Don’t overpromise benefits, advises RouteOne General Counsel Dan Doman. During a recent Webinar, Doman cited an example the National Automobile Dealers Association took from the Federal Trade Commission’s investigation of biweekly payments. NADA said high fees had cut a customer’s net savings to merely $43, even though he had saved $656 in interest. Said Doman: “If you tell the consumer they save $43 over the repayment period, and they make an informed decision, then OK.”
Give customers straight talk on benefits
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