who ran variations of those ads.  The FTC charged that they deceived consumers into thinking they would no longer be responsible […]

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