Are you ready? A state regulator is on your website, or checking out your social media, or makes a surprise visit to your dealership. Are you ready?
One of the great things about bhphmarketplace.com as a dealer driven organization is to assist our dealers in being prepared for different situations. Are you ready for upcoming policy changes with the FTC? CFPB? Are you compliant? Have you had an audit done to ensure you are compliant?
BHPHmarketplace.com staff recently had a conversation with Richard Hudson of Ignite Consulting. Hudson focused on five main areas that buy here pay here dealers should be fully aware for compliancy: 1) Advertising/Social Media; 2) Deal jackets and correct notifications to customers; 3) Fair Lending; 4) Repossession; and 5) Credit reporting.
We hear from our members every day with questions regarding their advertising and social media. Hudson shared that when it comes to your advertising, be aware of these three: 1) Trigger terms; 2) Giveaways/ warranties; and 3) Employees using social media/ control of social media.
Contact bhphmarketplace.com at 866-974-9464 to discuss your dealership needs when it comes to compliancy, the need for capital, the need for inventory, or any need affecting your dealership. We have special offers for our members.
BHPHmarketplace.com is a dealer member organization with one objective for all buy here pay here dealers: Increase the sales and profitability of your BHPH business. Once you attend one of our events, you are considered a member. Call Anthony at 866-974-9464 or email him at firstname.lastname@example.org.