Big Turnout for Maryland F&I Certification Programs

Big Turnout for Maryland F&I Certification Programs

in all Federal Rules and Best Practices[/I]

There wasnêt an empty seat in two classrooms as 70 Maryland dealership representatives turned out in Greenbelt last week for the first F&I Professional Certification Program, sponsored by MADA and WANADA. In all, attendance for the three programs, which included Baltimore and Frederick, was over 150.

–It was very timely and very pertinent to the environment that we operate in today. It was a well done program and very useful to everyone who attended,” said WANADAês Immediate Past Chairman Dennis Rippeon who was one of the driving forces behind the development of the certification program.

Rippeon, who is vice president and COO of Ourisman Automotive, sent eight Ourisman finance people to the classes, including himself, and said all benefited. –Even if you had done your homework and were knowledgeable about the regulations, there were all kinds of small things that you need to know if a customer asks you,” he said.

For those unable to make these initial classes, Rippeon added, –We are already planning another round of classes for mid-June. Our goal is to get 90% or 95% of the dealers in Maryland certified so we can really show people we are effectively self regulating our industry.

Presented by the respected training firm, Jim Moran & Associates (JM&A), the day-long program was designed to take care that dealership F&I operations are compliant with the various laws that affect them, and to share best practices to ensure success in the car buyerês experience.

In its comprehensive workbook, JM&A explained the need for F&I Certification: –In today’s regulatory environment, dealership legal compliance has become a hot topic. Due in part to tools such as the Internet, automotive magazines, and various news reports, consumers have become conversant about dealership operations and the car buying process, and can be quick to take legal action if they feel that they are not being treated correctly.

–Additionally, federal lawmakers and state attorneys general are taking steps to ensure that automobile dealerships are complying with the law. It is critical, therefore, that the F&I professionals understand the laws that impact them and the dealership where they are employed,” said JM&A.

In a lively, straightforward manner, JM&A instructors Suzanne Lucas and Patrice Cummings offered up-to-date information including eye-opening fines for noncompliance regarding 10 federal laws affecting dealership financing operations.

At the end of the training, a test was administered, as the prerequisite to certification.

When plans are firmed up for future F&I certification classes, they will be announced in [I]The WANADA Bulletin[/I].