October '20

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rv-pro.com October 2020 • RV PRO • 39 Dotting the 'i's and Crossing the 't's Equally challenging, if not more so, is the vast amount of federal regulations that must be adhered to in order to protect the dealership's liability while also serving customers' ancillary product needs and building dealer profit. "There's a lot of paperwork that has to be spot-on for the banks," Nelson says. "Everything has to be perfect – there's very little room for error as a finance manager. The position certainly has its challenges. "If we do our job incorrectly, we can actually have the place shut down. We're the last line of defense for the dealership." Government regulations and subse- quent paperwork and reporting in recent years have escalated dealer liabilities when financing a customer's RV, according to Charles Campbell, who is the senior instructor of F&I for U.S. Compliance Academy. The company provides online certification for RV dealers and staff with regard to compliance mandates dictated by federal government agencies and the regulations they enforce. "Reporting requirements have increased substantially – and there's potentially up to millions of dollars in fines that could be levied against a dealer," Campbell says. "Failure to comply with federal regulations in today's regulatory environment could bankrupt even the strongest dealership." He a d d s t h a t U . S . C o m p l i a n c e Academy has been involved in several lit- igations over the years as an expert witness. "We've seen some very stiff fines issued," Campbell says. "My advice to dealers who have been told by others that they've never been fined is to be wary – fellow dealers will not always admit that they've been zapped by fines out of shear embarrassment. "Most cases," he adds, "are often set- tled out of court, so those fines are often not exposed." F&I is Untapped Profit Center Despite the stresses and required atten- tion to detail, Bortles and Nelson say that F&I is a strong profit center that many dealers don't capitalize on. "I've spoken with other F&I managers at training events and many tell me they're intimidated by what's involved. They just want to get the customers in and out," Nelson shares. "Ultimately, it's a disser- vice to the customer, because there's so much to offer." In addition to being compliant and protecting dealer liability, Campbell agrees that they must also enhance the unit sale All Seasons RV & Marine is based in Bend, Ore., but draws customers from Idaho, Washington, California and Montana, especially this year, as many dealerships across the country are facing inventory shortages. W H Y N O T Meyer? Our full line sheet and services have you covered from front to back! T H E R V I N D U S T R Y ' S C O M P L E T E P A R T S & A C C E S S O R I E S P R O V I D E R With 72 locations nationwide and over 2,500,000 sq. ft. of warehouse space, Meyer Distributing has everything from RV parts and accessories to whatever your customers need for enjoying the outdoors or furnishing their RVs. And, with next day delivery to most locations, you can get what you need when you need it. MEYERDISTRIBUTING.COM | 800-222-3325

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