Independent Auto Dealer

Chernek Consulting, LLC has earned a solid reputation in finance & insurance training and knows how to run an efficient independent F&I office while minimizing F&I liability. F&I Compliance is your roadmap to whether or not you stay in business. Your F&I practices are coming under scrutiny. Independent dealers are especially vulnerable- with the new kid in town “CFPB” Consumer Financial Protection Bureau- don’t get caught off guard keep your banks from dropping you. Your business matters and thrives on your F&I department doing business the right way- if your bank detects foul play they have no choice but to stop doing business with you! Banks will not tolerate shady business practices and or any sort of indication that your F&I Manager may have treated a customer unfair stepped over the line or over charged one product or the other. Don’t let a feisty attorney get the best of you- learn the ropes and increase your profits quickly.

When is the last time your F&I Manager attended F&I Training or NonPrime or SubPrime training courses? Don’t let one F&I Manager fail or deter you from being successful train them the right way the first time out with with Chernek Consulting F&I Training Programs.

Contact Chernek today to discuss your specific needs– we offer customized F&I training we are not a cookie cutter same to all… WE ONLY SUCCEED WHEN YOU DO!

“Auto dealers are, as a general matter, exempt from the examination and enforcement authority of the Consumer Financial Protection Bureau. But the CFPB has its sights squarely set on changing certain business practices of auto dealers, and can be expected to use its jurisdiction over auto lenders as a way to indirectly regulate the dealer-customer relationship, at least with respect to vehicle financing.”

“The CFPB already has examination and enforcement jurisdiction over large banks – those with over $10 billion in assets – and has been conducting examinations of their indirect auto lending programs. And we expect that sometime in the near future, the Bureau will propose a new “larger participant” rule to give itself the ability to conduct examinations of non-bank auto lenders, which would likely sweep in manufacturer captives, large independent lenders, and buy here-pay here (BHPH) dealerships. Even before such a rule is finalized, the CFPB has enforcement jurisdiction over any entity engaged in auto lending, both banks and non-banks.”

“The other pressure that is likely to be exerted on auto lenders by the CFPB is to require the lenders to exercise “oversight” over dealer operations related to vehicle financing. Just as the CFPB requires lenders to supervise mortgage brokers, collection agencies and other parties that a lender does business with, it will also apply the same requirement to lender relationships with auto dealers.”

From the article written by Christopher J Willis-In-Direct Relation: The Effect of CFPB Regulations on Car Dealers

Chernek Consulting works with the independent dealer to assist in establishing a seamless process from the time the customer touches down on your website to finalizing the transaction with either a digital or paper menu presentation. We help you to set up a process that drives performance and is customer centric. Learn why it’s important to retain your customers and keep them coming back for more. We work with the hybrid sales associate who may be responsible to present and finalize the sale with a menu presentation. Our methods are proven to work each member of your staff will learn the importance of a solid process that is result driven. Some of the content we will address during an in-house consultation:

  • Audit

  • Compliance Federal Regulations Review

  • Meet & Greet Sales Techniques

  • Establishing Credit Criteria Earlier On in the Process

  • Credit Interview

  • F&I Turn-Over

  • Product Review

  • Menu Presentation

  • Addressing Concerns a Customer Centric Approach

  • Virtual F&I Manager- Digital Retailing is here are you prepared?

We serve to serve you again!

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