RouteOne Blog

RouteOne Compliance Dashboard Webinar (2:00 p.m. EST)

Jesse Pappas — Wed, 15 Feb 2012 13:06:00 GMT

RouteOne is offering dealers FREE training on the new Compliance Dashboard functionality within RouteOne. We are offering daily webinars through Thursday, 2/23. Register today!

RouteOne Compliance Dashboard Webinar (2:00 p.m. EST)

The RouteOne Customer Support Team will lead the trainings on 2/28, 3/1, 3/6, 3/8, 3/13, 3/15, and 3/20. The RouteOne team will help you:

Establish an understanding of actions that may be taken in the RouteOne Compliance Tab
Set up system preferences in the RouteOne system
Complete an action within the system in regards to:
- Identity Verification
- OFAC
- Risk-Based Pricing Rule – Credit Score Disclosure Notices
- Dodd-Frank Adverse Action Notices
- Run Compliance Reports within RouteOne

To reserve your spot, please visit www.routeone.com/DashboardTraining.

Questions? Contact RouteOne Customer Support at 866.933.0663 or customersupport@routeone.com.

RouteOne Unveils New Compliance Dashboard Functionality at NADA 2012 in Las Vegas

Jesse Pappas — Fri, 10 Feb 2012 16:41:00 GMT

During NADA 2012, hundreds of dealers and dealership employees visited the RouteOne booth to catch a demo of the new RouteOne Compliance Dashboard. The Compliance Dashboard will be available to dealers in mid-February 2012. This free tool allows a dealer the ability to visually evaluate their compliance status within RouteOne, including assessment of Identity Verification, OFAC, Risk-Based Pricing / Credit Score Disclosure Notices, and Adverse Action Notices.

Dealers may view transactions at a dealership or individual user level, and may customize the categories they wish to track and monitor.

Compliance is a significant issue within the dealer community, and many dealers expressed concern regarding the growing complexity of rules and regulations within the F&I office, particularly how challenging it can be to manage compliance duties within the dealership. RouteOne was pleased to demonstrate to dealers its comprehensive compliance suite, designed to assist with managing compliance and staying ahead of government regulations. In addition to the Compliance Dashboard, RouteOne offers identity verification, electronic document storage, Adverse Action/Credit Score Disclosure notices, and more.

Dealers interested in personalized training on the Dashboard or other RouteOne features may contact their Business Development Manager or RouteOne Customer Support at 866.933.0663.

Effective Tools for Finance Sources and Used Car Dealers

Jesse Pappas — Thu, 29 Dec 2011 13:57:00 GMT

RouteOne has served as an industry leader in the online credit application management space, helping automotive dealers and finance sources to enjoy a faster, more efficient credit application process. The services that RouteOne provides have helped automotive dealerships sell more vehicles and have also provided finance sources a channel to grow their business. RouteOne continues to build upon the list of active finance sources on the platform.

Many used car dealers have also taken advantage of the tools available on RouteOne. RouteOne is currently growing its lender base within the used car niche. The combination of a strong used car market and a large number of participating finance sources makes RouteOne an excellent platform for both franchised and used car dealers.

RouteOne offers a host of useful features to its finance sources, all of which enhance the dealer user experience:

eContracting
Rates and Forms
Reporting Suite
Payoff Quotes
Dealer Reserve Reports
Vehicle Values
Text Messaging
Contract Status
Deal Refresh

Using these tools enables a truly integrated process between the dealer and finance source, while maximizing customer satisfaction.

If you are a finance source interested in participating on the RouteOne platform or a dealer interested in viewing existing active finance sources on RouteOne, please click the appropriate button below and complete the form as directed.

What is Phishing?

Jesse Pappas — Tue, 20 Dec 2011 18:24:00 GMT

Phishing

Phishing is a form of social engineering. Phishing attacks use email to solicit personal information by appearing to come from a trustworthy company or organization. For example, an attacker may send an email that appears to be from a major credit card company, financial institution, or someone you know. The email will often ask the user for personal information such as user ID and password or provide a link to a bogus website (which appears to be a valid website) asking for the same information. Phishing attacks may appear to come from other entities that take advantages of the following:

Natural disasters (e.g., Hurricane Katrina, Indonesian tsunami)
Epidemics and health scares such as H1N1
Economic concerns, IRS scams or bank failures
Major political elections
Holidays

Precautions to take

NEVER provide anyone your user-ID and password, for any reason; RouteOne will never ask for this information, updates to the RouteOne website are accomplished through our software releases.
Do not give out employee or other information from unsolicited phone calls or emails. Verify where the caller is from and, ask for a name and phone number. Research the company and validate the person's employers. Valudate the phone number.
Never provide personal information or information regarding the company’s network unless you are certain that the person should have the information.
Never provide personal or financial information in an email or by clicking on a link.
Never click on a link in an email. Pay close attention to the URL; most will use a variation in spelling or a different domain (e.g., .com vs .net or .co vs .com).
Install and maintain anti-virus software, firewalls, and email filters to reduce some of the phishing emails.
Never leave confidential information in view of the general public. If you leave your desk, put papers in a locked cabinet and lock your computer.

If you think that you might have revealed sensitive information about the organization or the employees, report it to the appropriate person within your organization. Immediately change all passwords for each logon account. Consider reporting the event to the police and file a report with the Federal Trade Commission (http://www.ftc.gov/).

Social Engineering

Jesse Pappas — Tue, 20 Dec 2011 18:22:00 GMT

Social engineering

Social engineering is generally a hacker’s clever manipulation of the natural human tendency to trust. The hacker’s goal is to obtain information that will allow him/her to gain unauthorized access to a valued system and the information that resides on that system. It is also used to gain access to a physical area where confidential information is kept in paper form.

Security is all about trust. Trust in protection and authenticity. Social engineering preys upon the natural human willingness to trust and accept someone at his or her word; this leaves many of us vulnerable to attack and is generally agreed upon as the weakest link in the security chain.

What is Spyware?

Jesse Pappas — Tue, 20 Dec 2011 18:17:00 GMT

Spyware

Spyware refers to a category of software that when installed on your computer may send multiple popup windows, redirect your browser, or monitor the websites that you visit. There are invasive versions of spyware that may record your keystrokes (called key loggers) and will capture your sign-in credentials for sites that you have access to.

The following symptoms may indicate that you have downloaded spyware and it is installed on your computer:

You are getting endless pop-up windows
You type in a web address and get re-directed to a different website
New unexpected tool bars are in installed on your browser, or new icons appear in the task tray on the bottom of your screen
The search engine you use opens a different browser or page than what was intended
Certain keys do not work in the browser (e.g., tab key doesn’t work moving field to field)
Random windows error message, begin to appear
Your computer suddenly seems very slow when trying to open documents or programs

Preventive Measures for Spyware

Don’t click on any links within a pop-up window. To close such a pop-up window click the X on the title bar instead of “click here to close.”
Choose no or close the pop-up if an unexpected dialog (pop-up) box appears asking if you want to run a particular program or perform another type of task. Always close the dialog box by clicking the X on the title bar; if that is not available, answer no or cancel.
Be wary of free software downloads. Many sites offer customized toolbars or other features. Never download software from a site you do not trust; you may be exposing yourself and your computer to spyware by downloading free software.
Don’t follow email links claiming to offer anti-spyware software – like email viruses, this may service the opposite purpose and will install spyware on your computer.

Removing Spyware

Run a full scan on your computer using the anti-virus software that you or your network engineer has installed on your machine.
Keep your anti-virus software current by downloading updates from their site (e.g., Norton or Symantec)
Run a legitimate product designed to detect and remove spyware.
Make sure your anti-virus and anti-spyware software is compatible with each other.

For more information on Social Engineer, Phishing, Spyware and other security threats please visit the United States Computer Emergency Readiness Team at http://www.us-cert.gov/cas/tips/

The F&I Log: Your Dealership Scorecard

Jesse Pappas — Tue, 29 Nov 2011 21:05:00 GMT

Many finance departments maintain a Finance and Insurance (F&I) Log. The F&I Log can serve as a high-level ‘score card’ for finance managers, as it stores important information about each vehicle transaction. The most common categories in an F&I Log can include:

Sales Gross per unit
Finance Reserve per unit
Life Insurance
Disability Insurance
GAP
Service Contract
Other Aftermarket Products
New/Used
Cash
Lender

Maintaining an accurate F&I log is helpful when auditing pay plans, reviewing lender performance, and reviewing performance with F&I trainers.

Preferences for storage of these logs vary – some are kept on paper, in an Excel worksheet, within a web-based system or within the dealership’s DMS. If your dealership utilizes RouteOne and the DMS integration we offer, you can enjoy automated data population of your F&I Log, as the system will populate this report directly from accounting on all finalized deals. The automated F&I Log and Performance Report provides insight into a dealership’s profit (average profit per contract and profit per vehicle retailed) and penetration for each F&I Department, F&I product, F&I Manager, and/or salesperson. Dealers may compare segment performance between new/used/car/truck or retail/lease/balloon/payment call.

A free manual utility is provided for those dealers not utilizing DMS integration. Try using the F&I log within RouteOne to keep score of your Finance Department.

Tapping Into the Social Economy to Build Your Department - Webinar

Jesse Pappas — Tue, 22 Nov 2011 13:05:00 GMT

RouteOne will host two informative and educational webinars in December. Please join us December 13, 2011 for the second in this webinar series, focusing on social media. Dealers and Finance Sources welcome.

Join RouteOne and Kathi Kruse, automotive social media expert, for a fascinating webinar on the new social economy and how to take advantage of social media to create more interest and profit in F&I. Kathi is the founder of Kruse Control Inc., an award-winning social media coaching and training company that assists dealerships in using best practices and creative new ideas to generate higher profits. Car buyers spend many hours online researching their next vehicle, and many say a referral from friends & family influences their decision. Word-of-mouth has always had influence on the way your customers buy. Social media is word-of-mouth...digitized.

In this timely webinar, you’ll learn how retail automotive has shifted toward the social customer and the implications of this for the 2012 Finance Department. We’ll discuss some best practices for marketing on social and other platforms, and how to maintain a great online reputation. We’ll also discuss

• Powerful ways to grow your business
• The most useful marketing platforms for the F&I Department
• Winning marketing strategies to generate leads and increase conversion rates
• The importance of developing staff to support your social media strategy
• The risks of ignoring your online ratings and what you can do about it
• RouteOne features and tools that will help you integrate these strategies and take your store to the next level

Don’t miss this Webinar! You’ll take away valuable information that you may use immediately. The Social economy is here. Register now!

The Realities of Bank Fraud - Webinar

Jesse Pappas — Mon, 21 Nov 2011 15:03:00 GMT

RouteOne will host two informative and educational webinars in December. Please join us December 6, 2011 for the first in this webinar series, focusing on bank fraud. Dealers and Finance Sources welcome.

The Realities of Bank Fraud: What a Dealer Needs to Know presented by Gil VanOver of gvo3 and RouteOne

Bank fraud at automotive dealerships has become a serious issue. From straw purchases to power booking, falsifying down payments to falsifying information on credit applications, these forbidden practices can jeopardize the health of your dealership.

Please join RouteOne and Gil Van Over, President and Founder of gvo3 & Associates, as we discuss the implications of bank fraud in the auto industry. Gvo3 & Associates specializes in developing and implementing compliance strategies within the F&I and Sales departments of automotive dealerships.

Gil will explain the four types of dealership bank fraud and its impact on a dealership. He will also share real-life examples of dealerships around the country that have experienced bank fraud firsthand. Finally, Gil will share best practices you can implement to help prevent bank fraud from occurring in your dealership.

After Gil’s presentation, RouteOne will offer a short presentation on security features and tools that may be used to help prevent fraud and theft within the dealership. We look forward to your attendance. Don’t miss out on this valuable session – register today

Dealer Management System (DMS) Integration

Jesse Pappas — Thu, 17 Nov 2011 18:48:00 GMT

What is a dealership management system and why should it connect to RouteOne? A dealership management system (DMS) is an information system created specifically for automotive dealerships to capture information relating to Sales, Parts, Service, Finance, and Administration. Integration between RouteOne and the DMS creates more efficiency within a dealership’s sales process.

RouteOne has developed a true dealer choice model, providing open access to multiple dealer management systems, allowing dealers the option to select which service providers best meet the needs of their business. It is the most comprehensive in the industry.

Benefits of integrating your automotive management system to RouteOne include:

Eliminate duplicate entry into multiple systems
Exchange credit application and decision information between your dealership management system (DMS) and finance sources in near-real time, simplifying and improving the credit application process
Send the application from your automotive dealer management system to RouteOne for finance source submission
Return the credit decision received from the finance source from RouteOne to your automotive dealer management system
Originate an application in RouteOne, send it to the automotive dealer management system to populate customer screens, and work the deal further
Get a concise yet comprehensive view of your dealership’s finance department and lender performance to pinpoint new opportunities for growth and profit

Download the list of integrated dealership management systems (DMS) by selecting the button below. Don’t see your DMS listed? Contact us at 866-933-0663.

A Consultative Approach to Compliance

Jesse Pappas — Tue, 08 Nov 2011 15:16:00 GMT

By Chuck Gucwa, VP Business Development

Increasing CSI while complying with industry regulations

The automotive lending community continues to be subject to increased regulatory scrutiny and enforcement, and there are no signs of this slowing in the near future. It’s the responsibility of every dealership to ensure their compliance with the laws – or risk expensive fines, penalties and increased analysis and inspection from the regulatory community.

Though these guidelines may require additional effort, time and resources on the part of dealerships to ensure compliance, there is an upside. These laws are designed for consumer protection – and that’s a message you need to be providing to your automotive customers. Look at it as a way to improve customer service while potentially growing your business and increasing profits in an ever changing market.

Navigating the credit maze with your customers

Much of the current regulation, including Credit Score Disclosure notices and Adverse Action notices, relate to the significance of a customer’s credit score in obtaining the most desired financing rates available. While an Adverse Action notice is used to notify consumers when they have been denied credit, a Risk Based Pricing notice is required for those that do receive credit, but on material terms that are less favorable than the terms offered to a substantial portion of customers (or, in the alternative, a Credit Score Disclosure notice may be provided to all customers). Either way, presenting these documents to the consumer offers you the chance to further extend the customer relationship by offering to discuss the customer’s score with them. Many consumers have questions about how their credit score affects their purchasing power. Embrace the chance to assist them with their questions and offer input on how to improve their score (especially with subprime buyers). You may want to develop a road map of sorts for improving credit scores, or providing industry references on the topic. Your customer may take your advice and return in the coming months to make their vehicle purchase with you – establishing their loyalty and hopefully, setting the stage for a long-lasting relationship with your dealership.

The identity crisis

Another high profile regulation is the Federal Trade Commission’s “Red Flag Rule”, which requires dealerships to implement and follow a written identity theft prevention program. This rule serves to protect you and your customers from potential identity theft resulting in loss of property and profits. Additionally, OFAC (Office of Foreign Assets Control) assists dealerships in screening customers to detect potential security threats. Explain these regulations to your customers, particularly when executing the steps within your identity verification program. Reassure them that the appropriate cautionary steps are being taken to protect both you and the customer from potential fraud.

Additional protection

Reassure your customers that you take cautionary steps within the dealership – steps not mandated by government agencies – to ensure the safety and security of customer data. Electronic document storage of all credit application materials and related information (credit reports, privacy notices, etc.) eliminates hard copy storage and the potential for lost or stolen documents at the dealership. Simple but effective policies such as a ‘clean desk ’and ‘acceptable use’ policy go a long way in protecting confidential and sensitive consumer data.

Take the opportunity to explain to your customers that you are there to assist them, and that you want them to obtain the best financing possible in the safest environment possible. This is your chance to establish long-term loyalty and customer retention at your dealership. Good selling!

Charles Gucwa is the Vice President of Business Development for RouteOne LLC, a free web-based credit application management system that connects automotive dealers to their subscribed lenders within a single portal. More information can be found at www.routeone.com or by calling RouteOne Customer Support at 866.933.0663.

5 Security Tips for Your Dealership

Jesse Pappas — Wed, 02 Nov 2011 15:12:00 GMT

The internet has revolutionized the way we conduct business. While the evolution of technology has provided us with immeasurable value, it also comes at great risk. As an industry-leading online provider of credit application and other supporting F&I tools, we share your deep commitment to security, and to safeguarding the critical customer information with which we have been entrusted. As such, we’ve taken great care to build a secure system to provide you the peace of mind you need to conduct your business.

Here are a few of our recommendations for simple steps you may take NOW to help secure your customer information:

1 - Run anti-virus / anti-malware software to protect your dealership systems, and update these protections regularly on applicable networks and machines (including desktops, laptops, tablets, and servers.)

2 - Only utilize ‘trusted’ equipment. Do not login from home or any location where malware protection is not being utilized.

3 - Never share your password or user accounts with others, and avoid writing your password down or placing it where others can see it.

4 - Keep confidential customer and employee data inside locked metal cabinets that are not easily accessible by the public.

5 - Eliminate unauthorized access to confidential data by conducting an ‘exit checklist’ for departing employees, including terminating access to RouteOne and all other dealership systems.

We hope that you’re able to implement some or all of these best practices to better protect your dealership.

RouteOne Makes Donation to Assist Tornado Victims in Tuscaloosa, AL

Jesse Pappas — Thu, 13 Oct 2011 18:31:00 GMT

By Alan Cross, Business Development Manager, RouteOne LLC

Tuscaloosa, AL

As most will recall, the city of Tuscaloosa, AL and surrounding communities were devastated by a massive tornado on April 27th of this year - taking many lives and leaving a path of destruction over a mile wide through the heart of the city. In early June, I was asked by RouteOne to make a trip into this portion of my territory and help identify ways we could support our dealer partners and help the community in the rebuilding effort – the subject of an earlier blog post, A Better Understanding of What We Can All Do To Help The Community.

Left to Right - Tommy Townsend (Townsend Ford), Shawn Turner (Project Blessings), Alan Cross (RouteOne), Marsha Sprayberry (Project Blessings) and Barry Buckner (Tuscaloosa Hyundai)

On Tuesday, August 9th I had the honor and privilege of returning and presenting a $5,000 donation to Project Blessings on behalf of RouteOne and our dealer partners in the area. Project Blessings has done a phenomenal job in their community to restore hope, rebuild homes and help rebuild lives in the aftermath of the storm. The donation was presented to Marsha Sprayberry, founder of Project Blessings, at the site of one of their ongoing projects with two of our dealer partners, members of the organization and around 20 volunteers in attendance. We were able to see firsthand how donations and volunteers were making a difference in the community.

With the group of volunteers from Creekside UMC (Creekside, PA)

I was a bit surprised as I pulled up at the home where we had agreed to meet – it was outside the tornado zone and, from the outside, appeared to be untouched by the storm. A group of volunteers were busy at work inside stripping walls, tearing out rotten floors and restoring the home’s structural integrity. I later learned that this group was a church congregation from Pennsylvania that had learned about Project Blessings through their website. Like so many groups before them, they had travelled many miles to Tuscaloosa to spend a week assisting in the rebuilding efforts.

Marsha explained to us that this project was a first for them. The house, in bad need of repair, had been donated to Project Blessings by the family of its former owner in hopes it could be repaired and become the new home for someone who lost theirs in the storm. Once repaired, Marsha explained, Project Blessings would work with HUD to identify a new owner for the home. She told the group that a portion of our donation would be used on this project and on others to purchase supplies and also hire professionals to perform required, permitted work unable to be performed by volunteers.

RouteOne is proud to be involved with such an organization, and look forward to contributing to their rebuild efforts in the future. If you are interested in learning more, please contact me at 248.686.8400 or across@routeone.com.

Dodd-Frank Adverse Action Notices Update

Jesse Pappas — Fri, 22 Jul 2011 18:22:00 GMT

Tools for Dealers within RouteOne - creating Adverse Action Notices

RouteOne offers dealers a complimentary, intuitive solution which enhances the existing Adverse Action functions and capabilities previously offered.

However, it does require the dealer perform some simple configuration in the Admin…Dealer Info…Compliance dealership setup pages

Get started with the RouteOne Adverse Action Notice Quick Start Guide here: http://www.routeone.com/marketingmessage/docs/R1_AAN_QSG.pdf

Enhancements are available within the RouteOne platform

Jesse Pappas — Wed, 20 Jul 2011 18:10:00 GMT

The Dodd-Frank Act, effective July 21, 2011, requires dealers to place the credit bureau score and the credit bureau name on Adverse Action notices.

The Adverse Action notice in RouteOne will contain:

The credit score used in taking any adverse action based in whole or in part on any information in a consumer report
The range of possible credit scores under the model used
All of the key factors that adversely affected the credit score of the consumer in the model used, the total number of which shall not exceed four; however, if a key factor that adversely affects the credit score of a consumer consists of the number of inquiries made with respect to a consumer report, that factor shall be included in the disclosure without regard to the numerical limitation
The date on which the credit score was created
The name of the person or entity that provided the credit score or credit file upon which the credit score was created

For the notice to pre-populate, the dealership DSA must identify their preferred bureaus within the ‘Dealer Info’ section of the ‘Admin’ tab. When dealers pull credit bureaus through RouteOne, the score, bureau and reason code will auto-populate on the Adverse Action notice based on those preferences. If dealers do not run bureaus through RouteOne, they can edit the Adverse Action form and manually enter the information.

Please note: The Adverse Action notice will populate with the new credit bureau score, range,and other factor information for credit bureaus run after July 20th.

Watch a recording of the RouteOne Summer Compliance webinar below

View the slides from the webinar on July 18, 2011 here: http://routeone.com/products/images/Dodd-FrankComplianceSlides07192011.pdf

RouteOne Computer Tips

Jesse Pappas — Wed, 13 Jul 2011 17:46:00 GMT

At RouteOne, we understand the importance of a fully operational computer. Every dealership knows the importance of having their customers return for routine maintenance on their vehicles in order to achieve maximum road performance. The same principles apply to your computer. RouteOne offers several regular computer maintenance tips that can increase the speed of your computer, protect your personal data, and optimize your RouteOne experience. To maximize the use of your computer not only for general tasks but usage of the RouteOne platform, we suggest the following steps:

Clean up disk errors. Utilizing your computers 'clean up disk' programs on a regular basis helps identify disk errors caused by crashes and power outages. Running clean up disk programs also promotes speedy performance.

Practice regular removal of temporary internet files. Temporary internet files attach themselves to your web pages as you surf, slowing your navigation speed.

Defrag your hard drive. This consolidates your computer files, making your computer faster. As you use your computer, certain files are constantly being used and broken down to speed up performance, but over time this process can slow your computer down. Think of your computer files as library books that are constantly being placed out of order, making them harder to find when you're looking for them. "Defragging" your computer places those files back in their proper order, making your computer more efficient when looking for files. It is recommended that users run the defragmentation program at least once a week.

Limit the history within your internet browser to one or two days. Also, avoid saving encrypted web pages. Encrypted web pages remember your user name and password upon your next visit. Configure your settings so that your browser does not save your personal log-in information.

Remove spyware and protect your computer from viruses. Surfing the web can cause unwanted spyware and malware programs to collect your personal information, resulting in potential compromises of your data. Removing viruses and other malware can help keep your computer free of threats and also help it run more efficiently.

Free up disk space. Removing and deleting larger unnecessary programs will help make your computer run smoothly.

Upgrading your Web Browser is also very important. Web browser upgrading is discussed at greater length in a separate video titled "Tips for increasing your web browser speed."

Following these tips will help make your computer faster and more efficient, not only in your day to day activities but also when using the RouteOne platform.

Additional information on cleaning up your computer is readily available and can be found on-line using a general search inquiry on any search engine. For internal networking questions please contact your internal IT administrator.

Thank you for your business!

Best Practices for Getting Your Customers Financed

Jesse Pappas — Tue, 05 Jul 2011 17:25:00 GMT

By Scott Johnsen, National Business Development Manager, RouteOne LLC

In this economy, it’s imperative that dealerships take advantage of every opportunity to get customers financed. Each deal is unique, but the best way to fund each and every deal is to pay attention to the basics. Let’s focus on a key tenet: your finance source selection and partnership.

Know the finance source policies. Knowing and following your finance sources’ guidelines for receiving applications can make or break your approval success rate. Additionally, understanding how to package your final deal will also speed your funding. Find out your finance sources’ policies regarding cash down, credit scores and scoring models, model year/mileage restrictions, PTI, and LTV. What about the lender’s book value (which book do they advance on?) Is your value accurate?

Verify contract accuracy. Verify the accuracy of your contract prior to submission to the finance source. Are you sending the customer application to the finance source most likely to fund that candidate? Check customer quality, vehicle selection and advance sought.

Create a complete funding package. Know the stipulations prior to delivery. Always create a checklist, whether packaging the deal on your own or providing to a clerk. Make sure you include all relevant data. Verify all stipulations prior to sending, and verify that all standard documents are included, complete and accurate. For example, a promissory note for $500 down could cost you time and effort to track down, maybe even a $500 write off. The missing stipulations for POI could cost your dealership $25,000 in funding, or worse, loss of an approval due to expiration - not to mention the frustration if the bank decides not to re-approve.

Ensure your customer meets program guidelines. In times past, ’cash was king’. This is not necessarily true anymore. It’s possible that your customer could meet 99 percent of minimum program guidelines – but missing that one percent could cost you the deal! So make it easy on yourself. Don’t submit a deal with $250 cash down knowing the program minimum is $500. You may not receive a counter offer for an additional $250 down - you may just receive an “automated turn down”. (Did you know some finance sources have policies which prevent them from rehashing a turndown?)

Avoid “shot gunning” deals. Shot gunning does not work to your advantage or speed your process. Actually, it does just the opposite. These days, finance sources are very tightly managing risk and cost. As a result, look to book and risk portfolio management are more critical than ever.

Build relationships. It’s important for you, the dealer, to build a solid relationship with your lenders. Get to know them and request that they provide you or your staff the training, education or feedback needed to have a successful partnership.

Be accurate. Avoid vehicle value errors or ‘power booking’, ‘grossing up,’ or otherwise enhancing the truth. It may seem harmless to round up an applicant’s income to the nearest “x”, or even provide a luxury vehicle with all of the bells and whistles, but it is not in either your, or the finance sources’, best interest. Your customer could have provided an application for credit using a different income at a different location, thus creating a discrepancy. This could delay your approval, create additional stipulations or worse, cause a decline.

Additionally, many finance sources are now completing their own customer interviews, either at random or generated based on the finance source’s risk assessment of your dealership’s performance or repossession rate. The ‘power booked’ car may have provided a nice advance and appearance of profit to your dealership, but if a discrepancy is found, you could be charged back, or even lose a finance source.

Most importantly, communicate with your lenders at every turn. It’s never too late to be a great partner. Good selling!

Finance Source Access on RouteOne

Jesse Pappas — Thu, 30 Jun 2011 18:04:00 GMT

By Ariel Pugliese

Prior to joining RouteOne, I worked in the captive finance industry as a dealer credit analyst, also as a retail credit buyer and then as a sales representative. As a result, I understand the importance of establishing productive relationships with your dealership’s finance source partners.

Currently RouteOne is integrated with more than 550 finance sources, with nearly 100 more in the pipeline. A great number of these finance sources serve dealerships in my territory, which includes Illinois and the southern portion of Wisconsin. However, we always want to hear from our dealers about finance sources that may not yet be integrated to our platform. Call those finance sources and encourage them to be where their dealers are – RouteOne! Or contact RouteOne Customer Support as well, at 866.933.0663 or customersupport@routeone.com. We’ll do our part to get them engaged, but your feedback really helps to expedite the process.

For a complete list of our integrated finance sources, click here.

Ariel is the Chicago/Milwaukee Business Development Manager for RouteOne. His territory includes Illinois and southern Wisconsin. He can be reached at 248.890.2430 or apugliese@routeone.com.

Compliance and Your Dealership

Jesse Pappas — Wed, 29 Jun 2011 16:57:00 GMT

By Andy White

I can empathize with the troubles dealers experience today. My ten years in vehicle retailing have enabled me to put myself in the dealers’ shoes. I know what it’s like to be frustrated – trying to sell as many vehicles as possible in an increasingly restricted regulatory environment.

Market Challenges

One of the top challenges dealers face in the Northeast Region is keeping up with all of the legal obligations for the dealership, especially those relating to the Finance Office. Dealers are already stretched thin due to layoffs and lower sales compared to several years ago.

How we can help

Many of the dealers’ compliance needs can be dealt with by using RouteOne, with a minimal amount of effort. It gives me great satisfaction as a RouteOne employee that I can offer many free compliance tools to the dealership.

The top question that I am asked by my dealerships is:
What do I HAVE to do to assure the owner that I am complying with all the required regulations, and how can I do it without increasing my workload?

I respond with my ‘Do’ list:

DO try all the great compliance features and products that RouteOne offers. Many finance managers can address their requirements in a minimum amount of time.

FREE RouteOne tools:
Risk-Based Pricing / Credit Score Disclosure Notices
Adverse Action Notices
Active Dealer User Report: Allows you to monitor dealership RouteOne users and their activity history
Privacy/Security: Assign employee permissions and control employee access to personal and confidential customer data
Activity Alert: notifies dealerships of potentially suspicious dealership activity within the RouteOne platform

RouteOne subscription-based tools (NO long-term contracts required):
IDOne: Identity verification and authentication
SecureDocOne: Electronic document storage and retention

Other subscription tools
WebApplyOne: Leads management
Vehicle Values: Book out tool offering valuations from the N.A.D.A. Official Used Car Guide® Company, Black Book, and Kelly Blue Book

DO consult with your legal counsel on all compliance questions.

DO take advantage of the free training and education RouteOne offers – either through online webinars or directly through your RouteOne Business Development Manager (find your manager here.)

Remember – you can contact RouteOne at any time for free training and education on these or any other RouteOne products. We’re here to serve you! Contact RouteOne Customer Support at 866.933.0663 or customersupport@routeone.com. Thanks for your business!

Andy White is the Northeast Business Development Manager for RouteOne. His territory includes Delaware, New Jersey, New York, and Pennsylvania. He can be reached at 248.880.2044 or awhite@routeone.com.

A Better Understanding Of What We Can All Do To Help The Community

Jesse Pappas — Fri, 24 Jun 2011 16:47:00 GMT

My trip to Tuscaoosa, AL this past week was supposed to be easy – identify ways in which RouteOne might assist and support our dealer partners in rebuilding their community in the aftermath of the tornadoes that devastated the city on April 27th. I was also in search of an organization where I might volunteer – something RouteOne encourages each employee to do. What began as a simple mission turned out to be one of the most difficult, yet rewarding tasks I have ever experienced.

I began by meeting with several dealers and General Managers from dealerships in the Tuscaloosa area: Tommy Townsend of Townsend Ford; Verta Barr of Quality Mazda VW; Barry Buckner of Tuscaloosa Hyundai, and Bart Irvine of Locklear Chrysler Dodge Jeep Ram and Kia. Each had their own account about that fateful day, where shortly after 5PM, an F4 tornado cut a mile-wide path through the heart of the city – destroying homes, businesses and many lives.

They spoke of where they were that day, how some of them actually saw the tornado from their dealership, the members of their “dealership” families who lost homes, and how almost everyone knew someone whose home was destroyed or who lost their life. They also talked about the outpouring of support they had seen over the past several weeks from folks from all across the country, how everyone in Tuscaloosa had pulled together to help their fellow neighbor, and how rebuilding the city would be a long process requiring resources yet to be identified. All were also quick to point out that Tuscaloosa would rebound from this as an even stronger community.

I also asked each dealer or General Manager I met with to provide input regarding local organizations / agencies providing assistance to the residents directly impacted by the storm. “If you were RouteOne, which local organization / agency do you believe would do the most with a donation of money or volunteers?” was the question I asked. I received several good suggestions, but one organization, Project Blessings, was mentioned a couple of times. Could this be where I should spend the day tomorrow as a volunteer? I knew before making that decision I should investigate it and several other local agencies.

Before doing my research, I knew what I needed to do next was something I really did not want to do – tour the actual damaged area to gain a more complete understanding of what is needed by the residents of Tuscaloosa. I, like so many others, saw reports of the devastation on the national news in the days following April 27th. I thought I was prepared for what I was about to see, but I was badly mistaken. After about a mile along the tornado’s path I had to turn the car around. The total destruction all around me, something akin to a war zone, was more than my mind could process. It was almost seven weeks later and it was difficult to tell that any progress had been made.

As I drove back to my hotel to process what I had seen and heard for the day, I began to feel overwhelmed by what my managers had asked me to do and began to ask myself questions. With so many needs evident, where should we offer our support? Should we choose one, two, three or more agencies? Was one agency really more deserving than another? What had I willingly gotten myself into? How was I going to decide where to volunteer tomorrow?

After arriving back at the hotel, I began poring over my notes, making phone calls to local agencies and using the Internet to find out more about them via their websites. After two or three hours, several questions still remained, but one thing became clear very quickly – each agency that had been recommended would be worthy of support in some way. The answer to my question about where I would spend my time volunteering the following day also became clear. It was decided. Project Blessings would be my destination. I recapped everything I had learned in an email and sent it to the managers at RouteOne.

The next morning I arrived at Project Blessings’ collection point and distribution center and met their facility coordinator, Shawn Turner. She was quick to point out that they could really use my help for the day as volunteer support had fallen off in the last few weeks. She also told me about how their founder, Marsha Sprayberry, had seen the need in the community over a year ago to provide assistance to low-income residents whose homes were badly in need of repair. Shawn also explained that while the organization is still providing those services, their focus had shifted immediately after the tornado to providing residents with basic needs (food, water, clothing, household items, toiletries, cleaning supplies, etc.) through this facility set up in the gymnasium of a local church.

Walking through the warehouse, I was amazed at what had been donated and also noted how they were running low on some basic essentials like toilet paper, laundry detergent, food – everyday items we all take for granted. As more volunteers arrived, we helped get everything ready for the day and were assigned our tasks. Columbia Sportswear had donated several large cartons of new clothing which we spent several hours unpacking, sorting, cutting off price tags and organizing for distribution. Working alongside my new friends (Hannah, Jenna, and Ronnie), we were able to complete this task and fill several “orders” along the way with new clothing. We also helped organize other items in the warehouse, empty a couple of outside storage “pods”, and met several folks from the community that were in need of assistance. As the day ended, we were all tired, hot and dirty, but all agreed that the experience had been fulfilling.

I left Tuscaloosa on Friday less overwhelmed than the day before, with more knowledge of agencies supporting the rebuilding effort, and with a better understanding of what we can all do to help the community. One thing is for certain - they need our help today, tomorrow and in the months to come.

I have listed several agencies below (and their contact information) should you feel the call to help the residents of Tuscaloosa, whether it is a donation of time, money or supplies. Thank you in advance for any help you can provide these citizens.

Habitat for Humanity of Tuscaloosa
Bob Johnson, Executive Director
bob@habitattuscaloosa.org
205-722-2136
www.habitattuscaloosa.org

Project Blessings
Shawn Turner
SETinGlass@aol.com
205-310-4582
205-792-0542
www.projectblessings.org

Temporary Emergency Services
Karen Thompson
205-758-5535
www.temporaryemergencyservice.org

American Red Cross
1100 Veterans Memorial Parkway
Tuscaloosa, AL 35404-5812
(205) 758-3608

Credit Bureau Reports in RouteOne

Jesse Pappas — Wed, 08 Jun 2011 17:59:00 GMT

We all know that consumer credit plays a critical role in the auto sales business. Running a credit report as soon as possible on potential customers allows you to quickly assess the type of financing you will need to obtain for the customer, saving you time and energy later on.

We also know that the credit application and credit reports go hand in hand – that’s why RouteOne offers you the ability to run a bureau directly from within the credit application on our platform. You can enter the bureau information first, before starting the app, and that information will pre-populate a credit application for that consumer, eliminating duplicate entry and increasing your selling time. Or, enter the app first and then run the report – the credit report request will be automatically populated with the customer data. It’s a win-win!

Additionally, when you run bureaus within RouteOne, credit score disclosure and/or adverse action notices will be pre-populated with that customer data – saving you valuable time and eliminating the risk for errors.

And imagine this – you meet a customer on the lot but sense he’s not yet committed to sitting down and running numbers, much less purchasing a vehicle. No problem! You can pull reports through your mobile devices such as the Android, iPhone, and iPad. Collect that customer’s information and run their credit report in the palm of your hand – no need for office time or lengthy paperwork – more time saved!

It doesn’t matter, either, which bureaus you are affiliated with - you can access virtually any credit bureau source through RouteOne by obtaining dealership account credentials, or codes, from your credit bureau service provider. You can then enter the codes into RouteOne and begin running bureaus immediately!

When you run bureaus through RouteOne, you can process and store the reports AND applications within the same system, which is not only efficient – it’s smart. We’re integrated with ADPs Credit Check., Reynolds and Reynolds’ CreditMaster, and other resellers. We also provide access to the three credit reporting agencies – Equifax, Experian, and TransUnion. And credit reports are stored for 60 days within RouteOne – even longer if you’re a subscriber to our electronic document storage tool, SecureDocOne.

Get started today. Visit our website to learn more here, or contact the RouteOne Customer Support team at 866.933.0663 for more information. Thank you for your business!

RouteOne Compliance

Jesse Pappas — Wed, 08 Jun 2011 16:45:00 GMT

The regulatory landscape for dealerships is evolving rapidly and requires a consistent effort on the part of dealers to maintain an appropriate compliance position. The alphabet soup of obligations includes FCRA, GLBA, ECOA, in addition to many others. RouteOne has always been committed to supporting dealers in meeting these obligations efficiently in the F&I Office.

Since its inception, RouteOne has been dealer centric, offering many systems and products to dealers free of charge. While some of our subscription-based services are delivered through third parties, RouteOne has continued its core philosophy by developing dealer-driven regulatory compliance and business tools that address the complex regulatory environment in which the dealers live.

RouteOne advises each dealership to seek its own counsel’s advice to ensure its compliance position; when reviewing compliance, it’s important to ensure coverage for the following: Fair Credit Reporting Act (FCRA), Equal Credit Opportunity Act (ECOA), Graham Leach-Bliley Act (GLBA), Safeguards Rule, Red Flags Rules, Risk-Based Pricing Rule and the Dodd Frank Rule.

To learn more about how RouteOne can support your compliance program or to provide feedback, please contact your RouteOne Business Development Manager or the RouteOne Sales Support team at 866-933-0663 or customersupport@routeone.com.

RouteOne 8 Tips

Jesse Pappas — Mon, 06 Jun 2011 16:37:00 GMT

Why RouteOne? We are a management tool that will help you to navigate the challenges you face. How can you optimize your business to be the most profitable? Take advantage of these eight easy steps:

The core RouteOne system is FREE to your dealership. More than 22,000 dealerships have chosen to use RouteOne as their credit application platform. We’re contracted with more than 550 lenders – 98% of them non-captive, including prime and subprime lenders and banks. So it’s highly likely that the finance sources you currently conduct business with are connected to RouteOne.
Credit reports. RouteOne will allow you to run credit bureau requests and view reports and scores directly within the system. Why is this significant? Because it makes for a quicker process. Running bureaus directly within RouteOne pre-populates the credit application, saving you data entry time.
We’re available on just about every mobile device, including the iPhone, Android, and iPad. So you can manage your deals anywhere, in the dealership or out to lunch!
We employ a talented team of business development managers nationwide whose job it is to serve YOU and your dealership. Additionally, our in-house customer support teams are on call, ready to answer questions and assist you with training. We have hired only the best business development managers to support you. They have been able to help dealers find ways to save money and grow profits.
We provide a robust suite of subscription-based and FREE compliance products and services that are designed to help you meet regulatory requirements and stay within the law. These include credit score disclosure notices, adverse action notices, identify verification and electronic storage services, and user reports that help you keep an eye on activity within the dealership.
We integrate with more than 60 dealer service providers. Our integration to these systems can help you reduce this data entry time tremendously!
We offer some other tools to help build your brand and strengthen loyalty to the manufacturer. We provide exclusive access to several Credit Cards with special RouteOne programs.
We issue no long-term contracts. You can cancel subscriptions at any time with no harsh penalties or fees!

This is the time to take action! Learn more by contacting our customer support center at 866.933.0663 or email customersupport@routeone.com. Thank you for allowing us to serve your dealership!

RouteOne Mobile

Brad Vansickle — Mon, 11 Apr 2011 17:54:00 GMT

At RouteOne, we appreciate that your business can sometimes take you out of the dealership. It’s just not practical in this day and age to be limited to the four walls of your office to conduct business! That’s why RouteOne is proud to offer our platform on the iPhone, iPad, and Android mobile devices. We also support most mobile browsers. What does this mean to you? Well, you can take the power of RouteOne anywhere, no matter where you are – on the lot, out to lunch, or at your son’s Little League game! Track and manage deals from the palm of your hand.

Say you’re at lunch and want to check the status of a deal. Not sure if a deal has been approved or declined? Check the deal status easily from the Deal Manager. Once you select the customer’s name, you can view the decision details for more information. Then get back to your meal!

Now say you’re on the lot with a potential new customer who’s not really sure they’re going to commit to a vehicle purchase. From the FREE RouteOne mobile application, you can request credit scores immediately and advise the customer of their financing options, without ever setting foot in the office!

Download the free app for your iPhone here or the Android Market here! (Learn more at our training video on YouTube here.) Don’t forget that your DSA activate your dealership in the Mobile Services section of the Dealer Info within the Admin tab) before you may While you’re at it, enter our Mobile Madness contest at www.routeone.com/mobile to become eligible to receive gift cards or an Apple iPad! Contact us at 866.933.063 to learn more. Thank you for your business!

Why Dealer Groups Choose RouteOne

Jesse Pappas — Mon, 11 Apr 2011 16:30:00 GMT

RouteOne offers every dealer the opportunity to reduce costs, strengthen F&I processes, and increase vehicle sales. We also offer some unique benefits and opportunities to dealer groups – any collection of dealerships from two to three hundred.

When your dealer group chooses RouteOne as the sole source for all credit applications, that’s when the real benefits start kicking in:

Efficiencies. Taking advantage of the commonality of RouteOne across all your stores just makes good sense. Why use multiple systems and cause confusion among stores when you can be assured of an easier overall process utilizing one system? Maximize the amount of time that you can spend selling to customers; devote less time to duplicate entry and administrative hassles using multiple platforms.
Standards. Everyone in the organization benefits when you utilize one system. Calibrate to the same standard. Imagine how difficult it would be to normalize data across multiple systems when you’re trying to assess lender and dealer performance. RouteOne provides a complete and comprehensive reporting suite that allows you to measure lender and dealer performance so that you can maximize your opportunities for additional profits and efficiencies.
Compliance. This is key. Using RouteOne for all your stores allows you to wrap your arms around this difficult subject. When all of the dealerships are using RouteOne for credit bureaus, risk-based pricing, adverse action, privacy notices and the like, you're able to take advantage of a lot of efficiency and a lot of control.
Training. Imagine users that move from one of your stores to another. There’s no need for additional training on RouteOne because they are already a user, and the system is interchangeable across franchises. But if you do need help, RouteOne can provide exception reports that identify the needs for training in certain stores.

Take advantage of all the efficiencies that drive car sales and spend more time selling cars and less time on administrative tasks. To learn more, contact RouteOne Customer Support at 866.933.0663 or customersupport@routeone.com. Thanks for your business!