DAYTON, Ohio – The Reynolds and Reynolds Company and the California New Car Dealers Association (CNCDA) this week announced the launch of the LAW® California F&I Library, which is a comprehensive catalog of standardized, legally reviewed finance and insurance (F&I) documents for California motor vehicle dealers.
The LAW California F&I Library, which is an outgrowth of the strategic alliance formed between Reynolds and the CNCDA in Oct. 2011, offers dealers a set of standard F&I forms designed to help manage risk, provide common defenses in litigation, and streamline processes.
“In today’s constantly evolving regulatory environment, automobile dealerships, state agencies, and financial institutions continue to look for ways to ensure appropriate levels of compliance and to gain efficiencies in their F&I processes,” said Jerry Kirwan, senior vice president of Document Solutions at Reynolds and Reynolds. “The LAW California F&I Library is a big step forward in helping dealerships manage risk and maintain compliance, while also streamlining the F&I process.”
The LAW California F&I Library was developed and will be maintained using the combined legal expertise of Reynolds’ Director of Compliance Terry O’Loughlin and the CNCDA Legal Department. Additional support for the project was provided by Manning, Leaver, Bruder & Berberich; Rob Cohen of Auto Advisory Services; Robert Robards of Automotive System Analysis; and Hudson Cook, LLP.
CNCDA President Peter Welch said: “At CNCDA, one of our highest priorities is to help dealers reduce litigation risk by providing legally reviewed documents that help standardize the F&I process. The CNCDA board chose Reynolds for this project because they share the same vision and bring to the table the expertise necessary to create and maintain these standard documents. The LAW California F&I Library will be instrumental in helping California new car dealers potentially reduce liability, provide common defenses in litigation, and streamline processes.”
Reynolds and Reynolds is the leader in serving automobile dealerships nationwide with standard and custom business and vehicle sales forms to help dealers manage their operations and serve their customers more effectively. The flagship product of Reynolds Document Solutions is the LAW® 553 universal retail sales contract – the retail contract most widely used by franchised car dealers across the United States. In addition, Reynolds offers a full suite of other document solutions suitable for F&I processes.
CNCDA is the country’s largest state association of franchised new car and truck dealers, representing more than 1,200 members. Last year CNCDA dealer members sold over 2 million new and used cars with aggregate total sales of more than $65 billion.
About Reynolds Documents Solutions
Reynolds document solutions and forms are available in all 50 states and have been endorsed by a number of state automobile dealers associations for the benefits they provide for dealerships, lenders, and consumers.
Reynolds and Reynolds – headquartered in Dayton, Ohio – was founded in 1866 as a business forms printer. Today, Reynolds is recognized as the leading provider of automobile dealership software, services, and forms that help dealerships manage business operations and improve business results. (www.reyrey.com)