NADA has announced an optional program designed to strengthen a dealer's ability to comply with fair credit laws while preserving the competitive benefits of dealer-assisted financing.
You may download the following documents:
The cover memo from NADA, the American International Automobile Dealers Association (AIADA) and the National Association of Minority Automobile Dealers (NAMAD) announcing the release of NADA's Fair Credit Compliance Policy & Program.
The .pdf of NADA's Fair Credit Compliance Policy & Program.
The editable version of NADA’s Fair Credit Compliance Program (MS Word .doc format) that you can use for your dealership. Please click here to log into nada.org and fill out a disclaimer form first. You will be taken to a page where you can download the editable version of the program.
It is essential that dealers read the caveats and disclaimers contained within these documents and consult with their counsel when making decisions related to fair credit compliance.