Standard Operating Procedure (SOP): Handling Buy-Here-Pay-Here STIPS, GPS, and Insurance.

1.0 Purpose

Provide sales representatives with a structured and clear procedure for facilitating buy-here-pay-here transactions at Benitez Auto Group LLC.

2.0 Scope

This SOP covers the buy-here-pay-here deal process from initial customer commitment to the final sale. It’s applied when handling these specific transactions, excluding other sales types.

3.0 References

• Dealer Management System (DMS) User Guide
• Customer Data Protection Protocol

4.0 Definitions

Stipulation (Stip):

Documents the buyer must provide.

DMS:

Dealer Management System (Dealer Center) where customer data and documentation are stored.

5.0 Roles & Responsibilities

• I (Sales Representative): Handle the transaction, send stip links, liaise with underwriter and inventory manager, finalize contracts.
• Underwriter: Review and provide feedback on stipulations.
• Inventory Manager (Margarita Benitez): Coordinate GPS installation and state inspections.

6.0 Procedure

1. Send the Stipulation Link: Once the customer decides, send them the stipulation link for document uploads to DMS.
2. Guidance to the Buyer: Explain to the buyer the required documents: income proof, residence proof, and driver’s license/ID.
3. Coordinate with the Underwriter: Alert the underwriter about incoming stips via text or call.
4. Engage the Inventory Manager: Reach out to Margarita Benitez for GPS and, if required, state inspection.
5. Draft and Discuss Contracts: Prepare the contracts and ensure the buyer understands the need for verified stips before the final sale. Provide a time frame for follow-ups or reminders if stips aren’t uploaded.
6. Financial Aspects: Once you finish the contract, collect the down payment. Ask the customer for insurance details.
7. Handle Underwriter Feedback: If the underwriter flags any stips, promptly (within an hour) work with the buyer to address issues.
8. Finalize the Sale: After receiving approval and completing installations, generate the buyer’s tag and congratulate the customer.

7.0 Appendices

Dealercenter Stip collecting: https://support.dealercenter.net/hc/en-us/articles/4404631454740-Remote-Stips-Collection

Process Flowchart:

8.0 Revision History

Version 1.0, Initial Release

Feedback Loop

For continuous improvement, please provide feedback on this SOP after application to sales@benitezautogroup.com

Approval Signatures

• Sales Representative: _________ Date: _________
• Underwriter: _________ Date: _________