Deal Pack Blog

Compliance and Your Dealership

What are your dealership’s Red Flag and Compliance policies? Having a clearly defined policy in regards to compliance laws not only protects your customer’s sensitive information, but it also protects your dealership.

One way that Deal Pack Pro assists you in staying compliant is by running an OFAC (Office of Foreign Asset Control) check on every single customer you put into the system. These reports can be printed out and put into your customer’s deal jackets.

Another is to use Red Flag Compliance when pulling credit from the credit bureaus in order to ensure that the person in front of you is who they say that they are.

A few other helpful suggestions that can help your dealership stay compliant are:

  • When a vehicle is put into inventory, immediately place a buyer’s guide on the vehicle
  • All documents containing any customer information are to be kept in a locked drawer if not being viewed
  • Never leave computers on where information can be seen even from a distance
  • All computers should not be accessible by anyone but those authorized to use them

Our best recommendation to stay compliant is to stay current on your state legislation in regards to compliance and protect your customer’s private information. You will also want to make sure all of your employees are up to date on your dealership policies as well as making sure they understand the importance of watching for Red Flags and keeping compliant.

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