The automotive industry doesn’t move slowly. Technology evolves faster than a drag car, and regulations update more often than the lead in a track race. With these rapid changes, it’s easy for dealers to become distracted from the business of selling when bogged down in the complexity of it all.
That’s why having the right partner is essential. With expert guidance, dealers can minimize uncertainty, strengthen compliance, and maximize time spent on what matters most – selling cars.
Travis Hafer, Reynolds and Reynolds Regional Vice President, Strategic Partnerships, recently sat down with Brian Ankney for an episode of AutoSuccess Executive Spotlight to discuss how LAW® F&I documents, paired with advanced AI and robotics products, help Reynolds serve as that perfect partner.
“My goal is to work with [ADAs] and see what they are struggling with … and more importantly how Reynolds can help with that,” Hafer said. “Dealers are looking at a lot of things – litigation, heavy fines, and more and more people are looking at opportunities to make money. So, making sure that your documents are compliant is really critical.”
Hafer’s role also includes supporting large, multi-state dealer groups, who face the challenge of needing consistent documents across all their dealerships while still meeting the varying requirements of multiple states. This challenge is addressed through LAW’s state-specific F&I libraries, which include necessary and best practice documents crafted to meet the unique laws and regulations of each state.
Dealers see these libraries as a well-oiled machine, delivering consistency across rooftops, but the work that goes into creating quality state-specific documents cannot be understated. LAW’s in-house legal team continuously monitors state and federal legislation to determine when updates or new documents are needed. They work with multiple industry partners, including state ADAs and leading automotive finance firm Hudson Cook, LLP, to ensure dealers have access to the best F&I documents possible.
Hafer drove home the importance of dealers using F&I documents they can trust by highlighting the costs associated with going to court, or worse, paying settlements. He emphasized that a dealer may only face a compliance issue once – but that one instance is all it takes. Using F&I documents created, reviewed, and updated by an experienced and dedicated team provides a trusted first line of defense when dealers become the focus of government regulators or private plaintiff attorneys.
Click below to watch the full interview and hear more of Hafer’s insights into the compliance challenges dealers are facing – including the upcoming enactment of the California CARS Act and the expectation that similar legislation will be introduced in other states across the U.S. He also shares how advanced robotics and AI solutions complement Reynolds’ compliance offerings, helping dealers streamline operations while maintaining control.