Friday, Mar. 17, 2017, 10:39 AM UPDATED 11:22 AMBy SubPrime Auto Finance News Staff
DAYTON, Ohio -
Earlier this week, Reynolds and Reynolds announced the release of the Reynolds LAW Maine F&I Library, just a short while after the firm unveiled a similar product for a neighboring state with the rollout of the Reynolds LAW Vermont F&I Library.
In both of these instances, as well as for the more than 30 other states where Reynolds offers resources, the library is a comprehensive catalog of standardized, legally reviewed finance and insurance (F&I) documents for franchised dealers in the state of Maine and Vermont.
“The pressure of regulatory scrutiny is a constant for automotive dealers,” said Jerry Kirwan, senior vice president and general manager of Reynolds Document Services. “The documents in the LAW Maine F&I Library are regularly reviewed for legal sufficiency by Reynolds' industry-leading forms specialists alongside our outside legal partners. As a result, the library is a tool designed to help dealers better meet compliance obligations and manage risk.”
Kirwan went on to say, “We are pleased to announce the new LAW Vermont F&I Library. Regulatory scrutiny is an ongoing pressure on automotive retailers, and the LAW Vermont F&I Library is a tool designed to help dealers meet compliance obligations and manage risk.”
Kirwan also noted that because the documents in the library are written in consumer-friendly language, they can help dealers to establish a clearer, more efficient F&I process. A more efficient F&I process can help lead to a better overall customer experience with the dealership.
In addition, the printed documents in the Maine and Vermont F&I Libraries are available in digital format, which can help facilitate the conversion to laser-printed forms and e-contracting transactions. Reynolds Document Services maintains licensing agreements with all major providers of electronic F&I (e-F&I) solutions.
Now with Maine and Vermont in the offering portfolio, other states where Reynolds resources are available include: Alabama, Arizona, Arkansas, California, Colorado, Georgia, Hawaii, Idaho, Illinois, Indiana, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Missouri, Montana, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, West Virginia and Wyoming.