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EFG Companies Featured

EFG Companies One of the First Hundred to Achieve Consumer Credit Compliance Certification

EFG’s Compliance Oversight Rated as Top Area of Performance by Dealer Partners

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EFG Companies, the innovator behind the award-winning Hyundai Assurance program, today announced the Consumer Credit Compliance Certification of Karen Klees.  Klees was one of the first 100 officers to be certified under this new program by the National Automotive Finance Association (NAF).  NAF specifically designed the Consumer Credit Compliance Certification Program to address the challenges faced by consumer finance companies in maintaining legal compliance in an environment characterized by ever-changing federal and state regulatory requirements.  It provides compliance professionals with a deep working knowledge of the federal laws and regulations that govern consumer credit along with an overview and general examination of state consumer credit law.

Coupled with EFG’s AFIP certification of its dealer services field team, this new certification further demonstrates EFG’s commitment to addressing the number one “stay-awake” issue for dealers.  Going forward, EFG will utilize these certifications to help its clients create a governance model to assure ongoing compliance. This will include acting as a facilitator, training them on compliance best-practices, educating clients on the magnitude of what lenders are facing, and preparing them for future compliance initiatives.

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Dealership Training

Creating a Culture of F&I

Contributing Author: Steve Roennau Vice President Compliance EFG Companies
Contributing Author:
Steve Roennau
Vice President
Compliance
EFG Companies

Q4 is here and that means it’s time to reflect on where your business is today and plan for what lies ahead in 2016. Many dealers not only forecast their future business, but also develop plans to create a cohesive team and workflow between all functional areas of the dealership.

Everyone knows the F&I department is an important driver of profitability – they get deals bought, sell profitable protection products, and ensure the delivery of the vehicle. Successful dealers don’t just think of F&I as a department, rather they adopt a culture of F&I throughout the dealership.

A culture is a way of life of a group of people – the behaviors, beliefs and values that they accept and pass along. As a dealer, do you understand the benefit of having your sales and service teams adopt an F&I culture? Where the employees believe in and accept the value of the F&I process and products as a way of doing business and impart it on everyone in both the showroom and service drive?

It’s obvious for dealers to see the value of training your sales team on F&I products.

Your sales people know many of their customers today work on a tight household budget. With a culture of F&I, they also know how a VSC helps them stay within that budget when their car unexpectedly breaks down. Or, that GAP protection will ensure customers can pay off their vehicle in the event of a total loss.

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Featured

EFG Client Davis-Moore Automotive Receives Dealer of the Year Award

Dealer of the Year PhotoF&I and Showroom Magazine recognizes Davis-Moore for the auto group’s commitment to compliance in driving F&I profit

EFG Companies, the innovator behind the award-winning Hyundai Assurance program, is proud to recognize Davis-Moore Automotive for receiving the F&I and Showroom Magazine’s Dealer of the Year and Pacesetter Awards. The annual F&I Dealer of the Year award is given to a dealership or dealer group with a highly profitable F&I department that demonstrates a commitment to regulatory compliance.

Founded in 1955, Davis-Moore is a six-rooftop dealership in Kansas, with five stores in Wichita and the Clint Bowyer Autoplex in Emporia. Earlier this year, Davis-Moore won the Better Business Bureau Integrity Award, as well as a variety of Reader’s Choice awards from Wichita’s local newspaper, The Wichita Eagle.

“We are so proud to count Davis-Moore as part of our family of clients,” said John Stephens, Senior Vice President, Dealer Services, EFG Companies. “Davis-Moore has always been a dealer group with high integrity and an eye toward the future. Their recognition of the importance of compliance and serving the customer’s best interest has helped Davis-Moore raise the bar in this new era of F&I profitability.”

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