Wolters Kluwer Financial Services Launches RefundOne Q4

MINNEAPOLIS--Wolters Kluwer Financial Services announced today the release of its RefundOne™ Q4, a tax estimation solution for buy-here, pay-here (BHPH) automotive dealerships.

RefundOne Q4 allows BHPH dealers to estimate a customer’s 2009 federal tax refund at their dealership in the fall instead of waiting for tax season. The customer can then decide if they want to use the estimation as a basis for deferring down payment on a purchased vehicle until they receive their tax refund from the Internal Revenue Service (IRS) in 2010.

Wolters Kluwer Financial Services’ industry-exclusive, warranted Bankers Systems retail installment contracts are integrated into the RefundOne Q4 program, contractually tying the customer’s deferred down payment obligation to the purchased vehicle as collateral. This helps protect both the dealership and the customer, and meet compliance requirements of the Federal Truth in Lending Act (TILA).

“RefundOne Q4 is an ideal tool for buy-here, pay-here dealers as they look for ways to attract potential buyers to their dealerships in a difficult market,” said Lee Domingue, CEO of Indirect Lending at Wolters Kluwer Financial Services. “It helps dealers make more sales and reduce their inventory at the end of the year, while simplifying regulatory compliance for the dealership.”

RefundOne Q4 expands on and complements the company’s original RefundOne credit application and tax preparation service for dealers. RefundOne is used during tax season to estimate a customer’s tax refund amount, prepare a customer’s tax return, and apply for a refund anticipation loan on the customer’s behalf. This technology helps dealers better serve customers in January and February when they typically start to see an increase in tax-related vehicle sales.

For more information, visit www.WoltersKluwerFS.com/info/RefundOne.

About Wolters Kluwer Financial Services

Wolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include Bankers Systems, VMP® Mortgage Solutions, PCi, AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform Forms™. Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global information services and publishing company with annual revenues of (2008) €3.4 billion ($4.9 billion) and approximately 20,000 employees worldwide. Please visit our Web site for more information.