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Solves your compliance challenges while helping you sell more vehicles for higher grossesOnly $289 per month
Includes 500 Red Flag scores per month* Complete installation in less than 2 weeks
We developed the ProMax Online Compliance Package to enable your dealership to maintain compliance with the numerous laws and regulations while providing you with a consistent sales process to help you sell more vehicles at higher grosses. Since everything is integrated in ProMax Online, maintaining compliance will be virtually effortless. The following is a brief summary of how ProMax Online helps you comply with each regulation.
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Red Flag Rules (Due Nov. 1, 2008)- Pull a credit report and ProMax Online immediately provides a “Fraud Score” for the consumer. Your personnel are then prompted through the required steps if “out of wallet” questions are required to confirm the identity of a consumer. Any incidents that require tracking are automatically stored in ProMax Online permanently for dealership and government audits. Annual dealership audits are prompted to ensure compliance. The Compliance Package Manual also provides an example of an actual dealership’s Risk Assessment Process and Compliance Manual to assist your dealership prepare its own manual as required by the Red Flag Rules. | |||||
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OFAC Screening (In effect now)– Scan a consumer’s driver’s license and ProMax Online immediately checks the consumer’s name or likeness with the current OFAC list. If a partial match occurs ProMax Online prompts your personnel through the required action steps. Your dealership is subject to substantial penalties if you do business with any person or entity on the list. |
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Adverse Action Notices (In effect now)- When you work all of your sales deals in ProMax Online you will be prompted when circumstances exist that will require you to provide the consumer with an Adverse Action Notice. We even offer the option to send your required notices by mail to ensure full compliance. |
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Do Not Call Rules (In effect now)- The fines are big. Each phone number entered into ProMax Online will be screened against the National Do Not Call Registry. If the number is in the registry ProMax Online will identify it and you may block your employees from accessing the number to avoid any violations. |
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Privacy Notice (In effect now)– Did you know every consumer who gives you their credit information needs a Privacy Notice? ProMax Online can print one and you can obtain the consumer’s electronic signature confirming their receipt of the notice. You are also required to provide an annual notice to consumers who financed or leased a vehicle from you for a time period exceeding the term of the loan or lease. ProMax Online will prompt these required actions | |||||
Safeguard Rules (In effect now)- ProMax Online is CyberTrust Certified to ensure your credit reports and credit applications are sent via the Internet in a safe secure manner. All consumer credit reports, non-public information on credit applications, and other documents are secure in ProMax Online’s paperless environment and can only be accessed by your employees who are granted access. To ensure a paperless and secure environment ProMax Online obtains electronic signatures on credit applications. |
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| Can Spam Act (In effect now)– ProMax Online serves as your sales department’s Email server. All opt out requests will be processed immediately to ensure you don’t violate the Can Spam Act. | ||||||
Truth in Lending (In effect now)- Varying by state is the limitation of the payment range you can quote to a consumer. ProMax Online allows you to control this variable. All documents properly disclose the financial details of all sales and leases. You may also obtain the consumer’s electronic signature on F&I menus you present.
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Other Requirements (In effect now)– you are required to maintain records of consumer credit reports and credit applications for years. Proper disposal of these records are also required. ProMax Online stores these documents and only properly disposes of the records at your request or if required by law. | |||||
WARNING – The fines and potential class-action lawsuits for non-compliance of the above regulations could BANKRUPT your dealership. Thousands of dealerships across the nation are not in full compliance and the government is currently looking to make an example of a number of dealerships. If your dealership is not currently in compliance with any, or all of the regulations listed above it is not too late - as a ProMax Online subscriber you have access to an integrated, permanent solution that incorporates compliance into your sales process to increase your sales and grosses, and we can activate your compliance package almost immediately. Violations can result in serious penalties. Here are some examples:
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Take Action Now Call 800-322-9034 Ext. 172 or Ext 176.
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The ProMax Online Compliance Package can be activated within 2 weeks to help protect your dealership’s assets from unnecessary fines, penalties and litigation while improving your vehicle sales and gross profit. * Ask for specific details |
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