FEBRUARY 2018
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Information and Insight for Florida Used Car Dealers
Everyone wants to know how the Tax Reform Act of 2018 will affect their business. Get the answers to your questions on Page 16
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February 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
Contents February 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
George Hickey Regional Vice President
8
Membership News
Steve Marbais, CMD Regional Vice President
10
Back to Basics As of January 28, all dealers are required to be using the new Buyer's Guide. Terry Myers explains why the change could be a blessing in disguise.
12
Town Halls! The first Town Hall meeting of the year is in the books, and we have the pictures to prove it. Make plans now for the next Town Hall meeting.
Jenay Rhoads Secretary Phil Risley Treasurer Frank Fuzy 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 Marketing Manager Victoria Sams Membership Manager Christy Taylor Editorial/Advertising
POSTMASTER:
Send address changes to
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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14 It's Continuing Education Time The April 1 deadline to get your CE credits is fast approaching. FIADA has you covered with in person and online options. 16
BHPH Dealerships and the Tax Reform Act of 2017 Tax reform is the topic of the day. How will it affect BHPH Dealers specifically? Find out with this Q & A.
20
Save the Date: Rewriting the Playbook 2018 NIADA, NABD and FIADA have joined together to offer a super-convention in Orlando this June.
24
His Goal is to Take Over the World Dealer consultant Kenny Atcheson takes real-world examples of true entrepreneurs and relates them to your vision for your dealership.
28
A Look at Current Legal Issues Attorneys Tom Hudson and Nicole Munro recap recent federal and legal developments of interest to dealers.
30
Industry News
February 2018 — Independent Dealer — 3
FROM THE PRESIDENT
The Digital DMV Procedures Manual BY SCOT T LANIER, CMD, FIADA PRESIDENT
I
had to spend some time at the Central Florida DMV office recently and had the pleasure of meeting Pete, LaToya and Raigan who work there. While talking with them, they gave me some information that I thought would be helpful to share with all of you. Do you remember those big blue binders the DMV used to give us when we got our license? Not only did we have to keep them on hand at our dealerships, but we also had to keep them updated any time the DMV would send a new rule or advisory. While it was a lot of upkeep, it did have a lot of information in it and was always a handy reference when needed. Today in the digital age, we are no longer required to keep those hard copies, but did you know they are all still available online? My friends at the DMV told me they wish more dealers knew about this helpful resource and asked me as president of FIADA to please share with our members. Raigan, LaToya and Pete, consider it done. In your search engine, type in "DMV Procedure Manual" and click on the first link that pops up. (The actual web address is: http://www3.flhsmv.gov/dmv/Proc/) I would suggest bookmarking it so you will be able to find it easily next time you need it. The "Motor Vehicle Procedures Manual" as it is called is basically that same old blue binder we used to keep, but digitized and now available to access any time, anywhere. You can find advisories on sales and use tax, transferring titles, license plates, EFS and so much more all in PDF form ready to access and download. There is also a link to a page that contains all the latest revisions, technical advisories and 4 — Independent Dealer — February 2018
Search "DMV Procedures Manual" or type in the address http://www3.flhsmv.gov/dmv/Proc/ to access the DMV Procedures Manual whenever you need to. memos to the manual going as far back as 2002. In addition, you can subscribe to an email list that will alert you when there is a new technical advisory, form update or procedure updated. You can also search the manual for the specific item you are looking for. I would highly recommend you spend some time on this website and see all it has to offer. Don't forget, if you have a question about something you can always call or text the FIADA at 800.237.0448. With these two resources in your pocket, there is no way you can go wrong. Scott Lanier FIADA President
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February 2018 — Independent Dealer — 5
EXECUTIVE DIREC TOR’S MESSAGE
Busy, Busy, Busy BY LISET TE MARINER, CAE, EXECUTIVE DIRECTOR
W
hat a wonderful start for 2018. We’re busy, busy, busy… The legislative session began January 9, tax season is underway, and it’s also license renewal time. Your FIADA is in the throws of the legislative session, which ends March 9. (Psst! Want to know a secret? That’s also my 50th birthday, so I’m hoping it’s going to be an amazing day and my wish is for all of our initiatives to be accomplished and nothing bad to happen.) Typically, the last day of session can be very eventful. That’s the day that everyone has their last shot at having any amendments introduced on the floor and having it pass both chambers. Some years session has ended at midnight and others it has ended by 5 pm. Since the DMV doesn’t have a bill this year, there are very few opportunities for relevant issues to be heard. The FADA did introduce a bill to update the definition of a dealer. It will also require that brokers be licensed, that franchise dealers obtain continuing education and a host of other items. This bill has been three years in the making. It’s been talked about at several Automobile Dealers Industry Advisory Board (ADIAB) meetings, of which we are a part of. Past presidents Thomas Mercurio and Steve Marbais sit on the board and represent the independent dealers. Another issue we’ve been working on with the ADIAB is the ongoing problem and misuse of transporter tags. We should see some action on that front this year. At the Town Hall meeting, we had a wonderful discussion with Jorge Martinez, CPA regarding tax reform and what it means to dealers. It was a great way for dealers to get their questions answered. There are so many questions on the impact. In this issue, we have an article on page 16 that goes into more details. Don’t forget it’s time to renew your dealer’s license. We have several opportunities to participate around the 6 — Independent Dealer — February 2018
state in CE courses in March. If you can’t make it to one of those or you prefer the online course, we have that available too. As a member, remember you get a discount for the in-person class and the online course is free. Renewal time is also a good opportunity to update your email with DMV. Though producing a bond and garage liability insurance (GLI) certificate are required at renewal, keep in mind that when your GLI and bond are about to expire that it’s your responsibility to update the DMV with renewal certificates. You are not in compliance if your insurance expires, and you risk being fined by the DMV or worse yet your license being suspended. Protect your dealership! When you take the renewal to your local office, have a copy ready for someone to initial and stamp that it was received. If you haven't heard, the NIADA is coming to Orlando for their Annual Convention this year! We are excited to co-host this event with them and look forward to high attendance from our Florida dealers. (Get details on page 20). While FIADA will not have a convention of our own this year, we are planning a special Florida-only event during the NIADA meeting that you won't want to miss, so stay tuned for the details. The NIADA convention is in June, which has changed the way we normally do our Florida Quality Dealer of the Year Award. This year, nominations need to be submitted by March 31, which is a few months earlier than normal. We have more details on the nomination process on page 30, but remember anyone can make a nomination. We even accept selfnominations, so if you think you are doing an awesome job and deserve to be recognized, send us an application! Our goal is to find the best of the best, and I am looking forward to lots of entries. We’ve had a great start and hope that you’ve had a great start to the year too! Let me know what’s happening with you. Email me at lisette@fiada.com. www.fiada.com
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February 2018 — Independent Dealer — 7
MEMBERSHIP NEWS
New Members
JANUARY 2018
AUCTIONS INTERNATIONAL INC. East Aurora, NY Russ Scherrer Sponsor: Terry Myers
FAZAL MOTORS, LLC Orlando, FL Amin Fazal Sponsor: FIADA
MOTOR ONE Orlando, FL Catalina Jaramillo Sponsor: Stan Adkins
RELIABLE WHOLESALE LLC New Port Richey, FL Fred Taylor Sponsor: Terry Myers
AUTOJINI.COM Ames, IA Syed Azam Sponsor: FIADA
HIGHWAY 27 VENTURES LLC Leesburg, FL Benjamin Moseley Sponsor: Terry Myers
PERFORMING ASSETS Stuart, FL Joe Haleski Sponsor: FIADA
SUNSATE AUTO MALL Saint Petersburg, FL Thomas Parotino Sponsor: FIADA
BLINKER INC. Denver, CO Daniel Martinez Sponsor: FIADA
JC AUTO SALES OF LIVE OAK LLC Live Oak, FL Jeffery Chaillou Sponsor: Dealers Auto Auction
Rejoining Members
JANUARY 2018
DEALER IT LLC Jacksonville, FL Wayne Dykes Sponsor: Jason Berthiaume
JOHN ARIAS Lakeland, FL John Arias Sponsor: Terry Myers
BASELINE AUTO SALES, INC. OCALA, FL JACK HAIGH Sponsor: FIADA
RIGHT WAY AUTOMOTIVE Lake City, FL Jennifer Williamson Sponsor: FIADA
DENNY'S AUTO SALES Ft. Myers, FL Dennis Hampton Sponsor: FIADA.COM
STERLING CREDIT CORPORATION Maitland, FL Lindsey Norris Sponsor: FIADA
Renewing Members
JANUARY 2018
50+ Year Members Manheim Lakeland Manheim St. Pete
Lakeland, FL Clearwater, FL
30+ Year Members Credit Cars Mancini Automotive, Inc. Manheim Pensacola Manheim Tampa Mears Transportation Group
Orlando, FL Hudson, FL Pensacola, FL Tampa, FL Orlando, FL
20+ Year Members Auction Insurance Agency Bubba Hill Auto Plaza, Inc. Holt Auto Sales, Inc. Manheim Daytona Beach R & L Auto Wholesale
Birmingham, AL Panama City, FL Kissimmee, FL Daytona Beach, FL Lakeland, FL
10+ Year Members Alas Auto Brokers, Inc. Autoline Preowned Automotive One, Inc. Butler Auto Recycling Diamond II Auto Sales, Inc. Galeria Auto Mart, Inc. M & M Auto Sales Macklin Automotive Co. Manheim Orlando Manheim Palm Beach Neal's Wheels Pegasus Classic Cars LLC
Sunrise, FL Jacksonville, FL Longwood, FL Pensacola, FL Orlando, FL Apopka, FL Cape Coral, FL Avon Park, FL Ocoee, FL West Palm Beach, FL Fanning Springs, FL West Palm Beach, FL
8 — Independent Dealer — February 2018
Prestige Auto Sales Tax Refund Services, Inc. Ultimate Image Auto, Inc. Under 10 Year Members A & J Mobility Inc Adesa Tampa Auction123.com Auto Haus of Fort Myers AutoMax Ocala Car Factory Outlet Car Solutions LLC Cars of Jax Inc Celebrity Auto Group First Florida Motor Sports, Inc. Freeland Moore dba Harbor Nissan Larry's Auto Service Center Manheim Fort Lauderdale Manheim Fort Myers Manheim Jacksonville Nash Family Automotive NextGear Capital Space Coast Auto Auction Tampa Hybrids Inc. ultimatemotorcars Vegter Automotive Welch Automotive Group, Inc. Younes Investment Inc Zen Motorsports
Ocala, FL Tampa, FL Tallahassee, FL Ruskin, FL Tampa, FL Weston, FL Fort Myers, FL Ocala, FL Miami, FL West Palm Beach, FL Saint Johns, FL Sarasota, FL Pompano Beach, FL Port Charlotte, FL Beverly Hills, FL Davie, FL Fort Myers, FL Jacksonville, FL Titusville, FL Carmel, IN Melbourne, FL Lutz, FL St Augustine, FL Cape Coral, FL Clermont, FL Kissimmee, FL Oldsmar, FL www.fiada.com
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February 2018 — Independent Dealer — 9
BACK TO BASICS
The New Buyers Guide and Other Blessings to Consider BY TERRY MYERS
There are hidden benefits to using the new Buyers Guide, if you know where to look for them. Follow the rules, stay compliant and your business will be better off.
F
ederal law requires that the new ‘Buyers Guide’ forms be in place by now.
This new document is a blessing for our industry. Instead of having to hand write Manufacturer’s Warranty Still Applies, etc., you may choose between three boxes you may check, if still applicable to the next owner. Any one of these may add perceived value to the vehicle they are considering for purchase. Be certain to obtain actual confirmation before checking a box. If a claim is made and not honored, the extra income received up front may disappear later. Checking the box where you offer a warranty for sale, may help add significant commissions/income to your bottom line at the end of each month. Keep in mind these two elements: (1) The premium is state taxable at 6 percent and county taxable at the county of registration percent on the whole amount. There is no cap. (2) Your Service Agreement Salesperson license must be active, as well. An extra 40-50% commission that may add thousands of extra bottom line dollars is an added blessing on top of the sale. 10 — Independent Dealer — February 2018
The line item recommending the customer do a ‘History’ check and to check for ‘Recalls’ before making this purchasing decision is good advice for them. It is also a blessing to the dealer because nationally recall disclosure laws were being debated and were very close to adding additional burdens to your already over-regulated life. You might want to send a letter of thanks to your state and national associations as well as your legislators for rethinking how to address these important elements.
BUYERS GUIDE IMPORTANT: Spoken promises are difficult to enforce. Ask the dealer to put all promises in writing. Keep this form.
VEHICLE MAKE
MODEL
YEAR
VEHICLE IDENTIFICATION NUMBER (VIN)
WARRANTIES FOR THIS VEHICLE:
AS IS - NO DEALER WARRANTY THE DEALER DOES NOT PROVIDE A WARRANTY FOR ANY REPAIRS AFTER SALE.
DEALER WARRANTY FULL WARRANTY. LIMITED WARRANTY. The dealer will pay ____% of the labor and ____% of the parts for the covered systems that fail during the warranty period. Ask the dealer for a copy of the warranty, and for any documents that explain warranty coverage, exclusions, and the dealer’s repair obligations. Implied warranties under your state’s laws may give you additional rights.
SYSTEMS COVERED:
DURATION:
NON-DEALER WARRANTIES FOR THIS VEHICLE: MANUFACTURER’S WARRANTY STILL APPLIES. The manufacturer’s original warranty has not expired on some components of the vehicle. MANUFACTURER’S USED VEHICLE WARRANTY APPLIES. OTHER USED VEHICLE WARRANTY APPLIES. Ask the dealer for a copy of the warranty document and an explanation of warranty coverage, exclusions, and repair obligations. SERVICE CONTRACT. A service contract on this vehicle is available for an extra charge. Ask for details about coverage, deductible, price, and exclusions. If you buy a service contract within 90 days of your purchase of this vehicle, implied warranties under your state’s laws may give you additional rights.
ASK THE DEALER IF YOUR MECHANIC CAN INSPECT THE VEHICLE ON OR OFF THE LOT. OBTAIN A VEHICLE HISTORY REPORT AND CHECK FOR OPEN SAFETY RECALLS. For information on how to obtain a vehicle history report, visit ftc.gov/usedcars. To check for open safety recalls, visit safercar.gov. You will need the vehicle identification number (VIN) shown above to make the best use of the resources on these sites. SEE OTHER SIDE for important additional information, including a list of major defects that may occur in used motor vehicles. Si el concesionario gestiona la venta en español, pídale una copia de la Guía del Comprador en español.
Download the new Buyers Guide at https://www. ftc.gov/tips-advice/business-center/guidance/buyers-guide-fillable-form
These recommendations are now blessings for all affected parties. When you sell ‘As Is’, make certain you do not void your ‘As Is’ Warranty by doing free work after consummating the sale. Either charge for the work, if properly licensed to do so, or have a ‘goodwill’ form signed
acknowledging the good deed and that the ‘As Is’ is still in full force and effect. PLEASE DO NOT ADD LANGUAGE TO THE BUYERS GUIDE, that does www.fiada.com
not belong there. You are not the government. Talk with an attorney before attempting anything of this nature. While federal law does not require the customer’s signature on the back, get one along with the federally required sentence. How can you prove you sold the vehicle with an ‘As Is’ or ‘Dealer Warranty’ when a customer complaint shows up from the DMV? Also, the Buyers Guide must be printed on the front and back on one piece of paper. The back must also contain the dealer name and contact information. Do it yourself usually means you did it too yourself.
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.
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The ‘Buyers Guide’ is a powerful tool to help you make money and keep the money you make, as long as you use it properly. Like most new tools, better results and blessings may be expected by all parties affected. Hopefully, you will deliver multiples of the ‘Buyers Guide’ daily. This will be one of your best years/blessing yet!
GOT A TECHNICAL QUESTION AND NEED SOME ADVICE?
Use the R.E.D. Phone!
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. Members can call or text us anytime at (800) 237-0448 or access our online resources 24/7 at www.FIADA.com. It pays to be a member!
REPRESENTATION | EDUCATION | DEDICATION—FIADA! www.fiada.com
February 2018 — Independent Dealer — 11
from our january town hall meeting
TOWN HALL
Join us for a day of learning and networking where you will have the opportunity to ask industry experts important questions as well as get up-to-date on the latest legal issues facing auto dealers.
FRIDAY
AC Hotel Tampa Airport 4020 West Boy Scout Blvd | Tampa, Florida
10:00 AM - 2:30 PM
Room rate is $152/night. Make a reservation by calling (888) 236-2427. Be sure to mention you are with the FIADA group. The deadline to reserve a room in the FIADA block is Thursday, March 15, 2018.
April 13, 2018
register online at www.fiada.com/events 12 — Independent Dealer — February 2018
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February 2018 — Independent Dealer — 13
2018 Is A Continuing Education Year
FIADA has you covered! CE Credits for 2018 are due by April 30. Get yours now! DMV requires that all Florida Dealers renew their Continuing Education credit every two years, and for many of you it's time to get your credits. What makes FIADA's CE choices different? They are the only courses offered by a non-profit organization with the sole purpose of education dealers and looking out for their best interest. FIADA offers two convenient methods for getting your CE credits: "Very informative, interesting, great interaction.” - Vicki, March 2017 "Awesome information - learned a lot of important stuff.” - Bill, April 2017 In Person:
$79 for members | $99 for non-members. See below for class schedule.
Interacting with the instructor and other new dealers in a face-to-face environment gives you the opportunity to ask questions that you may not have thought of on your own.
Tampa
Tallahassee FIADA Office 1840 Fiddler Court
Orlando
Jacksonville
West Palm Beach
March 2, 2018 and April 6, 2018
Manheim’s Central Florida Auto Auction 9800 Bachman Road,
March 5, 2018
March 9, 2018
March 14, 2018
March 19, 2018
Ramada Inn 11714 Morris Bridge Rd,
Online:
Manheim 10817 New Kings Road
Manheim Palm Beach 600 Sansbury’s Way
FREE for members | $39.95 for non-members. On-demand access. Start and stop as you like.
This course is given in a recorded webinar format with voice recording, powerpoint slides, and an online manual. Examples and case studies are provided to clarify ownership. Watch videos online and print your own C.E. certificate.
REGISTER BY PHONE: 800.237.0448 14 — Independent Dealer — February 2018
REGISTER ONLINE: www.FIADA.com www.fiada.com
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B U S I N E S S O P E R AT I O N S
BHPH Dealerships and the Tax Reform Act of 2017 BY DAVID J. WIGGINS, CPA, CFE, CFP
It's been over two decades since Americans have seen tax changes as far-reaching as those recently passed by Congress. The big question is how will it affect you?
T
he recent tax legislation enacted is the largest tax overhaul since 1986. While there are some elements of simplification (increasing the standard deduction, removing the alternative minimum tax (AMT) for businesses, etc.), the law as passed is quite complex. It will take years for the IRS to issue rulings and interpretations of the law and for tax court rulings to settle disputes and offer clarity. Of great importance to many dealers is the treatment of pass-through entity income (e.g., income flowing to an owner’s personal return from an S Corporation or LLC). Under the new law, the top personal tax rate was reduced from 39.6% to 37%. In addition, dealerships structured as pass-through entities are eligible for an additional 20% deduction against income, reducing the effective tax rate to 29.6%.
receipts, interest will continue to be deductible in full. For businesses with over $25 million in gross receipts (which includes larger buy here-pay here (BHPH) operators) non-floor plan interest is limited to 30% of net income before interest and depreciation. Floor plan interest is deductible in full. Interest expense is allowed to the extent of business income, so this will allow many related finance companies to deduct line-of-credit financing against related business income. Since the deduction limitation is a function of income, the limitation is most likely to apply in years in which profitability is down. It may be worthwhile to analyze the interest limitation that could apply to you for 2018 and consider whether any changes should be made to your existing capital structure in response to the limitation.
The following discussion includes answers to many of the questions dealers are asking about the new tax law.
If you have interest exceeding the limitation amount it will be carried forward to future years. If elected by the taxpayer, the limitation would not apply to interest incurred in real property development or rental real estate operations.
Is interest still deductible? For businesses with less than $25 million in average annual gross
Was LIFO affected? Although repeal of LIFO was discussed at various times in the
16 — Independent Dealer — February 2018
tax reform process, the final bill retains LIFO as a viable tax savings strategy. Since tax rates will likely be reduced for both C corporations and S corporations, dealerships on LIFO prior to 2018 will likely not only get deferral benefits from LIFO but permanent tax savings due the rate changes (based on the expected tax rates). Since the Alternative Minimum Tax has been eliminated for C corporations this will also ensure that dealers on LIFO realize the full benefits of the related deductions. Is the Cash Method Available? The new law allows for the “cash method” to be used for businesses with less than $25 million of gross receipts. Thus many BHPH operators may be able to adopt the cash method. At this time it is uncertain if the “cash method” would yield significant benefits to many dealers. While not certain, it appears the cash method would require the reporting of cash received along with the value of customer notes receivable taken on the sale. It is possible the value of the customer note may be “fair value” instead of “face value” of the note. If this is correct, it is possible a dealer could record the note receivable at a lower value and achieve benefits similar to an RFC without the RFC structure. Inventories while not required for cash method reporting have a similar situation to past reporting in that they may not be deducted when paid for but only when sold. Details related to adoption of the cash method have not been released. This is an area we will continue to monitor to find out how the IRS interprets these items. Is full expensing allowed for fixed asset purchases? Bonus depreciation has been enhanced with a full deduction Continued on page 18. www.fiada.com
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BHPH Dealers and Tax Reform continued from Page 16.
of the cost of most new or used property acquired after 9/27/17. Real estate will generally not be eligible for the bonus depreciation but certain real estate improvements will qualify. Unfortunately, when dealers were allowed to exclude floor plan interest from the 30% interest limitation (discussed earlier), the service included a related provision stating that businesses that use the floor plan interest exclusion are not eligible to use bonus depreciation for the year; thus this item will have to be determined each year. All Fixed asset acquisitions made between 9/27/17 and 12/31/17 will qualify for bonus depreciation since the interest limitation doesn’t apply until 2018. If we don’t get bonus depreciation, can we still claim Sec 179 expense? Yes, while many dealers will not be eligible for bonus depreciation, dealers may be able to immediately expense the cost of certain new and used equipment purchases under section 179. The maximum amount per year that can be expensed under section 179 been increased from $500,000 to $1,000,000, effective for tax years beginning in 2018, subject to a phase out beginning when the total cost of acquisitions during a year exceeds $2,500,000. Taxpayers can even elect to immediately expense the 18 — Independent Dealer — February 2018
cost of some building improvements, including the cost of replacing a roof or HVAC system. Now “qualified real property” for which Sec 179 can be claimed includes roofs, heating, ventilation and air-conditioning (HVAC) property, fire protection and alarm systems, and security systems. Are entertainment expenses affected? In the past, business-related entertainment expenses were 50% deductible. Under the new law, the cost of business-related entertainment is generally not deductible. Baseball tickets given to employees or customers, luxury boxes at stadiums, etc. are now nondeductible. Business related meals continue to be deductible at 50% (going to dinner with the factory rep, etc.). Business meals on site for the employer’s convenience (including Saturday salesperson lunches, etc.) are 50% fully deductible. Holiday parties remain 100% deductible. I own an S corporation, what will my tax rate be? The effective rate on your pass through income will vary each year based on your circumstances. Instead of establishing a pass through tax rate (like was the case with C Corps), Congress settled on pass through
entities being taxed at ordinary rates but with a deduction of up to 20% of qualifying income. Determining what “qualifying income” is will be tricky enough, but Congress added several limitations on the deduction as well. They include a limitation of the greater of (1) 50% of the W-2 wages paid by the business, or (2) the sum of 25% of the W-2 wages paid plus 2.5% of the unadjusted basis of all depreciable property used in the qualified business. In the end, the blended federal tax rate for many dealerships with pass through income will end up at about 29.6%. Since the C corporation rate is lowered to 21%, should a dealership switch from an S corporation to a C corporation? The earnings of a C corporation are generally subject to a lower tax rate than the earnings of a pass-through entity (21% vs. 29.6%). However, the earnings of a C corporation are subject to a second level of tax of up to 23.8% when the corporation pays a dividend or is liquidated/sold. The second level of tax means the owners of a C corporation keep about $0.60 for every $1.00 in corporate earnings, compared to about $0.70 for a pass-through entity, making a passthrough entity the entity of choice for a business that distributes most or all of its earnings. For dealerships that are looking to reinvest their earnings in the business, the lower current cash tax expense in a C corporation environment may make a C corporation the preferred entity. Each dealer’s situation is unique and there are other factors to consider as well, including whether the business owns appreciating assets (like real estate), the impact of state taxes on cash flow, and the business exit strategy and timeline. Modeling after-tax cash flow on a present-value basis is a great way to evaluate different structures for your business. www.fiada.com
What about state income tax? As you may have heard the deduction for state income tax and real estate tax paid by individuals will be limited to $10,000 per year starting in 2018. Thus state income tax paid by dealers on pass-thru dealership income will generally not be deductible. For example, an S corporation dealer making $2 million a year in a state that has a 6% tax rate will lose about $110,000 in state tax deductions ($120,000 state tax - $10,000 deduction limitation). Business property taxes continue to be fully deductible. If my dealership losses money, can I still claim refunds of prior year tax? Starting in 2018, net operating losses for C corporations and individuals with dealership pass-through losses can no longer be carried back. In prior years, such losses could be carried back two years. Since the 2017 year has ended, are there still some things I can do in light of Tax Reform changes? www.fiada.com
There has been a lot of noise about various tax tricks, etc. that can be done for your 2017 year end. Many have been generated from the tax “headlines” and not by actually reading the bill or making educated guesses on how the IRS will interpret the law. Some items are clear however: • Since tax rates are going to be lower in most instances (top rate going from 39.6% to 37% or less for S corp/partnership owners), tax deductions are worth more in 2017. If there were expenses you expected to incur in early 2018, accelerating them to 2017 will save tax. The obvious type of items are accrued expenses, prepaid items, etc. • Consider accelerated depreciation to expense fixed asset purchases, service loaners and rental vehicles. • Write off obsolete parts inventories • Adjust used vehicles down to market value • Write off old uncollectible receivable • Accruing bonuses to employees. As noted, it will take some time for the dust to settle on this law. The IRS interpretations are just starting to come out and will continue for years. They will be followed up by tax court decisions. You should discuss your current structure and any future business transactions with your tax advisor to understand the impact of the new tax law and consider whether any new tax planning strategies are available. Dave Wiggins, CPA is a principal with CliftonLarsonAllen’s dealership and buy here pay here group team. He can be reached at david.wiggins@CLAconnect.com or 314-9254300.
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If I plan to sell my dealership in the near future does a C corporation now make sense more than an S corporation? Generally no. Buyers typically prefer to structure the purchase of a business as an asset purchase so that they can amortized purchased goodwill and take a fair market value cost basis in acquired inventory. If the C corporation sells its assets and then liquidates, two levels of tax will generally apply—a 21% corporate-level income tax and a 23.8% shareholderlevel tax. The second level of tax results in an overall federal tax rate of about 40% for C corporations versus 29.6% for flow thru entities. Each taxpayer’s situation is unique and we encourage you to consult your tax advisor to discuss your entity structure to help you plan for the potential sale of your business.
February 2018 — Independent Dealer — 19
REWRITING THE PL AYBOOK 2018 REWRITING PL AYBOOK 2018 JUNE 18-21 / ROSEN THE SHINGLE CREEK RESORT / ORLANDO JUNE 18-21 / ROSEN SHINGLE CREEK RESORT / ORLANDO
ROSEN SHINGLE CREEK RESORT•ORL ANDO, FL•JUNE 18-21, 2018 ROSEN SHINGLE CREEK RESORT•ORL ANDO, FL•JUNE 18-21, 2018 The annual NIADA Convention and Expo is the premier event of the year for the used vehicle industry. The convention is designed to provide dealers with the most current education, training and
sessions and speakers that will appeal to staff at all levels of the dealership. This convention is the
Retail, BHPH, Subprime, Wholesale, Auction, etc., such as: compliance, regulations, economic
are The delivered by theismost sought-after speakers, convention designed to provide dealers motivators, analysts educators in theand with the most currentand education, training industry today. information. Convention presentations convention provides a wide variety areThe delivered by theagenda most sought-after speakers, of workshops, panel and discussions, motivators, analysts educatorsroundtable in the industry today. The you, convention provides a wide variety Why as aagenda professional, should of workshops, panel discussions, roundtable
principals, GMs, sales, F&I sessions and speakers thatand willcompliance appeal to staff at managers, andThis collectors. all levels ofunderwriters the dealership. convention is the Participants in thefor NIADA Convention and Expo ideal learning venue owner/operators, dealer will get the GMs, latestsales, information oncompliance key issues that principals, F&I and impact the independent dealer, whether you are managers, underwriters and collectors. Participants in the NIADA Convention and Expo will get the latestevent information on key issues that attend this Featuring impact the independent dealer, whether you are
media, marketing, industry benchmarks and more. Retail, BHPH, Subprime, Wholesale, Auction, etc., The of the NIADA Convention and Expo such as:format compliance, regulations, economic allows to maximize their investment trends,participants market conditions, technology, social by selecting from multiple media, marketing, industry workshops benchmarksand and more. education sessions and featured trending topics. The format of the NIADA Convention and Expo allows participants to maximize their investment by selecting from multiple workshops and education sessions and featured trending topics.
• BHPH Training
• Compliance Training Featuring • CPO Training
• Retail BHPH Operations Training Training • Compliance Training Early Registration Rate • CPO Training • Retail Operations Training • Early Registration Rate
Come early for the Inaugural NIADA Foundation Charities Golf Tournament on Monday, June 18th. Come early for the Inaugural NIADA Foundation Charities Golf Tournament on Monday, June 18th.
20 — Independent Dealer — February 2018
join us j o JUNEin u 18-21s J UNE 18 -21
YOU’R YOU’R EI EI
• Gain critical training • Face-to-face interactions that drive new ideas and build connections Why you,updates as a professional, shouldand attend thisissues event • Receive on legislative, regulatory compliance • Gain training Sharecritical best practices • Learn Face-to-face that drive new ideas and build about interactions the most current technologies, products andconnections services • offered Receiveby updates legislative, and compliance a wide on variety of our regulatory top-notch exhibitor partnersissues to • accelerate Share best your practices dealership • Learn about the most current technologies, products and services offered by a wide variety of our top-notch exhibitor partners to accelerate your dealership
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The annual NIADA Convention Expo is the event of the year for theconditions, used vehicle industry. industry information. Convention presentationsandideal learning venuepremier for owner/operators, dealer trends, market technology, social
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February 2018 — Independent Dealer — 21
SUPPORT THE FIADA PAC Your PAC Contribution helps spread awareness and gain support of issues affecting independent dealers in the state’s capitol. There’s still time to get your contribution in before the session starts if you make it today.
CONTRIBUTION INFORMATION Contributor’s Name:_________________________________________________________________________ Dealership/Company:________________________________________________________________________ Street Address, City, State, Zip:____________________________________________________________________
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Make your check payable to FIADA-PAC and mail to: FIADA • 1840 Fiddler Court • Tallahassee, FL 32308 If making payment via credit card, you may fax your contribution form to 850.385.3251
22 — Independent Dealer — February 2018
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February 2018 — Independent Dealer — 23
D E A L E R O P E R AT I O N S
His Goal is to Take Over the World BY KENNY ATCHESON
The lesson to learn from successful entrepreneurs is that in business, you always need to be able to adjust.
A
t first it was just an online book store. Then it started destroying retail markets everywhere by offering just about everything to be shipped to your door. Then the CEO decided that he wanted to eliminate the need to buy physical books and go digital. After all, it’s a lot cheaper to deliver a digital version of a book than to print and ship a physical copy. By the end of 2018, CEO Jeff Bezos of Amazon will have opened 15 physical brick and mortar book stores – he no longer has the goal of going all digital. In January 2018 Amazon’s market cap was $675 billion. Their marketing combined with membership creation via Amazon Prime and thumbing their collective noses at industry norms, and using online reviews for products have all helped Amazon grow to the Amazonian powerhouse that it is today. The company has a lot of strengths. In this article, I will focus on the attribute Amazon heads have in their ability to adjust – because it is something that most dealers need to do better. Sometimes it’s easy to look back and think that something is a no-brainer. But really, how many CEOs and other heads of companies that you know of who would step outside of their comfort zones like Bezos did for Amazon? It started as an online bookstore. Now people don’t even have to get out of their pajamas to go shopping because Amazon delivers just about everything. These aren’t small adjustment that Bezos has made for Amazon. Sometimes it’s an about-face. At first Bezos thought they would contribute to eliminating physical books by going completely digital. Then Amazon Books— physical book stores around the country started to open. The ability to adjust is powerful for a business owner. 24 — Independent Dealer — February 2018
Following are two “don’ts” and two “dos” for business leaders to adjust: • Don’t get so emotionally involved with something in your business that you can’t ever let go or adjust. • Don’t be afraid of change. Re-read Power to Change by Jim Jackson. • Do subscribe to “accurate thinking.” It’s one of the pillars in Think and Grow Rich, which one study said was the second most influential book of all time for entrepreneurs, after the Bible. • Do make sure you are informed. Be informed before everyone else. Here’s an example of how to do that: Mark Zuckerberg of Facebook made a huge announcement regarding the Facebook newsfeed. The post by Zuckerberg was a long one, but the bottom line was essentially this – most businesses will not get any website traffic or any attention on their organic Facebook posts. You will have to spend money if you want that. If you read our email newsletter which often includes updates, announcements, and predictions, you knew this was coming. You chose to be informed. I said so long ago. Before that, I said that when Facebook went public the goal would be to make money, not just grow a user base. I said they would fix the broken advertising platform. They did. I also said that at some point they would stop showing content posted by businesses—unless they pay Facebook. Google heads have done the same thing with search results over the last two years. There used to be seven ads down the right-hand side of the page, with one to three ads at the top prior to organic website results. Now there Continued on page 26. www.fiada.com
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February 2018 — Independent Dealer — 25
Learning to Adjust continued from Page 24.
are four ads at the top, then three to five Google Maps listings (which have more paid ads on them), then the organic search results. According to one Google representative in a private conversation, this has led more people to click on ads (more than 50% on desktop and even higher on mobile devices). When Google muckety-mucks make changes (and sometimes before), I make announcements and predictions about what that means for dealers.
Sometimes I can predict what’s going to happen before a big announcement because I watch industry trends closely, and my team does a lot of ongoing research. We reveal our findings via our email newsletter. We do this research so that we can adjust along with our dealer clients. The adjustment after the latest Google change meant that dealers had to shift more focus to Google Pay-Per-Click from SEO. An exception for SEO is content creation
in the form of blog posts and video marketing. We announced that shift that dealers needed to make but it was challenging for them to create videos and blog posts. Se we adjusted and created a service for both. As I write this article we are in month two of 2018: right about the time that people start to fade from their yearly goals. The gym is starting to thin out, if you know what I mean. The point of all of this is to adjust.
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
Download the FIADA app now to get access to all of your FIADA benefits whenever you need them: COUPONS
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CALENDAR OF EVENTS
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Got a question? Need some help? Use the FIADA app to help find the answers with our technical assistance line.
The FIADA app is a free download and available at: 26 — Independent Dealer — February 2018
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February 2018 — Independent Dealer — 27
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. COMPLIANCE TIP Check out the Department of Defense item below. If you sell and finance cars to military personnel, including military dependents, you need to get some quick schooling on what the DOD says is permitted and not permitted in connection with those transactions. You’ll likely need your lawyer’s help on this one. Also, you should contact your consumer reporting agency about how to obtain MLA covered borrower status or get to know the Department of Defense’s website at https://mla.dmdc.osd.mil/ mla/#/home. FEDERAL DEVELOPMENTS Blocking Another CFPB Rule? On December 1, a group of House Democrats and Republicans introduced a bill to block the CFPB’s so-called “small dollar rule” (regulating payday and title loans, among others) from going into effect. The proposed legislation exercises authority under the Congressional Review Act to prevent the rule from becoming effective on January 16. The CRA provides a procedure by which Congress can disapprove of rules issued by federal agencies within 60 legislative days of such rules being submitted to Congress for review. If both the House and the Senate vote to disapprove a rule, the agency may not issue any rule in substantially the same form in the future. Earlier this year, Congress used its CRA authority to block the CFPB’s arbitration rule. Remember the late-night tiebreaker vote by Vice President Pence? 28 — Independent Dealer — February 2018
CFPB Bulletin Deemed to be a “Rule,” and Invalid. On December 5, the Government Accountability Office opined that the CFPB’s March 2013 bulletin on auto finance and compliance with the Equal Credit Opportunity Act constitutes a “rule” subject to the Congressional Review Act. Because the CFPB did not submit the bulletin for review, the 60-day review period never began to run and the bulletin is considered not yet effective. The controversial bulletin provided detailed expectations about steps indirect auto creditors must take to monitor differences in average retail and wholesale interest rates (so-called “markups”) between protected groups and non-protected groups under the ECOA. The bulletin also detailed the Bureau’s expectations for corrective action when a creditor identifies disparities for individual dealers or within its portfolio as a whole. How Can the CFPB’s Ombudsman Help You? On December 6, the CFPB’s Ombudsman’s Office released its annual report. The report describes how the Office can assist consumers, financial institutions, and others with a question, concern, or complaint regarding a CFPB process. Atten-Hut! On December 11, the Department of Defense released an interpretive rule for the Military Lending Act to provide additional guidance to industry regarding compliance with its July 2015 final rule amending the MLA’s implementing
regulation. The July 2015 rule amended the regulation to extend MLA protections to a broader range of closed-end and open-end credit products. In August 2016, the DOD issued a Q&A interpretive rule to help industry comply with the July 2015 rule. The current amendments to the interpretive rule provide new Q&As in an effort to provide additional guidance concerning compliance with the July 2015 rule, but raise serious questions regarding the sale and financing of ancillary products. CASE OF THE MONTH In what actually is not a case, but an important enforcement action, Cowboy AG, LLC, a Texas buy-here, pay-here dealer doing business as Cowboy Toyota and Cowboy Scion, recently agreed to settle FTC charges that it used deceptive ads in a regional Spanish-language newspaper. On December 8, the FTC published a description of the proposed settlement agreement in the Federal Register for public comment. The FTC will decide whether to accept the proposed agreement or take other action after it reviews the comments. The FTC alleged that Cowboy’s ads buried fine print English-language disclaimers that contradicted the ads’ more prominent Spanishlanguage claims. As part of the proposed settlement, Cowboy has agreed that when it must make any information “clear and conspicuous” under the Truth in Lending Act and the Consumer Leasing Act, it will www.fiada.com
ensure that the information is easily noticeable and easily understandable by ordinary consumers, including a requirement that its disclosures “must appear in each language in which the representation that requires the disclosure appears.” This means that Cowboy must provide Spanishlanguage disclosures in its Spanishlanguage ads.
The proposed settlement is against one Texas dealer, but it could create a potentially wide-ranging TILA/ CLA reinterpretation of the “clear and conspicuous” standard in ads. If you advertise credit terms in a language other than English, see your lawyer, because the Cowboy settlement reflects the FTC’s apparent position that it may be unlawful to provide related TILA-required information in English.
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Although the FTC has consistently included this foreign language requirement in the definition of “clear and conspicuous” in Section 5(a) FTC Act settlements, this proposed settlement represents an expansion of the foreign language requirement into a settlement that includes TILA and CLA claims. Moreover, it appears that the FTC has announced this broadened “clear and conspicuous” standard through this proposed settlement, instead of through the proper course of notice and comment rulemaking. Because the FTC does not have rulemaking authority under TILA (that authority rests with the CFPB), the FTC appears to be doing by enforcement what it cannot do by rulemaking.
It’s time to change your approach to F&I compliance
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(nmunro@hudco.com) are partners in the law firm of Hudson Cook, LLP. For information, visit www.counselorlibrary. com. Copyright CounselorLibrary. com 2017, all rights reserved. Single publication rights only, to the Association. (2/16). HC# 4848-8454-3277. www.fiada.com
To To order, order, visit visit us us at at www.counselorlibrary.com/offer/spot www.counselorlibrary.com/offer/spot or or call call us us at at 877-464-8326. 877-464-8326. Also follow Also follow us us on: on: February 2018 — Independent Dealer — 29
INDUSTRY NEWS
Attention: We're Looking for the FIADA's Next Top Dealer Quality Dealer of the Year Applications and Nominations are now being accepted. The Quality Dealer of the Year award is the FIADA's top honor. It is given to a member dealer who embodies customer service, community involvement and business success. To be considered for the Quality Dealer award, the nominee should: • Demonstrate service to the industry through membership and involvement in the FIADA and NIADA. • Be committed to offering exceptional service to customers, both during and after a sale. • Maintain the highest standards of employee and business associate relations. • Be highly respected and enjoy a good personal and business reputation within their local community. • Be involved in the affairs of his/her local community. A complete list of qualifications can be found online at www.fiada.com/qualitydealer Nominations will be accepted through March 31, 2018. This year, the Florida Quality Dealer winner will be announced at the NIADA/FIADA 2018 Convention (June 18-21) at the Rosen Shingle Creek in Orlando, FL. To make a nomination, go to www.fiada.com/qualitydealer 2018‐2019 FIA DA Quality D ealer Nomina Please submi tion Form t form to FIADA by March 31, 20 Fax to 850‐38 18. 5‐3251, Email to info@fiada Mail to FIADA .com or 1840 Fiddler Court Tallahas see, FL 32308 Nominee Info rmation: (Self ‐nominations Name:______ are accepted) ____________ ____________ _________ Tit le:__________ Name of Dea lership: _____ ____________ ____________ _______ ____________ ______ Address:____ ____________ ____________ ____________ ____________ __ ____________ ____________ City, State, Zip ____________ :___________ _______ ____________ ____________ ____________ Phone:_____ ____________ ____________ ____________ _______ ____________ ____________ Email:_______ ____________ ____________ _______ ____________ ____________ ____________ Why do you t hink this deal ____________ ership is a qu ______ and dealersh ality dealer? If kno ip accomplish wn, please in ments. clude commu nity involvem ____________ ent ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ _ ____________ ______ ____________ ____________ ____________ ____________ ____________ _______ ____________ ____________ ____________ ____________ ____________ ____________ ____________ _ ____________ ____________ ____________ ____________ ____________ ____________ ____________ _ ____________ ____________ ____________ ____________ ____________ ____________ ____________ _ ____________ ____________ Nominator In formation: ____________ ____________ _ Name: _____ ____________ ____________ ____________ ____________ Phone:_____ ____________ ____________ ____________ ____________ __ ____________ ____________ Email:_______ ____________ ____________ _______ ____________ ____________ ____________ ____________ ______
#WomenInAutomotive: Video Competition Share a video publicly on Facebook, Instagram or Twitter and include the hashtag (#WomenInAutomotive) for the chance to win a free Apple Watch! While women currently represent only about 19 percent of dealership employees in the United States, there have never been more opportunities for women to create lasting, impactful careers in automotive retail. Are you a woman who works in automotive retail? If yes, please share a quick video talking about your experience, and join the National Auto Dealers Association (NADA) in encouraging other women to consider pursuing automotive careers! Share a little about who you are, what you do and why you would encourage other women to pursue similar careers. What do you want other women to know about why a career in a dealership might be right for them? What do you wish you knew before you started your own dealership career? What are the top three benefits to working at a dealership that women probably don’t know about? Post the video publicly on Facebook, Instagram or Twitter, and be sure to include the hashtag: #WomenInAutomotive. The top 10 videos as chosen by NADA will receive a Apple Watch.
2018 NIADA Foundation Scholarship Applications Available Regional college scholarships available for High School Seniors through NIADA The NIADA Foundation proudly sponsors four young men or women each year who have displayed outstanding abilities in education. These students will each receive a $3,500 scholarship sponsored by Manheim to the college or university of their choice. The awards are presented each June of every year at the National Independent Automobile Dealers Association (NIADA) Convention. To apply, go to https://www.niada.com/foundation_scholarship.php and download the application. Applications must be postmarked by March 16, 2018. 30 — Independent Dealer — February 2018
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2017-2018 FIADA EXECUTIVE COMMITTEE:
SCOTT LANIER, CMD President Credit Cars Orlando, FL 32808 (407) 295-6211
FRANK FUZY
LISA COMPAGNO
Chairman of the Board Palm Tree Auto Sales Stuart, FL (772) 288-2099
GEORGE HICKEY
STEVE MARBAIS, CMD
Regional Vice President Bond Auto Sales, Inc. Tampa, FL 33604 (813) 238-7478
Regional Vice President Marbais Enterprises, Inc. Ocoee, FL (407) 877-7422
JENAY RHOADS
PHIL RISLEY
Secretary Florida Auto Exchange Co., Inc Dunedin, FL (727)-796-2886
Treasurer Cars & Credit of Jacksonville Jacksonville, FL (904) 616-4074
BRANDI NOEGEL
JIM WINTERICK, SR.
Regional Vice President Noegel’s Auto Sales Starke, FL (904) 964-6461
Chairman of the Board Gulfstream Motor Credit Miami, FL (305) 253-2335
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Regional Vice President Century Motors of S. Fla., Inc. Pompano Beach, FL 33064 (954) 785-0369
BRAD JOEL
Senior Vice President Splish Splash Auto Sales Princeton, FL 33032 (305) 258-1191
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February 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
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
32 — Independent Dealer — February 2018
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