The Reynolds and Reynolds Company today announced the release of the Reynolds LAW® Rhode Island F&I Library, a comprehensive catalog of standardized, legally reviewed finance and insurance (F&I) documents for franchised new car and truck dealers in the state of Rhode Island.
These documents are used by dealership F&I offices to complete the vehicle sales process with car buyers.
“Regulatory scrutiny is an ongoing concern for automotive retailers,” said Jerry Kirwan, senior vice president and general manager of Reynolds Document Services. “We’ve developed the LAW Rhode Island F&I Library as a tool to help dealers meet compliance obligations and manage risk. Our industry-leading forms specialists work alongside our outside legal partners to regularly review the documents in the library for legal sufficiency with the latest automotive regulations.”
Kirwan also noted that because the documents in the LAW Rhode Island F&I Library are written in consumer-friendly language, they can help streamline the car-buying process and enhance the consumer experience with the dealership.
“Using the documents in the LAW Rhode Island F&I Library can help dealers create a clearer and more efficient F&I process, which can result in a better overall consumer experience with the dealership,“ said Kirwan.
The printed documents in the LAW Rhode Island F&I Library also are available in a digital format, which can help facilitate the conversion to laser-printed transactions and e-contracting. Reynolds Document Services maintains licensing agreements with all major providers of electronic F&I (e-F&I) solutions.
About Reynolds LAW® Brand Documents
The Reynolds LAW® brand is well established as one of the most trusted brands in the automotive industry. LAW® documents have been endorsed by a number of state automobile dealers associations and leading automotive finance institutions. LAW® documents are available in all 50 states and Washington, D.C.
The flagship product of the LAW® brand is the Reynolds LAW® 553 Universal Retail Installment Sale Contract, which is the most widely accepted document in auto finance. The Reynolds LAW 553 is regularly reviewed by industry experts to help keep pace with new legislative and regulatory developments. Dealers who use the LAW 553 find they can use one contract to finance dealers through multiple lending institutions.
About Reynolds Document Services
In 1866, Reynolds and Reynolds was founded as a business forms printer. Since the 1920s, Reynolds has been known as the leader in serving automobile dealerships nationwide with standard and custom business forms. Today, Reynolds Document Services carries on the company’s 150-year forms legacy by delivering a wide range of printed and electronic business documents, branding services, and dealership supplies that help dealers brand their retail enterprise, manage compliance risk, and improve operational efficiencies.