Is Your Dealership Exposed? Does Your Staff Really Know What It Takes To Protect The Company Against Legal Troubles?
How certain are you that
your staff...
- Always fully
disclose all necessary information to customers?
 - Always execute all paperwork completely and fully?
- Never create or
participate in a hostile work environment?
- Always sell vehicles at the advertised price whether the customer knows of the ad price or not?
- Never over-allow
or raise the selling price to cover negative equity on trade-ins?
- Never add
sub-prime acquisition fees to the selling price of a vehicle?
- Always provide a
copy of the written privacy policy to sales customers?
- Always check
OFAC's SDN list before conducting business with all customers?
- Always provide
adverse action letters to customers when needed?
- Always report
cash transactions over $10,000
- Always send
timely Rescission Notices when necessary?
- Never backdate
re-written contracts?
- Always charge
the correct fees?
- Always properly
disclose deferred downpayments?
- Always properly
disclose prior vehicle history?
- Always comply
with foreign language translation requirements when necessary?
- Never run credit
checks without proper authorization?
More importantly, are you
certain that these activities NEVER occur at your dealership?
- Harassment
- Discrimination
 - Payment packing
- Falsifying
credit applications
- Forgery
- False or
misleading advertising
- Power booking
- Straw purchases
- Deceptive
business practices
Does your dealership...
- Have a written
Compliance Code of Ethics?
- Have a written
Anti-Harassment Policy?
- Provide regular
harassment prevention training to employees?
- Have written
Information Safeguards Program?
- Have a written
Identity Theft Protection Program?
- Have a Social Media Policy?
- Post both sides
of the Buyer's Guide on all used vehicles, including demos and unwinds?
- Provide
customers with proper contact information on the Buyer's Guide?
- Have an internal
Do-Not-Call list and a written Do-Not-Call policy?
- Have a form 8300
cash reporting policy?
- Rely on third
party vendors to determine whether advertising violates the law?
- Send unsolicited
e-mails, faxes or text messages without permission or without instructions on how to
unsubscribe?
If you're not sure that you have the right answers to these questions, it's time for a Dealership Risk Evaluation Audit. It doesn't cost much, but it could save you a fortune.
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