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Compliance
Update to Take Effect July
21st
The
Wall Street Reform and Consumer
Protection Act of 2010 is
here.
Among
the vast reform covered
in this Act are some pieces
that automotive retailers
must be aware of, and be
prepared to comply with.
Among the changes, Adverse
Action notices must now
include language pertaining
to the credit score being
used in the credit decision
process. This is independent
of your disclosure requirements
under the recent Risk-Based
Pricing Guidelines. July
21st is right around the
corner, consult your legal
department to be sure you
are ready to comply.
What
Does It Take to be a Consistent
F&I Superstar?
Below
are the six universal traits
shared by all top performers.
1)
Accountable - No excuses.
You alone are in control
of your performance results.
2)
Goal-Oriented - Daily
tracking/reporting is a
must to know your direction.
3)
Customer Empathy - Understand
your customers and present
them valuable options.
4)
Honesty - Integrity
goes a long way in the F&I
Office.
5) Ambitious - How bad do you want to
win? How often to you practice,
train, rehearse?
6)
Discipline - Commitment
to the process and your
success each and every day.
We
are past the halfway point
in 2011, it's time to take
stock of how we measure
up.
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