AUGUST 2018
www.FIADA.com
Information and Insight for Florida Used Car Dealers
Join us at the FIADA Town Hall and Board Meeting, Oct. 12-13 at the Hard Rock Hotel in Daytona Beach. Register online at www.FIADA.com
FIADA QUALITY DEALER
Meet the 2018 FIADA Quality Dealer of the Year, Jeffrey Rhoads. Page 16 www.fiada.com
August 2018 — Independent Dealer — 1
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Dealer Independent
MAILING ADDRESS 1840 Fiddler Court Tallahassee, FL 32308 TELEPHONE (850) 385-2712 (800) 237-0448 FAX (850) 385-3251 WEBSITE www.FIADA.com EXECUTIVE COMMITTEE Scott Lanier, CMD President Brad Joel Senior Vice President Lisa Compagno Chairman of the Board Jenay Rhoads Secretary Phil Risley Treasurer Frank Fuzy Regional Vice President George Hickey Regional Vice President Steve Marbais, CMD Regional Vice President Brandi Noegel Regional Vice President Jim Winterick, Sr Regional Vice President FIADA STAFF Lisette Mariner, CAE Executive Director Terry Myers Educational Instructor Jason Berthiaume Education and Events Manager Christy Taylor Editorial/Advertising
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FIADA • 1840 Fiddler Court Tallahassee, FL 32308 (850) 385-2712 • Call/Text: (800) 237-0448 Fax (850) 385-3251 • www.FIADA.com The Independent Dealer is a publication of: Florida Independent Automobile Dealers Association, 1840 Fiddler Court, Tallahassee, FL 32308 The magazine is published every month in Tallahassee and distributed to Florida new, used, wholesale and lease/retail car dealers. Advertising rates are available upon request. The statements and opinions expressed herein are those of the individual authors and do not necessarily represent the views of Independent Dealer or the Association. Likewise, the appearance of advertisers, or their identification as members of FIADA, does not constitute an endorsement of the products or services featured.
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Contents August 2018
For members of the Florida Independent Automobile Dealers Association
C O L U M N S & F E AT U R E S 4
President’s Message Scott Lanier, CMD
6
Executive Director’s Message Lisette Mariner, CAE
8
Membership News
10
Back to Basics Are you a Blockbuster or a Netflix? To be successful in the future dealers need to recognize trends and learn how to adapt.
12
Keys to Insurance Industry veteran Kevin O'Connor of Dealers Insurance Services describes the approaching "hard market" conditions he has seen over the past few months finding coverage for independent dealers
16
Just a Small Town Guy FIADA's 2018 Quality Dealer of the Year Jeffrey Rhoads shares about his career, his home town and his surprise at winning the coveted award.
22
Consistent Business vs. Swinging For the Fence Is it a better business strategy to try for the "home run" or to just play an even, consistent game?
24 Welcome to the Attribution Revolution Attributing sales and leads to the marketing avenue they came from is the next step in a solid digital ad strategy. Are your analytics going far enough? 28 Industry News News and headlines of interest to the Florida Used Car Industry and beyond.
August 2018 — Independent Dealer — 3
FROM THE PRESIDENT
Five Thousand Plus Reasons to Be a Member BY SCOT T LANIER, CMD, FIADA PRESIDENT
I
have had the honor and privilege of being associated with the Automobile industry for 55 years. As many of you know, I am a second-generation dealer, of a family dealership that was started in 1963. Throughout all those years I have had much exposure to the FIADA, CFIADA, and the NIADA. As a kid I’d help my dad setup for events when he was President of the Central Florida Independent Automobile Dealers Association. That association is no longer in existence, but I can remember experiencing the comradery and friendships that were cultivated among so many of the dealers here in Central Florida. What happened to those local associations I’m not sure, but at one time there were many local associations across the state. However, those same friendships and experiences still happen today on a state level. If you desire to further your education in the industry that provides a living for you and your family, a great place to start is the FIADA. The association helps dealers on so many levels and is a resource for any issue that you may experience as an independent dealer. I have had the opportunity to field many questions from dealers concerning their businesses and they have ranged from curbstoners violating laws that protect the public, the titling of vehicles, lawful repossessions, legal anxieties, to legislative concerns. Not that I have all the answers by any means, but there is a team of individuals in place that can help with any question you may have concerning your business or this industry. Many real benefits come from being a member of the association, let me share two important benefits.
1. Legislatively – Every bill introduced in every legislative session is monitored by the FIADA. Sandra 4 — Independent Dealer — August 2018
and Allen Mortham are your lobbyist fighting to keep our industry from harm from legislators who know little to nothing about your business. Sandra was the first women to be nominated to Florida’s Speaker of the House. 2. Legally – The association has Rob Sickles on its legal team to help you with any legal issue or question you may have. Recently, Rob successfully defended an independent dealer from a case that if it would have been lost, every dealer in the state would have had devestating repercussions. Rob represents over 400 clients from dealers to finance companies throughout the southeast. We are fortunate to have him on our team. These are a two real benefits, benefits that can help you sleep better at night, knowing there is a team standing behind you. I could go on and on with member benefits such as the coupons that essentially make your membership free, free continuing education, automatic NIADA membership, 24 monthly magazines filled with ideas about your business, the list goes on and on. Currently there is a contest in play with a one-time grand prize of $5,000 to the one person that recruits the most memberships between now and the October Town Hall and Board of Directors meeting. Could you use $5k? If so, break out those selling skills, not that you really need them because membership is a no-brainer. Dust off your presentation and help us build upon our strong foundation of fantastic dealers across the Great State of Florida! Cordially, Scott Lanier, CMD FIADA President www.fiada.com
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August 2018 — Independent Dealer — 5
EXECUTIVE DIREC TOR’S MESSAGE
Back in the Routine and Ready to Work BY LISET TE MARINER, CAE, EXECUTIVE DIRECTOR
T
ime flies when you’re having fun! Summer is over, and school is back in session for us in Leon County and most of the country. If you were on Facebook, you got to see your friends and family’s children grow another year. While kids are heading back and getting into their routines, it’s also time for FIADA to begin committee selections, that means it’s time for you to start thinking about serving on a committee. Our magnificent President, Scott Lanier’s term ends October 12, and a new president will be installed. One of Scott’s initiatives was to increase membership. We’ll also find out if someone has earned the coveted $5,000 we set aside for the top recruiter. There’s still time to get in the game! Remember the person that recruits the most members between May 1 through September 30 will win. Note that you must have recruited at least 10 members to be eligible. Let’s help Scott achieve his goal! Take the application on page 30 to the guy down the street who you know is not a member, and talk to him about the benefits of joining.
Committees are a great way to get involved and to help set the course for FIADA. We have four committees that oversee virtually everything we do as an association, as well as help strengthen the independent dealer community as a whole. Each committee has a different objective, but I'm sure there's something of interest to everyone: Convention: The Convention Committee is an ad hoc committee that is charged with reviewing educational programs, sponsorship opportunities, entertainment, theme and general assistance with the annual convention. Membership: The Membership Committee is responsible for developing membership in FIADA. 6 — Independent Dealer — August 2018
Past President and Legislative Committee Member Jim Winterick Sr. Presents a PAC check to Manny Diaz for Senate District 36.
Member Benefits: The Member Benefits Committee shall have the authority to recommend FIADA policy concerning all FIADA approved member benefit programs. This includes recommendation of approval of all new programs, amending or canceling current programs. Legislative: The Legislative Committee has the authority and duty of reviewing the progress of legislation at the state level, making recommendations regarding legislative issues and keeping the FIADA Executive Committee informed on all legislative matters affecting the independent automobile dealer industry and FIADA. All members in good standing are welcome to join one (or more) committee. Committee appointments (oneyear terms) are typically made in November shortly after the Annual Meeting. Committees meet periodically via conference call. All that is really required is an enthusiasm for the industry and willingness to share your input and ideas. If you are interested in serving on a committee, you go online at https://www.fiada.com/page/Committees or of course email me directly at LMariner@fiada.com. www.fiada.com
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August 2018 — Independent Dealer — 7
MEMBERSHIP NEWS
New Members
JULY 2018
ALL ASPECTS AUTOMOTIVE Delray Beach, FL Robert Hochswinder Sponsor: Terry Myers
CARISMA AUTO GROUP, INC. Tampa, FL Servet Senturk Sponsor: Kevin Scott
KARTAL, INC Pompano Beach, FL Erkan Acar Sponsor: Terry Myers
AUTOMOTIVE FINANCIAL OF AMERICA, INC. Orlando, FL Mary Cinder Sponsor: FIADA
EXCELLENT AUTO SERVICES INC, DBA EXCELLENT AUTO MALL Fort Myers, FL Asuri Matos Sponsor: FIADA.com
RIDE TODAY MOTORS Jacksonville, FL Watson Dorcent Sponsor: FIADA
Renewing Members
JULY 2018
30+ Year Members Autorama Auto Sales Motorcar Gallery, Inc. Tallahassee Auto Auction 20+ Year Members Gulfstream Motor Credit Co.
Fort Myers, FL Ft. Lauderdale, FL Tallahassee, FL Miami, FL
10+ Year Members Andrew Thomas Motorcars Splish Splash Auto Sales, Inc. Tampa Carstore, Inc. Value First Auto Sales, LLC World Imports USA, Inc.
Bradenton, FL Princeton, FL Tampa, FL St. Petersburg, FL Jacksonville, FL
Under 10 Year Members ASAP Towing & Storage, INC. Auto Network Inc.
Jacksonville, FL Pensacola, FL
Auto Sales of Winter Garden, LLC Automotive Financial of America, Inc. B & C Autonet Blossom Car Center CGH Leasing DEALERPLATFORM, LLC Direct Auto Exchange, LLC FLATraders.com Fun To Drive, LLC. Jeff's Auto Sales & Service March Motors, Inc. MJC Classic Cars LLC PassTime Regional Wholesale, Inc. FL Rick's Auto Marketing Center South
WEST FLORIDA TRADES, INC. DBA TAMPA AUTO SHOWROOM Tampa, FL Neal Bernes Sponsor: Kevin Scott
Winter Garden, FL Orlando, FL Port St. Joe, FL Tampa, FL Vero Beach, FL Neptune Beach, FL Tallahassee, FL Panama City, FL Bonita Springs, FL Port Charlotte, FL Jacksonville, FL Lakeland, FL Littleton, CO Haines City, FL New Smyrna Beach, FL
Rejoining Members JULY 2018
H GREG AUTO AUCTION Doral, FL Greg Hairabedian
Download the FIADA app now to get access to all of your FIADA benefits whenever you need them:
CONSUMER AUTO CREDIT INC. Tampa, FL Roniel Vasquez
COUPONS | Tap of the app you can access your coupons and discounts whenever and wherever you like.
AFFORDABLE AUTOS INC Debary, FL Claire Stepan
SOCIAL MEDIA | Connect with FIADA via Facebook.
8 — Independent Dealer — August 2018
CALENDAR OF EVENTS | Access the calendar and register for upcoming events all in one place. TECHNICAL ASSISTANCE | Use the FIADA app to help find answers with our technical assistance line.
www.fiada.com
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August 2018 — Independent Dealer — 9
BACK TO BASICS
Are you a Blockbuster or a Netflix? BY TERRY MYERS
The only thing certain in life is change. Be ready to adapt as the used car industry changes or prepare to be knocked out of the competition.
A
recent article made the following statement: “I believe it’s hugely wrong to view the future with the perspective that a 2018 dealership ecosystem can meet tomorrow’s consumer shopping dynamics, needs, delivery systems, models, and structures. Blockbuster Video made plans based on its current weather and ignored the forecast about storms ahead known as Netflix—which is now valued at more than Disney.” Jim Maxim, Jr., President of MaximTrak, a RouteOne company, Dealer Marketing Magazine, July 18, 2018. Based upon the 2018, NIADA/ NABD/FIADA June convention in
Florida, I could not agree more! The revelations about the current and the future of this great industry confirm and strengthen the dealer’s need to get up to date about the access points customers use and will be using. Ever hear the statement, “The man with the most toys wins”? This is not true of eternity, but it is true for dealers today and tomorrow. The consumer of today and tomorrow knows as much or sometimes, more about the vehicle, their financing qualifications, available options and how to get past the anticipated used car dealer ‘BS’. They know what they want, how to find it and what they are willing to pay for it. They want to deal with a dealer where ‘BS’ stands for
‘Believable Story’. Rules, laws, statutes and good business practices are not optional, neither is listening to your customers. Go to www.FIADA.com and www.NIADA.com and research approved vendors that may help you get up to date with how to best serve the customer’s demand for better, faster and more efficient access to what they want and are willing to purchase. Be able to answer the questions: “Who is my customer?” “What do they want?” “How much are they willing to pay for it.” “What research tools do they use to find me?” then deliver. Wow! What a concept. Adapt or die! Dedicate time to your future. Learn more about the resources successful dealerships use today and set aside time [30-minutes once a week] to keep learning and growing. It is your future. No one cares more about it than you. Articles are the opinion of the author and are not intended to be legal or accounting advice. The intent is to share thoughts and concepts that help the business owner(s) find new and perhaps revisit, ways to be as successful as they are capable of being. Terry can be reached at (727) 804-7375. Email: tmyers@floridaautodealerschool.com. Feedback is appreciated and encouraged. Terry LB Myers, author, lecturer, FIADA instructor, FADS owner/instructor.
10 — Independent Dealer — August 2018
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August 2018 — Independent Dealer — 11
KEYS TO INSURANCE KEYS TO INSURANCE
It's a Mess Out There Insurance Predictions for the New Year BY KEVIN O'CONNOR, CIC, CRM
Current market trends are having an adverse affect for Dealer Insurance products. Understanding why may your dealership BY KEVIN O’CONNOR, INSURANCE AGENT OFhelp RECORD weather the storm.
W I
but even with the increases, the e just went through one to keep them from having to pay results are still unprofitable. of the most difficult out. This has been going on in some am excited to announce the resurrection of “Keys to it difficult to find policies on dealers that never had an months we’ve had in ages form or fashion since the 2004 storm Insurance,” a column I wrote for many years in this issue in past years. Add Thesetochanges number of this factcaused that inaApril of this trying to get accounts placed. In season. With all of this tightening on magazine throughout the 1990s and up until 2005. The insurance companies tothe withdraw from the Florida market year “800-pound gorilla” in the many cases, price wasn’t the issue, it the physical damage side, the garage column touched on the subjects relating to the insurance or limit what they offer causing a supply and demand world of Garage Liability, Zurich, issue was finding the coverage the client liability has been relatively stable, needs of the non-franchised motor vehicle dealer. which subsequentlyannounced raised rates. On exiting the positive side, the it was the market needed that made me lose sleep at until now. insurance industry in hasa number record surplus capital thanks in of states including night. In our industry, we call this Starting this month, we will be doing a quarterly edition large part to lower than expected catastrophe losses of over Florida. They insured a majority the beginning of a “Hard Market.” Garage liability falls under of the column. We plan to discuss subjects such as risk the last few years and increased investments yields. Most all the big franchised dealers as well It’s defined by rising prices and commercial auto liability in the management ideas to help reduce your insurance costs and of the insurance industry analysts expectindependents. the trend of as many of the larger shrinking availability and it isn’t fun insurance world. Commercial eliminate unnecessary claims, changes in insurance market increasing rates to slow even reverse in the near future. Otherorinsurance carriers have for us as agents and even less fun for Auto Liability has seen a steady conditions, trends in pricing and coverage availability, new Unfortunately therefollowed are no crystal balls to tell us what to suit creating a vacuum dealers having to buy insurance in it. deterioration of results from as far products available to the dealer industry and more. expect in 2014. All of wecoverage can do isavailability keep a close eye on the out there. back as 2011. Rates had been flat or industry and do ourBusiness best to keep the readers this column 101, when supplyofgoes What happened to cause this? Like even decreasing for the 5 years prior This past year was a challenging year in our business, ahead of the curve.down, prices go up. the old saying goes, “everyone’s got to 2011 then suddenly everything especially here in Florida. A new “wind modeling” system an opinion and this is mine.” Here changed. Commercial auto losses was implemented which completely changed the way On a personal note,The I wanted to thankloss theratios, FIADA Board deteriorating mixed are my thoughts on what I have seen have grown from $744.8 million in carriers look at certain areas. This new system of Directors for thewith votethe of confidence in electing us exit of insurance carrierstheir happening in the industry. 2001 to over $2.9 billion in 2016. identified that non-coastal areas had Agent of Record. Our team of insurance professionals from the class of business has forced Carriers have been nibbling away at more hurricane exposure than was specialize in your industry and make it our job to know the remaining carriers to tighten up The obvious cause of blame would the losses with small rate increases, previously believed and pricing how your business works and understand what yourto and raise premiums be the storms we have of policies were revised dealership needs to best protectbeyour We their are sureassets. to protect endured over the last accordingly. The available for questions from any association member profitability. We are three years. While this claims from whether they are clients or not seeing and wecarriers will dotaking our best to had an impact, the 2012’s answer those questions in a completely impartial manner. as much as 25% rate storms were actually Hurricane increases and at the same just a small part of a Sandy had We hope that Keys to Insurancetime, is anreunderwriting informative and much bigger picture. Yes, a devastating interesting column and proves their to thebook. readers thatLong insurance Many insurance companies effect on the Dealers can be fun. time clients are being continue to be afraid of Open Lot insurance non-renewed, to find that catastrophic losses on marketplace. As a the replacement policies dealer inventory. Many result, the insurance Kevin O’Connor of Dealers Insurance Services, Inc. isand the are more expensive have been excluding carriers are now FIADA Insurance Agent of Record. If you have insurance have much less coverage wind, hail and flood for looking more closely at flood related questions, contact FIADA at (800) 237-0448 orto. visit than the client is used awhile now and if you're exposure than ever before making the DIS website at www.dealersinsurance.com. lucky enough to get Interestingly, the property it, they’ve created new and casualty insurance deductible structures www.fiada.com 10 — Independent Dealer — January 2014 12 — Independent Dealer — August 2018
FIADA Jan 2k14.indd 10
www.fiada.com
1/10/2014 11:03:59 AM
industry as a whole is extremely healthy. It was just announced that the net income doubled to 17.1 billion in first-quarter 2018, up from 7.9 billion in first-quarter 2017. These amazing results were due to lower than expected catastrophe losses, an improving economy and the fact that domestic insurers aren’t having to buy as much reinsurance from foreign affiliates. With all that good news, you’d think the dealer niche would have a silver lining but right now, it simply doesn’t. The two key factors driving dealer insurance pricing are commercial auto and dealers physical damage and these just happen to be two big losers in carrier results. On a good note, the insurance industry is famous for being cyclical and these dark days will end. It’s my belief that the dealers will have to rethink the way they operate and adjust to a changing market. Larger dealers are already adapting to these current trends by reducing or even eliminating the use of demos, reducing the number of tags they keep on hand, eliminating the use of “independent contractors”, creating storm avoidance plans and being more proactive to risk management as a whole. It’s my hope this gradual paradigm shift in the way a dealer operates will eventually trickle down to the smaller dealers and make the class of business more attractive to insurance underwriters.
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August 2018 — Independent Dealer — 13
FOR SALE OR LEASE
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This property is all about the neighborhood and the exposure. It has been the home of Mike Kashtan's very successful automobile dealership for several years. Mike is now retiring and the property is available for immediate SALE OR LEASE WITH AN OPTION TO BUY. Park Boulevard is a six lane major arterial roadway between the beach and Interstate 275 with a 2017 FDOT traffic count of 52,500 cars per day. Neighbors include Publix, Lowes, CVS, Wells Fargo, Chase Bank, T-Mobil, Pizza Hut, and Starbucks. Other neighbors include Pet Supplies Plus, Achieva Credit Union, Game Stop, and Sam's Club. The Wagon Wheel Flee Market just west of the site attracts 10,000 visitors on busy weekends. Westbound traffic enters the site via a median cut with a turn lane, and eastbound traffic is slowed by the traffic light at Belcher Road just to the east. Improvement to the property include 3,794 SF sales office which is in excellent condition and a newly constructed 2,550 SF detail shop. The property is fully fenced, very well lit, and includes 16 security cameras, a computer controlled digital sign, and 525 feet of frontage on Park Boulevard. Shown by appointment. OWNER FINANCING AVAILABLE!
Contact Listing Broker Bill Bach at (813) 244-6611 for more details 14 — Independent Dealer — August 2018
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August 2018 — Independent Dealer — 15
Just a Small Town Guy BY CHRIST Y TAYLOR
FIADA's 2018 Quality Dealer of the Year Jeffrey Rhoads has made a big name for himself in a small-ish town on Florida's Gulf Coast.
T
he city of Dunedin is one of Florida’s hidden gems. The not-so sleepy town in northern Pinellas County nestled between Clearwater and Tarpon Springs on the Gulf Coast is known for its beaches, pine forest and beautiful Honeymoon Island State Park. It is the original spring training home for the Toronto Blue Jays and where the PGA began. Throughout the years, the not-so small town has boomed to a population of over 38,000 and Jeffrey Rhoads has had a front row seat from his office at Florida Auto Exchange. Located at the corner of Main Street and Belcher Road, two of the town’s major thoroughfares, Jeff says the location is one of the secrets to his dealership’s success. Before he ever knew about Dunedin, Jeff was working a retail career in Cleveland, Ohio. Jeff says his move into the car business came almost more out of necessity than desire. Though he has always loved cars (especially Corvettes) he was 16 — Independent Dealer — August 2018
Jeffrey Rhoads (right) receives the Quality Dealer of the Year Award, with his wife Kathleen (left) and daughter Jenay (middle).
working as a manager for Federated Stores when his wife, Kathleen, gave him the news they were going to have a baby. Jeff had just given his two week notice with hopes of pursuing a career in real estate and now knew he would have to line up a steady-paying job to supplement the irregular commission checks as a rookie realtor. He stopped at a Chevrolet dealership that was looking for a salesman and got his first interview. Soon after, he started working as a salesman.
largest Chevrolet dealership in the world. He then started looking into the idea of owning his own Chevy dealership one day. After a five year program with the company, Jeff started scouting potential dealerships to buy. The problem was, huge stores like the one he was used to were out of the price range.
“That first month I made as much money as I would have on my next promotion at Federated Stores,” Jeff said.
After some frustration and a few missed opportunities, Jeff got a call and a job offer from a dealer in Clearwater. With three little ones now in tow, and the dreams of becoming a Chevy dealer starting to fade, he decided to pack up and try the opportunity.
After a few years at the dealership, Jeff approached his boss about becoming a manager. With the highest gross and second highest sales numbers as his qualifications, he got the job and helped manage the dealership into the title of fourth
“I found out it was going to take all the money I made to buy a tiny store in the middle of a cornfield,” Jeff joked.
The Rhoadses came to Florida and fell in love with their new home Continued on page 18. www.fiada.com
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Quality Dealer continued from Page 16.
town of Dunedin. Jeff soon decided to try his luck with an independent dealership since the franchise store wasn’t working out. He opened Florida Auto Exchange in 1988. “The first thing I did was join the Chamber of Commerce, join the FIADA and open a PO Box,” Jeff said. The original dealership’s location bordered Clearwater to the South and an unincorporated area of Pinellas County to the East. Both were areas with a huge population who needed affordable, reliable transportation. “It was just a muddy dirt lot. Nothing special,” Jeff remembered. He sold mostly inexpensive cars in a BuyHere, Pay-Here setting with that first lot focusing on customer satisfaction. “The secret to my success is being in a good location, and taking good care of customers,” Jeff said.
Jeff got involved with the Chamber of Commerce serving in a variety of offices including Chairman. He was part of the Chamber’s leadership that helped grow Dunedin into the small, big-town it is today. Through the Chamber, Jeff said he was able to get his dealership’s name in the community and develop relationships with people to grow his reputation. One of his favorites was landing the naming rights to the stadium where the Blue Jays had their spring training and minor league games. Officially known as “Florida Auto Exchange Stadium” the partnership was good for business and the community, even though on game days his receptionist received more than a few calls from people looking to buy tickets. In the mid 1990s Florida Auto Exchange was doing a great business and moved to its current home at 2201 Main Street. With a wellrespected dealership and service
Top: The main office at Florida Auto Exchange is undergoing a renovation. Left: The original view of the main office, preconstruction. 18 — Independent Dealer — August 2018
center, they expanded a few years later to own and operate a car rental agency and later in 2004, bought another two acres that included a fast lube center. All the while, they continued to take great care of their customers and offer that important Buy-Here, Pay-Here option. “We still sell about 60 percent of our cars as Buy-Here, Pay Here. We also give really good service. It’s about the people for us. The cars are just the instrument. I wouldn’t be here if it weren’t for the people,” Jeff said. Florida Auto Exchange has a good reputation and is helping people and families into the second and third generations of customers. With several long-term employees and techs on the team, as well as Jeff ’s own kids Jeffrey, Jr. and Jenay, it is one big family. Jeff ’s youngest daughter, Jerri-Lynn also helps out as an accounting liaison when needed. All three kids practically grew up around the dealership, and Jeff is thankful he was able to spend so much time with them when they were young. Jeff is also proud that the Florida Auto Exchange names ranks high in recognition side-by-side dealerships like Lokey’s and Dimmitt’s who have been in the area for nearly 90 years. He attributes it to the dealership’s pristine reputation but also maybe a little to his alter-ego, “Dr. Credit.” Jeff has played the character in TV commercials and online ads for over 25 years. Dr. Credit is so popular he had to have it Trademarked and has to stay vigilant about protecting it. Being a member of the FIADA was one of the first things Jeff did when starting his dealership and he says membership not only pays for itself Continued on page 20. www.fiada.com
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Quality Dealer continued from Page 18.
in discounts and coupons but adds professionalism “Your FIADA membership gives you credibility, and you really can’t put a monetary price on that,” Jeff said. Jeff says he wishes he had gotten more involved with FIADA’s leadership over the years, but is thrilled that his daughter, Jenay, has served on the Executive Committee as Secretary and will continue to serve through 2019. In all the years Florida Auto Exchange has been a FIADA member, Jeff says he has always contributed to the PAC Fund as well. “The FIADA fights every day for our industry and they do a wonderful job. The FIADA raises the bar, and whether you get involved or not, you
need that sticker on your door. Take advantage of what the FIADA has to offer,” Jeff said. “The benefits are far-reaching. If you’re going to be in this industry, you really need to be a member of the FIADA.” Jeff was surprised and honored when he received the FIADA Quality Dealer of the Year award. He explained in many organizations he has been a part of, prestigious awards like Quality Dealer are given to the members who are very involved and have a lot of “pull.” He was amazed that the Association would recognize his dealership and feels that the award means even more because of that. “I was amazed, honored and humbled,” Jeff said. “It really means the world to us that we got it. It was
just the biggest surprise. I promise that we will do the best we can do to keep the faith of the people and the members who awarded it to us.” Though he says he still isn’t sure what he did to receive the award, he is proud of the way his dealership has grown and matured over the years. In addition to those tenants of customer service and responsibility, he says that hard work is something that he is most proud of and goes a long way in this business. “I go to work everyday. That’s a trait that may be going by the wayside,” Jeff said. “I’ve always been proud of my profession and have never had a problem telling people what I do for a living.”
2017-2018 FIADA EXECUTIVE COMMITTEE:
SCOTT LANIER, CMD
BRAD JOEL
LISA COMPAGNO
JENAY RHOADS
President Credit Cars Orlando, FL 32808 (407) 295-6211
Senior Vice President Splish Splash Auto Sales Princeton, FL 33032 (305) 258-1191
Chairman of the Board Palm Tree Auto Sales Stuart, FL (772) 288-2099
Secretary Florida Auto Exchange Co., Inc Dunedin, FL (727)-796-2886
FRANK FUZY
GEORGE HICKEY
STEVE MARBAIS, CMD
Regional Vice President Noegel’s Auto Sales Starke, FL (904) 964-6461
Regional Vice President Century Motors of S. Fla., Inc. Pompano Beach, FL 33064 (954) 785-0369
Regional Vice President Bond Auto Sales, Inc. Tampa, FL 33604 (813) 238-7478
20 — Independent Dealer — August 2018
Regional Vice President Marbais Enterprises, Inc. Ocoee, FL (407) 877-7422
BRANDI NOEGEL
PHIL RISLEY
Treasurer Cars & Credit of Jacksonville Jacksonville, FL (904) 616-4074
JIM WINTERICK, SR.
Chairman of the Board Gulfstream Motor Credit Miami, FL (305) 253-2335
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D E A L E R O P E R AT I O N S
Consistent Business vs. Swinging For The Fence BY KENNY ATCHESON
Go big or go home. Does that adage work for marketing? Not necessarily. Sometimes slow and steady is still what wins the race.
A
record 10 home runs were hit in the Major League Baseball All Star game in July. Immediately afterward, I sent an email newsletter to our Dealer Profit Pros subscribers. My research later was revealing. Here is part of the newsletter:
•
The 10 home runs hit in the Major League Baseball All Star game may work well for entertainment, but it does not work well for growing your business in this decade. There was a time when business owners used home run marketing. They could throw a wad of money at one type of advertising and count the sales.
So it seems that in baseball, home runs aren’t all that they are cracked up to be. The “all or nothing approach” doesn’t work, according to the evidence. Why do so many team owners and coaches and players focus on hitting home runs? Because home runs are sexy. Giancarlo Stanton demonstrated that last year.
Yet stringing together singles and doubles (marketing) is more secure, stable, and nets a more predictable ROI.
I get it. As a baseball player who focused on great defense, showing off my arm, and hitting for average, I dreamt of hitting home runs. I dreamt of the “walk off ” home run where the crowd cheered as I rounded the bases with a slow home run trot of 35 seconds so I could relish the moment.
If you would like a steady flow of customers, there is one thing that can do that for you...referrals and repeat business. Yes, I know that's two things—but the same behaviors lead to both. If you do what it takes to earn a lot of repeat business, then you probably already earn steady referrals. If not, you can do small but important tweaks to make that happen. After sending that email newsletter, my deeper research revealed this: •
At the 2018 All Star break, eight of the top 15 team home run total leaders would NOT make the playoffs if the playoffs had begun at the break (Angels, A’s, Blue Jays, Rockies, Cardinals, Nationals, Orioles, Rangers).
•
Since 1981—37 years—the Major League individual home run leader has been on the World Series winning team once. Since 1984, only the 2009 Yankees led the league in home runs and won the World Series that same year.
When gym work and a tweak to my swing led to hitting home runs, that’s all that I wanted to do. After all, “Chicks dig the long ball” as Greg Maddux and Tom Glavine said in the 1990s Nike commercial. I even wore a Nike t-shirt with that quote, under my jersey to remind myself. Home runs are sexy. Just like a new mountain of website and/or lot traffic is sexy. The thought of a new massive advertising campaign that is an instant home run is sexy. However, a steady flow of repeat and referral customers is sustainable, repeatable, and much more profitable.
Kenny Atcheson is the founder of Dealer Profit Pros and author of Marketing Battleground: How to Deploy Under-the-Radar Strategies to Explode Your Profits. Kenny offers private consulting and he teaches workshops and speaks at conventions and 20 Groups. His company offers several marketing and advertising programs which include Private Consulting, a Referral Results Training Program, a Newsletter Program, a Feedback & Review & Complaint Management System, Google Pay-Per-Click Management, Facebook Pay-Per-Click Management, Direct Mail Campaigns, Copywriting, and more. His website can be found at www.DealerProfitPros.com
22 — Independent Dealer — August 2018
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August 2018 — Independent Dealer — 23
M A R K E T I N G S T R AT E G Y
Welcome to the Attribution Revolution BY COX AUTOMOTIVE
Take the guesswork out of your digital ad strategy and optimize your marketing spend
T
he good old days were so much simpler. Car buyers would hit the weekend newspaper classified ads and head out to dealerships; advertising and marketing was a matter of updating the circular, publishing the ads, putting out new hangers and ordering door clings. Things are a little more complicated today. But it’s not a bad thing. Digital channels have empowered consumers during the car shopping process, and in doing so they have also brought greater reach and vastly more power to dealership marketing. Today, car buyers and dealers are closer than ever throughout the journey. The problem is that understanding what works (and what doesn’t) is tantamount to discovering the lost city of Atlantis. The ability to simply measure performance, and use those findings to increase business, has become weighed down by excess data with its own over-the-top complexity, which can be frustrating. Dealerships spend ever-increasing amounts on digital marketing, with ever-increasing doubts that it does any good. The disconnect is deafening: Retail managers just want to know what’s driving sales, while most standard website reporting tools offer last-click metrics that provide only a partial and inaccurate
view. Indeed, there are at least three areas of confusion when it comes to measuring effectiveness:
THE QUALITY GAP
As the retail industry downshifts from a long period of growth, a new dynamic is taking shape, one that impacts the effectiveness of traditional metrics and KPIs. Known as “The Quality Gap,” dealer website traffic, on-site shopping activities and VDP views are continuing to go up – showing interest – while actual sales don’t seem to correlate. Does that mean dealer website traffic is less valuable?
No. But it does mean there is a gap between the shopping activities that are happening online and actual buying behavior. It also means that the quality of the content shoppers are seeing and how relevant it is to them has become increasingly important in order to influence a car shopper to buy your car from your dealership. For maximum marketing effectiveness, dealers need to know which of these online activities are true indicators of shoppers who are closer to buying a vehicle.
REFERRALS FROM NOWHERE LAND
That’s not the only flawed picture: a typical dealer website traffic report may only show 2–5% direct referral traffic from a third-party site.1 At first glance, that seems terrible. But a deeper look reveals the flaw in one-dimensional metrics such as direct referral traffic: it only shows one small slice of the overall picture. Left out are important considerations such as previous shopping activity on other automotive sites. In this case, it sends dealership managers searching for solutions in the wrong places. Case in point: 25% of all monthly visitors to a dealer’s website visited Autotrader.com or KBB.com first, and 36% of all monthly visitors to a dealer’s site overlapped with site visits to Autotrader.com or KBB. com during the current month or the previous two months.1 The point is that shoppers almost never follow a linear path to purchase, even within proven behavioral patterns such as visiting third-party sites to research and shop. In other words, they get to the transaction – but it’s a far more circuitous journey. Continued on page 26.
1. Digital Audience Analysis: Understanding Online Car Shopping Behavior & Sources of Traffic to Dealer Websites; Autotrader, October 2015
24 — Independent Dealer — August 2018
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Stockwave shows you inventory from across the country, ranked by profit potential based on your unique needs as an independent dealer. That’s why the dealers who use it earn up to 40% more gross profit on cars they buy at auction. They don’t search. They don’t stress. They just say, “Stockwave, show me the money!”
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See how it works at stockwave.com/showme | 888-365-1032
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August 2018 — Independent Dealer — 25
Attribution continued from Page 24.
LAST-CLICK METRICS
When a consumer takes a step toward their next car purchase on your website or shows up at your dealership to complete the sale, you’ve probably set up conversion tracking to help determine which online marketing tactic initiated that buying behavior. This data helps you know how to best allocate your marketing dollars to generate the most conversions. But these “lastclick” metrics increasingly paint an inaccurate picture of your digital marketing performance.
party and dealer websites, and doing additional searches before finally visiting the dealer websites and/or brick-and-mortar dealership before finally converting. This car buyer journey to conversion can be compared to a soccer game where the ball is usually passed between several players before one of them scores a goal. If you’re coaching a soccer team, you are interested not only in the performance of the player who finally scored the goal – you would want to see how all the players worked together to score the point. Understanding the entire team dynamic is the best way to develop a strategy that will help your team score again and again.
Unfortunately, the last search, ad, or referral link clicked on directly before the conversion often gets all the credit when the big picture is actually far more complex. A car It’s the same in online marketing. The buyer may start out clicking on an websites and advertising that assist ad before doing searches on various FIADA_XLFunding-3rdpage.pdf 1 7/6/18 in5:54 thePMvehicle sale are often more vehicles, visiting various OEM, third-
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important than the final link clicked before conversion. It’s easy to see how traditional digital metrics and KPIs, while useful, are limited in telling you what happened. Attribution, on the other hand, helps you see the bigger picture and plan for what’s next.
MULTI-TOUCH ATTRIBUTION CONNECTS SHOPPING AND BUYING ACTIVITIES ACROSS THE ENTIRE PICTURE
With all this in mind, how are dealers supposed to optimize their digital marketing? In a bottom line business, the bottom line of digital marketing is that it can be hard to accurately show how a dealership’s digital spend results in actual car sales – the only metric that really matters. But imagine being able to capture the ways that car buyers interact with all your online marketing channels before conversion, so that you can determine the best total mix of tactics to influence them. And now imagine being able to connect online activity to in-store sales so that, in addition to understanding where your marketing dollars are best applied across your audience, you gain deeper insight into buyer demographics and preferences and how to better target like-minded consumers. That reflects the difference between metrics (what a consumer did) and multi-touch attribution (being able to accurately predict what a consumer is likely to do and then connect it to sales). Indeed, the point of multitouch attribution, which is based on a data-rich collective portrait, is to expand and fine-tune the ability to connect online shopper activity to car sales. Because of Cox Automotive’s
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26 — Independent Dealer — August 2018
Continued on page 28. www.fiada.com
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August 2018 — Independent Dealer — 27
Attribution continued from Page 26.
comprehensive view across the automotive ecosystem and beyond, billions of anonymous buying “signals” are collected and connected (compliant with Personally Identifiable Information(PII) industry practices). Algorithms are then used to create models that answer core questions about shopper intent: what they will buy, how they will buy, their purchasing power and their personal interests. Armed with this knowledge, dealers can target specific audiences with unforeseen precision. Instead of a “spray and pray” approach, a connected digital marketing campaign can target only the relative handful of consumers
within a geographic location who are genuinely ready to buy a specific vehicle type within a certain time frame. The increase in ROI and speed of closing sales can be significant.
strategies, with a direct and measurable impact far beyond the number of sales transactions attributed to a dealership’s CRM by traditional digital marketing metrics.
THE POWER OF CONNECTING TO CAR BUYERS
It also brings us closer than ever to our customers, their lifestyles and preferences. It’s a powerful and exciting way to reach out and engage with people – and create long-term relationships. According to Dealer. com, more than half of car buyers return to the dealership website within 90 days of their purchase date. That’s something to think about when assessing the lifetime value of a customer and why connecting with them along their journey matters.
Relevance sells. Anyone who has browsed the “recommended for you” section of Amazon knows that curated shopping experiences provide convenience and enable shoppers to find relevant merchandise faster, which is key to building brand loyalty. Multichannel attribution, combined with analyses of online activity, can bring new levels of customization and automation to dealer marketing
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Cox Automotive offers dealers connected digital marketing solutions that use information from every aspect of the car buyer’s journey to create an accurate and actionable picture of your customers and deliver data-based budget and digital advertising recommendations for an effective digital marketing strategy. Learn more about how Cox Automotive can help you influence shoppers at every stage of the online shopping process at www.coxautoinc.com/solutions/nvision/.
28 — Independent Dealer — August 2018
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Insurance and bonding specialists for the auto industry for over 30 years
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August 2018 — Independent Dealer — 29
Protect. Promote. Preserve. Florida Independent Automobile Dealers Association
SINCE 1940
Why Join FIADA? REPRESENTATION A lobbyist and legislative committee that fights for you and the industry’s interests.
EDUCATION FREE continuing education and free unlimited technical assistance calls with FIADA legal counsel.
DEDICATION Access 100+ vendors who specialize in auto industry needs and over 800 dealers statewide who handle issues like yours.
SAVINGS Over $2,000 in FIADA member discounts and coupons that are available instantly with an easy to use mobile app.
DISCOUNTS Exclusive savings on advertising opportunities, DMS, financing, floorplanning, GPS and other dealer services. Licensed dealers receive complimentary membership and additional benefits with NIADA.
DUES: $325 Annually
rship is Membe portunity en Op A Gold
Sponsor:_____________________________________
Company Name:________________________________________________________ q New Mbr q Associate Mbr Address:______________________________________ City:____________________ State:______ Zip:_________ Phone:_____________________________ Fax:_____________________________ Email:_______________________ By signing I agree to the FIADA
code of ethics and FCC Consent. Principal Contact:________________________________ Signature:_______________________________________
Payment Method: q Check (made payable to FIADA)
q Visa
q Mastercard
q American Express
q Discover
Card Number:________________________________________ Expiration Date:__________________ CVV:_________ I authorize FIADA to charge my credit card listed above. Name on Card:___________________________________________________________________________________
Dealer Type: q Retail
q BHPH
q Wholesale
Years in business?__________ License# ____________________
SUPPORT THE FIADA PAC Your PAC Contribution helps spread the awareness and gain support of issues affecting independent dealers in the state's capitol.
q
$500
q
$250
q
$100
q
$50
q
$25
q
_________
FCC Communications Consent: I understand that by providing my mailing address, email address, telephone number and fax number, I consent to receive valuable and timely communications via mail, parcel, email, telephone, text and/or fax from or on behalf of the Florida Independent Automobile Dealers Association (FIADA). This consent shall remain in effect until FIADA receives written revocation signed by an authorized representative. 800.237.0448 | Fax: 850-385-3251 | Email: info@fiada.com | www.FIADA.com | Florida Independent Automobile Dealers Association, 1840 Fiddler Court, Tallahassee, FL 32308
30 — Independent Dealer — June 2018
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INDUSTRY NEWS Recall Alert •
•
Nissan North America Inc. is recalling 233 2007-08 Nissan Versa sedan and Versa hatchback vehicles. The passenger air bag inflators may explode due to propellant degradation due to exposure to humidity and temperature cycling. Nissan will notify owners, and dealers will replace the passenger frontal air bag inflator, free of charge. The recall began July 25. Chrysler (FCA US LLC) is recalling 1,149,237 201517 Ram 1500, 2500, and 3500 pickup trucks equipped with a power locking tailgate and either a 5-foot 7-inch or 6-foot 4-inch bed. The tailgate actuator limiter tab may fracture and cause the tailgate to unlatch and open while driving. Chrysler will notify owners, and dealers will repair the vehicle, free of charge. The recall is expected to begin Sept. 14.
• Volkswagen Group of America Inc. is recalling 33,168 2015-18 Volkswagen Golf and Golf Sportwagen vehicles. The build of silicate on the shift lever micro switch contacts may enable the key to be removed from the ignition while the vehicle shift lever is not in "Park." As such, these vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard (FMVSS) number 114, "Theft Protection and Rollaway Prevention." Volkswagen will notify owners, and dealers will install an additional switch and circuit board, free of charge. The recall is expected to begin Sept. 8. • General Motors LLC is recalling 22,043 201618 Cadillac CT6 vehicles. The inboard child seat anchorage bars may have had excess structural adhesive applied during assembly, which can interfere with the installation of a child seat. As such, these vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard (FMVSS) number 225, "Child Restraint Anchorage Systems." GM will notify owners, and dealers will inspect, remove any excess adhesive, and apply anti-corrosion primer to the inboard child seat anchorage bars, free of charge. The manufacturer has not yet provided a notification schedule. www.fiada.com
News and headlines of interest to the Florida Used Car Industry and beyond
The Tina Smith Family Benefit Fund A fund has been setup to help the family of Tina Smith, who worked in dealer sales and marketing at the Manheim Central Florida Auto Auction. Donations can be made at https://www.gofundme.com/ tina-smith-family-benefit-fund ?teamInvite=AECT0ZfLmASf FdV1VUatcfcdNC02dUcuwoG O9zNUgDxWcx6eBLa1nS5o1 NiJSG9K.
Proactive Dealer Solutions Launches Video Series A new online video education series for automotive retailers — PDS On the Rocks — has attracted the attention of thousands of car dealers, managers, and employees across the country all hungry for valuable information on how to improve business processes, sales, and create a culture of business development. The videos are available on PDS’ YouTube Channel https:// www.youtube.com/channel/UCV-REtiNChLXOtHI7Olclbw. Hundreds of dealers have subscribed to the channel, and PDS has marketed the videos on Facebook and LinkedIn.
Louisiana Sales Tax Update The Florida Department of Revenue recently published a TIP (Tax Information Publication) of interest to independent dealers. Effective July 1, 2018, the sales tax rate in Louisiana decreased from 5% to 4.45%. You can view TIP 18A01-01R2 and other important tax information in the Florida Revenue Law Library online at https://revenuelaw.floridarevenue.com/Pages/Home.aspx August 2018 — Independent Dealer — 31
MANHEIM FLORIDA ALWAYS NEARBY.
Manheim Daytona Beach 1305 Indian Lake Road Daytona Beach, FL 32124 386.255.2500 Sale: Wed 3 PM Total Resource Auction every Wed 2:30 PM Manheim Fort Lauderdale 5353 S State Road 7 Davie, FL 33314 954.791.3520 Sale: Fri 9 AM Total Resource Auction Tue 9 AM Ford Open Sale every other Fri Manheim Fort Myers 2100 Rockfill Rd Fort Myers, FL 33916 239.476.9800 Sale: Wed 4 PM Total Resource Auction every other Wed 3 PM Specialty Sale last Wed monthly 2 PM Galloway Direct Off Site Sale 2nd & 4th Tues 12 PM Manheim Jacksonville 10817 New Kings Rd Jacksonville, FL 32219 904.768.9981 Sale: Thurs 1 PM Total Resource Auction every Thurs 12:40 PM Manheim Lakeland 8025 N State Road 33 Lakeland, FL 33809 863.984.1551 Sale: Wed 2 PM Specialty RV/Boat Sale 1st Wed monthly 9 AM
32 — Independent Dealer — August 2018
Manheim Orlando 11801 W Colonial Dr Ocoee, FL 34761 Sale: Tues 9 AM Highline Exotic Sale Kicks off every 4th Tues 11 AM with Mercedes & BMW Chrysler Closed Factory Sale bi-weekly on Mon 12:30 PM GM Closed Sales bi-weekly on Mon 1 PM Nissan Infiniti Closed Sale 1st Wed monthly 9 AM Manheim Palm Beach 600 Sansbury Way West Palm Beach, FL 33411 561.790.1200 Sale: Thursday 9 AM Exotic Highline Sale every 4th Wed 9:30 AM Manheim St Pete 14950 Roosevelt Blvd Clearwater, FL 33762 727.531.7717 Sale: Thurs Weekly 2:30 PM inops Regular Sale 3 PM Manheim Tampa 401 S 50th St Tampa, FL 33619 813.247.1666 Sale: Thursday 9 AM Total Resource Auction Mon 9:30 AM at Cone Road location Ford Factory Sale every other Wed 10 AM Manheim Caribbean 1050 Carretera 865 KM 4.7 Bo. Candelaria Toa Baja, PR 00949 787.261.7300 Sale: Thurs 12 PM
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Manheim Central Florida 9800 Bachman Rd Orlando, FL 32824 407.438.1000 Sale: Wed 9 AM Total Resource Auction Wed 8:30 AM “Manheim Imperial Nights” Sale Tues 4 PM Specialty Heavy Truck & Equipment Sale Second Thurs Monthly at 10 AM
Salvage Sale Thurs 11 AM
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