Noncompliance and Fraud Prevention for Car Dealers

Prevent jumping through hoops to remain compliant. Noncompliance and fraud could cost a dealership more than its current overhead. Audits and lawsuits are unwanted distractions that pull attention and profits away from business goals. A few of the most common regulations that come up in dealerships are the Fair Credit Reporting Act (FCRA), the Red Flag…

Wes Crumby, CEO of Subprime Dealer Services, and Tom Stuker Talk Dealership Special Finance on CBT News The Tom Stuker Show

Wes Crumby Shares His Money Making Secrets Within The Special Finance Office

Crumby Reveals The Shark Tank Approach, How to Turn a $600 Deal into a $3,000 Deal and More… This week our CEO Wes Crumby joined Tom Stuker at CBT News to air a feature segment on special finance. Wes shares his knowledge and experience on the subprime industry, lenders, inventory, responsibilities, best practices, and how to make more profit…

FCRA federal dealership compliance auto leads and firm offers of credit from subprime dealer services

Dealership Compliance, Fair Credit Reporting Act and Firm Offers of Credit

Dealership compliance should rank high priority because of federal laws and the impact it can have on profit. Here’s what we know. The fair Credit Reporting Act (FCRA) is a federal law that regulates consumer information. It restricts access to sensitive information and how that information can be used. There are huge penalties for dealerships that…

equifax

Equifax Influences Kibosh on Subprime Auto Bubble Craze

Subprime auto lending continues to be an ongoing, heated debate that Equifax might have finally silenced this month with their latest economic trends commentary, “Subprime Auto Loans:  A Second Chance at Economic Opportunity.” Equifax Economists examined two groups of consumers with deep subprime credit scores (below 550) over a three-year period – those who originated…

Any Inventory is the Perfect Inventory When Targeting Automotive Subprime and Bankruptcy Leads

 Article by Wes Crumby (@WesCrumby | LinkedIn) It is common misconception that dealerships must have special inventory on their car lots in order to do special finance deals for car buyers classified as either subprime leads or bankruptcy leads. Dealerships should know that whatever your current used-car inventory is on your lot, you can find multiple lenders…