SINCE 1940
DECEMBER 2014
www.FIADA.com
A Publication of the Florida Independent Automobile Dealers Association
Information and Insight for Florida Used Car Dealers
Take advantage of FIADA’s gift of Education this season. As always, a free benefit of your membership. SEE PAGE 16.
FULTON, MO PERMIT NO. 38
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FIADA 75
14
In the Spotlight
18
Tax Refund Success
Remembering the history of the FIADA. Celebrating the FIADA Auction Person of the Year Curt Farris. Key tips on how to make the most of tax season.
December 2014 — 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 Jim Winterick, Sr. President Paul Matton Senior Vice President Dino Mercurio Chairman of the Board Brad Joel Secretary Lisa Compagno Treasurer Scott Lanier Regional Vice President Christopher Leedom Regional Vice President Steve Marbais, CMD Regional Vice President Phil Risley Regional Vice President Govinda Romero Regional Vice President FIADA STAFF Lisette Mariner Executive Director Terry Myers Educational Instructor Amelia Tillman Member Services Christy Taylor Editorial/Advertising
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FIADA • 1840 Fiddler Court Tallahassee, FL 32308 (850) 385-2712 • Toll Free: (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 December 2014
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 Jim Winterick, Sr.
6
Executive Director’s Message Lisette Mariner
8
From the Town Hall Meeting
10
Member News
12
The History of FIADA Let the 75th Anniversary begin! FIADA kicks off a feature celebrating the history of the Association.
14
In the Spotlight A close-up of Auction Person of the Year Curt Farris.
16
The Gift of Education Are you taking advantage of your member benefits providing continuing education and training opportunities?
18
BHPH Keys to Tax Refund Season Success It’s that time of year, when you should be promoting and recruiting customers to use their tax refunds to buy from you.
20
Legislative Update FIADA Lobbyist Sandra Mortham
22
At the Capitol FIADA delegates attend the NIADA Legislative Summit
24
A Look at Current Legal Issues The monthly round-up of federal and legal issues affecting auto dealers.
28
Another FIADA Town Hall Meeting is Coming Soon Plan to attend the next free educational session in January.
30
Industry News
December 2014 — Independent Dealer — 3
FROM THE PRESIDENT
Tis the Season BY JIM WINTERICK, SR., FIADA PRESIDENT
T
he holidays are upon us. This time of year is always great for family get-togethers. My best wishes to all of you for this holiday season.
Anymore I am conscience of whether to say Merry Christmas, Happy Hanukkah, Enjoy Kwanzaa, and of course Seinfeld’s fictitious “Festivus” (if you celebrate Festivus my apologies for any perceived slight). December notable dates, outside of loved ones birthdays we all can relate to are: December 7, Pearl Harbor Day and of course December 31, New Year’s Eve. December is also an excellent time to analyze the last year for forecasting and budgeting for improvement. Where were we off? Where can we improve? What lessons have we learned that can be applied to our 2015 budgeting and forecasting effort? We work on forecasting goals for the upcoming year and analyze the challenges we believe will be encountered in accomplishing them. We all want to sell more vehicles, but there are considerations in doing so. We set our goals in the beginning of the year by each month. We then look at what our assets are that will help to attain them. Then what the obstacles are that stand in the way of accomplishing them. What strategy we can develop to overcome the problem. What specific tactic and who will be charged with executing that action. We then have a plan for our business operations for the New Year by month that we constantly look at for tweaking. I have heard it said if you don’t know where you are going, then how do you know when you’ve gotten there? I like to think of it as more like keeping on course. Staying in the channel between the buoys where there is limited surprise. My personal experience is that in business surprises always cost me money, hence I don’t like them.
4 — Independent Dealer — December 2014
On the subject of business I would like to give a special mention to the FIADA Auction Person of the Year Curt Farris, general manager of Adesa Tampa. As of Nov. 17, they committed to a special independent’s only lane on a first come first served basis. The earlier you members consign the better the number. They are also reducing and waiving some of their fees for FIADA members. Thank you Curt. You can read more about Curt, and the new sale on page 14. People of action, that is what it is about. Many say they value the Independent Dealer but only a few show by action what they mean. We all should support businesses that through their actions support the Independent Dealer. In January the FIADA will be coming to Fort Myers. We will be having a Town Hall and Board of Directors meeting. As always, there is no charge to attend these meetings. Set Jan. 16-17, 2015 aside. Come get updated on what your Association is doing to support the Independent Dealer. Bring another dealer with you. I promise you will learn something new. Or be reminded of something you have forgotten that you will be amazed you aren’t doing anymore. It is also a great time to network with others in the same business. And vendors who want to help in our continued success as entrepreneurs for their own business success. Yes the FIADA is all about successful, profitable, well-run, well-educated Used Car Dealers of Florida. Join us--you will enjoy the ride. Happy Holidays! And let’s be profitable out there! Jim Winterick, Sr. FIADA President www.fiada.com
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Contact Protective’s Florida representative, Chris Behrens at 866 452 7335 A “National Corporate Partner” has met stringent NIADA criteria demonstrating that it can provide valuable products and services to NIADA members. No legal partnership has been created by the granting of this status, but NIADA does receive compensation from Protective. Limited Warranty Products, Vehicle Protection Plans (VPPs) and GAP are backed by Lyndon Property Insurance Company in all states except NY. In NY, VPPs are backed by Old Republic Insurance Company, Limited Warranty Products are backed by Western General Insurance Company and GAP is not available. Credit Insurance is backed by Protective Life Insurance Company in all states except NY, where it is backed by Protective Life and Annuity Insurance Company.
www.fiada.com
December 2014 — Independent Dealer — 5
EXECUTIVE DIREC TOR’S MESSAGE
The Gift of Education BY LISET TE MARINER, EXECUTIVE DIREC TOR
A
t FIADA we strive to provide the most up to date and useful resources for dealers. We provide a number of resources, but one that is longlasting is that of education. Whether it’s through webinars, convention seminars, online or in person trainings, education is the key to success. About four years ago we began hosting Town Hall meetings to help dealers with current issues and provide an opportunity to meet our board. November was no different. Thanks to ADESA Tampa for opening their location for a day long educational session for dealers. Rob Sickles, partner with Hinshaw & Culbertson provided invaluable information about the current legal landscape. He provided examples of what the CFPB is fining dealers for and other regulatory and compliance issues. Dealers always tell me they enjoy being able to ask questions of Rob. He tells you like it is. We rounded out the day with an auction panel that went into detail about floor planning, condition reports, arbitration and other services auctions provide. Congratulations to Jasmine Melendez for winning the vacation package sponsored by Anthony Chicklowski with Capital Marketing Concepts and to William Smith for winning a one year free membership with the FIADA. Thank you to Capital Marketing and the following sponsors Auto Data Direct, ADESA, 6 — Independent Dealer — December 2014
CVR, Tax Refund Services Tax Max and Wayne Reeves for supporting FIADA. It is through the support of sponsors that we can provide this free event for dealers. Remember them when you’re considering services and products for your business! On January 16, join us at the Hyatt Place at the Forum in Ft. Myers for the first Town Hall of the year. Register to attend at www.FIADA.com. We’ll have a great presentation by Juan Borda with CRC Insurance Services regarding cyber protection, as well as, hear from Melissa Leedom with Paymaxx Pro on PCI Compliance, Convenience Fees and Surcharges, and everything in between. Of course, Rob Sickles will also provide an update on current legal issues, such as safety recalls. Please accept our gift of education and remember to register to attend the next Town Hall meeting and log into your account with the FIADA to watch one of the many courses we have available in our library. We are thankful for your membership. Be an active participant and use your benefits. If you have an idea or a need, don’t hesitate to let me know by contacting me at lisette@fiada.com. www.fiada.com
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December 2014 — Independent Dealer — 7
The FIADA Town Hall meeting in November at Adesa Tampa featured an auction panel as well as a legal review.
New Member William Smith (L) with FIADA Senior Vice President Paul Matton.
FIADA General Counsel Rob Sickles gives the legal update.
Dealer Sales and Services Manager: Calvin Frazier, announces special FIADA lane at ADESA Tampa
Vacation winner Jasmine Melendez (center). 8 — Independent Dealer — December 2014
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December 2014 — Independent Dealer — 9
MEMBERSHIP NEWS
New Members
NOVEMBER 2014
CAR SALES GROUP, CORP
MARTHA REYES
Plant City, FL Lester Gonzalez Sponsor: FIADA.com
Ocala, FL Martha Reyes Sponsor: Terry Myers
EFFEE MALLIARAS
MYHREE MOTORS LLC
Sarasota, FL Effee Malliaras Sponsor: Terry Myers
Williston, FL Drew Myhree Sponsor: Amelia Tillman
GENESIS CAPITAL FINANCE LLC
TOM BALES
Miami, FL Hugo Beltran Sponsor: Ramsy Truck Sales
Seminole, FL Tom Bales Sponsor: Terry Myers
GREG KEOWN
TYSON AUTO SALES
Apollo Beach, FL Greg Keown Sponsor: Terry Myers
Tallahassee, FL Stephan Waldoch Sponsor: Terry Myers
INCREDIBLE CAR PRICES INC.
W. SMITH AUTOMOTIVE
West Palm Beach, FL Kenneth Bailynson Sponsor: Amelia Tillman JAN HEYLEN
Clearwater, FL Jan Heylen Sponsor: FIADA.com
Sebring, FL William Smith Sponsor: FIADA ZERO 6 RIDES, INC.
Stuart, FL Stefanie Epstein Sponsor: Palm Tree Auto Sales
KOASH AUTO SALES
Orlando, FL Mario Vanegas Sponsor: Terry Myers
Rejoining Members
NOVEMBER 2014
B & M Auto Sales LLC
PASSPORT LEASING CORP.
Newberry, FL Morgan Smith Sponsor: Amelia Tillman
Ft Lauderdale, FL Michael Gaddis Sponsor: Amelia Tillman
LEE CO FUNDING, INC.
South Shore Leasing & Sales Miami, FL Jorge Betancourt Sponsor: Amelia Tillman
Fort Myers, FL Pete Soom Sponsor: Amelia Tillman MISSION AUTO SALES
Miami, FL Ferdinand Fertil Sponsor: Sarah Langley 10 — Independent Dealer — December 2014
Renewing Members
NOVEMBER 2014
40+ Year Members ABC Autos, Inc. John Rogers Used Cars Southside Autos, Inc.
Tampa, FL Orlando, FL Orlando, FL
20+ Year Members Cocoa Auto Dealers Exchange The Truck Junction
Cocoa, FL Sarasota, FL
10+ Year Members Angelo Auto Wholesale BC Motor Company, Inc. DriveTime Sales & Finance Frazer Computing, Inc. Off Lease Only Reliable Used Cars, Inc. dba Deland Reliable Cars Sheriffs Ranches Enterprises, Inc. Xpress Finance, Inc. Under 10 Year Members Alas Auto Brokers Inc. Auto Data Direct AutoMaxx Corbin Auto Sales Drake Motor Company Hermanos Auto Wholesale DBA The Car Shack HH Sales, LLC Holcombe USA, Inc. dba Autoshow Sales & Service International Auto Group Magna Auto Sales March Auto, Inc. Martins Used Cars, Inc. MITS at CMI, LLC Orlando Lawn Trucks LLC Park Avenue Motors Tallahassee Salvage, Inc.
Jacksonville, FL West Palm Beach, FL Phoenix, AZ Canton, NY Lake Worth, FL Deland, FL Live Oak, FL Orlando, FL Sunrise, FL Tallahassee, FL Sarasota, FL Chipley, FL Fort Myers, FL Hialeah, FL Jacksonville, FL Plantation, FL Pompano Beach, FL Titusville, FL Jacksonville, FL Ocala, FL Largo, FL Orlando, FL New Smyrna Beach, FL Havana, FL
The rules are easy: when a new member signs up with your name as sponsor on their application, you will receive $50.00. Go to www.FIADA. com to put your name on the roster.
www.fiada.com
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Two great directions for funding your customer’s sales.
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December 2014 — Independent Dealer — 11
The History of
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FIADA PRESIDENTS: 1950 O.B. Wade, Miami 1951 W.J. Rodgers, Ocala 1952 L.P. Evans, Miami 1953 Stacy Rowell, Miami 1954 Stacy Rowell, Miami 1955 Hubert Hawke, Tampa 1956 Wendell Jarrard, Pensacola 1957 Ferris Ward, Orlando 1958 Dick Bennett, Orlando
1962
1961
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t was in the early 1960s that the FIADA began to take on its role as legislative advocate for the dealers of Florida. Laws and regulations on financing tags and license fees were among the most important topics. A plea to action was mailed to members in 1960 about the recent increase in premiums for the $3,000 dealer bond. The premium doubled from $30 to $60, which led FIADA to file a petition to the State Insurance Commissioner. After several months with no answer, the FIADA Executive Secretary Arch Livingston had a meeting with Commissioner Ed Larson, which began a series of conversations between the dealers and the casualty companies. A public hearing was held in 1960 in Tallahassee, and the FIADA prepared by asking members to report any claims in their area that had been made to any casualty company on the bond. Dealers volunteered to testify at the hearing about their experiences. Senator Philip D. Beall, a Pensacola attorney, was retained by the Association to represent them at the bond hearing. FIADA’s official position was to make sure Florida had a good bond law. As they explained in one 1960 newsletter: “It is reported that anyone can buy a bond as easy as buying a sack of peanuts and the casualty companies are having a joy ride on the $60 rate.” Dealers said they either wanted a good bond or they wanted the law repealed. The hearing went well, though Livingston was hesitant to declare victory. The headline in 1960, officially called it, however, “FIADA Wins Bond Rate Adjustment.” The final outcome being that after May 6, 1960 any new or renewal surety bond required under the Florida dealer licence law would cost $45 for the $3,000 bond, a $15 reduction from the initial rate increase. History does tend to repeat itself, as another big issue of the day in 1963 was with Curbstoning. FIADA worked to strengthen the dealer license law and in 1963 the State Legislature enacted an amendment to the current law that required an applicant to certify they were dealing in motor vehicles as their principle business that would be conducted at the location
Jim
ale
Independent Dealer magazine continues its recap of the Association’s history, leading up to the 75th Anniversary this October.
1960-1970
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Fred Cu
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LET US HEAR IT!
We want to invite you to share your memories and be a part of the 75th Anniversary Celebration. Help us compile a history of not only factual information, but also the stories and spirit that have shaped the FIADA for so many years. Post your favorite memories or photos on Facebook or twitter and use #FIADA75. 12 — Independent Dealer — December 2014
www.fiada.com
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3,696,34, yet the number of independent dealers in the state was shrinking. From 1965-1966 the number of licensed dealers had fallen by just over a thousand to only 2,374. Always trying to find ways to help dealer members, “FIADA Month” kicked off in September of 1966 with three goals: help all FIADA members sell more cars, increase public awareness and sell “safety” in September. SecretaryTreasurer Tom Harland came up with the idea, which allowed FIADA members to participate in a statewide advertising co-op for $25. The fee included a kit with “FIADA Month” and “Safe Tested Autos” printed pennants, FIADA window stickers and bumper stickers with the aim of urging drivers to buy from an FIADA member. In 1966, the FIADA hired a dealer-member from Jacksonville, M.L. Vaughan, as Field Manager to recruit dealers for membership all
1966
1965
i
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1966 A new Florida Dealer License Law for both franchised and independent dealers, classified a dealer as “anyone who deals in or offers for display for sale three or more motor vehicles during any 12-month period.” License requirements included a $5,000 surety bond or net worth of at least $20,000; certification that motor vehicle sales was the principal business of the dealer’s identified location and that the location was permanent and not a home or residence.
1967 Uniform Commerical Code took effect adding Chapters 671-680 to Florida’s Statutes.
1968 Motor Vehicle Inspections are established and require vehicle certification.
1969
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The 1960s ushered in some of the most notable legislation of interest to auto dealers, much of which is still enforced today:
1968
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A HISTORY OF REGULATION
Truth-in-Lending provisions go into effect on the federal level.
1967
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around the state. In one year, Vaughn was able to increase membership by 500. The end of the 1960s saw new legislation pass both the Florida House and Senate that required automobiles to have “seat safety belts” along with enhanced motor vehicle inspection laws that required brakes, lights, steering mechanisms and other systems to be certified by a state-approved agency. Dealers were advised in a 1970 FIADA Yearbook article by FBI Director J. Edgar Hoover about a new way to fight auto theft. The computer, a ground-breaking technological advancement for the time, was helping law enforcement agencies recover stolen vehicles nationwide. The new computer system, housed at the National Crime Information Center, stored 400,000 vehicles and 140,000 license plates in its index and was billed as the “space age weapon for slowing” car theft.
ille
specified in the application. Dealer tag laws were also amended in 1963, limiting their use to demonstration or movement of motor vehicles to or from dealers’ places of business only. This changed the old law that allowed them to be used while being operated in connection with a dealer’s business. In 1965, Florida established the Department of Motor Vehicles to administer the state’s motor vehicle laws. Governor Farris Bryant appointed FIADA’s first Executive Secretary Arch Livingston as director. The name was changed in 1969 to the Division of Motor Vehicles, and became part of the Department of Highway Safety and Motor Vehicles. That same year, FIADA celebrated it’s 25th anniversary with an Annual Convention at the Statler-Hilton Hotel in Ft. Lauderdale. The number of vehicle registrations was at an all time high in 1966 at
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RELIVING HISTORY You will also want to check out the new video that features the FIADA story. The video was unveiled for the first time at the FIADA Annual Convention and captures the uniqueness of the Association as told by its members and volunteers. You can watch it on our YouTube channel or scan the QR code on this page. www.fiada.com
December 2014 — Independent Dealer — 13
Auction Person of the Year
T
Curt Farris, Adesa Tampa
he Florida Independent Automobile Dealers Association has always had a strong partnership with the auto auctions in and around the state. For years, the auctions and their leadership have graciously hosted member drives and training sessions, sponsored memberships and events and served as faithful board and committee members. Years ago, FIADA instituted a new award to recognize the efforts 14 — Independent Dealer — December 2014
and support of these essential men and women of the auto auction industry and called it the Auction Person of the Year. The tradition continued at the most recent FIADA convention when the honor was given to Curt Farris, the general manager at Adesa Tampa. Curt was the Indiana Fleets and Finance Manager for Hertz for 13 years, overseeing 30 locations and three airports based in Indianapolis.
He moved to Florida in 2007 to take the position of Fleet Lease and Captive Finance Manager at Adesa Sarasota. In May 2012, he was tapped as the new GM for Adesa Tampa. Adesa Tampa has gone through some renovations under Curt’s watch. He has made significant changes to staff, promoting a “superior customer service” mantra to combat the “doom and gloom” aura he says the auction used to have. www.fiada.com
The facilities have also undergone a refreshing facelift, highlighted by moving finance partner AFC into the building with a permanent presence. “It’s not the same auction it was two years ago,” Curt said. With over a 70 percent conversion rate from the last eight sales, Adesa Tampa is boasting some serious numbers. It is easily the biggest Monday sale in Florida and the only Monday sale Adesa has nationwide. That means it is all eyes on Tampa to see if it will be a good week or a bad one. “We set the tone for the week,” Curt said. Adesa Tampa is on its way to leading the way for Independent Dealers as well. Everybody knows how persistent FIADA Senior Vice President Paul Matton can be, so when he approached Curt a year ago about getting involved with the Association it was only a matter of time before it happened. Curt has hosted FIADA Town Hall sessions, attended Board Meetings and offered support and sponsorship of various events and programs. His dedicated involvement made him the perfect candidate for the Auction Person of the Year award.
The Adesa Tampa Dream Team (from L to R): Dealer Manager Calvin Frazier, Operation Manager Ron Howe, Curt Farris, Office Manager Laura Townsend, and Fleet Lease Manager Christina Nichols.
“We look for someone who is not just friendly to independent dealers, but a true advocate,” FIADA Executive Director Lisette Mariner said. “Curt fits that criteria perfectly.” When he received the award at the convention, Curt says he was overwhelmed. He was honored to be recognized and believes whole-heartedly that every independent dealer should be a FIADA member. “Everybody else has got someone lobbying for them; the Association is your lobbyist. You’ve got to have someone standing up for you. It is important to stick together as a group,” Curt said. www.fiada.com
Curt accepts the Auction Person of the Year Award from FIADA Past Presidnt Dino Mercurio and Executive Director Lisette Mariner.
Putting the focus on independents, Adesa Tampa recently announced a new Independents Only lane twice a month. It is one lane with first-come, first-served spots and a significantly reduced sale fee. The first sale was held November 17 and Curt says the buzz is good. He is committed to keeping the
Independents Only lane for at least two months, and then depending on interest will see if it becomes an ongoing feature. Dealers can find out more about it at their website, www.adesa.com/tampa, or by phone by calling Amanda at (813) 471-3257 or Calvin at (813) 391-9945.
December 2014 — Independent Dealer — 15
FIADA and NIADA Education Opportunities Ready for the Taking
I
t’s the season of giving, and FIADA wants to make sure you are accepting one of the best gifts your membership has to offer: training and education. FIADA has always been a leader in dealer training and continuing education opportunities and we continue to pioneer the way with new programs like live webinars and online trainings. Most of the item on the FIADA education menu are free for dealers and staff. They have been designed to make training convenient and easy for busy dealership personnel, as well as fun and friendly. The new year is the perfect time to try out one of our dealer education courses and get acquainted with new laws and regulations that will take effect on January 1. You can find out more about any of these programs, and register for them, online at www.FIADA.com
Webinars Earlier this year, FIADA introduced a brand new way to educate yourself and your staff from the convenience of your computer. The FIADA Webinar series covers a variety of topics of interest to dealers and, when participating in the Live Webinar, gives you a chance to interact with the presenter by asking questions and downloading materials. If you can’t make a webinar, no problem. Each presentation is recorded, archived and saved in an on-demand library at www.FIADA.com. Just log into your account and you will have instant access to all of the webinars currently loaded. You can also view the webinar presentations as videos on the FIADA YouTube channel. Just go to www.youtube.com/YourFiada to watch a past session. 16 — Independent Dealer — December 2014
Continuing Education
Town Hall Meetings
Did you know that you can take a continuing education course in person or online for free at www.FIADA.com? Taught by our head instructor Terry Myers, the FIADA Continuing Education course serves as a refresher for things you may have known and might have forgot as well as an update to any new rules and regulations that are in place. The course also meets the DMV requirement for all Florida Dealers to renew their Continuing Education credit every two years. The online course is free for members and only requires a valid FIADA.com login. The in-person option is $79 for members. At the end of either course, students will receive a completion certificate that can be submitted to the DMV for continuing education credits.
There is such a thing as a free lunch, and free education, and its found at the quarterly FIADA Town Hall meetings. The FIADA Town Hall meetings are among the most popular of the Association’s education offerings and allow dealers the chance to get updates, participate in panel discussions, ask questions and get to know each other in a casual, down-home setting. Thanks to our sponsors, the Town Hall meetings are free for all dealers and usually include a free lunch as well. The next Town Hall will be Jan. 16, 2015 at the Hyatt Place at the Forum in Ft. Myers. The topic will include discussion on cyber protection and payment processing updates. Check www.FIADA.com to register and to save the date for additional Town Hall meetings. www.fiada.com
NIADA has launched a new Dealer Compliance subscription service featuring 24/7 on demand access to a Compliance Training Video Library with 13 video training sessions covering federally-required and recommended regulation topics, a Dealer Report Center that stores employee compliance participation and test results, a Compliance Policy Library that includes seven federallyrequired dealership compliance policies, framed by an automobile attorney and a Document and Deal Agreement Library featuring 12 documents and deal agreements designed to help limit dealer liability. Find out more at www. niadadealercompliance.com.
Certified Master Dealer The NIADA’s Certified Master Dealer program was developed in 2001, in collaboration with Northwood University, to help dealers manage and grow their businesses. Since then, it has grown into one of the industry’s most respected training programs. Dealers who attend this training are committed to the industry, support ethical business standards and practices, and are leaders in their communities. Instruction is provided by Joe Lescota, NIADA Director of Dealer Development and former retail automotive executive with more than 25 years of frontline dealership, selling management and training experience. For a class schedule and eligibility requirements, go to www.niada.com/certified_master_ dealer.php. www.fiada.com
NIADA Scholarships The NIADA Foundation proudly sponsors four young men or women annually who have displayed outstanding abilities in education by awarding them a $3,500 scholarship to the college or university of their choice. To be eligible applicants must: • Be classified as a high school senior during the 20142015 school year and legally residing in one of the four NIADA Regions. • Have maintained an outstanding academic achievement record as reflected by an official high school transcript; and • Demonstrate an aptitude for college work as measured by SAT or ACT score. Get an application at www.niada. com/foundation_scholarship.php
NIADA.TV Did you know that the NIADA has it’s own channel dedicated to dealer training and news? You can find it online at www. niadatv.com. NIADA.TV has a variety of professionally produced programming covering a variety of topics including operations, sales, BHPH, remarketing, compliance, F&I and more. The Automotive Industry News segment is a weekly news program that highlights stories from the national Association and around the industry. Former NIADA Executive Director Mike Linn is the Executive Producer of NIADA. TV and many plans for it in the coming years. Tune in often to gain access to new programming.
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Dealer Compliance
December 2014 — Independent Dealer — 17
TA X T I M E
BHPH Keys to Tax Refund Season Success Your customers will soon be receiving their tax refunds. Guide them towards investing it in buying a vehicle from you. BY CHIP WILEY
E
verybody knows that the Special Finance customer relies heavily on their tax refund for special purchases. No, car dealers are not in the tax business, but with consumer behavior and spending revolving so much around tax refunds, the BHPH industry is by default, attached to the tax business. The keys to success at tax time are based on understanding your customer, the market, and behavior patterns from December through February. Key #1: The typical American spends their tax refund money within 24-48 hours. Most will pre-spend their tax refund before it arrives! How do you get paid before all of the refund money is spent? Print the tax refund check on-site. Find a tax refund partner that has a proven history working within the automotive and buy here pay here industries. If you don’t end up printing tax refund checks at you dealership, how do you know when your customers are getting paid? W-2 forms are issued from January 2nd through January 31st. On top of that, the IRS takes 5-21 days to pay out the tax refund money. With that said, how are you supposed to know when the customer’s refund check arrives? Are you going to call your customer every day to ask? 18 — Independent Dealer — December 2014
When you print the check onsite, you eliminate all uncertainty. Key #2: Capture the sale before W-2s arrive. Franchise dealerships start advertising in January. Prepare ahead of time and capture the sale before January. Early tax season promotions before January are the simple and easy answer. With the estimated tax refund amount, independent and BHPH dealers have the ultimate flexibility in financing and setting the customer up to succeed with their loan. Decisions can be made about special or seasonal payments, shorter loan terms, or reduced payment structures. Two important facts to remember: this is not a “zero down” campaign, and this is not a cash advance promotion. Tax time should not equate to additional risk. Also remember that as soon as October, people are looking for ways to spend that up-coming tax refund. Any early tax season promotion is relevant during and before the holiday season. Key #3: Employee attitude and company culture will make or break you at tax time. Since your customer will most likely overspend their tax refund money before it arrives, you need to hold their hand to solidify any deals and
commitments. The problem is that this creates one extra step for your staff to follow.There is too little time to capitalize. There is too much competition for this tax refund money and too much uncertainty in how the money will get spent. Vigilance and guiding your customer is paramount to maximizing your tax season success. One single poor attitude of a staff member can bring down the rest of the group. The path to profitability and survival is not always the same path as easy. Motivate your employees. Manage your company culture. Understand that tax time is 50% over at the end of January and 95% over before the end of February. Create a sense of urgency among your staff and among your customer base. Key #4: Make time to understand the opportunity and how to capitalize. Be creative! Irregular Payments. Require that the customer make an irregular “bonus” or “tax season” payment in February. All payments are $90 per week, except for February 20th, where the required payment is $400 or $800, which is paid out of the tax refund. This reduces the principle, reduces the overall loan term, reduces risk, and increases cash flow. As of now, Auto Masters is the only DMS that allows the programming of irregular payments AND incorporates them into the customer contract. However, several software companies are working to program this function for next year. Collections. Are you $300 behind in December? We (the dealer) can put that delinquency to the side for now. Go back to making your $90 per week payment, and we will get the $300 delinquency caught up out of the tax refund! Why not ask for $800 instead www.fiada.com
Repair Notes. All repair notes should be required to be paid off in February. Pay an extra $20 per week up until the refund arrives; the balance will be satisfied at tax time. “Early Tax Season is Here”: What do you normally do when a customer comes in with $800 and you need a $1,200 down payment? Before tax time, you still take the $800 and require an additional $600 from the tax refund. The weekly payments start immediately, just like any other deal. Why settle for $800? Why stretch the terms of the loan? Why send the customer away for not having $1,200? Why NOT get more than $1,200 at the end of the day? Remember your target market and who gets big tax refunds! Biological children are the tax refund jackpot. Create tax season marketing materials and promotions early and focus on where the families and kids are. Schools, laundromats, basketball leagues, bus benches, rent to own stores are all places to focus on during tax time. These are just a few ideas of how you can increase you traffic and cash flow during tax refund season. Make time to plan. Make time to execute. Make time to educate and motivate your staff. Make time to profit starting in December. If you wait for January, you are up against the franchise dealers with monster marketing budgets. Chip Wiley has been part of the Tax Max management team since 2002. Reach him at trs@taxrefundservices. www.fiada.com
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UPCOMING EVENTS January 16-17, 2015 FIADA Town Hall Meeting and Board of Directors Meeting Fort Myers, FL
July 10, 2015 FIADA Town Hall Meeting and Board of Directors Meeting Cocoa Beach, FL
May 8, 2015 FIADA Town Hall Meeting and Board of Directors Meeting Jupiter, FL
October 22-25, 2015 FIADA 75th Annual Convention & Trade Show Hilton Orlando Lake Buena Vista, FL December 2014 — Independent Dealer — 19
L E G I S L AT I V E U P D AT E
Legislative Involvement At All Levels BY SANDRA MORTHAM, FIADA LOBBYIST
M
ost of the time, our Legislative focus is on state and local issues, whether it is helping to promote our legislative agenda in Tallahasse or putting a campaign sign outside your dealership for a local candidate. This micro-political involvement is one of the greatest things about our system of government. We the people can affect great change in the communities and areas that we live in. With all eyes on state legislators and developments, it is easy to forget about the legislative agenda on a macro level and how our advocacy fits in with the federal government. That doesn’t mean it isn’t happening though! On the contrary, the National Independent Automobile Dealers Association, of which all FIADA members are members of, heads the federal legislative effort and recently invited each state affiliate to participate in the process. Your Executive Director Lisette Mariner and some notable FIADA members recently headed to the Hill to participate in the NIADA Leadership and Legislative Summit. It was a well-attended event highlighted by information from federal regulators and legislators. Senator Tim Scott was one of the keynote speakers and delivered a hilarious message as well as promise his support to the industry. The NIADA rolled-out its legislative focus for the upcoming year, which includes these pending issues: H.R. 5403, Reforming CFPB Indirect Auto Financing Guidance Act: This bipartisan bill, introduced by Congressmen Stutzman (R-IN) and Perlmutter (D-CO), has 91 cosponsors to date. In March 2013, the CFPB issued guidelines to pressure auto finance sources into changing the way they compensate dealers to a “flat fee” that dealers cannot discount for their customers. This action would eliminate a dealer’s ability to “meet or beat” a competitors’ finance rates and significantly limit the market competition 20 — Independent Dealer — December 2014
that frequently provides customers a lower interest rate than those offered by banks or credit unions. The CPFB claims it is basing this change on its belief that negotiated interest rates create a “significant risk” of unintentional “disparate impact” discrimination. Despite eleven bipartisan congressional letters to the CFPB, the CFPB has not publicly provided essential details of its methodology to substantiate its guidance. This bill would rescind the 2013 guidance and require the CFPB to follow a transparent process including public and dealer participation for future auto finance guidance before it is issued. NIADA is requesting Cosponsor/support enactment of H.R. 5403. S.2609, Marketplace and Internet Tax Fairness Act: This bill, introduced on July 15 by Senator Enzi (now with 14 cosponsors), authorizes in part each member state under the Streamlined Sales and Use Tax Agreement to require all sellers not qualifying for a small-seller exception (annual gross less than $1 million) to collect and remit sales and use taxes with respect to remote sales. It defines a “remote sale” as a sale of goods or services into a state in which the seller would not legally be required to pay, collect, or remit state or local sales and use taxes unless provided by this Act. This impacts internet sales of motor vehicles. It would place an undue burden on dealers to file paperwork and undergo audits for transactions that currently are handled on a state-by-state registration basis. This duplicative process is unnecessary as the current tax collection process on the sale of motor vehicles over the internet is not problematic. NIADA’s request is to oppose enactment of S. 2609 or exempt transactions wherein state sales and use taxes are duly and appropriately collected. The other exciting news coming out of the summit was the announcement that our Region was the winner of the innaugural NIADA-PAC Founder’s Cup challenge. Great work, guys. Let’s keep it up and support our state PAC fund! Flip over to page 23 to make your FIADA-PAC Contribution before the end of the year. www.fiada.com
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December 2014 — Independent Dealer — 21
Senator Tim Scott was the entertaining and informative keynote speaker. Frank Fuzy and NIADA President Arlan Kuehn, CMD
Florida’s representatives on the steps of Capitol Hill in Washington, D.C. From L to R: Lisette Mariner, Gina Fuzy, Frank Fuzy and Mike Samaan. Celebrating the NIADA-PAC Founder’s Cup.
NIADA Senior VP Frank Fuzy with NIADA Executive Director Steve Jordan.
Presenting the NIADA-PAC Founder’s Cup to our Region.
22 — Independent Dealer — December 2014
One last group selfie to commemorate the trip.
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December 2014 — Independent Dealer — 23
LEGAL ROUND-UP
A Look At Current Legal Issues BY THOMAS B. HUDSON AND NICOLE FRUSH MUNRO, HUDSON COOK, LLC
A monthly collection of selected legislative and regulatory highlights, and a recap of some of the many auto sale and financing lawsuits followed each month. FEDERAL DEVELOPMENTS Has the Federal Government Saved You Money? On October 20, the Consumer Financial Protection Bureau finalized a rule, effective on October 28, that allows a financial institution, under certain circumstances, to post its annual privacy notices online instead of mailing a paper copy to each customer. The measure will save money for BHPH dealers and their related finance companies, as well as for other businesses required to send the policies annually, provided they can take advantage of it. The Gramm-Leach-Bliley Act generally requires that institutions provide their customers with initial and annual notices regarding their privacy policies. These notices must describe whether and how the institution shares consumers’ nonpublic personal information. If institutions share this information with unaffiliated third parties, the institutions must give notice to their customers of their right to opt out of sharing and tell them how to do so. The final rule would let an institution use the alternative delivery method if: (1) the institution does not share the customer’s nonpublic personal information with nonaffiliated third parties in a manner that triggers GLBA opt-out rights; (2) the institution does not include in its annual privacy notice an affiliate sharing opt-out notice under section 603(d)(2)(A)(iii) of the Fair Credit Reporting Act; (3) the institution’s annual privacy notice is not the only notice provided to satisfy the requirements of section 624 of the FCRA and Regulation V’s Affiliate 24 — Independent Dealer — December 2014
Marketing Rule; (4) the information included in the privacy notice has not changed since the customer received the previous notice; and (5) the institution uses the model disclosure form from the GLBA’s implementing Regulation P. If an institution uses the alternative method, it would have to tell customers that the annual privacy notice has not changed and is available online and in paper upon request by the customer. This could be done on another notice or on a disclosure the institution issues under any other provision of law, such as a monthly billing statement. LITIGATION Dealer’s In-House Financing Company that Attempted to Collect Past-Due Down Payment on Vehicle Not “Debt Collector” under FDCPA’s Affiliate Exemption: A consumer bought a car from a dealer and financed the purchase with the dealer. The parties disputed whether the buyer actually made the required down payment. On behalf of the dealer’s in-house finance company, a law firm sent a letter to the buyer regarding an alleged $2,000 past due down payment. About a month later, the chief manager of the in-house financing company and president of the dealership sent another letter to try to collect the down payment. The buyer sued the dealer, its in-house financing company, and the law firm for violating the Fair Debt Collection Practices Act and Minnesota law. Both parties moved for summary judgment. The federal trial court dismissed the FDCPA claims against the law firm. With respect to the FDCPA claims against the in-house finance company, the finance company argued that it
was acting as a creditor and not a debt collector. The court found that even if the in-house finance company was a “debt collector” under the Act acting on the dealer’s behalf, it would be exempt from the FDCPA under Section 1692a(6)(B)’s “affiliate exemption” because it was affiliated with the dealer. See Golden v. Prosser, 2014 U.S. Dist. LEXIS 128423 (D. Minn. September 15, 2014). Dealership’s Practice of Backdating Renegotiated Credit Agreements May Violate California’s Automobile Sales Finance Act: A dealership sold the credit sale agreements it originated in connection with vehicle sales to commercial creditors. Occasionally, the dealer was unable to sell an agreement and renegotiated the transaction with the consumer in order to create a salable agreement. The dealership dated the renegotiated agreements with the same date as the original contract. Consumers who agreed to enter into renegotiated agreements signed not only a new agreement but also an “Acknowledgement of Rescinded Contract,” which also was backdated to the date of the original contract. Each acknowledgement stated that the original contract had been canceled and neither party owed any obligations under it. Several consumers filed a class action against the dealership alleging, among other things, that its backdating practice violated California’s Automobile Sales Finance Act. Specifically, the consumers claimed that the dealership provided inaccurate disclosures under the Act, and, therefore, the renegotiated agreements were unenforceable. The trial court found for the dealership, Continued on Page 27 www.fiada.com
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26 — Independent Dealer — December 2014
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LEGAL ROUND-UP continued from Page 24
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recovery of actual damages only for specific violations not relevant to the consumers’ claims. See Raceway Ford Cases, 2014 Cal. App. LEXIS 842 (Cal. App. September 16, 2014). Tom (thudson@hudco.com) and Nikki (nmunro@hudco.com) are partners in the law firm of Hudson Cook, LLC. (410) 8655411 or www.counselorlibrary.com.
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was an inaccurately disclosed APR. But the appellate court rejected the plaintiffs’ claim that an inaccurately calculated APR would render the agreements unenforceable. The appellate court stated that it is not apparent that the Act provides any remedy for an inaccurately disclosed APR because the Act does not provide for statutory damages and provides for
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but the Court of Appeal of California reversed the trial court’s decision in part. The appellate court explained that the Act required the dealership to make specific disclosures regarding the credit sale, including all disclosures required under the Truth in Lending Act’s Regulation Z. The appellate court further explained that Regulation Z requires the disclosure of the annual percentage rate, which must be calculated using the consummation date as the beginning of the transaction term. Regulation Z provides that a transaction is consummated when the consumer becomes contractually obligated on the transaction under state law. The appellate court observed that the APR would be different if the dealership used the original contract date rather than the later renegotiated agreement date to calculate it. The trial court determined that a vehicle sale under California’s Vehicle Code is deemed completed and consummated when the buyer of the vehicle has paid the purchase price or has signed a purchase contract or security agreement and has taken physical possession or delivery of the vehicle. The appellate court found that the trial court erred by using the vehicle sale date as the Regulation Z consummation date rather than the date the consumer becomes contractually obligated on the credit transaction. The appellate court noted that other courts have found that, where a consumer enters into a second credit contract with a dealer relating to a vehicle sale, the consummation date of the credit transaction associated with the second contract is generally the date of the second contract. Notwithstanding the trial court’s error, the appellate court found that the plaintiffs were not necessarily entitled to judgment because the annual percentage rate may not need to be redisclosed in certain refinancings and for certain renegotiated agreements. The disclosed rate may fall within Regulation Z’s tolerances and would be deemed accurate. The appellate court concluded that the only potential violation under the Act
To visit us usat at To order, visit www.counselorlibrary.com/offer/spot www.counselorlibrary.com/offer/spot or call call us at 877-464-8326. or 877-464-8326. Also follow us Also us on: on: December 2014 — Independent Dealer — 27
Don’t miss this opportunity to network with your peers and learn about the latest issues impacting independent dealers. The meeting will be held at the Hyatt Place Fort Myers at the Forum from 10am – 2pm. The town hall meeting is absolutely free to attend. Online registration available through January 13, 2015. To book a room for the weekend at the Hyatt Place Fort Myers at the Forum, call (800) 993-4601 and mention that you are with the FIADA Town Hall Meeting. Room rate is $129 per night. There are no resort fees and self-parking is complimentary. The cut-off date is December 19, 2014.
28 — Independent Dealer — December 2014
October 2013 — Independent www.fiada.com Dealer — 28
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INDUSTRY NEWS NIADA Legislative Alert: Open Recall Notices During NIADA’s National Leadership Conference last week, Jennifer Timian, chief of the National Highway Transportation Safety Administration’s Recall Management Division, informed participants there are now more than 50 million vehicles with open recalls. As a result of the large number and high profile of some of these recalls, NIADA has seen increased interest among consumer advocates, investigative reporters, Congress, and state and local legislators regarding independent dealers fixing open recalls on vehicles before they are sold. Additionally, NIADA has seen a few local investigative TV reports in which hidden cameras are being taken to used car dealerships as undercover reporters inquire about vehicles with open recall notices to see what the dealer will do. These reports attempt to make dealers look suspicious and self-serving. In light of the increasing scrutiny placed on matters involving open recalls, NIADA would like to provide the following talking points and best practices for all member dealers: • NIADA dealer members are concerned about consumer safety, and as members, NIADA dealers subscribe to a strict Code of Ethics that lends itself to taking care of their customers now and in the future, offering better products, services and buying experiences.
• NIADA recommends dealers use NHTSA’s new VIN lookup tool, available at www.safercar.gov (or other programs available), to check the open recall status on vehicles for sale, and that dealers disclose to consumers the information found through the NHTSA VIN lookup tool as to whether a particular vehicle has an open recall before the vehicle is sold. • NIADA recommends, when possible, that dealers fix an open recall before a vehicle is sold. • The present recall process is entirely controlled by three entities: the United States government through the National Highway Transportation Safety Administration (NHTSA), vehicle manufacturers and franchise dealers. Independent dealers do not have any control or participation in any part of this process. • Independent dealers often are never going to receive notice from the manufacturer that a vehicle has been recalled. • Independent dealers do not have any more access to open recall notice data than consumers, and cannot make recall repairs. • The information in the new NHTSA database is not necessarily real-time information and thus may not always be accurate.
• NIADA does not want to put dealers in a position where they are required to make a representation about a vehicle’s open recall status that they do not know to be 100 percent accurate. • There is no federal law that dictates a dealer identify and fix an open recall before selling a vehicle, and NIADA is opposed to any law that would require an independent dealer to fix the vehicle before sale. • Not all recalls are safety related and vehicles should not be grounded for recalls that are not safety related. • Parts and technical data are not always made immediately or readily available to fix an open recall. It sometimes takes as long as a year or more for the parts to be released from the manufacturer or a fix to be made available. • Government officials rarely mandate that vehicles be grounded for an open recall. • NIADA also recommends that others in the automobile industry (consumers, auctions, wholesalers, etc.) use the NHTSA tool to discover whether vehicles in their ownership or control have an open recall and to have those vehicles fixed as soon as possible.
FIADA is your number one source for advice and information. Technical questions, legal questions, regulatory questions...bring them on! Our network of industry veterans, professionals and consultants can help you find the answers you are looking for. The best part is, it’s free to FIADA members. Call us anytime at (800) 237-0448! 30 — Independent Dealer — December 2014
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2014-2015 FIADA EXECUTIVE COMMITTEE:
JIM WINTERICK, SR. President Gulfstream Motor Credit Miami, FL (305) 253-2335
PAUL MATTON Senior Vice President Park Auto Mall Pinellas Park, FL (727) 639-1112
DINO MERCURIO Chairman of the Board Independent Credit, Inc. West Palm Beach, FL (561) 686-8673
LISA COMPAGNO Treasurer Palm Tree Auto Sales Stuart, FL (772) 288-2099
BRAD JOEL Secretary Splish Splash Auto Sales Princeton, FL 33032 (305) 258-1191
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SCOTT LANIER GOVINDA ROMERO PHIL RISLEY CHRISTOPHER LEEDOM STEVE MARBAIS, CMD Regional Vice President Chairman of the Board Regional Vice President Regional Vice President Regional Vice President Autoflex LLC Credit Cars Marbais Enterprises, Inc. Cars & Credit of Jacksonville AutoMaxx Gainesville, FL Orlando, FL 32808 Ocoee, FL Jacksonville, FL Sarasota, FL (407) 468-9974 (407) 295-6211 (407) 877-7422 (904) 616-4074 (941) 309-1111
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December 2014 — Independent Dealer — 31
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