F&I TIP

Explain service contracts in plain language

When marketing service contracts, ask yourself: "How would I explain this to an eighth grader?" advises Nick Smyth, financial services regulatory attorney at Reed Smith law firm. Dealers should disclose what is covered and what is not covered in summary form "using plain English," not technical jargon that goes over the average person's head, he says. "Do it in a way that an eighth grader would understand."

Have a good F&I tip to share? Email Hannah Lutz at hlutz@crain.com
Tags:

0

Shares

ATTENTION COMMENTERS: Over the last few months, Automotive News has monitored a significant increase in the number of personal attacks and abusive comments on our site. We encourage our readers to voice their opinions and argue their points. We expect disagreement. We do not expect our readers to turn on each other. We will be aggressively deleting all comments that personally attack another poster, or an article author, even if the comment is otherwise a well-argued observation. If we see repeated behavior, we will ban the commenter. Please help us maintain a civil level of discourse.

Newsletters