How good dealers flag bad deals

At Chrysler Capital we recognize that you are the first line of defense in identifying suspicious activity.

Recently, questionable finance transactions at two different FCA dealerships were halted thanks to the careful actions of the people at both locations. Landers CDJR, in Benton, Arkansas, and Caldwell CDJR in Columbus, Ohio, both took the necessary steps to review the information they had on hand, gain assistance from the proper authorities and take the appropriate measures when they recognized red flags on two separate transactions.

Each of the vehicles was either retained or recovered, resulting in thousands of dollars in savings.

Familiarizing your entire team with what to look for when such situations arise is a great start to deterring things like identity theft and financial fraud. The Federal Trade Commission (FTC) outlined many of the most common items to watch for, including those listed below:

  • Fraud or active duty alert present on applicant’s credit report
  • Applicant’s loan application demographics do not match their credit report
  • Credit report indicating pattern inconsistent with person’s credit history:
    • Increase in volume of inquiries to obtain credit over 90-day period
    • Unusual number of recently established credit relationships
    • Account(s) closed because of abuse of account privileges
  • Applicant’s government-issued identification looks altered or forged and photo does not match person
  • Identified trend that unrelated applicants are using same addresses or telephone numbers on loan applications
  • Person purposefully omits required information on application and does not respond to calls regarding incomplete application
  • Person who cannot provide authenticating information beyond what is generally available from wallet or credit report — i.e., cannot answer identity challenge question or provide paystub

For further information visit FTC.gov, contact the Chrysler Capital Fraud Risk Department at 855-541-7716 or your Dealer Relationship Manager.

Congratulations and thank you to both Landers CDJR and Caldwell CDJR for a job well done!