January 12, 2011 - 9:06am
#1
Hi All,I am performing an indirect auto lending audit. Currently, we have stated in our dealer contract that the dealer reserve will be based off the "amount financed". I am curious if anyone is basing the dealer reserve off the sale price of the car instead of the amount financed, which includes any warranties, processing fees, etc.? How is your credit union computing the dealer reserve amount?Thanks in advance!Samantha CornellBayPort Credit Unionscornell@bayportcu.org
