CAR LINES
S TAT E A F F I L I AT E
INDIANA INDEPENDENT AUTOMOBILE DE ALERS A S S O C I AT I O N
FEBRUARY 2017
A S S O C I AT I O N N E W S
IIADA PRESIDENT ANDY ZAY JOINS STATE CONGRESS
Named Senator for Indiana Senate District 17 Page 3
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Andy Zay stands in the center with his predecessor, Congressman-elect Jim Banks, and state representative Christopher Judy
(Photo Courtesy: Indiana GOP via Twitter).
A S S O C I A T I O N
N E W S
IIADA PRESIDENT ANDY ZAY JOINS STATE CONGRESS Senator for Indiana’s 3rd Congressional District
The Indiana Independent Automobile Dealers Association congratulates Andy Zay on being chosen by the GOP caucus to replace state senator Jim Banks in the Indiana Senate. The Indiana Republican Party held a caucus in Wabash recently to replace Banks, who resigned his position as state senator after being elected as U.S. Representative for Indiana’s 3rd Congressional District in November. Sen. Zay officially became Indiana’s newest state senator Dec. 20, when he took the oath of office from Indiana
Supreme Court Chief Justice Loretta Rush. “Today begins an exciting day of service to the folks of the 17th District and the state of Indiana,” Zay said. “I am honored and humbled to be following in the footsteps of such legendary Senate leaders as Jim and Amanda Banks, Gary Dillon, Harold Wheeler and Gene Snowden. I’m looking forward to working with my Senate colleagues in the upcoming session.” Senate District 17 covers Wabash County and portions of Grant, Huntington and Whitley counties. Zay
will serve on the Senate committees on agriculture, natural resources, education and career development, and insurance and financial institutions for the 120th general assembly. Zay earned his bachelor’s degree from Indiana University. He is a member of the regional board of Junior Achievement of Northern Indiana and the owner of Zay Leasing and Rentals, Inc., in Huntington. He also serves as IIADA president and is a Huntington Township board member. Zay will complete the remainder of Banks’ term, which runs through 2018.
Sen. Andy Zay takes the oath given by Indiana Supreme Court Chief Justice Loretta Rush.
www.iiada.com
February 2017 / CAR LINES
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INSIDE
BOARD MEMBERS
06..................................................Choosing a Recovery Agent 08.................................................. NIADA Government Report 09....................................................Nominate a Quality Dealer 10............................................................. Indiana BMV Update 14................................................When Good Recon Goes Bad 18..................................................................Inventory Sources 22................................................. Key Factor in Sales Success
WHAT’S NEW
CMD Dates Announced
Class dates for NIADA’s industry leading Certified Master Dealer program have been announced for the upcoming year. Look for a class coming to your area! Dates include Feb. 9-11 in Portland, Ore.; May 15-17 in Atlanta; Sept. 12-14 in Dallas; and Dec. 11-13 in Tampa, Fla.
Visit www.niada.com or contact Diann Flanders at 888-906-8283 or diann@niada.com for more information.
ADVERTISERS INDEX
ADESA ...................................................................................15 AutoZone ...............................................................................18 Black Book................................................................................5 BMW Group Direct.............................................................. IBC Dyer Auto Auction..................................................................16 Kesler Schaefer AA..................................................................9 Manheim ................................................................................11 Manheim Pennsylvania..........................................................13 NextGear Capital................................................................... 17 NIADA CPO........................................................................... IFC Protective................................................................................. 7 VAuto....................................................................... Back Cover
OFFICE
For information on how to become a member of IIADA, please call 219.661.0287 128 S. East Street # 1393 Crown Point, IN 46308 iiada@comcast.net • www.iiada.com
NIADA HEADQUARTERS
NATIONAL INDEPENDENT AUTOMOBILE DEALERS ASSOCIATION WWW.NIADA.COM • WWW.NIADA.TV 2521 BROWN BLVD. • ARLINGTON, TX 76006-5203 PHONE (817) 640-3838 For advertising information contact: Troy Graff (800) 682-3837 or troy@niada.com. Car Lines is published 10 times per year by the National Independent Automobile Dealers Association Services Corporation, 2521 Brown Blvd., Arlington, TX 76006-5203. Periodicals postage paid at Dallas, TX and at additional offices. POSTMASTER: Send address changes to NIADA State Publications, 2521 Brown Blvd., Arlington, TX 76006-5203. The statements and opinions expressed herein are those of the authors and do not necessarily represent the views of Car Lines or NIADA. Likewise, the appearance of advertisers, or their identification as members of NIADA , does not constitute an endorsement of the products or services featured. Copyright © 2017 by NIADA Services, Inc.
STATE MAGAZINE MGR./SALES
Troy Graff • troy@niada.com EDITORS
Jacinda Timmerman • jacinda@niada.com Andy Friedlander • andy@niada.com MAGAZINE LAYOUT
Christy Haynes • christy@niada.com PRINTING
Nieman Printing
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President
Andy Zay Zay Leasing & Rentals, Inc. 4957 N. Broadway Huntington, IN 46750 Phone: 260.356.1588 azay@sbcglobal.net
Chairman of the Board Legislative Chairman Fritz Kreutzinger Fritz Associates P.O. Box 168 Fishers, IN 46038 317.842.2228 Fax: 317.842.7900 fritzauto@aol.com
Vice President
Tony Del Real Del Real Automotive Group 1002 Walnut Avenue Frankfort, IN 46041 Phone: 765.446.9204 tdelreal@delrealauto.com
Treasurer
Bruce Norton Drive1 USA, Inc. 1512 W. 96th Avenue Suite C Crown Point, IN 46307 Phone: 219.670.0542 Bnorton@drive1usa.com
Secretary
Sharon Brennan Fritz in Fishers 8599 E. 116th Street Fishers, IN 46038 Phone: 317.842.2228 sharonb@fritzinfishers.com Tricia Trent Trent Auto Sales 1327 N 6th St. Vincennes, IN 47591 812.882.3772 Fax: 812.882.1986 ttrent01@yahoo.com
Jennifer Cotton Dyer Auto Auction 219.865.2361 Fax: 219.322.1761 bcotton@dyerauction.com Kim Graham Kim Graham, Inc. 1648 A US 31 S Greenwood, IN 46143 317.888.0100 Fax: 317.888.8900 k.motors@sbcglobal.net Ed White White’s Auto Sales 1105 McKinley Ave. Rensselaer, IN 47978 219.866.7553 Fax: 219.866.7256 edwhite123@att.net John Stumpf Greater Kalamazoo Auto Auction P. O. Box 697 Schoolcraft, MI 49087 269.679.5021 jstumpf@kalamazooaa.com Tony Houk Kesler-Schaefer Auto Auction, Inc. 5333 W. 46th Street Indianapolis, IN 46253 317.297.2300 Fax: 317.297.6236 skesler@ksaa1.com Tyler Trent Trent Auto Sales 1327 N 6th St. Vincennes, IN 47591 812.882.3772 Fax: 812.882.1986 ttrent01@yahoo.com
Taryn Sanchez White’s Auto Sales LLC 1105 N. McKinley Avenue Rensselaer, IN 47978 Phone: 219.866.7553 twhite1517@att.net Harold Drees H.T.D., Inc. 200 E. Main Street Thorntown, IN 46071 317.402.2312 Fax: 765.436.7222 htdinc@msn.com Doug Alvey First Class Auto Sales, Inc. 695 W. 900S Hebron, IN 46341 219.996.2600 Fax: 219.531.4628 talvey65@yahoo.com Andrew J. Inabnitt Approval Auto Credit Inc. 9825 Huggin Hollow Rd. Martinsville, IN 46151 317.422.8001 Fax: 317.422.8020 joe@approvalautocredit.com David D. Baldwin II Best Deal Auto Sales, Inc. 1875 SR 8 Auburn, IN 46706 260.357.0099 Fax: 260.357.0090 dbthesecond@yahoo.com Debbie Andersen Executive Director 128 S. East Street # 1393 Crown Point, IN 46308 219.661.0287 iiada@comcast.net
Travis Baldwin Best Deal Auto Sales 2526 Scotswolde Drive Fort Wayne, IN 46808 Phone: 260.483.7999 travisbaldwin@ bestdealautosalesonline.com
www.iiada.com
MANAGEMENT MATTERS BY LES McCOOK
CHOOSING A RECOVERY AGENT Dealers Should Use Agents with an Association Membership
When you hire a recovery agent, you expect him or her to represent your company well. Unfortunately, if you don’t take time to find and qualify a recovery agency, things can go very wrong fast. To protect yourself and your business from the Consumer Financial Protection Bureau and lawsuits, there is some valuable information you should know about the collateral recovery agent you hire. An important step is to verify the recovery agent is a member of a professional association. Associations, such as the American Recovery Association, have a lot of benefits and requirements that make recovery agents more qualified than most. Here are five important qualificiations met by recovery agents with an association membership. 1. Professionally trained and certified. Professional recovery agents should be able to demonstrate a basic knowledge
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about the laws that pertain to self-help repossessions. Associations offer training and certification programs to their members and their employees. 2. Meet and uphold high standards. Association applicants must meet high standards and complete a detailed application process to become a member. This includes having proper licensing as required by the state and/or local authorities, an extensive background check and an analysis of their financial health. In some cases, a criminal background check is not an easy thing to do. However, the courts have clearly ruled you cannot delegate responsibility in a self-help repossession, which means you could be held liable for a wrongful repossession. Hiring a professional with an association membership assures you are employing an individual who adheres to a strict code of ethics. 3. Secured by insurance and client protection bonds. When you research potential recovery agents to use, inquire about their coverage and the limits of their liability insurance policy. Do not accept a standard auto policy as an acceptable form of liability insurance. The recovery agent’s insurance certificate should have wrongful repossession listed. The insurance policy should also have a minimum limit of $1 million. ARA provides a $5 million bond for its members, the largest
bond in the collateral recovery industry. 4. Have experience in the industry. In some associations, a minimum number of years in business is a requirement for membership. This ensures a professional has experience under their belt. In addition, by becoming a member, a professional has connection to a large network of professionals around the country who are available and open to sharing best business practices and advice when needed. 5. Utilize state of the art tools. Association leaders make it a priority to keep up to date with the newest technologies and resources to inform their members of new tools to improve their business. Using new technology can have a significant impact on your bottom line and association members are some of the first to know and use them. Choosing a recovery agent from a reputable association with strict standards for members ensures you and your business are protected. Do not settle for any other recovery agent. Know who you are hiring and find qualified individuals with high standards to keep you and your business safe. Les McCook is executive director of American Recovery Association, Inc.
www.iiada.com
WASHINGTON UPDATE
NIADA GOVERNMENT REPORT
July 2016, the CFPB issued proposals it was considering for a debt collection rule for third-party collectors. They are not intended to apply to a first-party creditor collecting its own debts. In the agenda, the CFPB said it will convene a panel of small businesses to consider rulemaking focused on companies that collect their own debts sometime in 2017.
Here’s a rundown of some of the latest governmental issues and activity affecting the used car industry from NIADA senior vice president of legal and government affairs Shaun Petersen and NIADA lobbyist Sante Esposito of Key Advocates.
DEPARTMENT OF JUSTICE Volkswagen settlement: DOJ, the EPA and the state of California announced a settlement with Volkswagen AG, Audi AG, Porsche AG and related entities regarding 3.0-liter diesel vehicles sold or leased with emissions defeat devices. For 2009-12 Volkswagen Touareg and Audi Q7 models, Volkswagen is required to offer to buy back the vehicles or terminate leases, and must also offer a modification to substantially reduce emissions, if one is proposed by Volkswagen and approved by regulators. For 2013-16 vehicles affected, including the Touareg, Q7, Porsche Cayenne and Audi A6 Quattro, A7 Quattro, A8, A8L and Q5, if VW demonstrates it can make the vehicles compliant with the certified exhaust emission standards, it will have to fix the vehicles and will not be required to buy them back. Volkswagen is also required to spend $225 million to fund projects that will reduce emissions of nitrogen oxide. Vehicle owners and lessees will receive updated information from Volkswagen, Audi and Porsche concerning their available buyback or modification options once the settlement is approved by the court. Information is also available at www.vwcourtsettlement.com and www. audicourtsettlement.com. Dealer arrested: A New Jersey auto dealer was charged with allegedly defrauding $2 million from more than 140 Russian citizens who were customers of his auto sales business. Sergey Kapustin, owner and president of Global Auto Group, Effect Auto Sales and G Auto Sales in Elizabeth, N.J., had Russian language websites that offered for sale luxury vehicles, including Mercedes and Lexus models priced below market value that could be shipped to Finland for easy delivery to Russian citizens – if they agreed to pay full price up front for the vehicles. Kapustin is Russian and his websites were geared to buyers in Russia, the Ukraine and other former Soviet republics who believed they were getting a “good deal” from a countryman who could be trusted to follow through once the purchase price had been paid. After the buyers wired the full price to one or more bank accounts controlled by Kapustin, he allegedly gave them a litany of excuses for delay in delivery. Allegedly, Kapustin had neither possession of nor title to the vehicles being sold.
Latest Government Issues and Activity
REGULATORY REPORT BY Shaun Petersen
CONSUMER FINANCIAL PROTECTION BUREAU On Dec. 1, the CFPB released its rulemaking agenda through Oct. 19 – before the election. The results of the election could have drastic impact on the agenda. Some of the highlights include: Arbitration rule: The agenda said the CFPB is reviewing and considering comments on its proposed rule banning pre-dispute arbitration agreements with class action waivers and is considering February 2017 as an estimated date for a final rule. Payday, title and deposit advance loans: The CFPB released a proposed rule in June. NIADA filed comments to express our position that the rule did not apply to retail installment contracts for purchase money security interests. Debt collection: In November 2013, the CFPB issued an Advance Notice of Proposed Rulemaking concerning debt collection, about which NIADA filed comments. In
On Dec. 1, the CFPB released its rulemaking agenda through Oct. 19 – before the election.
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At some point, the victim was offered a different, often inferior car, burdened with added shipping and storage costs. The victims often wired additional money in an attempt to rescue the car from storage. Many of the vehicles that did make it to customers were allegedly salvage or flood vehicles. DEPARTMENT OF LABOR Whistleblower rule: OSHA finalized its rule for handling retaliation complaints filed by whistleblowers in the automotive industry, which became effective Dec. 14. In accordance with legislation passed by Congress in 2012, motor vehicle manufacturers, parts suppliers and dealerships are prohibited from retaliating against employees who provide information about motor vehicle defects or violations of safety standards; file, testify or assist in any proceeding concerning alleged motor vehicle defects; or object to or refuse to participate in any activity that person believes is a violation of a safety standard. Retaliation includes firing, reduction in pay or hours, discipline or similar sanctions. Employees who believe they have been subject to retaliation have 180 days from the date of alleged retaliation to submit a complaint to OSHA. OSHA recordkeeping: A final rule that took effect Jan. 18 backs OSHA’s longstanding position that an employer’s duty to record an employee’s injury or illness continues for the full five-year record-retention period. The amendments in the final rule add no new compliance obligations and do not require employers to make records of any injuries or illnesses for which records are not already required.
LEGISLATIVE REPORT BY Sante Esposito
CFPB REFORM Rep. Jeb Hensarling (R-Texas) is talking about including his Financial CHOICE Act in the reconciliation bill Republicans are considering using to repeal Obamacare and introduce tax reform. Hensarling’s bill would rein in the CFPB’s authority by, among other provisions, making the bureau subject to the annual Congressional appropriations process, replacing its single director with a fivemember commission, requiring it to obtain permission before collecting personally identifiable consumer information and limiting its authority to prohibit consumer financial services or products it deems “abusive” and to prohibit the use of arbitration agreements. With the new Congress in session, all of the bills and the bills not enacted by the previous Congress have “died” and must be re-introduced – including a House-passed bill that would rescind the CFPB’s controversial 2013 auto financing guidance and specify a more transparent and accountable process. That bill’s language is included in the Financial CHOICE Act.
www.iiada.com
ASSOCIATION NEWS
ASSOCIATION NEWS
INDUSTRY NEWS BY USED CAR NEWS
NIADA SCHOLARSHIP NOMINATE A DEALER - GWC APPLICATIONS QUALITY DEALER DONATES AVAILABLE OF THE YEAR TOYS Deadline Quickly Approaching Benefitted Families of Applications are now available for the NIADA Foundation’s annual college scholarships for the 2017-18 academic year. The foundation, with assistance from Manheim, will award four $3,500 regional scholarships – one in each of NIADA’s geographic regions – to graduating high school seniors who have maintained an excellent academic record and have demonstrated an aptitude for college work as measured by SAT or ACT scores. In addition, a $10,000 national scholarship, sponsored by Manheim, is awarded to a student who is or will be attending Northwood University. Applications for the NIADA/Manheim Regional Scholarships and the NIADA/Manheim National Scholarship must be postmarked no later than March 17 to be considered. If you know a young person who will be graduating this spring and has a success story to share, please encourage him or her to apply for an NIADA Foundation scholarship. The regional scholarship application may be downloaded at www.niada.com. Information on the national scholarship to Northwood is available through the Northwood University financial aid office at 989-837-4230.
www.iiada.com
Hospitalized Children
Application Deadline: July 1, 2017
Applications are now being accepted for Indiana’s 2017 Quality Dealer of the Year. The winner will represent Indiana at the NIADA 2018 Convention and compete for the coveted NIADA Quality Dealer of the Year award. The public recognition and prestige associated with this award will produce many benefits for your dealership. Our 2017 Indiana Quality Dealer of the Year will be named and recognized at our 30th Anniversary Golf Tournament and Awards Day on August 27. Eligibility: Dealers must be nominated by an IIADA member or sponsor. To request an application: Email iiada@ comcast.net or call 219.661.0287. The application deadline is July 1.
GWC Warranty recently completed a toy drive to benefit the annual toy shop at Geisinger Health System’s Janet Weis Children’s Hospital in Pennsylvania. Thanks to toy and monetary donations from GWC Warranty employees across the country, on Dec.13, GWC donated hundreds of toys and more than $1,000 to help families of hospitalized children shop for holiday gifts. The toy drive donation caps off a charitable year for GWC Warranty in which employees contributed to a Christmas in July Food Drive sponsored by the United Way of Wyoming Valley and a school supply drive to benefit Wilkes-Barre’s St. Vincent de Paul Kitchen. The company also sponsored two trucks as part of the Commission on Economic Opportunity’s Food 4 Kids Summer Program, which supplies summertime meals for children who do not receive the same nutritional support that they do during the school year.
February 2017 / CAR LINES
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REGULATORY UPDATE
INDIANA BUREAU OF MOTOR VEHICLES UPDATE Registration Time and Penalty Fee
Operating Prior to Registration Time Increased Effective January 1, the length of time one can drive a newly purchased vehicle on Indiana roadways without registering the vehicle has been increased from 30 to 45 days. Details are below: • For not more than 45 days after the date on which the person acquires the vehicle, a person who purchases a vehicle may display on the newly acquired vehicle a valid and unexpired license plate transferred from another vehicle that the person disposes of by sale or other means. While operating the newly acquired vehicle, the person must have in their possession a manufacturer’s certificate of origin, certificate of title, or a bill of sale. • For not more than 45 days after the date on which the person acquires the vehicle
from a licensed dealer, the person may display on the newly acquired vehicle a valid and unexpired temporary license plate that was issued by the licensed dealer. The law differs when a vehicle is purchased from a private citizen instead of a dealership: • A person who purchases a vehicle from a non-dealer may operate the vehicle for not more than 72 hours after the date of acquisition, but only for the sole purpose of transporting the vehicle by the most direct route from the place of acquisition to: • A place of storage, including the person’s residence or place of business. • An inspection station for purposes of emissions testing. • A BMV license branch or full or partial service provider to register the vehicle. • While operating the vehicle, the person must have in their possession a certificate of title indicating the person owns the vehicle. Administrative Penalty for Registrations As of January 1 the Delinquent Fee will now be called Administrative Penalty. This applies to registering vehicles, off-road
vehicles and snowmobiles. The amount of the administrative penalty is changing. Indiana residents will be assessed an administrative penalty when registering a vehicle, ORV, or snowmobile more than 45 days after the date of purchase/acquisition. Non-residents of Indiana will be assessed an administrative penalty when registering a vehicle, ORV or snowmobile more than 60 days after becoming an Indiana resident. Administrative penalty rules related to titles were effective July 1, 2016. (Note: All above information is provided for overview purposes only and is not a substitute for Indiana Motor Vehicle Laws. For details refer to Indiana Code-Title 9.)
MANAGEMENT MATTERS BY CHRIS KAHRS
BUILDING YOUR BENCH STRENGTH
Create Future Leaders Ready to Step In
Addressing personnel changes and challenges can occasion lengthy conversations. I’d say that the most often asked question is, “Where do I find my next manager?” As dealerships continue to experience rapid turnover and acquisitions – and promote good employees into management – many organizations struggle to find replacements for vacancies. Prepare for the unavoidable. It’s generally when they’ve lost an employee that dealers realize they have no one in their organization to assume that
particular role. Dealers are forced to search outside their organizations for a candidate who shares their business’ values, culture, work ethic and vision. This hunt can be exhaustive, and the process is disruptive to the daily operations of the organization. Why your team is critical. To use a sports analogy, each team has its starters suited up and ready to go for each game. When one of those starters gets hurt, a “bench player” is the next man up to assume that role. That bench player has been preparing for a scenario like this and is ready to perform. Yet in a lot of automotive organizations, there isn’t a bench player who has been coached to assume the role of the starter should there be the need. How to create a strong bench. Weak bench strength is a problem for a number of reasons. First, it means you must spend time and money to find an outside replacement. And, more important, that unnoticed bench player is likely to leave. I honestly believe one the greatest threats to
your dealership is for an overlooked bench player – one who is not being groomed for advancement – to leave. And they will. Sensing the lack of opportunity, individuals like this will typically depart for greener pastures should they have the opportunity, thus leaving your organization searching for yet another replacement. Here are my suggestions to improve your bench strength: • Train and educate from the top down to develop future organizational leaders. • Cross train for diversity. • Create peer-leader relationships. • Create a career path with clear and defined advancement opportunities. • Train, coach, motivate and encourage personal development. Filing managerial vacancies can be challenging for many organizations. However, you may already have an individual eager and ready to perform if given the opportunity. By building your bench, you can create future leaders from within your organization. Work on developing one to strengthen your overall talent pool. Chris Kahrs brings more than 17 years of experience to NCM, with extensive expertise in multi-facility management and dealer operations. This article originally appeared on NCM’s Up to Speed blog (blog. ncminstitute.com) and is reprinted with permission.
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MANAGEMENT MATTERS BY ALISHA STEWART
EMBRACING THE #HASHTAG GENERATION
How to Retain Talented Millennials in the Workplace
CHART
YOUR COURSE
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Millennials get a bad rap. We’re called loud and opinionated, lazy and entitled… the list goes on. And employers seem wary of hiring us, especially given reports about our low loyalty, making it hard to find the right job. As a millennial employee, I have experienced the backlash of these assumptions, but I think a lot of our negative press misses the point: Our opinions may challenge your dealership, but we want to bring our passion for change and innovation to the workplace! And it’s going to happen. The truth is that we are the future of business, and by 2020 millennials will make up 50 percent of the world’s workforce. Here are a few suggestions to help your dealership retain your talented millennial employees and embrace the cutting-edge ideas that they bring with them. Pay us fairly and give us room to grow. Fair pay and growth opportunities are paramount to the retention of millennials. As a group, we expect to progress in your company – and achieve leadership roles – faster than Gen X or older groups. When we don’t achieve this, we leave. A business’s failure to offer advancement results in costly and constant turnover. While it may seem easy to take the cheaper route, there are many employers out there who will provide fair compensation and a clear career path, and millennials are eager to find them. Embrace social media in all aspects of business. We all know millennials live their lives
online. Whether you’re looking to hire or looking to engage, I can’t stress enough the use of online tools that are available to you, and 99 percent of them are free! Let your employees write for the company newsletter or blog. Use LinkedIn and Indeed to recruit talent. Post employee recognition or business events on Twitter, Facebook, and Instagram. Other ideas include purchasing a custom Snapchat filter for company parties and hosting a weekly vlog on YouTube. The options are truly endless, and they all help your millennial employee feel engaged with your dealership! Allow us to use our voice. I’d say millennials have a deep desire or, more appropriately, a need to let our voice be heard and share our views. Why do you think we’re so active on social media? A few ways to encourage that: • Give us opportunities to lead in roles that bring active change to the company, such as seats on committees and inclusion in forums. • Listen to us and be open to ideas! Just because something has been done a certain way for an extended amount of time does not mean it is the most effective or efficient way to keep doing things. Use our creativity to advance your business. • Allow us to be creative by embracing technology. • Let us be involved. Here at NCM, we have an Ownership Culture Committee that not only plans social events for the company but also participates in charity and giving back. Believe it or not, millennials do care about things bigger than themselves. Allowing them to give back and get involved will reap huge rewards in employee morale and culture. Alisha Stewart began her career at NCM Associates in September 2015. She graduated from California Baptist University in 2010 with a Bachelor of Arts degree in Communications and Public Relations. This article originally appeared on NCM’s Up to Speed blog (blog.ncminstitute.com) and is reprinted with permission.
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ACCELERATE
BY GWC WARRANTY
WHEN GOOD RECON GOES BAD Solve Your Recon Woes
Few things can be more of a headache for used car dealers than the reconditioning process. Far too often, it can lead to delays, forfeited front-end gross, poor relationships within your dealership and other consequences that ultimately hurt the overall bottom line. It sounds simple enough: Acquire vehicle. Prepare vehicle. Sell vehicle. So how can something so simple cause so many problems? It’s when good recon goes bad. You can solve your recon woes, however, by making small tweaks to your dealership that will have a tangible payout at the end. It’s all about culture. Too many times you hear stories of the back and forth between those acquiring the inventory and those getting it ready to go on the lot. Good recon starts when everyone stops pointing fingers. Cultivate a culture of collaboration. If you’re acquiring inventory, ask your service team what you should look for in a vehicle at
auction. If you’re getting a vehicle frontline ready, ask about deadlines and find out why a specific turn time is so important. Don’t get overconfident. If you’re estimating how long it will take to recondition a vehicle, be honest with yourself. Time is money, and you can’t accurately appraise and price your vehicle if you’re building in five days of holding costs when it will really take 10. Having a trusting and cooperative culture will help everyone feel comfortable enough to be transparent with these types of details. Know the dollars and cents. It’s estimated that holding costs can range from $30 to $50 dollars per day. Take the average figure from that range ($40 per day) and do the math for what you spend regularly on reconditioning costs. At an average of six recon days for 40 vehicles a month, you’re looking at $9,600 per month in holding costs alone. At that rate, that’s over $115,000 per year. You can even think of this on a per vehicle basis. At that same holding cost, a vehicle that takes five extra days to recondition cuts a $3,000 gross profit into a $2,800 gross profit – all this without even factoring in the actual parts and labor costs of the reconditioning itself. Knowing these numbers will help everyone in the dealership be accountable for their role in reconditioning.
Communicate. It sounds simple, but so many reconditioning processes go bad when management, sales and service simply aren’t on the same page. Things like repair approval delays and misplaced vehicles can add days to the reconditioning process (see above for how much that costs you). Getting all your departments on the same page can help in this process. It can be as simple as creating a spreadsheet that tracks each vehicle’s progress. This way, you’ll be able to see where delays happen and quickly get your reconditioning back on the rails.
better-known) of these systems, several other automakers offer an impressive look at the future, including Volvo’s Pilot Assist system. Formerly only seen on ultra-high-end sports cars, adaptive suspension is making its way into other models, allowing you to custom tailor your car’s suspension based on the experience you want to have, with modes like “comfort” and “sport.” For drivers who often find themselves critiquing a car’s ride, or for those who spend a lot of time on rough roads or driving tight corners, the ability to change your driving experience with the push of a button can be well worth the cost. Many new vehicles now offer a suite of autonomous safety tech, including lane keep assist, automatic forward collision braking and adaptive cruise control - and the great news is that these systems are getting more affordable and are no longer only reserved for pricey luxury cars. Affordable new compact models like Honda Civic, Hyundai Elantra and Mazda Mazda3 all feature impressive autonomous safety tech features. Say goodbye to the little sticker on the corner of your windshield that reminds you of your next oil change - now many cars deliver this information and more in a handy app, making it easier to keep track of everything. Some automakers like Hyundai even have the Hyundai Assurance Car Care
App, which not only tells you when your vehicle needs its next service, but it can even schedule it for you. Gesture control is the wave of the automotive future. It allows you to control various features of your vehicle using gestures instead of pressing a button, touching a screen or using voice commands. Currently BMW is the only automaker to offer this feature (and only on its high-end 7 Series), but expect this to reach more vehicles in the coming years. Huge screens seem to be replacing many gauges and buttons in the cockpit of new cars, operating similarly to a smartphone with ultra-sensitive touch and the ability for details to be reconfigured. While some may worry about the future reliability of such screens in lieu of simple buttons, experts praise the more clean presentation and easier-to-use infotainment systems versus former complex controls or tiny buttons. Electric drivetrain technology is now becoming more widespread and delivers not only the obvious fuel-economy benefit, but also performance benefits. Modern exotic sports cars like the Acura NSX, BMW i8, Porsche 918 Spyder and LaFerrari all feature electric drivetrains. For everyday drivers, features ranging from fully electric to plugin gas/electric hybrids mean several options for the driving masses.
MARKET WATCH BY USED CAR NEWS
AUTOTRADER NAMES TOP TECH
Trending Auto Technology
With new automotive technology constantly emerging and 2017 model-year vehicles now flooding dealer lots, the editors at Autotrader recently named their Must-Have Automotive Technology for 2017. Automakers like Mercedes-Benz, Tesla and Volvo are rolling out self-driving systems that can put many autonomous features together in one advanced package, appealing to even the most die-hard auto enthusiasts, especially when it comes to the more boring parts of driving like commutes or long highway trips. While Tesla’s Autopilot may currently be among the most advanced (and
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REGULATORY UPDATE BY AUTOMOTIVE NEWS
U.S. PROPOSES V2V MANDATE TO AVERT CRASHES Technology has Significant Safety Potential
U.S. auto safety regulators proposed requiring all new vehicles to be equipped with vehicle-to-vehicle communication systems, citing the technology’s significant potential to reduce crashes. The proposed mandate, recently released by the Department of Transportation, would require all new cars and light trucks to have dedicated short-range communication systems that transmit and receive basic messages about the vehicles’ speed, location, braking and other data. DSRC systems allow cars to “talk” to other vehicles on the road and to infrastructure equipped with the systems, allowing drivers to “see” around corners and be warned of a potential crash. “This technology has enormous safety potential to prevent hundreds of thousands of crashes and save lives,” transportation secretary Anthony Foxx said. Under the proposal, automakers would be
required to equip half of all new cars with the technology two years after the National Highway Traffic Safety Administration issues a final rule. Full penetration would be required within four years after the rule is final. U.S. officials have said the technology could potentially reduce non-impaired traffic crashes by 80 percent once fully deployed. Regulators signaled their intent to mandate V2V systems in August 2014. Under this most recent proposal, the DSRC systems would be required to use a common set of communications protocols to ensure all vehicles “speak the same language,” the DOT said. The proposal also contemplates the technology working alongside crash avoidance technologies like automatic emergency braking to help prevent collisions. The proposed rule also has privacy and security requirements, including 128-bit encryption on vehicle data transmissions. In addition, the department said it plans to soon issue guidance on vehicle-toinfrastructure communications. Saving Lives Last year, there were 6.3 million U.S. vehicle crashes. In October, NHTSA said U.S. traffic deaths jumped 10.4 percent in the first six months of 2016. The jump followed a spike in 2015, when road deaths rose 7.2 percent to 35,092, the highest full-year increase since 1966.
The rule would not require vehicles currently on U.S. roads to be retrofitted with the technology. Foxx said owners couldn’t turn off the technology but could turn off warnings. The Alliance of Automobile Manufacturers, a trade group representing General Motors, Toyota Motor Corp., Volkswagen AG and other major automakers, noted the system is already being tested. The group said it would study the proposal. Automakers are pushing to ensure that a portion of the spectrum reserved for connected vehicles is not used by other companies for other wireless device use. The U.S. Federal Communication Commission has begun testing potential sharing options. Separately, the Federal Highway Administration plans to issue guidance for vehicle-to-infrastructure communications, which will help planners allow vehicles to “talk” to roadway infrastructure such as traffic lights. Reuters contributed to this report.
SAFETY WATCH
FORD RECALLS SEDANS FOR SEAT BELTS May Fail to Properly Restrain
Ford Motor Co. is recalling 603,392 model year 2013-16 Ford Fusion vehicles manufactured Nov. 2, 2012, to July 31, 2014, and 2013-15 Lincoln MKZ vehicles manufactured Nov. 14, 2012, to July 31, 2014. In the event of a crash, heat from the deployment of a seat belt pretensioner may cause a front seat belt anchor cable to fail. If the driver or front passenger seatbelt cables cannot properly restrain the front seat occupants, they would be at an increased risk of injury. Ford will notify owners, and dealers will apply a protective coating to the seat belt cable, free of charge. Remedy parts are expected to be available by the second quarter of 2017. Ford’s number for this recall is 16S42.
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ACCELERATE
BY GWC WARRANTY
4 INVENTORY SOURCES YOU MAY NOT BE PROFITING FROM Explore the Possibilities
All the talk about gross profits, reconditioning costs and turn times is dependent on the inventory you acquire. You attend auctions. But so does every other dealer you’re competing against. To step out from the rest and inject new profitability into your dealership, you could explore new inventory sources you haven’t tried before. It may be difficult at first and there may be some growing pains, but the payoff could be worth your while. Trade-Ins Most buyers will have them, but do you have a strategy for trades? By knowing what inventory brings you the highest gross and turns the fastest, you can build a simple game plan. Look to wholesale cars that might sit on your lot, and only hang on to the ones you know will move quickly and for a higher cost. But first, you have to go back and do your homework to see what has worked for you in the past.
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New Online Sources Yes, this may be scary if you’ve never tried it, but it won’t be long before one of your competitors takes the plunge into the online market. Some dealers are starting to stray from the traditional auction by experimenting with services for consumers and manufacturers to post cars for sale online. Once you get a feel for the services and sellers you can trust, this new inventory source could be a major advantage in your market. Network with Other Dealers This can be effective with dealers both in your market and elsewhere. Different cars sell better for different dealers. It could be a matter of financing options or VSC coverage or simply geography and demographics. Know what sells for you and what sells for your friends in the business. You can potentially offload trades that won’t perform to your liking and acquire inventory you can sell more quickly and for a higher premium than the dealer who currently has it. Factory Off-Lease Programs Looking for low-mileage, wellmaintained, popular vehicles? Checking into factory off-lease programs could be just the business boost you need. Investigating this inventory source could change the way your inventory looks, attract new clientele and create new channels of business for your dealership.
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ASSOCIATE MEMBERS
IIADA Associate Membership is available to automotive related businesses. Please call 800-310-3112 for more information on Associate Memberships. 700 Credit
Ann Carson 202.422.2351 aclarkA@700credit.com www.700credit.com
AFC
Brendon Billups 2950 E. Main St. Plainfield, IN 46168 317.431.5685 Brendon.billups@autofinance.com
Ally-Smart Auction
Jeff Kubicki 317.650.0331 jeffrey.kubicki@ally.com www.smartauction.biz
Alpha Omega Group Brad LeBlanc 513.317.9861 brad@aogllc.com
Ashton Agency Inc.
Dealer Insurance, Bonds Kathy Alexander 407.678.5900 kalexander@ashtonagency.com
ASC Warranty Susan Williams/ Clayton Morgan 800-442-7116
Diversified Vehicle Services
Glenna Deviers 317.862.9100 www.diversifiedvehicleservices.com
Drive1 USA, Inc.
Bruce Norton 1512 W. 96th Ave., Ste. C Crown Point, IN 46307 Phone: 219.670.0542 Email: Bnorton@drive1usa.com
Donn Wray, Attorney at Law Bamberger, Foreman, Oswald & Hahn, LLP Phone: 317-464-1591 dwray@bambeger.com
Envirotest Titling & Registration Kevin Lewis 1445 Brookville Way Suite G Indianapolis, IN 46239 317.322.0020 www.etrindiana.com
Envirotest Titling & Registration Kevin Lewis 1111 S. Green River Rd. Suite 100 Evansville, IN 47715 812.909.0116 www.etrindiana.com
Envirotest Titling & Registration
AutoZone
Gerry Sutter gerald.sutter@autozone.com 440.263.3389
Black Book National Auto Research Larry Knapp lknapp@blackbookusa.com 800.554.1026
Cars.com
175 W. Jackson Blvd., 8th Fl. Chicago, IL 60604 800-298-1460 dealers.cars.com
Jennifer Kharchaf 1171 Breuckman Dr., Ste. B Crown Point, IN 46307 219.661.8220 www.etrindiana.com
Frazer Computing Inc.
6196 US Hwy 11, P O Box 569 Canton, NY 13617 888.963.5369 www.frazer.com
Freedom Warranty
John Skelton 423.207.1333 www.freedomwarranty.com
GWC Warranty
Carmie Fruits - Indiana Dealer
Consolidated Automotive Services Consultant Chris Walsh 812.988.8300 www.consolidated autoservices.com
Custom Facilities
317.259.0038 lcolle@cfidm.com BuildMyDealership.com
CVR-Computerized Vehicle Registration
Ron Zimmerman 317.522.6256 Fax: 866.231.4996 rzimmerman@cvrreg.com
Dealertrack
Diane Zewalk 115 Pohesanut Dr., Ste. 201 Groton, CT 06340 860-448-3177 Fax: 860-448-3187
Dealer Funding
Curt Massey 770.883.3883 cwm@dealerfunding.com www.dealerfunding.com
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PO Box 7900 Wilkes-Barre, PA 18773 317-374-6271 cfruits@gwcwarranty.com www.gwcwarranty.com
HBK CPAs & Consultant Rex Collins 330.758.8613 rcollins@hbkcpa.com
Insurance Professionals-Dealer Specialists Mike Lee 8509 Zephyr Dr. Indianapolis, IN 46217 317-432-1092 Fax: 317-300-0501 teamallenc21@comcast.net
Insurance Professionals of New Palestine
Mitch Fidler Network Benefits of Mid America 35 W. Main St. P.O. Box 467 New Palestine, IN 46163 Office: 317-861-4411 800-688-7988 Cell: 317-750-3032
Keystone Insurers Group
Lori Simpson 570.473.2146 lsimpson@keystoneinsgrp.com
Lincolnway Insurance Services Greg St. Germain 336 E. Lincoln Hwy. Schererville, IN 46375 219-865-2227 gregg@lincolnwayinsurance.com
Teipen, Selanders, Poynter & Ayres, P.C.
Certified Public Accountants Barnett Sapurstein, CPA 317.598.6700 bsapurstein@teipencpa.com
Turner Acceptance
Jonathon Levin Phone: 773.290.5007 turneracceptance.com
National Auto Auction Association Universal Publications Frank Hackett 301.696.0400 naa@naa.com
Nationwide Cassel LLC 773.777.7600 www.nac-loans.com
NextGear Capital
Lori Kahre 1320 City Center Drive Suite 100 Carmel, IN 46033 Phone: 317.571.3845 www.nextgearcapital.com
PO Box 628 Plainfield, IN 46168 317.203.5118 publicationsinc.universal@ yahoo.com
Verifacto, Inc.
Enrique Castiblanco info@verifacto.com 678.916.8311
Penn Warranty Corporation
Jude Tuma/Michael Roe 1081 Hanover St. Wilkes Barre, PA 18706 800-356-9441 michael.roe@pennwarrantycorp.com www.pennwarrantycorp.com
Preferred Warranties, Inc.
Gregg Reidenbach/Guy Loeffler 800-548-1121 info@warrantys.com www.warrantys.com
Professional Financial Services Matt Reece Phone: 864.237.6090 Matt.Reece@pfs-corp.net Nat Rieder Nat.Rieder@pfs-corp.net Phone: 614.935.9808
Regulation and Revenue LLC Myles Stevenson 502.387.5485 myles@reponotice.com
Reliable Auto Finance
Lester Dean PO Box 9700 Wyoming, Michigan 49509 616.438.3591 Fax: 616-245-5978 lesterd@reliableautofinance.com
Somerset CPAs
Jane Saxon, CPA 3925 River Crossing Pkwy. Indianapolis, IN 46240 317.472.2183 jsaxon@somersetcpas.com
SPIREON
Dave Boekholder 800.557.1449 dboekholder@spireon.com
Strategic Consulting Services Jeff Bond 317.363.6458 jeff@scspro.net
February 2017 / CAR LINES
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MEMBER BENEFITS
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For $295 You Get Membership In Both IIADA and NIADA Plus All Of The Following Benefits And Even More That Are Not Listed! Programs for Extra Profit
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SUPPORT IIADA! We are your voice in Indianapolis.
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Indiana Independent Automobile Dealers Association
MEMBERSHIP APPLICATION The IIADA Has the Independent Auto Dealer Covered! Phone: (219) 661-0287 • Fax: (219)663-5294 iiada@comcast.net
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GENERAL INFORMATION Dealership Name ____________________________________ Dealer Lic#_______________ Mail Address ________________________________________________________________ County _____________________________________________________________________ City/State/Zip________________________________________________________________ Phone _____________________________________________Fax ______________________ E-mail_______________________________________________________________________ Website_____________________________________________________________________ Owners (Please Print) _________________________________________________________ Recommended By _____________________________________________________________
PAYMENT INFORMATION oCheck oVisa oMasterCard Credit Card Number: _____________________________________Expiration Date: ________ Signature: _____________________________________________________________________________
Please include your email address, phone and fax numbers so that we can easily communicate with you. Membership dues are $295 for 12 months from the date you join, and your National lADA dues are included. Please send application and check or credit card information to: IIADA, PO Box 1393, Crown Point, IN
This is our personal invitation to you to join the State and National Independent Automobile Dealers Professional Associations It is important to me to be recognized as a professional! Enclosed are my annual dues of $295 to make sure that my business has all the advantages IIADA/NIADA Inc., provides to put me at the forefront of my profession. By completing this form, I agree to abide by the Code of Ethics. Also, I am consenting to and giving IIADA/NIADA Inc., its affiliates and subsidiaries, my permission to (until I give written notice to discontinue) contact me and provide information to me at the mailing and email addresses, telephone and fax number(s) I have provided.
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SALES MATTERS BY JOHN CHAPIN
ONE KEY FACTOR IN SALES SUCCESS OR FAILURE Tips for Success
While one could argue there are many factors determining sales success or failure, I find that 99 percent of the time, success or failure really comes down to one item. If you have this one item in place, success is virtually guaranteed. If you don’t, failure is virtually guaranteed. THE KEY SUCCESS FACTOR AND HOW TO ENSURE IT EXISTS AND THRIVES IN YOUR SALES PLAN We all know you need the basics: product knowledge, the ability to get in the door of qualified prospects, get attention, solve problems, get agreements, answer objections, present, close, and follow through, among other things. We also know your primary job is to produce… to sell. Other equally relevant truths that relate more closely to the key success factor are: • Sales is a numbers game. The more people you talk to the more business you’ll do. • The harder you work, the luckier you get. • The more calls you make, the faster you figure it out. • And, production cures all that ails you, or, as my dad used to say, “You could be in the middle of your worst sales slump ever… down, depressed, and hopeless and yet, if you simply found an order on the ground, one you had absolutely nothing to do with closing, but it was a good order that counted toward your quota, you’d instantly be back on top of the world.” That said, the one item that determines success or failure more than anything else is your activity level. Specifically, making the calls necessary to make the contacts, get the qualified prospects, and make sales necessary to exceed your quota. Every time I’ve seen someone fail in sales, it’s because they didn’t make enough calls to talk to enough qualified prospects. Every time. While I suppose there could be some other factor for failure, it would be the miniscule exception. One hundred percent of the time in my experience, I’ve been able to tie failure back to a lack of activity. Here are some tips to ensure you have the proper amount of activity in your sales day. Know your numbers. You have to have annual, monthly, and weekly goals and break those down to the daily activity necessary to make them happen. If you’re going to make $250,000, and each sale is worth $5,000, you need to make 50 sales, or roughly one per week. Based upon 50 sales, how many proposals
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do you need to get out, how many people do you need to talk to, and how many calls do you have to make every day? You have to exceed your numbers. Once you know your numbers, you need to exceed them. We tend to underestimate the amount of time, effort, energy, money and, in this case, number of calls it will take to achieve a goal. As a result, increase your daily number by at least 20 percent. So if the number you came up with above is 50 calls a day, increase that to 60. You have to hit your numbers every day no matter what. Your most important task every day is to hit your numbers. Period. It is always more important than anything else you do. I’ve seen top salespeople make calls from airplanes, hospitals, police stations, and almost anywhere else you can imagine. I’ve also seen them make calls at night, on weekends, during holidays, and at all other times imaginable. Be consistent. Consistency keeps you sharp, builds the habit of making the calls, and keeps you in a good frame of mind. If your goal is 300 calls for the week, Monday through Friday, and you try to squeeze those calls into two or three days, you’ll become overwhelmed and you’ll have difficulty building the self-discipline that comes with daily, consistent action. Also, if you aren’t making calls every work day, your calls will have some rust on them. In other words, when you are doing anything other than making calls, your brain slowly starts to forget what to say and how to react to situations that arise during calls. So if you only make calls on two days during the week, there is a lot of time for your brain to start to “forget,” making you far less sharp and effective. One of the best ways to be consistent is to time block the same hours every day to prospect. Have someone hold you accountable. While you ultimately have to hold yourself accountable, it’s a good idea to also have someone else hold you accountable to your daily numbers. Preferably it’s your boss or manager, but it can really be anyone who you’ll feel enough pressure reporting to. Keep getting better. Read, watch, and listen to information and use that information to make your calls more efficient and effective. Use the phone and in-person calls to reach out to prospects. If you think email or social media is just as effective as a phone call or in-person visit for reaching out to prospects, you’re delusional. When you are attempting to do business with people, you have to call or visit in-person first. You can send an email, physical mail, LinkedIn request, or something else afterwards, but never as an initial contact to determine if they may be a qualified prospect. First, you can’t even be sure they got the email or social media message, and second, it’s weak and says you don’t have the
While you ultimately have to hold yourself accountable, it’s a good idea to also have someone else hold you accountable to your daily numbers. confidence in yourself or your product to have a live interaction. If you’re looking for a way to avoid the hard work of making live calls, stop it! Pick up the phone and/or get in the car and go talk to people. Lots of people. If you make the calls necessary to fill your pipeline with tons of qualified prospects, everything else will take care of itself. John Chapin is a sales and motivational speaker and trainer. He has over 27 years of sales experience as a number one sales rep and is the author of the 2010 sales book of the year: Sales Encyclopedia. For more information, visit www.completeselling.com or email johnchapin@completeselling.com.
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