To avoid trouble with lenders, dealerships should verify all information submitted by customers on a credit application, especially income, employment, time in residence, job description and housing expense, F&I trainer Gil Van Over says. Dealerships should also retain two copies of the credit application: a copy of the information the customer submitted, and a printout, signed by the customer, of the application the dealership sent out to lenders online.
Verify customer data, keep copies
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