With the recent release of the Reynolds LAW Michigan F&I Library, Reynolds and Reynolds now offers a comprehensive catalog of standardized, legally reviewed finance and insurance (F&I) documents for franchised new-vehicle dealerships in 23 different states.

The latest to come online was, the Reynolds LAW Michigan F&I Library, was jointly developed by Reynolds Document Services and the Michigan Automobile Dealers Association (MADA). The library carries both paper-based and electronic formats of the forms.

“We anticipate that, as 2016 progresses, dealerships will continue to be challenged by increased regulatory demands as well as by consumers who are looking for a more rewarding retail experience when buying a car,” said Jerry Kirwan, senior vice president and general manager of Reynolds Document Services.

“The LAW Michigan F&I Library is one more example of the tools that Reynolds can provide dealers to help them respond to these business challenges directly and help them prepare for the coming age of electronic transactions,” Kirwan continued.

Kirwan added the documents in the LAW Michigan F&I Library are regularly reviewed for compliance with the latest automotive regulations. Reynolds’ forms specialists lead the review, in conjunction with Reynolds’ outside legal partners and representatives from MADA.

Kirwan noted that the documents in the LAW Michigan F&I Library are written in consumer-friendly language, which can help to create a more transparent and understandable F&I process and improve the customer experience.

In addition, by using standardized forms from the F&I Library, he said dealerships can achieve a more consistent and effective F&I process in every transaction.

In addition, the LAW Michigan F&I 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.

Now along with Michigan, Reynolds has libraries for:

— New Mexico
— Idaho
— Kentucky
— Arkansas
— Arizona
— Oregon
— Colorado
— Tennessee
— Maryland
— North Carolina
— Louisiana
— Alabama
— Massachusetts
— Ohio
— California
— Illinois
— Pennsylvania
— West Virginia
— Washington
— Virginia
— Texas
— New Jersey