Digital Sales and Financing in the Auto Market

Growth in the digital sale and financing auto market has outpaced many of our expectations and most of our consumer finance laws. This presentation will consider the full cycle of an auto finance transaction from digital marketing, to application, to repossession within an online environment. We will also discuss the legal issues that a financing company should consider when their vendors, dealers, and customers incorporate computer, tablet, and mobile transactions and disclosures.

Key Takeaways:

  • Outdated laws provide the framework for modern digital contracting, which can stifle innovation
  • Understanding how consumers will navigate a website is critical for more than just marketing–it can impact the enforceability of the contract; and
  • The automotive industry is moving faster than the law in this area. While mortgage and other industry is receiving regulatory guidance, automotive industry is not. There is an opportunity to standardize effective processes.
Auto Finance Workshop