Safeguarding Wealth through Compliance
DOWC’s core philosophy is that dealers should have the freedom to make their own decisions regarding the products they provide and participate in, and how they invest their money. Each and every decision the DOWC team makes is shaped by one objective, to enhance dealers’ wealth. No other provider or administrator does this with more sincerity or ingenuity.
DOWC’s focus on each dealer’s unique business needs paired with a comprehensive understanding of the regulatory landscape results in the development of customized programs that are most beneficial to the dealer from financial, operational, and compliance perspectives.
Individualized reviews of structure options and state-by-state compliance assessments reveal new opportunities for dealers unheard of in the world of big-box administrators. Custom program design often results in specialized contract terms that permit flexible cancellation options, the deduction of claims from refunds, and the implementation of lower per occurrence and aggregate limits of liability. Tie back language that drives business to the service lane and other distinct contract terms are utilized to maximize dealer benefit and reduce risk.
DOWC’s efforts to mitigate risk and safeguard dealer wealth don’t end when the program is implemented. In the automotive world of alphabet soup regulations and ever-changing statutes, DOWC champions simplicity and clarity through straightforward F&I training and by rewarding knowledge. F&I has evolved from the days of paper menus and managers selling the product most valuable to their pay plan. The demand by consumers for options and information that will allow them to determine the most valuable offerings paired shapes the F&I training offered by DOWC. The company’s focus on technology and disruptive approach of questioning traditional F&I processes that may be outdated is key to their dealers’ success. The training is centered around the evolved buyer of F&I products and the use of readily available information and technology. DOWC believes proper, modern training is at the heart of the success of every F&I department and the dealerships as a whole.
DOWC champions and fully trains the evolution of F&I!
DOWC’s programs offer dealers an opportunity for unmatched growth and wealth. Safeguarding the dealer’s progress is of equal priority for the company. DOWC believes mitigation of dealers’ risk must take place not only on the customized contract level, but through comprehensive, up-to-date training in the F&I department and throughout the dealership. This is clearly what sets DOWC apart and, noticeably, miles ahead of the competition.
Governing laws may include: The Truth in Lending Act, Regulation Z, the Consumer Leasing Act, Regulation M, the Equal Credit Opportunity Act, Regulation B, the Fair Credit Reporting Act, the Used Car Rule, the Magnuson Moss Warranty Act, the Gramm-Leach-Bliley Act and privacy regulations, the Patriot Act and OFAC requirements, Federal Trade Commission regulations, the Odometer Act, federal and state advertising laws, and arbitration laws, among many others. Are you compliant?
DOWC pairs its legal team’s automotive and business law experience with the substantial industry knowledge of its sales and operations teams. The company has helped hundreds of dealers develop customized F&I programs that expand and safeguard their wealth by satisfying statutory requirements. Contact DOWC today for more information.