www.FIADA.com
JULY 2017
Information and Insight for Florida Used Car Dealers
Staying the course Another successful NIADA Convention and a renewed partnership with our strongest ally. Page 4
PLUS Register now for the FIADA Annual Convention while the Early Bird Discount is still available! Page 17
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July 2017 — Independent Dealer — 1
Protect. Promote. Preserve. SINCE 1940
Florida Independent Automobile Dealers Association
“
Why Join FIADA? representation A lobbyist and legislative committee that fights for you and the industry’s interests.
EDUCATION FREE continuing education and free unlimited technical assistance calls with FIADA legal counsel.
The number of benefits you receive as a member pays for the price of your membership. For $325 you can’t afford not to be a member.
It costs less than $1.00 per day to get connected.
dedication Access 100+ vendors who specialize in auto industry needs and over 800 dealers Statewide who handle issues like yours.
”
savings
Lisa Compagno,
FIADA member discounts at over 15 auctions in Florida, Georgia and Charleston. A savings of over $2,000.
FIADA President Palm Tree Auto Sales, Stuart, FL
discounts Exclusive savings on advertising opportunities, DMS, financing, floorplanning, GPS and other dealer services. Licensed dealers receive complimentary membership and additional benefits with NIADA.
DUES: $325 Annually
Sponsor:_____________________________________
Company Name:________________________________________________________
q New Mbr q Associate Mbr
Address:___________________________________ City:__________________________ State:_________ Zip:________ Phone:________________________________Fax:__________________________ Email:_________________________ By signing I agree to the FIADA
code of ethics and FCC Consent. Principal Contact:__________________________________ Signature:________________________________________
Payment Method: q Check (made payable to FIADA)
q Visa
q Mastercard
q American Express
q Discover
Card Number:_________________________________________________ Expiration Date:____________CVV:_________ I authorize FIADA to charge my credit card listed above. Name on Card:_____________________________________________________________________________________
Dealer Type: q Retail
q BHPH
q Wholesale
Years in business?__________ Licence# ______________________
FCC Communications Consent: I understand that by providing my mailing address, email address, telephone number and fax number, I consent to receive valuable and timely communications via mail, parcel, email, telephone, text and/or fax from or on behalf of the Florida Independent Automobile Dealers Association (FIADA). This consent shall remain in effect until FIADA receives written revocation signed by an authorized representative.
2 — Independent Dealer — Julyinfo@fiada.com 2017 800.237.0448 | Fax: 850-385-3251 | Email: | www.FIADA.com | Florida Independent Automobile Dealers Association, 1840 Fiddler Court,www.fiada.com Tallahassee, FL 32308
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 E XECUTIVE COMMITTEE Lisa Compagno President Scott Lanier, CMD Senior Vice President Jim Winterick, Sr. Chairman of the Board Christopher Leedom Secretary Brad Joel Treasurer Frank Fuzy Regional Vice President George Hickey Regional Vice President Steve Marbais, CMD Regional Vice President Dino Mercurio Regional Vice President Brandi Noegel Regional Vice President FIADA STAFF Lisette Mariner, CAE Executive Director Terry Myers Educational Instructor Jason Berthiaume Education and Events 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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Contents July 2017
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 Lisa Compagno
8
Executive Director’s Message Lisette Mariner, CAE
10
Back to Basics Terry Myers clarifies a member's question about the rules on cash reporting and the IRS 8300 Form.
12
Staying the Course: Back From the 2017 NIADA Annual Convention & Expo
14
Membership News
15
Have You Analyzed Your DNA? Understand the core of your business and unleash surprising results.
16
Let the Good Times Roll! FIADA is making big plans for the Annual Convention. Registration is now open for the state's premier event. Register before August 31 to get the Early Bird Discount!
20
Do Online Reviews Really Matter Anyway? You better believe it! Dealer Profit Pro Kenny Atcheson explains why they are vital and what you can do to cultivate them.
22
Three Reasons Why Dealerships Fail to Convert Leads into Buyers Surprising survey results reveal that it may be time to take a look at your sales process and evaluate technology improvements.
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 July 2017 — Independent Dealer — 3
FROM THE PRESIDENT
New Ideas Welcome at NIADA Convention BY LISA COMPAGNO, FIADA PRESIDENT
W
hat happens in Vegas, stays in Vegas…unless you went there for a convention and want to share some cool stuff you learned. The 2017 NIADA Convention was recently held in Las Vegas from June 12 to June 15 at the Mirage Hotel and Casino. The week included a lot of different workshops and breakout sessions that covered such topics as Forecasting the Future of the Auto Industry, Deciphering Changes to the Used Car Rule, and Charting Your Course to Higher Net Profits. One of the highlights was a Keynote Address from Captain Richard Phillips, the inspiration for the hit movie Captain Phillips and author of A Captain’s Duty: Somali Pirates, Navy SEALS, and Dangerous Days at Sea.
For instance, review your expenses with a fine-tooth comb and renegotiate vendor contracts or find new vendors even down to trash removal; basically, audit all your expenses. Other ideas included joining a Dealer 20 Group to get a better handle on your expenses; convert to LED lighting to save costs; use the NIADA Compliance Suite for training employees; and create a site with transparent pricing from vendors that all NIADA members have access to so we can see what pricing is like around the nation and to be able to better negotiate prices with vendors. For this last idea, I will be following up with the group to see if this is something we can accomplish. I think it would be great for us to have some transparency with regard to how much our major vendors, like Autotrader, Cargurus, Cars.com, Carfax. etc., charge throughout the country for the same service.
I want to spend our time, however, recapping the State President’s Council meeting I attended. The State President’s Council is a meeting made up of state independent auto dealer A best idea was not crowned. Instead, the group unanimously association (IADA) presidents, officers and board members voted to donate the $500 to the GoFundMe campaign started from around the country. The states that participated included by the Massachusetts IADA which is seeking to raise money for Alabama, California, Colorado, Florida, Georgia, Hawaii, the families who lost loved ones during the tragedy at Lynnway Idaho, Illinois, Massachusetts, Michigan, Mississippi, Nebraska, North and South Carolina (they share the same IADA), Ohio, Oregon, Texas, and Virginia. This meeting is a perfect example of how our
strength in numbers as a national association
The topics discussed included (1) a best idea gets things accomplished. contest for how we can unite to drive costs down; (2) how to build a better reputation in the used car industry; (3) how to work on Auto Auction on May 3, 2017. For more information about the bargaining relationships with larger vendors to help reduce cost GoFundMe campaign see https://www.gofundme.com/lynnwayin operations; (4) new legal updates from around the country; tragedy. (5) the National Auto Auction Association (NAAA); and (6) a state-by-state update. We covered a lot of ground in our threeAnother highlight was the report regarding a meeting held with hour meeting—too much to recap in this article. But, I do want Matt Arias who is the Director of Manheim Arbitration and to touch on a few highlights. Chairman of the NAAA Auction Standards Committee. This meeting is a perfect example of how our strength in numbers The group had a total of $500 for the best idea contest. The as a national association gets things accomplished. At the last contest generated some good ideas to drive costs down. Some of the ideas might seem obvious but they are worth mentioning. Continued on page 6. 4 — Independent Dealer — July 2017
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July 2017 — Independent Dealer — 5
PRESIDENT'S MESSAGE continued from Page 4.
State Presidents Council meeting in March, which was held in Dallas, TX, Stan Martin from Colorado IADA noted an article from Mr. Arias in one of our trade magazines. In the article, Mr. Arias stated he was interested in hearing from dealers and offered his email address to that end. Stan suggested we all take Mr. Arias up on his offer and let him know the issues we experience on a regular basis with Manheim arbitration. This campaign was a success and led to the face-to-face meeting with Mr. Arias. Discussed during the meeting was whether Manheim would change its policies regarding is disclosure and arbitration policies for a variety of items such as emissions control equipment; missing airbags or deployed airbags; state issued VIN plates; decal misplacement; flood damage; police cars; fuel conversion; third party dealers running in another lane; and corrosion damage. The most productive part of the State Presidents Council meeting was the passing of two motions to give the NIADA direction on what the state IADAs would like to collectively see from NIADA as an additional benefit of our membership. The two motions were: 1. For the NIADA to engage in a long-term campaign to build the NIADA brand including using Facebook, a nationwide campaign, engaging a PR firm, TV/Print ads and any other appropriate means to set NIADA dealers apart from other dealers. This motion was borne out of concern that we as NIADA and state IADA members do not get any recognition from
consumers for our membership with these associations because consumers do not understand the meaning or value of what it is to be an NIADA/State IADA member. The consensus was that the NIADA should engage in some sort of brand building campaign to bring more value to our membership. 2. For the NIADA to create an advisor committee made up of independent dealers representing different areas of the country with the purpose of reviewing the practices of larger vendors and insuring their programs are benefiting the independent dealer. This motion was borne out of concern that several of our larger vendors are continually and consistently increasing prices on us and their pricing is inconsistent across the country. We also don’t see where the vendors are helping to promote the NIADA brand; whereas we are consistently promoting their brands. The group consensus was that we, as the member dealers, should be directly involved with these negotiations and that these negotiations should be facilitated by NIADA. The group also recommended that the NIADA create a quarterly survey for our members to rate the vendors that we do business with. The intent is that this rating system will provide feedback to these vendors regarding their popularity or lack thereof with our members. If you have any questions or feedback about the foregoing, feel free to email me at compagnola@gmail.com. Lisa Compagno FIADA President
Do you have an interesting hobby? A secret talent no one knows about? Received a special accomplishment? Our dealers are more than just their dealerships. We want to know more about what you do when you leave the lot. Send us a photo and tell us about it. You can email your submission to us at info@fiada.com or post it on our social media pages. You could be featured in the next magazine!
6 — Independent Dealer — July 2017
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July 2017 — Independent Dealer — 7
EXECUTIVE DIREC TOR’S MESSAGE
Quality is Job 1 BY LISET TE MARINER, CAE, EXECUTIVE DIRECTOR
R
emember back in the 1980s when Japanese brands like Toyota and Nissan were skyrocketing to the top of US car sales leaving well-established American manufacturers scrambling to keep up? Ford rolled out that iconic slogan "Quality is Job 1" emphasizing the focus of their company was on the value of their product. I think that is what all customers are looking for, especially in the auto industry. That the product they are buying is built with quality, sold with quality and maintained with quality. The NIADA and FIADA have placed an emphasis on quality for a very long time. For decades, both organizations have recognized the best dealers for traits like honesty, integrity, character, service and business success. It is easy to do maybe one or two of those things really well, but to balance them all takes real talent. At the NIADA Convention, we got to see first-hand the quality dealers that have made this industry what it is. Faces from the past proudly on display in the background as reminders of what today's men and women should be striving for as well as today's heroes that work the front lines and are happy to share their secrets of success. I was proud to be a Floridian when our most recent NIADA Quality Dealer Scott Lanier took the podium and addressed the crowd at the Quality Dealer banquet. Scott is a great example of all that is right with the auto industry and how honesty and profitability can really go hand-in-hand. We were extremely excited to honor Anthony Compagno as the FIADA Quality Dealer of the Year and present him to the rest of the country as one of Florida's best and brightest. Anthony is leading the second generation at Palm Tree Auto Sales with just as much integrity and determination as his father and is doing a fantastic job. The NIADA Quality Dealer of the Year for 2017 was Bob Blankenship with Texas Auto Center. Kudos to Bob! 8 — Independent Dealer — July 2017
Above: Anthony Compagno is honored as Florida's Quality Dealer at the NIADA Convention. Left: NIADA's Quality Dealer Scott Lanier at the Quality Dealer celebration. In just another week or so, your FIADA Board will be meeting in Tampa for the quarterly Board of Directors Meeting. I always look forward to this meeting because we get to review the nominations for this year's FIADA Quality Dealer. The Nominating and Awards Committee meets to determine the winner. It's a closed-door meeting only to keep the honoree's name a secret until we formally announce it at the Annual Convention in October. What a celebration that will be, as this year we bring back the pomp and circumstance of the Annual Banquet to recognize the Quality Dealer as well as other prestigious FIADA awards. That reminds me, if you haven't already registered for the convention, what are you waiting for? The Early Bird registration discount is only available until August 31. Flip to page 17 for the registration form, or just go to www.fiada.com and take care of it there. The banquet's theme is "Masquerade Ball" and we will have great food and live entertainment by an awesome band called MPiRE. It's going to be a blast. Please make sure you are there! www.fiada.com
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July 2017 — Independent Dealer — 9
BACK TO BASICS
Clarification on Cash Reporting and the IRS 8300 Form BY TERRY MYERS
T
he FIADA received a question through the technical assistance line recently that I thought was worth sharing with everyone:
“Per the FL Continuing education training, the FL DOR needs to be notified when submitting an IRS 8300 form to the IRS. Can you please verify if this information is accurate. If so, please let me know what information the FL DOR needs to be made aware of.” Thank you, D.O.
Well, D.O., thank you for your question. Let's discuss the answer. Publication GT-400400, TAX INFORMATION FOR MOTOR VEHICLE DEALERS is available for download from the DOR Forms area on their website at http://floridarevenue. com/Forms_library/current/gt400400.pdf Print the form. Go to Section 16, Miscellaneous Issues. You will read that you must send a copy of the IRS Form 8300 to the DOR within 15 days to the address listed in that section. While we are on the subject, let's remember a few other "for your information" items. 1. IRS Publication 1544, https://taxmap.ntis.gov/taxmap/ pubs/p1544-001.htm says that in addition to sending the 8300 to them, you must notify your customer in writing that a report was filed. 2. The Wayne Reaves Dealer Management system has all this on auto pilot, to notify you of the need to comply and even provide the needed documents for you to print, complete and send. 3. It is a good idea to send each Certified, Return Receipt Requested as proof in a potential audit. Missed items may cost as much as $25,000, each. Remember funds in excess of $10,000 in a single transaction must be reported within 15 days. Make the deadline to avoid a fine.
10 — Independent Dealer — July 2017
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4. Don't even wait the 15 days. Once the need to report arises and the customer has left, stop everything else and get all this done in 15 minutes. Hopefully, this helps answer your question, Terry LB Myers P.S. The address to send the copy of form IRS 8300 is: Florida DOR PO BOX 6609 Tallahassee, FL 32314-6609
Follow numbers 1-4 above to educate yourself. If your dealer management system does not watch this for you, you could also contact Kevin or Don Scott at (352) 427-6122 for more information on how to up your game, before you become the game.
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Funds in excess of $10,000 cash or cash equivalent in a single sum or multiple sums (BHPH) within a 12 month period, on a single transaction must be reported within 15 days. Did you know that a cashiers check for $7,000 combined with a money order for $4,000 is considered $11,000 in cash and must be reported? Better to learn it now then in an IRS audit at $25,000 for each missed report.
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.
DO YOU HAVE A TECHNICAL QUESTION AND NEED SOME ADVICE? Members can call or text us anytime at (800) 237-0448 www.fiada.com
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July 2017 — Independent Dealer — 11
FIADA was well-represented at the NIADA Annual Convention in Las Vegas. Check out these pics from the big event.
12 — Independent Dealer — July 2017
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July 2017 — Independent Dealer — 13
MEMBERSHIP NEWS
New Members
JUNE 2017
AMERICAB AUTO INVESTMENT, LLC Tampa, FL Enrique Fernandez Sponsor: Terry Myers
KING AUTOMOTIVE GROUP Deerfield Beach, GA Norm Rohan Sponsor: Florida DMV
ASSURED MOTORS Brandon, FL Jacqualine Addison Sponsor: Terry Myers
LMN AUTO Gainesville, FL Latorrick Davis Sponsor: John Cousins/Dealers Auto Auction
AUCTION DEAL FINDER, LLC Winter Garden, FL Sidney Azambuja Sponsor: Terry Myers
MCMILLAN MOTORS INC Jacksonville, FL Daniel McMillan Sponsor: Terry Myers
CAR BLUE Ft. Myers, FL Antonio Esposito Sponsor: FIADA
MSKMOTORS Palmetto, FL Matthew Keefer Sponsor: David Allion
COASTAL CARS & CARTS Panama City Beach, FL Gary Ellis Sponsor: Terry Myers
LUKE NEELY Lakeland, FL Sponsor: Terry Myers
DOUGLASS AUTO SALE, LLC Panama City, FL Fred Moseley Sponsor: Terry Myers EXUS, CORP. Miami, FL Frank De La Oliva Sponsor: FRT GRANDINTLINC Hollywood, FL Hakan Senaltan Sponsor: FIADA INTERNATIONAL AUTO CHOICES LLC Hollywood, FL Michaela Oxendine Sponsor: Terry Myers JXT AUTOMOTIVE, LLC Plant City, FL Barbara Jackson Sponsor: FIADA
RECOVERY CENTER & MANAGEMENT Ft. Lauderdale, FL Nick David Sponsor: FIADA RTK AUTO SALES LLC Boca Raton, FL Robert Krebs Sponsor: Independent Dealer Magazine DARELL SIMON Eustis, FL Sponsor: Terry Myers SOUTHWEST FLORIDA AUTO Ft. Myers, FL Chauncey Solinger Sponsor: FIADA.com V & J AUTO SALES, LLC Arcadia, FL Jon Levin Sponsor: FIADA.com
Rejoining Members
JUNE 2017
ACCOUNTING AND TAX RESOURCE CENTER Pembroke Pines, FL Maria Leonardo Sponsor: Amelia Tillman
MAJESTIC AUTOMOTIVE, LLC Davenport, FL L'Tasha Huyghue Sponsor: FIADA
DOMINICKS AUTO INC Holly Hill, FL Laurie Campagnuolo Sponsor: FIADA.com
NATIONAL DEALER SERVICES Jacksonville, FL Mark Kramer Sponsor: John Cousins - Southeast Car Agency
14 — Independent Dealer — July 2017
Renewing Members 30+ Year Members Harold D. Corey Auto Broker Southeast Car Agency, Inc. Tallahassee Auto Auction Turnpike Motors 20+ Year Members Carmax Auctions Century Motors of S. Fla., Inc. Dick Moye Auto Sales, Inc. Gulfstream Motor Credit Co. Maxx Motors Mike Hill Used Cars, Inc. Motorcar Gallery, Inc. 10+ Year Members American Recovery Association Auto Express Enterprises, Inc. Auto Use Golden Oldies Auto Sales, Inc. McKinna Auto Sales Trinity Motors Warren's Auto Sales Under 10 Year Members American Classic Car Sales Apex Auto, Inc. Auto Sales of Winter Garden, LLC Carlisle Events Cars Unlimited Central Florida Sales & Leasing Charleston Auto Auction Cliff Shuler Auctioneers DEALERPLATFORM, LLC ETS Autos First Place Auto Sales, Inc. FirstSun Financial, Inc. FL Sunshine MC Parts Company, LLC Floorplan Xpress LLC-OK Fort Myers Auto Mall Greenway Auto Sales Haims Motors Inc Hometown Auto Mart, Inc. House of Cars USA One, LLC LDB Motors, LLC MicroBilt Millennium Luxury Coaches Premier Motor Cars Quality Equipment & Parts Inc Regional Wholesale, Inc. Rick's Auto Marketing Center South Rock Bottom Auto Sales, Inc. Sunshine Kia of Miami Title Technologies, Inc. Wing Motors Automobile Corp Woodall Auto Wholesale, Inc. Worldwide Auto Credit LLC WorldWide Motors LLC
JUNE 2017 Indian Rocks Beach, FL Gainesville, FL Tallahassee, FL Pompano Beach, FL Richmond, VA Pompano Beach, FL Pensacola, FL Miami, FL Princeton, FL Panama City, FL Ft. Lauderdale, FL Irving, TX Orlando, FL Andover, MA Hudson, FL Brunswick, GA Sarasota, FL Avon Park, FL Sarasota, FL Altamonte Springs, FL Winter Garden, FL Carlisle, PA Tampa, FL Orlando, FL Moncks Corner, SC Titusville, FL Neptune Beach, FL Sanford, FL Gainesville, FL Jacksonville, FL Kissimmee, FL Oklahoma City, OK Ft. Myers, FL Jacksonville, FL Hollywood, FL Dunnellon, FL Coconut Creek, FL Orange Park, FL Kennesaw, GA Sanford, FL Bonita Springs, FL Lake City, FL Haines City, FL New Smyrna Beach, FL Hudson, FL Roslyn, NY South Jordan, UT Miami, FL Ocoee, FL Jacksonville, FL Jacksonville, FL
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D E A L E R O P E R AT I O N S
Have You Analyzed Your DNA? Focus on the core of your business, fine-tune your dealership's unique traits and processes and you can build a more profitable future. BY MICHAEL WATERMAN
W
hat is DNA? In the car business, I tagged that years ago as “Dealership's Natural Ability.” Whether you are a single point new car dealer, a dealer group or a independent used car dealer, you have a natural ability to sell certain models well. We would refer to these as the “core” units you should always have in stock and look to replace as quickly as you sell them. What percentage of your inventory is currently a “core” unit? How does that compare to what you have sold over the last three, six or 12 months? Does your current “mix” make sense? Now, how do you figure out what your DNA is? Let’s start with cost of acquisition. Do you know what your cost of acquisition is from each venue you
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use? Start with fees, such as buy fees and the cost of transportation. How much does each venue tack on to every car you buy? How quickly
Combine Your Dealership's Natural Ability with an examination of how quickly you can turn your inventory do you get the car to your location? What is your “days to market” from each venue? That is how long it takes you to have the car through your shop, reconditioned and in the front line and online for sale. How many days does that take? Top dealer groups in the US run between five and seven days to market. In this business, it’s all about turn. You cannot maintain a 25-day turn if you are taking 12 to 15 days to get a vehicle retail ready.
Look at your average turn and average gross. How long did it take to sell? How much did you make? What was your gross profit per day? If you sold a car for $2,000 in 20 days, that is $100 per day gross profit. If you sold a car for $3,000 but took 60 days to sell it, that is only $50 per day gross profit. If you are working towards a better turn which is better? In the first example you are turning your inventory 18+ times per year at $2,000 per copy. The second example turns your inventory only six times per year. If you have 20 cars in stock today, example one would move 350+ units in a year at $2,000 per copy. The second example would move 120 units at $3,000. Which is better? Gross is not always king--turn PLUS gross is. Now add in what your DNA looks like, evaluate your most cost effective acquisition sources and you will win. A 20-plus year veteran of the auto industry, Michael Waterman brings deep experience in market development, hiring top sales talent and working with dealerships to enhance their wholesale process. Prior to his arrival at ACV, Michael most recently served in product and sales management roles at Dealersocket, Dealertrack and Adesa; after beginning his career managing dealerships.
July 2017 — Independent Dealer — 15
T
his year's FIADA Annual Convention has it all! You don’t want to miss out on the chance to network with other Florida dealers, earn your continuing education credits for your 2018 renewal, visit the Mardi Gras themed exhibit hall, and attend the Saturday night Masquerade Ball. Register now for your ticket to the best party in town. Early birds save by registering before August 31. Use the form on page 17, or at www.FIADA.com.
MASQUERADE BALL IT'S BACK! The Saturday Night Annual Banquet and Awards Ceremony will return this year with a fun and glamorous Masquerade Ball theme. Join us Saturday, Oct. 7 from 6:30-11:00pm for food, fun, dancing and prizes!
EXHIBIT HALL FUN & GAMES
HOTEL ACCOMMODATIONS You're going to love the luxurious accommodations at the Omni Orlando Resort at ChampionsGate. Exquisite dining and meeting rooms, world-class golf and gorgeous details will be the backdrop for the 2017 Annual Convention.
Omni Orlando Resort at ChampionsGate 1500 Masters Boulevard ChampionsGate, FL 33896 Get into the Mardi Gras spirit at 1-800-THE-OMNI the Exhibit Hall Grand Opening on Friday, Oct. 6 from 5-9pm! Mention the FIADA Convention to receive Enjoy games, food and visiting the discounted rate of $179/night plus tax. vendors in our Exhibit Hall. Cut-off Date: Sept. 4, 2017 16 — Independent Dealer — July 2017
KEYNOTE SPEAKER NIADA'S Chuck Bonanno, national director of the NIADA 20 Group Program will bring his thirty years of experience to the table as the Convention Keynote Speaker. You won't want to miss this informative and educational address.
CONTINUING EDUCATION Here's your chance to catch up on any CE Credits while getting the latest updates on legal issues, business operations and dealership best practices. www.fiada.com
2017 FIADA ANNUAL CONVENTION
OCTOBER 5-7, 2017 | OMNI ORLANDO RESORT AT CHAMPIONSGATE COMPANY INFORMATION Company:____________________________________________________________________________________________________________ Address:_________________________________________________________ City, State, Zip:________________________________________ Phone:___________________________________________________________ Fax:________________________________________________ E-mail:__________________________________________________________ Website:_____________________________________________
REGISTRATION INFORMATION FULL ACCESS PASS (Includes all events and meals)
EARLY BIRD (4/1 - 8/31)
Badge Name:_____________________________________________________________
MEMBERS
[
] $249
REGULAR (9/1 - 9/30)
[
] $299
ON-SITE (10/1-10/7)
[
] $349
NON-MEMBERS [ ] $299 [ ] $349 [ ] $399 ADDITIONAL FULL ACCESS PASS (Available with purchase of Full Access Pass) Badge Name:_____________________________________________________________
[
] $195
[
] $195
[
] $195
Badge Name:_____________________________________________________________
[
] $195
[
] $195
[
] $195
[
] $100
[
] $100
[
] $100
[
] $99
[
] $124
[
] $149
SPOUSE FULL ACCESS PASS (Available with purchase of Full Access Pass) Badge Name:_____________________________________________________________ Tickets to the Annual Banquet are included with all Full Access Passes. For our planning purposes, will you and your guests be attending the Annual Banquet on Saturday evening?
Yes
No
EDUCATION PASS (Does not include meals) Badge Name:_____________________________________________________________
MEMBERS
NON-MEMBERS [ ] $124 [ ] $149 [ ] $175 ADDITIONAL EVENT TICKETS Saturday Night Gala Dinner Banquet (semi-formal attire)
Qty:_____________
X $75
X $75
X $75
Friday Night Expo Hall Grand Opening Dinner
Qty:_____________
X $50
X $50
X $50
Friday/Saturday Breakfast
Qty:_____________
X $25
X $25
X $25
Friday/Saturday Lunch
Qty:_____________
X $25
X $25
X $25
FULL ACCESS AND SPOUSE FULL ACCESS PASSES includes all meal functions, seminars and exhibit hall access and is eligible for continuing education credit. Additional Full Access passes and Spouse pass are only available with a Full Access registration. Valid FIADA membership required for FIADA member registration rates. CHILD REGISTRATIONS AVAILABLE Contact FIADA at (800) 237-0448 for details and to register.
TOTAL:
$
PAYMENT INFORMATION [
] I have enclosed a check made payable to FIADA
[
] I will be using a credit card
Name (as it appears on card):_______________________________________ Company:______________________________________________ Credit Card Billing Address:_______________________________________________________________________________________________ Credit Card Number:_________________________________________________________________
Exp Date:__________________________
Authorized Signature:_________________________________________________________________ CC Security Code:____________________ CANCELLATION POLICY: If cancellations are received in writing before 5pm on Monday, September 4, 2017, we will refund your registration fee. If cancellation is received between 9/5/17 and 9/29/17, we will refund your registration fee less a $25 processing fee. Fees cannot be refunded for registrations canceled after 9/29/17 or for no-shows. PHOTO/VIDEO RELEASE: By registering for the 2017 FIADA Annual Convention, I hereby grant permission to use any and all photographic imagery and video footage taken of me at this event and activities pertaining to this event, without payment or any other consideration. I understand that such materials may be published electronically or in print, or used in presentations or exhibitions.
HOTEL INFORMATION: Omni Orlando Resort at ChampionsGate. Hotel stay is separate from convention registration. Reservations must be made by SEPTEMBER 4, 2017 to qualify for group discount of $179 per night (plus tax) For reservations call 1-800-THE-OMNI (800-843-6664).
Return this completed form, or register: Mail: FIADA, 1840 Fiddler Court, Tallahassee, FL 32308 Fax: (850) 385-3251 Online: www.FIADA.com www.fiada.com
Call/Text: (800) 237-0448
July 2017 — Independent Dealer — 17
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:____________________________________________________________________
q
Check q
q
$500
Credit Card (one time contribution) q q
Credit Card Information:
$250 q
q Visa
$100 q
q
MasterCard
Monthly Credit Card Contribution (until cancel)
$50 q
q
$25
q
American Express
_________ q
Discover
PAYMENT INFORMATION Name on Card: Card number: Exp Date:
Sec. Code:
Billing Phone:
Billing Address Authorized Signature
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
18 — Independent Dealer — July 2017
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July 2017 — Independent Dealer — 19
D E A L E R O P E R AT I O N S
Do Online Reviews Really Matter Anyway? Online reviews not only have the potential to make or break a sale, but they can also deter interested customers from even walking on your lot. If you don't agree, keep reading. BY KENNY ATCHESON
W
hen asked about online reviews, dealers typically offer one of six responses:
In 2016, Bright Local published a study about an Online Review Survey. Research shows that:
1. There is nothing we can do about it; our customers are quick to complain. 2. We ask for reviews but haven’t had much success. 3. We used to ask. We gave up. 4. We are doing pretty good—we only have “X” negative reviews. 5. We don’t have any reviews at all. That’s a good thing right? 6. Our customers don’t read online reviews.
•
Denial is not a river in Egypt. A dealer who believes that people don’t read online reviews has probably given up and wants to believe that customer reviews are irrelevant. Potential customers do read online reviews; they choose not to do business with dealerships because of negative appraisals from existing customers.
•
Then there are dealers who believe that online reviews are irrelevant because they know their dealership treats people right—despite what unhappy customers have said in any negative online reviews. But consider that how people are actually treated at that dealership versus the perception of how that customer is treated may be opposite. As a consumer, you may be one of the very few these days who does not read reviews when searching online for something to buy. It is important to realize the difference in how you think and how your customer thinks. Your customer has an entirely different mindset than yours. 20 — Independent Dealer — July 2017
• • • •
•
84% of people trust online reviews as much as a personal recommendation 7 out of 10 consumers will leave a review for a business if they're asked to 90% of consumers read less than 10 reviews before forming an opinion about a business 54% of people will visit the website after reading positive reviews 73% of consumers think that reviews older than three months are no longer relevant 74% of consumers say that positive reviews make them trust a local business more 58% of consumers say that the star rating of a business is most important
This was not a study just for car buyers. One could argue that the more important the purchase, the more a customer will research that purchase…meaning online reviews could matter even more for car dealerships. So not only do customers read reviews, they trust online reviews. More trust leads to a faster, smoother sales process and more effective marketing and advertising. Simply asking customers to write a review likely won’t be as effective because there needs to be a mechanism to filter unhappy customers and complainers. Used car dealers get complaints. The trick is to keep complaining internal and get positive feedback posted publicly. There is a right way and a wrong way to do this; using a system is a step in the right direction. www.fiada.com
Keep in mind that the customer is being asked to do something in addition to handing over their money. If they see it as a favor to the business, they may think, “I already did you a favor when I bought your product and gave you my money.”
When a system is in place to help earn positive reviews on a regular basis and negative reviews comes in (they will), it will cost sales if that review is front and center on Google or the dealership web page for the next two weeks or however long it takes for more positive reviews to offset the impact.
Asking for reviews without any filter to weed out unhappy customers is a gamble. Without a system it may take 100 happy customers to write the same amount of reviews that has the same effect on your rating as one unhappy customer.
No reviews at all is not a good thing. It’s dangerous. When one negative review pops up (it will), potential customers will see that the business has 100 percent negative reviews.
Then there is the idea that the business with only a few negative reviews is doing pretty good. Well, that depends. Is there 1,000 great reviews and 10 bad ones? Or are there 25 good reviews and 10 bad ones? If you want a threshold, have at least a 4.1 rating and shoot for a 4.5. Consider the American grading scale.
You should stand out for the right reasons!
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 PayPer-Click Management, Direct Mail Campaigns, Copywriting, and more. His website can be found at www.DealerProfitPros.com
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Buyers do not know whether or not the business has sold thousands of vehicles to thousands of happy drivers. All they know is what is right in front of them—recent bad reviews. More than a few. If there are four online reviews and two are negative, all the potential customer sees is that 50 percent of those customers are unhappy.
Online reviews and the little orange stars that go with them are the only way to stand out on local search results pages when someone searches for a dealer in a certain area.
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July 2017 — Independent Dealer — 21
D ATA T R E N D S
Three Reasons Why Dealerships Fail to Convert Leads Into Buyers BY AUTOLOOP, LLC
Amid shrinking buying opportunities, studies shine spotlight on areas for sales process and technology improvements.
A
utoLoop LLC, an auto industry marketing and customer relationship management company says the three top reasons why auto dealerships have difficulty converting leads into buyers are: inadequate explanation of the pricing and value proposition, lack of timely follow up and not using leads' preferred follow-up communication methods. The data was extracted from two studies: AutoLoop's 2016 Digital Engagement (ADE) study, which surveyed 1,000 auto consumers and analyzed the purchase behavior of over 4 million customers representing 1,000 dealerships from across the U.S.; and from the 2016 Autoloop XRM Unsold Customer Survey Results, which questioned 60,000 unsold customers after their initial visit at a national sample of dealerships. "Many dealers are quick to blame low conversion rates on the quality of leads, or they accept low conversion rates and opt to spend more money to get more leads; but our study points to different reasons for low conversion rates," said Doug Van Sach, AutoLoop’s Vice President of Analytics and Data Services. "The data tells us that key areas where dealers are failing to convert have to do with the internal sales process
22 — Independent Dealer — July 2017
Your lead conversion rate could be affected by the way you explain pricing, how you follow-up and how you communicate with your prospects. and the failure of sales teams to use technology and tools available to them." The importance of converting digital leads is magnified by two trends identified in AutoLoop's Digital Engagement study. On average, car shoppers only test-drive two vehicles during their purchase process. Additionally, generational preferences indicate fewer dealership visits in the future. While 83 percent of Baby Boomers and 80 percent of Gen Xers prefer to test-drive vehicles
at a dealership, just 60 percent of Millennials prefer to test-drive vehicles at a dealership, while a whopping 40 percent prefer virtual or non-dealer location test-drives. Combined, these two trends reveal shrinking buying opportunities for dealers. To increase lead conversion rates, the studies' results shine a spotlight on three specific areas that auto dealers can target for sales process and technology improvements. Continued on page 24. www.fiada.com
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July 2017 — Independent Dealer — 23
CONVERT LEADS TO BUYERS continued from Page 22.
Explain Pricing and Value Proposition
When car shoppers were asked why they chose to purchase a vehicle from a particular dealership, their top reasons were: (1) good value for the money, (2) selection of vehicles, (3) ease of purchase experience, (4) quality of salespeople, and (5) convenient location.
salespeople may want to ease up on the pressure and focus on making the purchasing process as pleasant and fast as possible."
Follow Up in a Timely Manner
When car shoppers were asked why they did not repurchase at a particular dealership, their top reasons were: (1) prices are too high, (2) plan on buying another brand, (3) dealer is too far from home, (4) too much pressure to buy, and (5) paperwork took too long.
Just 47 percent of car shoppers surveyed said they received followup communications from the dealership, while 53 percent said they received no follow-up at all. This breakdown has a significant impact on the purchase rate, as 26 percent of customers who received followup decided to purchase from that dealership, while only 15 percent of customers who did not receive follow-up from a dealership ended up purchasing there.
"The reasons given to purchase and not to repurchase were similar, which tells us that it really is up to the individual salesperson to be transparent about pricing and to reinforce price points with additional benefits offered by the dealer, such as large vehicle inventory or free loaners during subsequent service visits," said Van Sach. "Additionally,
"These figures are shocking as everyone knows that follow-up is a basic tenet of the sales process," said Van Sach. "This tells us that many salespeople do not understand the real value of follow-up, are not being held accountable to the established processes within the dealership, or don’t have sufficient time available to contact every unsold customer."
Communicate Via Prospects' Preferred Methods
Another important finding is that most car shoppers prefer their followup to be in the form of an email or phone call, and that preference varies by generation: • •
Baby Boomers: 60 percent prefer a call and 40 percent prefer email. Gen X and Millennials: their preference is split 50/50 between email and phone calls.
"I believe just about every CRM has a place to track a preferred method of contact, or it's very easy to store the information in a customer’s profile. One strategy dealers can employ is to ask customers for their preferred method of contact during their initial interaction with a dealer either online or in the store," said Van Sach. "Dealers that focus on enhancing their sales process and usage of technology in these three areas will see significant improvements in their lead conversion rates."
Since 2005, AutoLoop has helped automotive dealerships nationwide increase sales, improve client retention and achieve overall higher customer satisfaction ratings throughout the Sell, Service, Repeat cycle. To learn more about how to optimize the Sell, Service, Repeat cycle though AutoLoop’s full customer engagement suite, call 877-850-2010 or visit AutoLoop.com.
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! 24 — Independent Dealer — July 2017
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July 2017 — Independent Dealer — 25
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
Grand Hyatt Tampa Bay 2900 Bayport Dr Tampa, Florida 33607
10:00 AM - 2:30 PM
Room rate is $139/night. Make a reservation by calling (888) 421-1442. Be sure to mention you are with the FIADA group. The deadline to reserve a room in the FIADA block is Tuesday, June 27, 2017.
july 28, 2017
register online at www.fiada.com/events Town Hall meetings are FREE for all dealers to attend. Attendees enjoy a complimentary lunch made possible by event sponsors Auto Data Direct, Inc., Golden Eagle Management Services LLC, Innovative Auto HR LLC and Wayne Reaves Software.
come for the town hall and stay for the fiada board of directors meeting Here’s your chance to help your industry. Attend the FIADA Board of Directors meeting and offer your input and insight. All members are encouraged to join the conversation on July 29, 2017. Details available at FIADA.com 26 — Independent Dealer — July 2017
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July 2017 — 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 We usually don’t repeat tips from previous articles, but in light of the “Case of the Month” discussed below, here’s one we have offered before – make sure that your computers/ printers are entering information on your retail installment contracts, buyers’ orders and leases in exactly the correct place. Misalignment of data entry can create compliance violations, and these sorts of compliance violations – ones that apply to every deal you do – make for dangerous class actions. It is often the case that “close” just won’t cut it. If you have any question about whether your alignment is close enough, talk to your lawyer. FEDERAL DEVELOPMENTS VW Clean Diesel Claims. On May 17, the FTC announced that a federal district court judge in San Francisco signed a settlement negotiated by the FTC and private plaintiffs providing for consumer redress and starting the formal claims process for owners of Volkswagen, Audi, and Porsche 3.0 liter TDI diesel cars. The settlement deals with Volkswagen’s allegedly misleading “clean diesel” claims. The FTC will monitor VW’s compliance with the settlement’s provisions, which include special protections for those in the armed forces and rural consumers who may be far from the nearest dealer. Under the 2.0 liter and 3.0 liter settlements, Volkswagen will offer consumers over $11 billion in compensation. The FTC announced in February that consumers who 28 — Independent Dealer — July 2017
bought 3.0 liter vehicles will receive up to $1.2 billion in compensation in addition to the more than $10 billion redress fund already created for 2.0 liter consumers. In all, consumers who bought affected “clean diesel” vehicles will receive up to $11.5 billion, and the court may hold Volkswagen in contempt if it makes deceptive environmental claims in the future. BHPH Dealers, Take Note. On June 8, CFPB director Richard Cordray provided some clarity on the status of the CFPB's debt collector rulemaking by announcing that the CFPB will carve certain "right consumer, right amount" rules out of the debt collector rulemaking and instead address such rules in a separate rulemaking for first-party creditors. In its July 2016 Outline of Proposals under Consideration for debt collectors, the CFPB included a number of proposals that would affect the information shared between creditors and debt buyers or thirdparty debt collectors and would impose specific, ongoing obligations on debt collectors to ensure that they are collecting the right amount from the right consumer. Director Cordray explained that the CFPB has found that these "right consumer, right amount" rules would benefit from input from all market participants (especially creditors, because they create the information about the debt upon which debt collectors rely). Therefore, Cordray said, the CFPB plans to focus its debt collector
rulemaking on rules that will affect debt collection practices and require disclosures. Cordray anticipates the CFPB will be able to "move forward more quickly" on the debt collector rulemaking by carving out rules that could affect creditors and taking up "right consumer, right amount" rules in a separate rulemaking for firstparty creditors. Third Party FAQs? On June 7, the OCC issued frequently asked questions to supplement OCC Bulletin 2013-29, "Third-Party Relationships: Risk Management Guidance," which was originally issued October 30, 2013. OCC Bulletin 2013-29 provides guidance to national banks and federal savings associations for assessing and managing risks associated with thirdparty relationships. The FAQs provide further explanation of the guidance outlined in an earlier OCC Bulletin. “Why should dealers care about these FAQs?” you ask? The answer is that dealers sell their retail installment contracts and leases to national banks and federal savings associations, and the dealers are the sorts of third parties that the OCC is worried about. CASE OF THE MONTH Check Mark in General Vicinity of Vendor's Single Interest Insurance Checkbox Not Sufficient to Disclose Premium and Exclude It from Finance Charge: After buying a car from a dealership, the buyer sued the dealership for violating the Truth in Lending Act by failing to accurately www.fiada.com
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disclose the finance charge. The buyer argued that the dealership should have disclosed a premium for vendor's single interest insurance as part of the finance charge, instead of as part of the amount financed. The trial court granted summary judgment for the buyer, and the federal appeals court affirmed. The dealership argued that it provided the buyer with sufficient notice under TILA to exclude the premium from the finance charge. The financing agreement contained a VSI provision with a checkbox, and that provision stated that VSI insurance was required, the premium amount, and that the buyer could choose her insurance company. However, the appellate court found that the
dealership did not comply with the TILA notice requirement because the VSI provision was not properly checked. While there was an "XX" indicator in the general vicinity of the VSI provision, it was not close enough for a reasonable jury to conclude that the box was checked. Further, even if there was ambiguity about whether the box was checked, it could not constitute a "clear and specific" disclosure, as required by TILA. The court disregarded the dealership's argument that the provision provided notice that VSI insurance was required, even if the box was unchecked. See Franco v. A Better Way Wholesale Autos, Inc., 2017 U.S. App. LEXIS 8689 (2d Cir. (D. Conn.) May 18, 2017).
Tom (thudson@hudco.com) and Nikki (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.
It’s time to change your approach to F&I compliance
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July 2017 — Independent Dealer — 29
INDUSTRY NEWS NIADA Praises House Passage of Financial CHOICE Act The U.S. House of Representatives took a major step toward creating more opportunity and accountability in the nation's financial markets Thursday when it passed the Financial CHOICE Act of 2017 by a 233-186 vote. The bill, introduced by House Financial Services Committee chairman Jeb Hensarling (R-Texas), would overhaul the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and make substantial reforms to the Consumer Financial Protection Bureau. The bill has been a primary focus of the National Independent Automobile Dealers Association's advocacy efforts and was one of NIADA's top legislative priorities as part of its annual Day on the Hill during the National Leadership Conference and Legislative Summit in Washington D.C. last September. "NIADA and its members have long advocated for the need to reform the over-burdensome regulatory framework created by the Dodd-Frank Act, including the unaccountability and overreach of the Consumer Financial
Protection Bureau," NIADA CEO Steve Jordan said. NIADA's support for the Financial CHOICE Act centers around three important points. • The bill would restructure the CFPB to make it accountable to Congress and the American people. It would subject the bureau to expanded congressional oversight and judicial review, and would be funded through the congressional appropriations process rather than automatic funding through the Federal Reserve. • The bill would protect consumers' ability to resolve differences with businesses through arbitration which can be faster, cheaper and more efficient than the courts. • The bill would revoke the CFPB's anti-consumer indirect lending guidance document, which would have raised the cost of car and truck loans by restricting auto dealers' ability to discount credit. The bill would require the CFPB to obtain public comments and consider the cost of credit to consumers before issuing anything similar in the future.
Sales Tax for Vehicles Sold in Florida to Out of State Residents Florida law allows a partial sales and use tax exemption for a motor vehicle purchased by a resident of another state. The tax imposed is the amount of state sales tax that would be imposed by the purchaser’s home state if the vehicle were purchased in that state; however, the tax imposed must not exceed the Florida 6% tax rate. The tax collected must be remitted to the Florida Department of Revenue as it is a Florida tax. The nonresident purchaser is required to complete Form DR-123, Affidavit for Partial Exemption of Motor Vehicle Sold for Licensing in Another State, declaring the intent to license the vehicle in his or her home state within 45 days of the date of purchase. The completed Form DR-123 is provided to the selling dealer or, if purchased from an individual, to the tax collector or private tag agent when purchasing a temporary tag for the vehicle. If the nonresident purchaser licenses the motor vehicle in his or her home state within 45 days from the date of purchase, there is no requirement that the motor vehicle be removed from Florida. The Department has posted a chart containing information from each state regarding the rate of Florida tax to be imposed under this provision on its website at https:// revenuelaw.floridarevenue.com. Search 16A01-24R2. The partial exemption for a motor vehicle sold in Florida to a nonresident purchaser does not apply to a 30 — Independent Dealer — July 2017
nonresident corporation or partnership when: • An officer of the corporation is a Florida resident; or • A stockholder who owns at least 10 percent of the corporation is a Florida resident; or • A partner who has at least a 10 percent ownership in the partnership is a Florida resident. However, the partial exemption may be allowed for corporations or partnerships if the vehicle is removed from Florida within 45 days after purchase and remains outside Florida for a minimum of 180 days, regardless of the residency of the owners or stockholders of the purchasing entity. Arkansas, Mississippi, and West Virginia impose a sales tax on motor vehicles, but do not allow a credit for sales tax paid to Florida. Residents of these states should be informed that when a vehicle is purchased in Florida, sales tax must be paid to Florida at the rate imposed by their home state and sales tax must also be paid to their home state when the vehicle is licensed there. Delaware imposes a fee on the purchase price of motor vehicles, Georgia imposes a title ad valorem tax fee on motor vehicles, and Maryland and Oklahoma impose a motor vehicle excise tax; however, these states do not allow a credit for sales tax paid to Florida. Residents of these states should be informed that when a vehicle is purchased in Florida, sales tax must be paid to Florida and the fee or tax imposed in their home state must also be paid when the vehicle is licensed there. www.fiada.com
2016-2017 FIADA EXECUTIVE COMMITTEE:
LISA COMPAGNO President Palm Tree Auto Sales Stuart, FL (772) 288-2099
JIM WINTERICK, SR. Chairman of the Board Gulfstream Motor Credit Miami, FL (305) 253-2335
STEVE MARBAIS, CMD GEORGE HICKEY Regional Vice President Regional Vice President Bond Auto Sales, Inc. Marbais Enterprises, Inc. Ocoee, FL Tampa, FL 33604 (407) 877-7422 (813) 238-7478
CHRISTOPHER LEEDOM BRAD JOEL Secretary Treasurer AutoMaxx Splish Splash Auto Sales Sarasota, FL Princeton, FL 33032 (941) 309-1111 (305) 258-1191
BRANDI NOEGEL DINO MERCURIO Regional Vice President Regional Vice President Noegel’s Auto Sales Independent Credit, Inc. Starke, FL West Palm Beach, FL (904) 964-6461 (561) 686-8673
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FRANK FUZY Regional Vice President Century Motors of S. Fla., Inc. Pompano Beach, FL 33064 (954) 785-0369
SCOTT LANIER, CMD Senior Vice President Credit Cars Orlando, FL 32808 (407) 295-6211
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July 2017 — Independent Dealer — 31
MANHEIM FLORIDA ALWAYS NEARBY.
Manheim Daytona Beach 1305 Indian Lake Road Daytona Beach, FL 32124 386.255.2500 Sale: Wed 3 PM Total Resource Auction every Wed 2:30 PM Manheim Fort Lauderdale 5353 S State Road 7 Davie, FL 33314 954.791.3520 Sale: Fri 9 AM Total Resource Auction Tue 9 AM Ford Open Sale every other Fri Manheim Fort Myers 2100 Rockfill Rd Fort Myers, FL 33916 239.476.9800 Sale: Wed 4 PM Total Resource Auction every other Wed 3 PM Specialty Sale last Wed monthly 2 PM Galloway Direct Off Site Sale 2nd & 4th Tues 12 PM Manheim Jacksonville 10817 New Kings Rd Jacksonville, FL 32219 904.768.9981 Sale: Thurs 1 PM Total Resource Auction every Thurs 12:40 PM Manheim Lakeland 8025 N State Road 33 Lakeland, FL 33809 863.984.1551 Sale: Wed 2 PM Specialty RV/Boat Sale 1st Wed monthly 9 AM
32 — Independent Dealer — July 2017
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 Salvage Sale Thurs 11 AM
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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
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