Description
John Elias, Sales Specialist joins the AutoRemarketing podcast to explain the many moving parts of product refunds and the layered depth of complexity. When a triggering event occurs, dealerships, finance companies, and product providers/servicers all must navigate through a potential labyrinth of processes to get consumers their refunds. Listen here for more from Allied's John Elias, Sales Specialist.
Key Takeaways
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- Why the refund process is so complex
Multiple parties (providers, financial institutions, dealerships)
Disconnected systems and file exchanges
Regulatory and litigation pressures add confusion and administrative burdens
- Why the refund process is so complex
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- The importance of understanding compliance
Even in states without regulatory requirements
Consistent refund processing
Customer relationships and costly repercussions
Extensive lookbacks and increased workloads
- The importance of understanding compliance
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- Implications of unclaimed refunds
Processes can stall or even fail to trigger - take action and avoid UDAAP violations
Data issues, high dealership employee turnover, and activity surges - Remedies for refund issues
DIY, SaaS help, or opting for a managed service
A managed service can help manage, document, and streamline
- Implications of unclaimed refunds
Speakers
John Elias, Sales Specialist
