Wednesday, Jul. 06, 2016, 11:49 AM UPDATED 11:57 AMBy SubPrime Auto Finance News Staff
DAYTON, Ohio -
During the past month, Reynolds and Reynolds added three more states to its network associated with Reynolds Document Services. Joining the ranks are New Mexico, Idaho and Kentucky.
Dealerships in 22 states can now access a comprehensive catalog of standardized, legally reviewed finance and insurance (F&I) documents.
“Based on industry trends during the first half of 2016, we expect automotive retailers will continue to be challenged by the increased demands of regulation,” said Jerry Kirwan, senior vice president and general manager of Reynolds Document Services.
“This suite of documents is designed to help dealers increase the efficiency of the F&I manager, streamline the F&I process, and create a smoother car-buying process for consumers,” Kirwan continued.
“Documents are regularly reviewed for compliance with the latest automotive regulations by Reynolds' industry-leading forms specialists alongside Reynolds' outside legal partners, helping dealers meet their compliance obligations and reduce their litigation risk,” he went on to say.
Kirwan also noted that this library of standardized documents is written in consumer-friendly language, which helps create a clearer, more efficient F&I process for the consumer. By increasing the efficiency of the F&I process, the overall consumer experience with the dealership can be improved.
In addition, the library also can help facilitate the conversion to laser-printed transactions or e-contracting, since the documents are available in both paper-based and electronic formats. Reynolds Document Services maintains licensing agreements with all major providers of electronic F&I (e-F&I) solutions.
“KADA is proud to be a part of this project with Reynolds Document Services. The LAW Kentucky F&I Library gives our dealer members the opportunity to improve day-to-day operations and customer service and increase overall efficiency in their dealerships," said Gay Williams, CAE, president of the Kentucky Automobile Dealers Association.
“We appreciate the level of expertise and effort Reynolds has put forth in creating this valuable tool. The program will also continue to offer forms that are specific to Kentucky and to KADA,” Williams continued.
Now along with New Mexico, Idaho and Kentucky, Reynolds has libraries for: