Dealer Rate Participation Training

Self Study

  • 2

    Sections

  • 1

    Video

  • 19

    Minutes

Overview

The purpose of this course is to understand how Lenders are governed by the CFPB and how that impacts Dealer Rate Participation.  In this certification we will look at a case study from Toyota and a notice provided on 3/2/2021 capping the Dealer Rate Participation.  We will understand why this happnend and what the implications are at the dealer level.  We will also dive into the tools that are needed to protect the Dealer from potential regulatory issues.  This tool and best practice is the use of the Rate Deviation Form.  We will take a look at a sample form and all of the components within for a full understanding of how to use and apply this process.  This is the first step in the overall Fair Credit Compliance Program as laid out by NADA.  This course is designed for Finance Managers and Sales Management Staff.