| Regulatory compliance | Software should be designed to comply with Office of Foreign Assets Control and Specially Designated Nationals regulations, automatically checking the individual against the terrorist list and for ID verification. It should also support compliance for state, county and city taxes, as well as any registration details. |
| Dealer & traditional financing | Auto dealerships’ payments typically come in one of two ways: from traditional lending sources like banks or from the customers themselves in a “Buy Here Pay Here” dealer-financing model. An auto dealer accounting program should support both, managing payments from multiple parties and ownership types, reporting to credit bureaus, sending out automatic late fee reminders and repossessing the vehicle when/if necessary. |
| Credit checking | Since loans are involved, the dealership needs fast and easy access to the main credit bureaus. The software should be able to pull credit reports for Experian, Equifax and TransUnion, and be able to report data to those bureaus as well. |
| VIN database records | Auto dealership software should connect to VIN databases and/or decoding tools, making it easy to add new vehicles to your inventory and record sales data. |
| Repair order tracking | Managing service center repairs is an essential component for most dealers. Repair order tracking software can help manage job progress and efficiency. |
| Age policy settings | This feature, a specific benefit for automotive dealerships, allows the user to set the age limit a vehicle can reach on the lot before it is marked down or moved to wholesale. It will issue automatic reminders, therefore supporting the movement of old inventory before its costs exceed the value in keeping it on the lot. |
| Employee performance | Tracking sales results for individual salesmen, this feature will automatically calculate commissions, generate reports... |
Source: www.softwareadvice.com
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