DAYTON, Ohio, Dec. 17, 2013 /PRNewswire/ -- Reynolds and Reynolds announced today the creation of the Reynolds LAW® Virginia F&I Library, a comprehensive catalog of standardized, legally reviewed finance and insurance (F&I) documents available to franchised new car and truck dealers in Virginia. The Reynolds LAW brand library of forms was developed jointly through a partnership between Reynolds Document Services and the Virginia Automobile Dealers Association (VADA).
"Changing regulations and new demands from consumers have increased the pressure on dealers to improve their F&I operations," said Jerry Kirwan, senior vice president and general manager of Reynolds Document Services. "As a result, dealers are looking for trusted ways to help them meet current compliancy standards, as well as stay up-to-date with customer service trends, improve efficiency in their F&I department, and offer consumers an improved car-buying experience."
The LAW Virginia F&I Library of documents was created and will be maintained by the combined expertise of Reynolds Director of Compliance Terry O'Loughlin, Reynolds' AFIP Certified compliance legal specialists, and the VADA.
"The Reynolds LAW Virginia F&I Library remains true to our core purpose of providing our member dealers with important business information and protecting their business interests," said Don Hall, president and CEO of VADA. "The VADA is pleased to partner with Reynolds to introduce this library of standardized vehicle sales forms. We're confident the library will help improve F&I operations and increase compliance, while reducing risk for our members. It will also help reinforce a consistent process in F&I that can enhance the car-buying experience for consumers."
Formed by dealers in 1943 as a response to the challenges of selling automobiles during World War II, VADA serves franchised new car and truck dealers throughout the commonwealth by advocating on behalf of dealers in legislature and obtaining economies of scale in the purchasing of products and services. Visit the VADA online at www.vada.com.
Reynolds' LAW brand is well established in the automotive industry as a brand of trust. LAW forms are available in all 50 states and Washington, D.C., and have been endorsed by a number of state automobile dealers associations and leading automotive finance institutions.
The flagship product of the LAW brand is the Reynolds LAW® 553 Universal Retail Sale Contract, the most widely accepted document in auto finance. The Reynolds LAW 553 is available in a number of different languages and is regularly reviewed by industry experts to help keep pace with new legislative and regulatory developments.
Reynolds Document Services offers similar LAW brand forms libraries to automobile retailers in California, Pennsylvania, and West Virginia.
Since the 1920s, Reynolds has been known as the leader in serving automobile dealerships nationwide with standard and custom business and vehicle sales forms to help dealers manage their operations more efficiently and serve their customers more effectively.
Reynolds and Reynolds is a leading provider of automobile dealership software, services, and forms to help dealerships deliver better business results and transform the customer experience. The company is headquartered in Dayton, Ohio, with major operations in Houston and College Station, Texas, and Celina, Ohio. Visit Reynolds online at www.reyrey.com.
SOURCE: The Reynolds and Reynolds Company