Does Byrider provide franchisees with a CNAC Repossession Checklist?
Byrider Franchise · 2025 FDDAnswer from 2025 FDD Document
Appendix A – Exhibits Confidentiality and Non-Disclosure Agreement A.1a Laws applicable to the retail sales and financing of vehicles A.2a Addendum to the Byrider Confidential Operating Manual (Ohio operators only) A.3a Addendum to Byrider Confidential Operating Manual (Kentucky operators only) A.4a Dealership Daily Duty Roster A.5a Related Finance Company (CNAC) Worksheet A.6a Board of Director's Consent Resolution and Exhibit A A.7a Agreement to Purchase Automobile Contracts A.8a Financing Services Agreement A.9a Requirements from the ECOA A.10a Byrider Franchising Forms Program A.11a Limited Warranty Coverage (Repairs Covered) A.12a Maximum Finance Charge Rate worksheet A.13a Servicemembers Civil Relief Act (SCRA) A.14a Byrider Deal Jacket Checklist A.15a CNAC Deal Jacket Checklist A.16a Collection abbreviations A.17a Field Call Log A.18a Skip Sheet A.19a Legal terms associated with bankruptcy A.20a Reaffirmation Agreement (October, 2005 Bankruptcy Law) A.21a Proof of Claim A.22a CNAC Repossession Checklist A.23a CNAC Inventory of Personal Items A.24a Katz, Sapper & Miller letter: Reporting Discharge of Indebtedness Under I.R.C. 6050P A.25a Customer 1099-C cover letter A.26a Collection Call Monitoring form A.27a Predictive Index (PI) Survey A.28a What can and can't I ask in an interview A.29a Non-Competition Agreement A.30a Intentionally left blank A.31a Byrider/CNAC Anti-Money Laundering Plan A.32a Byrider/CNAC Whistleblower Policy A.33a Byrider/CNAC Fair Credit Policy & Acknowledgement A.34a Byrider/CNAC Red Flag and Identity Theft Program A.35a Gramm Leach Bliley Act Chief Privacy Officer Guide A.36a Buyer's Auction Log A.37a Inventory Log Book A.38a Byrider Vehicle Categories A.39a Comprehensive Inspection Requirements A.40a Vehicle Lot Ready Report A.41a This Vehicle Not for Sale sign A.42a Notice of Incompleteness letter A.43a Daily Driving Log A.44a Shop Maintenance Schedule A.45a Medical Supply Order Form A.46a Service Safety Meeting A.47a New Vehicle Check In Sheet A.48a
Source: Item 23 — Receipts (FDD pages 88–335)
What This Means (2025 FDD)
According to Byrider's 2025 Franchise Disclosure Document, Byrider provides franchisees with a CNAC Repossession Checklist. This checklist is listed as A.23a within Appendix A – Exhibits. This suggests that Byrider has a standardized procedure for franchisees to follow when repossessing vehicles financed through CNAC (CarNow Acceptance Company), Byrider's related finance company.
Having a standardized checklist ensures that franchisees follow legal and ethical guidelines during the repossession process. This can help protect both the franchisee and Byrider from potential legal issues or customer complaints. The checklist likely includes steps such as verifying the customer's default, providing proper notice, and documenting the repossession process.
For a prospective franchisee, this means that Byrider offers support and guidance in the often complex and sensitive area of vehicle repossessions. By following the CNAC Repossession Checklist, franchisees can minimize risks and maintain compliance with applicable laws and regulations. This is particularly important in the "buy-here-pay-here" business model, where repossessions may be more frequent than in traditional auto sales.