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June 16, 2020
11:00AM - 12:00PM
E-Signatures and Digital Contracting: The Future Has Arrived
OADA Webinar - Complimentary for OADA Members
REGISTER HERE
While dealers have increasingly begun to migrate toward using electronic signatures and contracting at their dealerships over the past several years, others have resisted expressing concerns about disrupting their existing sales, closing, and funding processes. Now, with a large portion of the population working from home, subject to various forms of stay-at-home orders, and exercising other social distancing measures to limit the spread of the coronavirus (COVID-19), consumers have naturally come to expect to be able to do more, if not most, of the car buying process from the convenience of their homes.
Even those dealers that have been reluctant to do so are acknowledging that the ability to conduct business remotely and via digital contracting are essential for their daily business. In fact, adaptability may be the key to survival. It may also be the perfect opportunity for dealers to transform their sales and operational strategies for the better, to exceed customer expectations, and to edge out the competition. When key retail activities like trade-in offers, negotiations, paperwork, and aftermarket product sales are handled at the dealership, buyers often spend up to three or more hours in the showroom; but, when any of these activities are handled online, the time spent at the dealership drops significantly. And studies show that buyers who spend significantly less time at a dealership negotiating and signing paperwork report having better car buying experiences. In addition to increasing customer satisfaction, making more steps, or all of the steps, available online and at the time of remote delivery, can also benefit dealers by reducing costs, time spent on each deal, and funding times, while helping to ensure that sales documents are complete, accurate, and properly signed. That’s a win-win for everyone!
Of course, these processes raise issues of whether and under what conditions electronic signatures, digital contracting, and remote deliveries are permitted and enforceable under applicable laws. In addition, dealers have to be aware of and adopt appropriate policies to comply with requirements governing e-signature authentication and authoritative copies of contracts, data and information security rules, home solicitation or “door-to-door” sales laws, Red Flag and identity verification rules, notary requirements, and off-site sales prohibitions, to name a few.
OADA is pleased to announce that Deanna Stockamp, a partner at Stockamp & Brown LLC, will be joining us on Tuesday, June 16, 2020, from 11 am until noon to provide essential information for dealers who are considering or have already implemented online sales activities, e-signing, digital contracting, electronic document storage, and/or remote deliveries at their dealerships.
The webinar is complimentary for OADA members. Non-members will be charged a $50 connection fee.
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06/16/2020 11:00 AM
06/16/2020 12:00 PM
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E-Signatures and Digital Contracting: The Future Has Arrived
REGISTER HERE
While dealers have increasingly begun to migrate toward using electronic signatures and contracting at their dealerships over the past several years, others have resisted expressing concerns about disrupting their existing sales, closing, and funding processes. Now, with a large portion of the population working from home, subject to various forms of stay-at-home orders, and exercising other social distancing measures to limit the spread of the coronavirus (COVID-19), consumers have naturally come to expect to be able to do more, if not most, of the car buying process from the convenience of their homes.
Even those dealers that have been reluctant to do so are acknowledging that the ability to conduct business remotely and via digital contracting are essential for their daily business. In fact, adaptability may be the key to survival. It may also be the perfect opportunity for dealers to transform their sales and operational strategies for the better, to exceed customer expectations, and to edge out the competition. When key retail activities like trade-in offers, negotiations, paperwork, and aftermarket product sales are handled at the dealership, buyers often spend up to three or more hours in the showroom; but, when any of these activities are handled online, the time spent at the dealership drops significantly. And studies show that buyers who spend significantly less time at a dealership negotiating and signing paperwork report having better car buying experiences. In addition to increasing customer satisfaction, making more steps, or all of the steps, available online and at the time of remote delivery, can also benefit dealers by reducing costs, time spent on each deal, and funding times, while helping to ensure that sales documents are complete, accurate, and properly signed. That’s a win-win for everyone!
Of course, these processes raise issues of whether and under what conditions electronic signatures, digital contracting, and remote deliveries are permitted and enforceable under applicable laws. In addition, dealers have to be aware of and adopt appropriate policies to comply with requirements governing e-signature authentication and authoritative copies of contracts, data and information security rules, home solicitation or “door-to-door” sales laws, Red Flag and identity verification rules, notary requirements, and off-site sales prohibitions, to name a few.
OADA is pleased to announce that Deanna Stockamp, a partner at Stockamp & Brown LLC, will be joining us on Tuesday, June 16, 2020, from 11 am until noon to provide essential information for dealers who are considering or have already implemented online sales activities, e-signing, digital contracting, electronic document storage, and/or remote deliveries at their dealerships.
The webinar is complimentary for OADA members. Non-members will be charged a $50 connection fee.
OADA Webinar - Complimentary for OADA Members