Auto retailers continually make the same errors in deal jackets in part because lenders aren't giving them specific data on the problems, according to Jessica Gonzalez, director of winning strategies and account management for artificial intelligence deal verification provider Informed.IQ.
Telling a dealership, "I really need you to start submitting clean deals" can be ineffective on its own, Gonzalez says. "Without that concrete information, it's kind of putting a finger in the air," she says.
An auto lender dealership representative would have more success if they could point specifically to a constantly missed signature or inaccurate form, Gonzalez says. Identifying defects and understanding the cause helps lenders and dealers change behavior "because it's more actionable," she says.
Have a good finance and insurance tip to share? Submit it to John Huetter at [email protected] and Gail Kachadourian Howe at [email protected].