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Old 09-28-2010, 10:08 AM   #8
Join Date: Nov 2007
Posts: 14,869

Originally Posted by SANDMAN View Post
Not sure if it is a federal law on this but I did it as a precaution. All deals that were marked as a FOB came through me before they were turned in. It gave me the opportunity to save a deal and if not I did a adverse action on it regardless of whether it was submitted or not as long as there was a credit app in the deal. Why risk the fine?
That's a good policy - especially the part about a second chance to save the deal.

I remember dealer who used to have a manager's meeting with his sales and finance staff each week where they would review the write-ups they had that didn't result in a car sale. All the managers got along but they were also very competitive - it was interesting how a different perspective could save a deal.

I thought the meetings were a great idea - it really forced the desk to be up to date on all the latest programs since they knew their write-ups would be reviewed if they didn't sell the car.
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