What should a salesperson do if they find inaccuracies in a customer’s financing application?

When a salesperson discovers inaccuracies in a customer’s financing application, it is crucial to notify the customer and address any discrepancies. This action ensures transparency and builds trust between the salesperson and the customer. Engaging with the customer to correct these inaccuracies can help avoid potential issues down the line, such as financing delays or complications that may arise during the approval process.

Addressing discrepancies proactively not only aids in securing the correct financing terms but also protects the dealership from possible liability or unethical practices that could be associated with misrepresentation. Clear communication allows the customer to provide accurate information, thus facilitating a smoother transaction and keeping the entire process above board.

In contrast, proceeding with the application without addressing inaccuracies could lead to significant problems, such as denial of financing later or dissatisfaction from the customer. Ignoring the inaccuracies outright can cause serious legal issues and damage to the dealership's reputation. Reporting to management after the sale is also not advisable, as it implies that the issue was not resolved, potentially leading to adverse outcomes for both the salesperson and the customer.