BHPH United - Buy Here Pay Here Dealer Education and Training for Subprime Auto Financing In House Financing Lease Here Pay Here Operations Compliance Leadership Marketing and Dealer Success Nationwide

Audit readiness is not a one time event. It is a daily discipline that protects your buy here pay here dealership, your customers, and your profitability. Our Buy Here Pay Here Audit Preparedness Training shows owners, managers, and frontline teams exactly how to organize records, prove compliance, and demonstrate strong controls when regulators, attorneys, banks, or investors review your store. From credit application through payoff and every step in between, you will learn how to document decisions, monitor risk, and remediate gaps fast.

The program is built for real store conditions and includes practical checklists, file structure standards, and sample audit trails. Whether you operate a single lot or multiple rooftops, you will gain a repeatable process that reduces findings, shortens exam time, and improves customer outcomes. For a broader learning path, explore related resources such as BHPH Compliance Education and BHPH Operations Training.

Well designed audit readiness pays for itself. Deal jackets move faster. Collections conversations are documented correctly. Charge offs and repossessions follow policy. Your data matches your contracts and your communications. This training connects the dots across sales, underwriting, accounting, collections, servicing, and leadership so your team can prove what they do, why they do it, and how they control risk. For more insights, visit the Blog or learn about our BHPH Operations Best Practices.

What audit preparedness means for a BHPH dealership

Audit preparedness means your dealership can quickly produce accurate, complete, and consistent evidence that your people follow written policies and that your controls work. It covers everything from identity verification and deal structuring to payment posting, insurance tracking, default management, repossession, and customer communication. It also includes the way you safeguard data, manage vendors, and handle complaints. A prepared store knows where each record lives, how it connects to policy, and how to fix gaps before they become findings.

Who this training is for

Owners and executive leaders seeking fewer exam findings and stronger enterprise controls
General managers and controllers responsible for daily policy enforcement and reporting
Sales, F&I, underwriting, and collections teams who build the audit trail in real time
Compliance managers tasked with file reviews, training records, and issue remediation

Common audit types your store should be ready for

State regulator examinations for retail installment sales, collections, and repossession practices
Federal rule reviews aligned to privacy, data security, credit reporting, and fair lending principles
Independent financial audits focused on revenue recognition, impairment, and portfolio valuation
Lender, investor, or buyer due diligence on your portfolio and operational controls
Internal audit and self assessment to prepare for any of the above

Training modules included

Policy to proof: map each policy to the specific records that prove conformance
File structure standards: build deal jackets and servicing files for quick sampling and review
Underwriting evidence: risk grading, stip management, affordability, and adverse action documentation
Payment performance: posting accuracy, late fee rules, extensions, deferrals, and payment arrangements
Collections controls: communication logs, text and call governance, hardship handling, and repossession files
Credit reporting integrity: Metro 2 principles, dispute handling, and data reconciliation routines
Privacy and security: access controls, vendor oversight, incident logs, and staff training records
Accounting alignment: charge off timing, non accrual, impairment, and reconciliations that support exams

Deliverables you can use immediately

Audit sampling checklist and request list template tailored to BHPH operations
Deal jacket index and servicing file index with retention guidance and naming conventions
30 60 90 day readiness plan with role based tasks and checkpoints
KPI scorecard for audit health including file completeness, timing, and exception rates

A simple 30 60 90 day readiness plan

In 30 days, standardize file structure, verify core policies exist and are current, and begin internal sampling across a small set of deals. In 60 days, expand sampling, reconcile system data to contracts, and correct exceptions with documented remediation. In 90 days, perform a mock exam, capture lessons learned, and formalize ongoing quarterly reviews. The training provides step by step guidance for each phase.

Metrics that matter during an audit

File completeness rate by document type and by store
Exception rate trend for underwriting, payment processing, and collections notes
Time to fulfill an audit request list and time to close remediation items
Data reconciliation differences between DMS, LOS, CRM, and credit reporting files

Frequent gaps we see and how to fix them

Most findings come from inconsistent documentation, missing explanations for exceptions, and data mismatches across systems. Another common issue is an incomplete communications log, especially when teams use text, chat, and email without a unified record. The training addresses these gaps with a unified file index, documentation standards, and a communications capture protocol to ensure your store can show facts quickly and consistently.

Role based responsibilities

Sales and F and I: verify disclosures, identity, and stip documentation before funding
Underwriting: document ability to pay, deal structure logic, and adverse action reasoning when declined or countered
Collections: record customer contacts, hardship decisions, extensions, deferrals, and repossession milestones
Accounting: tie contracts, payments, and charge offs to the GL with reconciliations and evidence of review
Compliance: maintain policy library, training records, exception logs, and quarterly self audits

Connect audit readiness to profitability

Audit readiness reduces rework, shortens funding cycles, and improves customer outcomes. Clean files and consistent practices allow your staff to spend more time selling, serving, and collecting. Tighter controls also reduce charge offs by catching risks earlier, and they enable better pricing and capital terms. When you can prove performance and controls, you earn better trust from lenders, insurers, and partners.

Related learning paths and resources

Strengthen your program with topic specific education and best practices from our library. These pages complement the audit curriculum and help your team mature controls in each function.

BHPH Compliance Best Practices
BHPH Collections Best Practices
BHPH Underwriting Education
BHPH Accounting Education
BHPH Payment Performance Education
Used Car Dealer Audit Preparedness Education
Dealer Compliance Best Practices
Education and Events
Home and About Us for organization background

Helpful links for deeper study

FAQ: Buy Here Pay Here Audit Preparedness

Include application and ID verification, disclosures, signed retail installment contract, trade and title records if applicable, stip documentation, proof of income and residence if required, delivery documents, add on product forms, and a clear index. Link each document to policy so reviewers see intent and evidence together.

Run monthly sampling for each department and a quarterly mock exam across sales, underwriting, accounting, and collections. Track exception types and closure timing. Use this data to update training and policies and to demonstrate continuous improvement during real exams.

Incomplete communication logs and undocumented exceptions. Examiners look for consistent notes that match payments, extensions, and repossession steps. Adopt a communications capture protocol and require evidence for every exception to policy, including hardship decisions and fee reversals.

Compare DMS balances, statuses, and dates with the last Metro 2 file. Investigate exceptions like status mismatches, charge offs without correct dates, or payments not reflected. Document your reconciliation process and keep dispute logs handy to show timely responses and corrections.

Provide a policy library with version control, role specific training assignments, completion dates, and attestations. Include evidence of refresher training, sign offs for updated procedures, and rosters for any coaching sessions tied to exception trends. This shows your store corrects issues and sustains improvements.