Franchised new vehicle dealers work to provide competitive pricing and financing, along with the best quality customer service, while meeting the requirements of complex and highly-regulated transactions. AFIP certification is the cornerstone to the dealer’s compliance program. AFIP’s Franchised New Vehicle certification program has been designed to insure that F&I managers and other personnel working in Franchised New Vehicle sales are trained to meet the highest ethical and compliance standards.
NJ CAR offers a two-day Boot Camp to teach all of these complex laws and provide a platform for exam prep and review of the AFIP exam, which is proctored live on the second day.
AFIP Certification Course Topics include:
- Understanding the Law
- Contracts
- Elements of a Contract
- Truth in Lending Act & Regulation Z
- Retail Installment Sale Contracts
- FTC’s “Cooling-Off” Rule
- Consumer Leasing Act & Regulation M
- Rules Common to Regulations Z & M
- UDAP and UDAAP Claims
- FTC Credit Rules
- FTC Used Car Rule
- Equal Credit Opportunity Act (ECOA) & Regulation
- Fair Credit Compliance Policy & Program
- Fair Credit Reporting Act (FCRA)
- Red Flag Rule
- Risk-Based Pricing Rule
- Protecting Nonpublic Personal Information
- Privacy Rule
- Safeguards Rule
- IRS / FinCEN Form 8300 Cash Reporting
- USA PATRIOT Act & OFAC
- Federal Do-Not-Contact Rules
- Federal Odometer Act
- Vehicle Insurance
- Magnuson-Moss Warranty Act & Vehicle Service Contracts
- GAP Protection
- Voluntary Protection Products: A Model Dealership Policy
- Ethics
- State Laws