Market Diff (Funders)
Deferred down payment in CA, do we need hole check agreement? (itemized on the risc)
NO
Per exhbit D - name 3 acceptable forms of POR
Cable Bill Valid Driver’s License Electric Bill Bank Statement Gas Bill Credit Card Statement Garbage Bill Pay Stub Water Bill Cell Phone Bill (non-prepaid) Internet Bill The Work Number Landline Phone Bill Awards Letter Copy of Deed Mortgage Statement Property Tax Statement Vehicle Registration Native American Tribal Reservation POR
If the non-cancelable products is under 2500, do we need all pages?
No
What is Asburys max fee?
$2400
What 3 questions are acceptable to ask during a fraud call?
knowledge
what two markets can we proceed without hole check agreement (if made before first payment)
AutoNation and Enterprise only
You are trying to clear POI. Buyer receives ssi. You have ssa tax statement from previous year and 1 most recent bank statement showing direct ssa deposit. Can you clear poi w/out exception?
YES
What two products do we not fee the dealer for?
gap and esc
What can STG/Kargenie accept to waive POR/POI
CASH ONLY
What is the first step when completing a synthetic fraud placeholder SSN DB?
Review the CBR for decline reasons ( Review CBR is acceptable)
What market requires KBB book out in all states?
Enterprise
Can a funder clear a paystub with taxes not matching (VOE is completed)
YES
You are trying to clear driver license stip. You have no type identification on file. No identify alerts are firing. Name 3 sources we can use to clear driver license stip
POI, VOE/CC are completed, lexis nexis is 3, CBR matches aos
What is Enterprises processing fee?
Name at least 3 reasons for return due to CARFAX fail
1 or More Severe Accidents/DamageAirbag Deployed
2 or More Moderate Accidents or Moderate Damage
(Can be 1 Moderate Accident and 1 Moderate Damage)
Odometer Rollback or Unknown True Mileage
Salvage or Branded
TitleFlood
Fire Damage
Identify four markets for verbal confirmation (major mech)
AutoNation, Mike Maroone, Enterprise, Hertz, AVIS, and Echo Park
You got indirect on landline ties directly back to the business, no poi on file, only 8 percent down. can you clear VOE?
NO
Which market asked us to discontinue waiving POI/POR?
Hendrick
Name at least 2 dealer groups that can proceed with a CARFAX fail.
HGREG, AUTO SAVY, AUTO BOUTIQUE
which state is not required to have possession proir to funding
Massachusetts
Name the at least 2 types of motorcycles ACA will NOT finance.
off-road, racing, sports bikes, dirt bikes or anything similar to Can-Am, Spyder, Ryder Rally
What is the first step to take when reviewing INFLATED TRADE?
Pull CARFAX