Question:  Keith: In your Car Counselors TARP presentation at the 2010 NIADA Convention you discussed some suggestions for a successful Dealer – Lender/Vendor relationship, would you please summarize them for me?

Answer:  Sure thing, here they are:

Get each parties expectations on the table

žUnderstand each other’s business

žKnow what “correct paperwork” looks like

žDecide what a “complete deal” means

žEstablish a framework for handling “stips”

žCommunicate loan/deal criteria and how to handle changes

žBe consistent (understand look to book and debt to income)

žRemember it’s a partnership!