Managing compliance and fair lending requirements can be a challenge. What guidelines does your dealership have in place?In an effort to assist you in managing fair lending risk, RouteOne offers A Dealers Guide to the Dealer Risk Control Program. An important feature of this program is the Dealer Pricing Exception Form. RouteOne adopted the NADA version of the Dealer Rate Exception Form and RouteOne functionality, including:
The Dealer Rate Exception Form allows your dealership to document the good faith, competitive reason for a downward deviation from your dealership’s standard markup rate, which may include:
Use care in applying this form! You should be able to provide the necessary documentation to substantiate the reason for the deviation.
If you have any questions on the Dealer Rate Exception Form, contact RouteOne Support at 866.768.8301, extension 4, or your RouteOne Business Development Manager. Interested in learning more about the security threats dealers should watch for? Stay tuned for RouteOne’s next compliance webinar in September, or view any previous compliance webinar sessions by clicking here.