June 19, 2024
News

Scrutiny prompts rise in costs for refunds of additional products

Auto financing organizations, retailers, and providers of aftermarket products are encountering an increase in regulatory supervision that necessitates cooperation to simplify processes and adhere to regulations. F&I products contribute to around 25% of dealer revenues, but present considerable challenges in terms of compliance and risk management, according to Brian Reed, the creator and leader of automotive technology […]

FAQ

Q: What are some examples of F&I products?

A: Some examples include extended warranties, GAP insurance, and maintenance plans.

Conclusion

In conclusion, collaboration and compliance are crucial for auto lenders, dealers, and aftermarket product providers to navigate the increasing regulatory landscape. By working together and implementing streamlined processes, these entities can ensure they remain compliant and successful in the industry.

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