ENJOY THIS COMPLIMENTARY ISSUE - Learn more about becoming a member on page 10! - The 2021 Guide to FIADA Member Auctions is
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
ENJOY THIS
COMPLIMENTARY
ISSUE
Learn more about
becoming a member
on page 10!
The 2021 Guide to FIADA Member Auctions is
here. View the diretory on PAGE 15
OCTOBER 2021
ALER | 1
O C T O B E R 2 0 2 1 | I N D E P E N D E N T D Ewww.FIADA.com
NOW IS THE
TIME
TO EARN YOU
R
CE CREDIT
GET READY TO
LEARN CE SEASON IS RIGHT AROUND THE CORNER.
Make good use of your downtime to learn about your business and get your CE
WAYS TO LEARN AND EARN:
ON-DEMAND ONLINE IN-PERSON LIVE OVER ZOOM
Free for FIADA Members $79 for FIADA Members $10 for FIADA Members
$39.95 Non-Members $99 for non-members $59.95 for non-members
MORE EDUCATIONAL OPPORTUNITIES:
FIADA offers other education opportunities to help you grow your business. Choose from a
long list of live or recorded webinars, an online Title & Registration course, in-person events
like Town Hall meetings and the Annual Convention or spend a few minutes on our YouTube
channel. Go online to FIADA.com and explore the Education tab to learn more.
REGISTER ONLINE AT FIADA.COM
Register for CE Courses, print out certificates and view the class schedule at FIADA.com/ContinuingEducation.
OCTOBER 2021 | CONTENTS
For members of the Florida Independent Automobile Dealers Association
FEATU RES
10 | FIADA-The Future Rides on Us!
MAILING ADDRESS 1840 Fiddler Court
Tallahassee, FL 32308 Do you ever wonder what the FIADA actually is? Let us explain
TELEPHONE (850) 385-2712 it to you and why membership is important.
(800) 237-0448
FAX (850) 385-3251 15 | 2021 Auction Directory
WEBSITE www.FIADA.com A complete guide to all the FIADA member auctions including
EXECUTIVE COMMITTEE GMs, locations and sale times.
Chris Ellis
Luis Giraldo
President
Senior Vice President 20 | 6 Tips to Win Your Next Dealer Auction
Jason March Chairman of the Board Auctions are exciting and sometimes it can be easy to get
Dexter Beard Treasurer caught up in the emotion. Have a plan and stick to it to be a
John Giasullo Secretary real winner.
Ejola Cook Regional Vice President
Michael Fernandez Regional Vice President 28 | Decisions Looming
Brad Joel Regional Vice President
If you are struggling with marketing, maybe its time to
Leigh Anne Thompson Regional Vice President
Jim Winterick, Sr Regional Vice President
consider a marketing director, or at least asking the right
questions.
FIADA STAFF
Lisette Mariner, CAE Executive Director
Terry Myers Director of Development
DEPA RT MEN T S
& Education
4 President’s Message 14 Membership News
Julia Rooney Membership Manager
Christopher Ellis 24 HR Advisor
Savannah Calhoun Administrative Assistant
6 Executive Director’s
Christy Taylor Editorial/Advertising 25 PAC Contributors
Message
Lisette Mariner, CAE 26 Legal & Legislative News
POSTMASTER:
Send address changes to 8 Back to Basics Eric Johnson
FIADA • 1840 Fiddler Court Terry Myers 30 Industry News
Tallahassee, FL 32308
(850) 385-2712 • Call/Text: (800) 237-0448
Fax (850) 385-3251 • www.FIADA.com Mark your calendar for the next episode
of The Dealer Money Hour Webinar.
The Independent Dealer is a publication of:
Attendance is FREE to FIADA members
Florida Independent Automobile ($10 to non-members).
Dealers Association
1840 Fiddler Court Wednesday, November 17, 2021 | 1pm
Tallahassee, FL 32308
Understanding and Implementing the Anti-terrorist Rule,
The magazine is published every month in Safeguards Rule, Red-Flags Rule, and the $10,000+ Cash
Tallahassee and distributed to Florida new, reporting Rule among many others
used, wholesale and lease/retail car dealers.
Advertising rates are available upon request. Guest Adam Crowell, Attorney with ComplyNet
The statements and opinions expressed
herein are those of the individual authors Wednesday, December 15, 2021 | 1pm
and do not necessarily represent the views Digital Marketing & Branding Secrets That Work
of Independent Dealer or the Association.
Likewise, the appearance of advertisers, or
Guest Natalie Dunlop, Senior V.P. with CloudMellow
their identification as members of FIADA,
does not constitute an endorsement of the REGISTER ONLINE NOW AT FIADA.COM/WEBINARS
products or services featured.
OCTOBER 2021 | INDEPENDENT DEALER | 3
PRESIDENT’S MESSAGE
FIADA + Advocacy
Membership and involvement equals success in Tallahassee. | BY CHRISTOPHER ELLIS
It's nearly November and even They really want our opinions on how new laws and
though there aren't any elections to watch or polls to regulations will impact the way we do business. We
predict this year, it's a good time to think about the actually all want the same thing in this respect. If we
legislative process, how it all works and what our role are successful car dealers, then in turn the state of
Florida is successful. So, it makes sense that instead
is in it.
of being "out to get us," they actually want to create
an environment where our business can prosper.
No doubt, our country has become politically
divided over the past decade or more. Like it or not,
Advocacy is also about being proactive. FIADA's
everyone has an agenda. It's easy to feel frustrated
Legislative Committee has the authority and duty
and give up. What's more challenging is listening and
of reviewing the progress of legislation at the state
not giving in.
level, making recommendations regarding legislative
issues and keeping the FIADA Executive Committee
We speak a lot about advocacy at FIADA, but what
(and members) informed on all legislative matters
does that mean? First, we are organized. As a FIADA
affecting the independent automobile dealer industry
member you not only enjoy exclusive benefits and
and FIADA. The dealers who volunteer their time on
services, but you get counted in the eyes of the
the Legislative Committee are super smart and very
lawmakers in Tallahassee. When we speak on the
committed to you. Many of the members have served
issues that affect us to the people at the Capitol, they
on the committee for years and have a thorough
listen because we are a focused group with the same
knowledge of where the focus of the Legislature has
message. The more members we have, the louder our
been and a good sense of where it's going. We have
voice is heard. There are 11,000+ licensed dealers
the added benefit of working with our own Lobbyist,
in the state of Florida. Unfortunately, not
Sandra Mortham, who has been an integral part of
all of you are members. Does it matter? Yes.
our legislative strategy. Between the committee, Ms.
Think about it like voting. Just like every vote
Mortham's guidance and the financial support of
counts, when it comes to advocacy, every
the FIADA PAC, we have been able to get our own
member counts.
legislation sponsored and passed many times over
the years. From battery and tire taxes to the looming
Second, we are educated. Legislators are
threat of manufacturer recalls, FIADA is always
looking at us as the leaders of our industry.
trying to stay a step ahead.
FIADA membership means you are
CHRISTOPHER ELLIS serious about your business and you
One of the benefits of living in this country, and
FIADA PRESIDENT didn't just get a license to be able to
this state, is having the freedom to make your own
go to the auction. You plan on being
choices. It can be a double-edged sword though,
around for awhile and you have a stake in the game.
because with freedom comes responsibility. In a
Again, thinking about it like an election, FIADA
perfect world, every used car dealer in Florida who
members would be considered informed voters and
has a license would be a member of the FIADA. If
that's the kind everybody wants-and are willing to
you are one of the ones who hasn't joined us yet,
listen to. Legislators know as much about how to
would you think about it now? If you appreciate
sell a car as you do about how to make a law. It is
the freedom you have to run your business the way
our responsibility to educate them about what we
you want, then maybe its time to also take on the
do, just like it's important that we learn about what
responsibility of helping us keep it that way.
they do (check out page 6 if you want a refresher).
4 | INDEPENDENT DEALER |OCTOBER 2021
HARNESS THE POWER OF OUR DMS PLATFORM
Monitor Inventory Instant Approvals Prompt Full Spectrum Competitive Aggressive Flexible Local Training
& Sales Process 24/7 ACH Funding Financing Rates Advances Terms Branch Offices & Support
© 2021 Lobel Financial. All rights reserved. Member NIADA.
MANAGE YOUR DEALERSHIP
PAID ADVERTISING
THE PROGRAMS ARE OURS THE BENEFITS ARE YOURS
www.lobelfinancial.com │ 800.871.8051 │ ds@lobelfinancial.com
263087-Lobel Harness the Power7.367x4.811.indd 1 11/5/2020 10:26:46 AM
DEALER DAY at the Capitol
NOVEMBER 3 | TALLAHASSEE CAPITOL BUILDING
An event to lobby at the capitol, advocating for legislation relevant to used car dealers.
R E G I S T E R O N L IN E AT F I A DA .C O M
OR CAL L 8 0 0 . 2 3 7 .0 4 4 8 F O R M O R E D ETA I LS
OCTOBER 2021 | INDEPENDENT DEALER | 5
EXECUTIVE DIRECTOR’S MESSAGE
The Basics of the Legislative Process
How a bill becomes a law and how you can help get it there. | BY LISETTE MARINER, CAE
Remember School House Rock's and Senate, like-minded groups (such as the FIADA) are
“I’m Just a Bill”? That little jingle helped us all helping to educate the committee members and then the
learn in grade school the many steps for a bill Representatives and Senators about the pros and cons of
to become law. I thought it might be helpful to the legislation they are debating or will be voting on.
review this process, since for most of us it's been
a long time since we learned. The Legislative Session is an "all hands on deck" time
for FIADA. Not only do we monitor the progress of any
It all starts with an idea that is introduced by a bills we are working to get passed, but also any bills that
member of the House or Senate. Anyone can potentially could affect dealers or small businesses. Myself,
have an idea, including groups like the FIADA. our Lobbyist and members of the FIADA Legislative
The idea can't get anywhere though unless it is Committee try to educate Legislators on the "whys" or
suggested by a legislator in the form of a bill. "why nots" of the bills we are monitoring through office
Associations like FIADA work with lobbyists to visits, phone calls and emails. We also call on you from
find a Senator(s) and a Representative(s) who time to time to help by calling or emailing your senator or
will introduce it. Because the Legislative Session representative as a constituent who is also a member of the
is only 60 days, most bills are introduced in the FIADA. We send out legislative alerts via email when we
two houses simultaneously. Once introduced need your help with this process and we would like to send
they are referred to a committee by the House a thank you to everyone who answers the call.
Speaker and the Senate President for further
study and consideration. Committees can change I understand how hard it is to get involved with legislative
the bill, accept it, or reject it. If the bill is changed issues, especially when you have a business to run. That is
or accepted by the committee, it can then be why FIADA has made it a priority to stay alert and active
considered by the full Senate or the full House on your behalf. Your membership helps us stay present
of Representatives, which in turn votes in the Legislative process, and your contribution to the
to accept the bill as it is, change the FIADA PAC fund furthers our reach. It's so easy to take
bill, or reject the bill. It is read a first an "out of sight, out of mind" approach to the legislative
time, amended, and then read a second process, but our industry cannot afford to do that. We
time. It is read a third time, members have to stay on top of it all the time. Even though the
debate and then vote on the bill. When 2022 session will not start until January 11, committees
passed, the bill is signed have already started to meet. We will be there from start
into law or vetoed by the to finish looking out for you, keeping you informed and
LISETTE MARINER, CAE Governor. The Legislature
working for the used car dealers of Florida.
EXECUTIVE DIRECTOR may vote to override the
veto, and the bill becomes If you aren't a member of our Association yet, please
law without the Governor’s approval. think about joining. There's a physical application on page
12 of this magazine for all of you who like to do things
With so many steps, a ticking clock and a large "old school." If that's not your thing, you can go anytime
amount of people, involved you can see actually to FIADA.com and click on "Join" or "Become a FIADA
how difficult it is to get legislation passed. Most Member." It costs about a dollar a day and will take about
bills die in committee and never even make it to five minutes of your time to strengthen your industry and
a vote. While the bill is winding its way through grow your business. Isn't your future worth that?
the committees and eventually to the House
6 | INDEPENDENT DEALER |OCTOBER 2021
PAID ADVERTISING
BACK TO BASICS
The Updated Power Of Attorney Form
Q&A on the Secure POA_HSMV 82995 updated form | BY TERRY MYERS
One of the most powerful tools in 2. The dealer arranges to satisfy the lien.
the dealer arsenal, the HSMV 82995 Secure Power 3. The dealer places a ‘Not For Sale’ sign on the
of Attorney, has been updated! vehicle. Until the title arrives and is properly
reassigned to the dealership, the vehicle may
FLHSMV Motor Vehicle not be offered for sale. (There is an exception
Procedures Manual TL-02, that may be executed in Section B. See below)
(https://www3.flhsmv.gov/dmv/
4. Form HSMV 82995, Part A is completed, giving
Proc/tl/tl-02.pdf )updated July
the dealership the power of attorney to create
28, 2021 reflects the new 20-
a Duly Assigned Certificate of Title from the
year rule, allowing the use of
selling customer to the dealership, as soon as
this powerful tool to include Scan to read
the Certificate of Title arrives at the dealership
2011 or newer vehicles that are the Procedures
in paper format from lien holder ABC Bank.
less than 20 calendar years old. Manual
2010 or older vehicles and other
The Dealer and customer/owner will capture
non-eligible vehicles may use form HSMV 82053,
the current odometer reading, date and status
Non-Secure POA.
of reading. The Seller prints and signs his/her
name(s) as directed in the form. The Purchaser/
Under what circumstances might the HSMV 82995,
Dealer Agent prints and signs his/her name as
Secure Power of Attorney form be used?
directed in the form.
• The tile is lost. Note: this is a paper title.
You cannot lose an electronic title. HSMV
Note: The Power of Attorney is given to the
82995 allows for a duplicate title to be issued,
dealership, not a specific person. The dealer
replacing the original.
agent executing Part A on behalf of the
• The title is being held by a Lien Holder.
dealership might not be the exact same agent to
complete the process when the title arrives.
What would be an example(s) of applying
and executing the HSMV 82995, Secure 5. The Title arrives at the dealership. Florida
Power of Attorney? Statutes 319.24(5)(b) states the lien holder is
Example: The dealer is here. The customer/ required to produce the title within 10-business
owner is here. There is a paper or electronic days of cashing your check (accepting your
TERRY MYERS title being held by a Lien Holder. We will use payoff).
EDUCATIONAL the paper title and form process because it is
• The dealer agent removes the HSMV 82995
INSTRUCTOR easier to visualize. The customer purchased
from the deal jacket and transfers the odometer
a vehicle from the dealership and wants to
reading, date, and status from Part A onto the
trade in his/her vehicle. The dealer checks the state’s
title. Here is a walk-through of the rest of the
database and discovers there is paper lien with ABC
form:
Bank. Here are the steps he would take:
In the Transfer of Title by Seller area:
1. The dealer contacts ABC Bank within the
Purchasers Name: Print the Dealership Name
required 10-Business Days, per f.s. 319.24(5)(a),
Purchasers Address: Dealership Address
for the payoff needed.
Selling price: Resale
8 | INDEPENDENT DEALER |OCTOBER 2021
Selling date: Date listed in Part A 6. A Duly Assigned Certificate of Title has been created,
Insert: Odometer reading, Date, and Status (Actual, etc.) supported by the HSMV 82995 Secure Power of
Attorney. The original stays with the Duly Assigned
Under the Penalty of Perjury clause: Certificate of Title until it is surrendered with the tile
In the Seller area: and a new title is created. The dealer copy is retained
He/she prints the seller’s name/POA. Repeat if more for 5-years.
than one seller.
He/she signs his/her dealer agent name/POA. Repeat 7. The dealer may now swap out the Not For Sale sign
if more than one seller. with a For Sale sign.
In the Purchaser area: There is a Part B which allows an exception to the vehicle
He/she prints his/her dealer agent name and signs being offered for sale prior to the arrival of the title. This
his/her dealer agent name in the purchaser signature involves the issuance of a second 30-day ‘Temp Tag’. Join
area. The ‘dealer agent’ here might be the same or a us in a training session if you want to hear ‘the rest of
different dealer agent than the one in Part A. the story’. The dealer is required to make the supporting
records available for at least five years.
In Part C of the HSMV 82995 Secure Power of
Articles are the opinion of the author and are not intended to be legal
Attorney: or accounting advice. The intent is to share thoughts and concepts
He/she prints his/her dealer agent name and signs. that help the business owner(s) find new and perhaps revisit, ways to
He/she prints in the date these actions were be as successful as they are capable of being. Terry can be reached at
completed. (727) 804-7375. Email: TMyers@FIADA.com. Feedback is appreciated
This date will be later than the date is Part A and on and encouraged. Terry L Myers, FIADA Director of Education and
Development.
the Certificate of Title.
PAID ADVERTISING
OCTOBER 2021 | INDEPENDENT DEALER | 9
What is the FIADA?
The Florida Independent Automobile Dealers
Association (FIADA) is a not-for-profit Florida
corporation that was organized in 1940
to represent and support the interests of
independent used car dealers.
The FIADA was established out of the need
Code of Ethics for a common ground for independent
Members have a general duty of integrity, honor car dealers to learn how to be successful;
and fair dealings toward the general public. to protect themselves from unfair and
unnecessary regulations; to exchange ideas;
Members shall comply with all city, county, and to educate the public and the law makers
state and federal laws and shall endeavor of the importance of the industry to the
to keep themselves informed of those laws general public.
governing their business.
A member shall not intentionally injure the What do we do?
business reputation of another member or We offer members a variety of benefits
competitor. such as technical assistance, money-saving
coupons and programs, education, networking
Members shall employ truth and accuracy in opportunities and advocacy. Explore our
advertising and selling. benefits to find out why you should join.
A member shall stand by any guarantee given
with the sale of a motor vehicle. DID YOU KNOW?
When you become a member of FIADA,
A member shall not perform any act which you automatically become a member of the
would bring disrepute to the motor vehicle NIADA, (National Independent Automobile
industry. Dealers Association). That means twice the
benefits with only one membership! Learn
Members shall expose or halt, where found, more at NIADA.com
any scheme designed to deceive or defraud
the automobile buying public and aid in
prosecuting those guilty of such acts.
Members shall consistently strive to
improve business methods to the
end that the public will be better
served.
Members shall encourage the
American system of free enterprise.
FIADA-The Future
Rides on Us!
10 | INDEPENDENT DEALER |OCTOBER 2021Education
You may have first learned about FIADA through Go beyond the required CE class and learn
one of our pre-licensing courses for new dealers. things that can help you grow your business.
That course is just one of many our Education FIADA offers members:
Department offers. We have live and work-
at-your-own pace options available for all of WEBINARS
our courses, and many are free or offered at a The Dealer Money Hour is
discount for FIADA members. The course catalog hosted monthly and covers
includes: a variety of industry topics
with special guests.
Continuing Education (8 Hours of CE Credit)
A live via zoom or self-directed course designed
to keep you up-to-date on current laws and INDEPENDENT DEALER
procedures as well as refresh you on the basics. FIADA's monthly magazine
provides members with
Title & Registration (8 Hours of CE Credit) helpful articles, dealer
This course covers proof of ownership in Florida, interviews and industry news
other states and other countries, notarization to stay up-to-date with what
requirements, verifying present and past is happening.
ownership, odometer readings, adding and
removing liens and more. FIADA.TV
Subscribe to our YouTube
channel for additional
Register for a class online at FIADA.com or educational content and
call us at 800.237.0448 for details and more recaps of key industry
information. events.
Events
From the beginning, FIADA has been a place where dealers can meet, connect and learn with other
dealers. By providing events throughout the year, we allow the opportunity for members to network
and hang out together.
Town Hall Meetings
Held in different locations around the state, these one-day events are perfect to learn over a free lunch.
Dealer Day at the Capitol
An annual event that focuses on advocacy by taking dealers to Tallahassee for one-on-one meetings
with legislators and a first-hand look at the legislative process.
Annual Convention & Trade Show
This is THE event of the year with a three day schedule of workshops, keynotes and social events
designed to grow your business and your network. The trade show brings vendors to you for a chance
to see the latest products and services they have to offer.
View the full calendar of in-person events including Town Hall Meetings and the Annual Convention
at FIADA.com/events.
OCTOBER 2021 | INDEPENDENT DEALER | 11Benefits Business Partners
FIADA has an entire committee These companies are committed to supporting the FIADA and its
dedicated to finding member members. Learn more at FIADA.com/Business Partners.
benefits and programs that
are useful, quality and cost- 700Credit is a leader in credit reporting and compliance
effective. Some benefits are solutions designed for the automotive industry. They
completely free to members, offer quick and easy access to the information you
others include member-only need about your customers, your client base, and your
discounts and savings applied dealership personnel and their performance.
by the vendor. These vendors
include: We offer the parts you need from national brands you
ABCOA/Deal Pack Software trust. We invest in our parts inventory and delivery
network so parts are available when you need them. We
Advantage Automotive lead the industry with more than 99% coverage in key
Analytics categories for light duty cars/trucks on the road today.
AFC Advantage Automotive Analytics has a whole host
hardware and artificial intelligence software that gives
ASC Warranty automotive finance professionals the tools to monitor
and assess risks in real time.
Auto Data Direct
CarFax Auto Data Direct provides innovative, web-based tools
for accurate and real-time motor vehicle data. FIADA
DealerCenter
members receive free activation when they sign up for
Dealerplatform.com ELT services and deposit $50 in a pre-paid account.
Floorplan Xpress
MyPayrollSite.com LLC provides payroll and all related
Martinez and Associates tax services, HR support and a host of other business
support services. Adding MyPayrollSite.com as your
SiriusXM payroll provider adds another consulting source to your
human resource team.
Small Dealers Assistance
Tax Refund Services (TaxMax) The NIADA Certified Pre-Owned Program offers high-
quality vehicles backed by a powerful, worry-free limited
TextBox warranty from Warrantech. NIADA Certified is the only
nationally recognized, independent CPO program.
UPS Shipping
Heartland offers merchant services/credit card
Williams & Stazzone processing. Take advantage of your FREE savings analysis
and see how much money they can save you.
See how FIADA members now have access to new and improved
much you flat pricing. Among others, members-only savings
can save Include 50% on domestic next day/deferred and 30% on
as a FIADA ground commercial/residential
member.
Scan this FIADA members have access to exclusive, members-only
code to use discounts at Office Depot and OfficeMax and can save
our member up to 75% off regular prices on the Best Value List of
calculator. preferred products.
12 | INDEPENDENT DEALER |OCTOBER 2021Florida Independent Automobile Dealers Association
Serving Dealers Since 1940.
MEMBERSHIP APPLICATION
FIADA’s Vision is to be the leading resource for Florida’s independent automobile industry. OUR Mission is to
protect, promote and preserve independent automobile dealers, vendors and consumers through education, ethical
practice, professional networking and advocacy of fair legislation/regulation.
FIADA PROVIDES DEALERS WITH:
REPRESENTATION: EDUCATION: DEDICATION: AFFILIATION:
A lobbyist and legislative Free Continuing Education A network of 600+ dealers Access to over 100
committee that fights for and free phone calls to who are united by the vendors who specialize in
the interest of dealers. legal counsel. same issues as you. auto industry needs.
MEMBER DISCOUNTS:
Take advantage of member-only discounts at over 12 auctions in Florida & Georgia as well as
savings from companies like ADD, ASC, Carfax and more. 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 inside the industry.
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
Principal Contact:_____________________________________ Signature:___________________________________________
code of ethics and FCC Consent.
Payment Method: q Check (made payable to FIADA) q Visa q Mastercard q American Express q Discover
Card Number:______________________________________________ Expiration Date:____________________ CVV:__________
Name on Card:____________________________________________________________________________________________
I authorize FIADA to charge my credit card listed above.
Dealer Type: q Retail q BHPH q Wholesale Years in business?_____________ License# ______________________
SUPPORT THE FIADA PAC
Your PAC Contribution helps spread the awareness and gain support of issues affecting independent dealers in the state's capitol.
q $500 q $250 q $100 q $50 q $25 q _________
FCC Communications Consent: I understand that by providing my mailing address, email address, telephone number and fax number, I consent to receive valuable and timely
communications via mail, parcel, email, telephone, text and/or fax from or on behalf of the Florida Independent Automobile Dealers Association (FIADA). This consent shall remain
in effect until FIADA receives written revocation signed by an authorized representative.
800.237.0448 | Fax: 850-385-3251 | Email: info@fiada.com | www.FIADA.com | Florida Independent Automobile Dealers Association, 1840 Fiddler Court, Tallahassee, FL 32308MEMBERSHIP NEWS SEPTEMBER 2021
N EW ME MB E RS REJ O I N I N G MEMB E R S
ALL PRESTIGE SERVICES LLC CAMPBELL MOTORS AMERICAN CAR CENTER
Christopher Maples Brian Campbell David Norton
Crystal River, FL Panama City, FL Memphis, TN
Sponsor: FIADA.com Sponsor: Savannah Calhoun Sponsor: FIADA
FIRST CLASS MOTOR ROUND TABLE AUTO SALES
SPORTS LLC Cedric Campbell
Jose Flores Orlando, FL
Orange City, FL Sponsor: Terry Myers
Sponsor: Savannah Calhoun
R EN E W ING ME MBERS
40+ Year Members Riker's Auto Financial Kissimmee, FL
Tampa Machinery Auction Tampa, FL Tampa Carstore, Inc. Tampa, FL
30+ Year Members Under 10 Year Members
Manheim Pensacola Pensacola, FL ABC Autotrader Tampa, FL
Martinez & Associates, CPAs, P.A. Winter Springs, FL Auto 4 You Inc Sarasota, FL
20+ Year Members Carvalue LLC Seminole, FL
Frontier Motors, Inc. Pensacola, FL Commuter Cars Port Saint Lucie, FL
Prime Autos West Palm Beach, FL The Car Guys Melbourne, FL
Williams & Stazzone Insurance Agency, Inc. Melbourne, FL Fitzgerald Motors, Inc. Clearwater, FL
Fleet Liquidators of Central Florida LLC Debary, FL
10+ Year Members Keen Auto Mall LLC Pompano Beach, FL
Cars & Credit of Jacksonville Jacksonville, FL Manheim Fort Lauderdale Davie, FL
Corbin Auto Sales Chipley, FL Myhree Motors LLC Williston, FL
Credit Solution Auto Sales, Inc Jacksonville, FL Next Ride LLC Largo, FL
Enterprise Rent A Car Coconut Creek, FL Orlando Auto Auction Orlando, FL
Florida Auto Dealer School The Villages, FL Resources Management Group Oviedo, FL
Lighthouse Children Home, Inc. Tallahassee, FL SheCar, Inc. Orlando, FL
MITS at CMI, LLC Largo, FL Zellner Insurance Agency Jacksonville, FL
No. 1 Auto Sales, Inc. Hollywood, FL
Off Lease Only North Lauderdale, FL
You're invited to join our FIADA "Closed Group" on Facebook. This group was
created to allow our current members to be able to communicate, offer advice,
and is a way to better your dealership and our organization. It's different than
the public page and is intended for members to ask questions, state concerns,
or just chat.
Any current member of FIADA can join. Just search "FIADA - Members Group"
on Facebook, and then click “request to join.” If you have trouble finding us, or
joining, contact FIADA at 800.237.0448 .
14 | INDEPENDENT DEALER |OCTOBER 2021ONLINE ACV AUCTIONS INC
1 ADESA JACKSONVILLE
2 ADESA OCALA
3 ADESA ORLANDO
4 ADESA TAMPA
5 AMERICA'S AUTO AUCTION
JACKSONVILLE
6 AUTONATION AUTO
AUCTION ORLANDO
7 COUNTY AUTO AUCTION OF
CENTRAL FLORIDA
8 DEALERS AUCTION
There are 28 auto auctions around the state of Florida and Georgia that are members X-CHANGE
of the FIADA. This directory is to be used as a guide to these auctions. Please verify
sale dates/times with the auction directly before attending. For more information on 9 INSURANCE AUTO AUCTIONS
FIADA's partnership with auto auctions, log on to FIADA.com/auctionpartners. 10 MANHEIM CENTRAL FLORIDA
11 MANHEIM DAYTONA
BEACH
18
24 5 12 MANHEIM FORT
1 14 LAUDERDALE
13 MANHEIM FORT MYERS
27
14 MANHEIM JACKSONVILLE
2 11
15 MANHEIM LAKELAND
3
16 MANHEIM ORLANDO
16 6
17 MANHEIM PALM BEACH
8 10
21 23 18 MANHEIM PENSACOLA
25 7
28 4 15 19 MANHEIM ST. PETE
22 20 20 MANHEIM TAMPA
9 19
21 ORLANDO AUTO AUCTION
17 22 SOUTHEASTERN AUTO
AUCTION
13
26 23 SPACE COAST AUTO
12 AUCTION
24 TALLAHASSEE AUTO
AUCTION
25 TAMPA MACHINERY
AUCTION
26 TREASURE COAST AUTO
AUCTION
27 VEMO AUTO AUCTIONS
28 YOUR AUCTION
OCTOBER 2021 | INDEPENDENT DEALER | 15AUCTION DIRECTORY Times and dates of sales are subject to change.
Online Only Davie Fort Pierce
ACV AUCTIONS, INC MANHEIM FORT LAUDERDALE TREASURE COAST AUTO AUCTION
www.acvauctions.com www.manheim.com www.tcautoauction.biz
640 Ellicott St, Ste. 108 5353 S State Road 7 2900 Industrial 33rd St
Buffalo, NY, 14203-1252 (954) 791-3520 (772) 595-9454
(716) 796-6976 GM/Contact: Glenna Bishop GM/Contact: Mike Loudermilk
GM/Contact: Mike Waterman Turbo Tuesdays at 9:30am Thursdays, 3:00pm
Online/mobile application for wholesale Total Resource Auctions Tuesdays at 9:30am
vehicle remarketing Open Sale Fridays at 9am
Ford every other Friday at 9am
Bridgecrest Weekly Credit Acceptance/ Haines City
VRS Tuesdays at 9am on Drivetime’s off
week. COUNTY AUTO AUCTION OF CENTRAL
Alachua FLORIDA
VEMO AUTO AUCTIONS www.caacfl.com
www.vemoauctions.com 4890 US Hwy 17 92 W
10100 Cellon Creek Blvd (863) 956-4222
(352) 373-7535 Daytona Beach GM/Contact: Herbert Miranda
GM/Contact: Brad Neal MANHEIM DAYTONA BEACH Wednesdays, 5:35pm
Thursdays, 4:00pm www.manheim.com
1305 Indian Lake Rd
(386) 255-2500
GM/Contact: Joey Satfield Jacksonville
Clearwater Wednesdays, 3:00pm
ADESA JACKSONVILLE
MANHEIM ST. PETE www.adesa.com
www.manheim.com 11700 New Kings Rd
14950 Roosevelt Blvd (904) 764-1004
(727) 531-7717 Fort Myers GM/Contact: Andy Clauss
GM/Contact: Shawn Springer MANHEIM FORT MYERS Thursdays: Consignment sale, 9:00am;
In-Op Sale, Thursdays, 1:30pm www.manheim.com Fleet/Lease sale, 10:00am.
Main sale, Thursdays, 2:00pm 2100 Rockfill Rd Monthly: Heavy Duty Truck and
(239) 476-9800 Equipment sale, Tuesdays, 9:00am
GM/Contact: Syndiee Volentine
Regular Sale Wednesdays, 3:00pm
INSURANCE AUTO AUCTIONS TRA Sale Wednesdays, 2:00pm
www.iaai.com Specialty Sale Last Wednesday of each
5152 126th Ave. N month at 1:00pm AMERICA'S AUTO AUCTION
(727) 572-4050 JACKSONVILLE
GM/Contact: Clay Kirkland www.americasautoauction.com/
Mondays, 9:30am Jacksonville
11982 New Kings Rd
(904) 764-7653
GM/Contact: Randy Overstreet
Tuesdays, 5:30pm, INOPS run at 5:00pm
16 | INDEPENDENT DEALER |OCTOBER 2021AUCTION DIRECTORY
MANHEIM JACKSONVILLE Ocala Orlando
www.manheim.com
ADESA OCALA ORLANDO AUTO AUCTION
10817 New Kings Rd
www.adesa.com www.orlandoautoauction.com
(904) 768-9981
540 SW 38th Ave 4636 W Colonial Dr
GM/Contact: Gary Twelkemier
(352) 351-5100 (407) 299-3904
TRA sale Thursdays, 12:20pm
GM/Contact: Brad Yeager GM/Contact: Billie Jo Graham
Regular Sale Thursdays, 1:00pm
Fridays, 9:45am; Mondays, 6:00pm
Specialty Sale: RV/Boats/Motorcycles
Third Friday of the month at 9:00am
Lakeland
MANHEIM LAKELAND
Pensacola
www.manheim.com MANHEIM PENSACOLA
8025 State Road 33 N Ocoee www.manheim.com
(863) 984-1551 6359 N W St
MANHEIM CENTRAL FLORIDA (850) 484-7100
GM/Contact: Dave Rathjens
www.manheim.com GM/Contact: Peggy Dirk
Wednesdays, 2:00pm
11801 W Colonial Dr Tuesdays, Consignment Sale - 9:15AM CST
Specialty Sales:
(407) 905-8623 Early Bird TRA Sale -Bi Weekly 8:30AM
RV Sale 1st/3rd Wednesday of the month
GM/Contact: Toni Hanshaw CST Specialty Sale - The second Tuesday
at 9:00am; Weekly inop sale, 1:00pm
Commercial and Dealer Consignment - of the Month at approx. noon CST
Tuesdays 4:00pm;
Wednesday 8:30am - 1250 W. Landstreet
Road, Orlando Florida 32824
Longwood Wednesday Commercial & Dealer
AUTONATION AUTO AUCTION ORLANDO Consignment, 9:00am Sanford
www.autonationautoauction.com ADESA ORLANDO
650 N US Highway 17 92 2851 St. Johns Parkway
(407) 961-4300 (321) 247-0677
GM/Contact: Todd Strawn MANHEIM ORLANDO GM/Contact: Todd Hoagey
Thursdays, 12:00pm www.manheim.com Wholesale Auto Auction; Tuesday at 1:00
(Tows/Inops & General Consignment Sale, 11801 W Colonial Dr for inops, 2:00 for the regular sale
Early Bird Sale in the A & B Lanes) (407) 905-8623
GM/Contact: Ellen Westpfahl
Consignment Sale - Tuesdays 9:00 AM;
General Motors Closed Sale - Every Other
Tuesday right after GMF Sale. Chrysler
Savannah, GA
Melbourne Closed Sale - Every Other Monday 12:30 SOUTHEASTERN AUTO AUCTION
PM; LARGEST DEALER CONSIGNMENT www.southeasternaa.com
SPACE COAST AUTO AUCTION
IN THE SOUTHEAST *All lanes are now 1712 Dean Forest Rd
www.spacecoastautoauction.com
Simulcast! (912) 965-9901
2870 Electronics Dr
GM/Contact: Bill McCready
(321) 242-1833
Wednesday Dealer Only Auction/
GM/Contact: Joe Pritchett
Thursday Public Auction
Tuesdays, 5:00pm
OCTOBER 2021 | INDEPENDENT DEALER | 17AUCTION DIRECTORY Times and dates of sales are subject to change.
St Petersburg TAMPA MACHINERY AUCTION
www.tmauction.com
YOUR AUCTION
PO Box 291069
www.yourauction.biz
(813) 986-2485
3010 Scherer Dr N
GM/Contact: Dave Nelson
(727) 572-8800
Second Saturday of each month, 9:00am
GM/Contact: Michael Luce
Tuesdays, 4:00pm
west palm beach
Tallahassee MANHEIM PALM BEACH
www.manheim.com
TALLAHASSEE AUTO AUCTION
600 Sansburys Way
www.bscamerica.com
(866) 889-7222
5249 Capital Circle SW
GM/Contact: Marjorie Kekic
(850) 878-6200
Weekly Consignment Sale - Thursdays, 9:00am Highline
GM/Contact: Ben Winkler
Inoperative Postcard Sale ("Hip" Sale) - Starts every
Auction Every Friday at 10:00am ET; Broadcast Live on
Exotic Highline sale, 8:45am Exotic Highline Sale - Every 4
Simulcast
Wednesdays, 9:00am Damaged & Disabled Sale - Kicks off
every other Consignment Sale, 8:00am Highline Simulcast
Event Sale - Every 4 weeks, Mondays at 11:00am. Simulcast
Sale w/ live Auctioneer - Lane attendees welcome.
Tampa
ADESA TAMPA
www.adesa.com
3225 N 50th St
(813) 471-3266
Zephyrhills
GM/Contact: Lisa O'Neil DEALERS AUCTION X-CHANGE
Monday IN-OP Sale at 2 p.m. www.daxauction.com
Fleet/Lease Sale at 3 p.m. 2738 Gall Blvd
Dealer Consignment Sale at 3 p.m. (727) 233-9799
GM/Contact: Gary Connors
Live in lane and simulcaste sale Wednesdays, 9:30am and in
ops starting at 9:15am
MANHEIM TAMPA
www.manheim.com
401 S 50th St
(813) 247-1666
GM/Contact: Todd Janego
Consignment Sale - Thursdays 9:00 AM, Ford Factory Sale -
Wednesdays 9:30AM (bi-weekly) TRA Sale - Mondays 9:30am
(Located at our Cone Road facility)
18 | INDEPENDENT DEALER |OCTOBER 2021MEMBER-ONLY AUCTION SAVINGS COUPONS
Check out the savings that come with your FIADA membership:
As a member you have exclusive access to coupons. Simply text the FIADA's coupon liaison at (800) 237-0448 with your name,
dealership, and which coupon you would like to use, and you will receive your discount and instructions on how to use it.
TALLAHASSEE
UP TO First time buyers/sellers
$350 0FF $100 0FF $100 $100 0FF $100 0FF
Buy/Sell Fee on your Sell Fee back transportation fees. Buy/Sell Fees one Buy/Sell Fee
first purchase.
TALLAHASSEE
$75 0FF $100 0FF $100 0FF $100 0FF $100 0FF
one Buy/Sell Fee Buy/Sell Fee Buy/Sell Fee Buy/Sell Fee Buy/Sell Fee
$100 0FF $100 0FF $100 0FF $100 0FF $100 0FF
Buy/Sell Fee Buy/Sell Fee Buy/Sell Fee Buy/Sell Fee Buy/Sell Fee
ONE FREE
$100 0FF $100 0FF $100 0FF
Buy/Sell Fee Buy/Sell Fee BUY/SELL FEE Buy/Sell Fee
($190 Discount)
*Coupons are subject to change. Terms and conditions apply. Please see official coupon for details, found in the FIADA member app.
OCTOBER 2021 | INDEPENDENT DEALER | 19TIPS TO WIN
YOUR NEXT
6
DEALER AUCTION
With a little preparation and a
solid plan you'll make the right
decisions at the auction and
always come out a winner.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
“You don’t make money when you sell a vehicle. of those started at one of the hundreds of dealer auctions
You make money when you buy it.” around the country. If you plan on making money on used
car sales, it starts with understanding how to get the most
Sound counter-intuitive, but successful dealers know it’s out of auctions.
100% true.
Winning at auctions is more than just finding the best
That’s because buying the right vehicles for your market, prices. A solid auction strategy lets you leave with the best
at the right price, helps you sell cars faster while earning a deals by avoiding extra costs and headaches.
higher gross-per-copy.
Ready to build a better auction strategy for your dealership?
Last year, dealerships sold 42.7 million used cars. Many Follow these 6 steps to make sure you’re ready to win.
20 | INDEPENDENT DEALER |OCTOBER 2021>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Analyze your inventory Once you cross-reference all this data, the vehicles you
1
Begin by studying your own inventory and want to add to your inventory will be right there at the
look for the following: intersection.
Vehicles you’re running low on
2
Vehicles in high demand Learn the Rules of the Auction
Vehicles which net you the most profit Every dealer auction runs a little
differently. Check the rules of the auction
Next, study other local dealerships and pay attention to before it starts. Make sure you know the
consumer trends on a national level. Look for the vehicles answers to the following questions:
not on your lot that are selling well in your area or similar How does bidding work?
markets around the country. Continued on page 22.
OCTOBER 2021 | INDEPENDENT DEALER | 21WIN YOUR NEXT AUCTION continued from Page 21.
What payment options are accepted? Your appraisal tool is especially important when attending
How do you collect the vehicle? Do you need to transport it online auctions because you’re relying on this data to make
on your own? your decisions. You won’t have a chance to see the vehicle
in person.
What’s the auction’s policy for announcing damage, paint-
work, and other details that may impact your appraisals? Know your Price Ceiling
5
Doing the appraisal early on will give you
Register for the auction at least one or two days beforehand. time to clean up your strategy and focus
This is a good idea even if you’re bidding online. Also, some on the vehicles that are good business. The
auctions offer membership perks if you register early. best cars will always have competition.
You can usually find the rules or FAQs of the auction at You get into the most trouble when you’ve
their website. You can also set-up a time to meet with got an eye on a good car and really want to get it to your
one of the managers on a non-sale day and get all your lot. It’s easy to get emotional and spend way more money
questions answered. than you can afford. Make sure you set a price ceiling for
each vehicle and NEVER go higher.
3
Research the run lists
Check the run lists against your inventory If the wholesale price eats into your profit margin, you’re
strategy. Almost every auction publishes throwing away your own money. Make sure you factor in
their run list prior to the event. While they the vehicle’s condition, mileage, and history report. Also,
aren’t 100% accurate before the day of the account for reconditioning and advertising costs.
auction, they’re good enough to do your
homework. Don’t forget about
6
transportation
Do they have the cars you want to buy? Do these cars come Most live auctions don’t do transportation
with the popular trims and features your customers are for the sold vehicles. Or if they do, you’ll
looking for? probably get better prices elsewhere.
Use your go-to appraisal tool to get a good estimate for Make sure you have planned transport
the retail and wholesale prices. Factor in reconditioning for all the cars you purchase. Auctions typically want you
costs based on the information in the run lists. If you to take the vehicles out of their lot on the same day, so be
have a service department, it’s a good idea to talk to the ready to get them onto a truck and on the road.
mechanics. They may offer you additional insight.
Volatile markets can make you rich one day and have you
Be there when the gates open
4
selling at a loss the next. The faster these cars get into your
If you’re heading to a live auction, you lot, the faster you can start making money.
want to be on their lot as early as you can.
Most dealer auctions open the gates a few Get ready to win
hours before the bidding begins. This will Now that you’ve done your research, developed your
give you plenty of time to review all of the inventory strategy, and have drawn the hard spending
cars you’re interested in and inspect them limits, you’re ready to take dealer auctions head-on.
in full. You can check the condition of each vehicle, look for With all these tips in mind remember, just because you’re
visible damage, and check window stickers for additional doing things smart doesn’t mean it’s all business. Auctions
information (e.g. absent titles). are exciting. Go and have fun. Make connections. Expand
your network. There are more benefits in addition to
If you have a mobile appraisal tool, you can scan the VIN immediate returns, especially if you’re doing what you love.
numbers to get the vehicle’s full data and history. This
may or may not be different from what’s already published This article is courtesy of VinCue, an online system that incorporates
online. The more time you spend, the more you will know inventory management, auction sourcing, market pricing and more. Find out
about each vehicle before bidding. what VinCue has to offer at vincue.com
22 | INDEPENDENT DEALER |OCTOBER 2021FI ADA I NV I TES Y O U TO AT T EN D A
TOWN HALL
MEETING
T UE S DAY | NOVE MB ER 2, 2021
9 : 0 0 am - 1:00pm
AC H OT E L TA L L A H AS S E E
U N I V E R S I T I E S AT T H E CA P I TO L
Join us in Tallahassee to learn what's happening in the industry, meet up with fellow dealers,
enjoy complimentary lunch sponsored by Auto Data Direct and ask the experts your burning
quesitons.
ALL DEALERS WELCOME:
TOPICS OF DISCUSSION
Town Hall Meetings are FREE
Legal & Regulatory Update
to attend for all dealers and
presented by FIADA General Counsel Rob Sickles
breakfast and lunch will be
What's Happening at the DMV provided.
presented by Division of Motor Vehicles
EVENT SPONSORS:
Vendor Expo
Visit with used car industry vendors and service providers.
LOCATION ADDRESS:
AC Hotel Tallahassee Universities at the Capitol
801 South Gadsden Street, Tallahassee, FL 32301
(If you would like to make reservations, use the link at FIADA.com
for a group rate discount of $159 + tax)
R E G I S T E R ON L IN E AT F I A DA .C O M
OR CAL L 8 0 0 . 2 3 7 .0 4 4 8 F O R M O R E DETA I L SHR Advisor
Monthly best tips, trends and HR practices for small business
What questions should an employer or medical condition, we recommend that you refrain
from addressing this candidate's mention of it directly.
avoid asking during the recruiting and Instead, confirm that the candidate can perform the
interview process? essential functions of the position with or without
reasonable accommodation. You'll want to be certain
You should avoid questions that are not job-related or that you are asking this question consistently of all
that cause an applicant to tell you about their inclusion candidates, and not just those who have disclosed
in a protected class. These would include questions a past medical condition or those you suspect may
about race, national origin, citizenship status, religious
affiliation, disabilities, pregnancy, sexual orientation
or gender identity, past illnesses (including use of
sick leave or workers’ comp claims), age, genetic
information, or military service. You should also avoid
asking about things that might be protected by state
law (e.g., marital status and political affiliation).
Asking these sorts of questions could result in rejected
candidates claiming that the decision not to hire was
based on their inclusion in these protected classes
rather than job-related considerations. We recommend
looking at your state’s protected class list to be sure you
don’t run afoul of it.
During an interview, it is advisable to present the
candidate with a copy of the job description that lists not be able to perform the essential functions of the
all essential job functions, including any physical position. It’s also important not to make assumptions
requirements necessary to perform the job, and simply about a candidate's ability to perform their job based
asking the candidate if they are able to perform the on their having disclosed that they have a disability or
job duties listed. For example, if the position requires other health condition.
someone to lift 25 pounds repeatedly throughout the
day, you should ask the applicant whether they can lift Finally, unless a candidate has an obvious disability or
25 pounds repeatedly throughout the day. You should has voluntarily disclosed that they have a disability, we
not ask whether they have back pain or any other would not recommend asking applicants if they would
physical issues that might prevent them from lifting 25 need accommodation to perform job functions as it
pounds or if they’d filed a workers’ comp claim when would have the effect of creating a pre-employment
doing manual labor in the past. If you need someone to disability inquiry, which is prohibited under the
work Sunday mornings, you should ask the applicant Americans with Disabilities Act (ADA).
if they can work Sunday mornings. You should not ask
if they attend church or have other commitments that The HR Advisor is a monthly newsletter from MyPayrollSite.com.
would prevent them from working Sunday mornings. Find out more information by calling (850) 322-6437 or visiting
online at www.mypayrollsite.com.
If a candidate proactively acknowledges a disability
24 | INDEPENDENT DEALER |OCTOBER 2021thank you pac donors!
The FIADA PAC has a year-end goal of $30,000. Thanks to a call to action at the
Annual Convention, the PAC donations now total $18,370.00, which is 61% ! Join the
list of other dealers who have already contributed, and help move the needle forward!
Credit Solution Auto Sales, Inc
Manheim Fort Lauderdale
Manheim Pensacola
Miami Auto Broker
No. 1 Auto Sales, Inc.
Orlando Auto Auction
Prime Autos
Southeast Car Agency, Inc.
The Car Guys
Williams & Stazzone Insurance Agency, Inc.
help us move the needle! donate to the pac today.
PAC CONTRIBUTION INFORMATION Mail this form with payment to 1840 Fiddler Court • Tallahassee, FL 32308
Contributor’s Name:____________________________________Dealership/Company:_____________________________________
Street Address, City, State, Zip:________________________________________________________________________________
q Check (payable to FIADA-PAC) q Credit Card (one time contribution) q Monthly Credit Card Contribution (until cancel)
q $500 q $250 q $100 q $50 q $25 q $________
Credit Card Information: q Visa q MasterCard q American Express q Discover
Name on Card:_______________________________________Card Number:___________________________________________
Exp. Date:___________________ Sec Code:___________________ Billing Phone:___________________________________
Billing Address:_____________________________________ Authorized Signature:_____________________________________
you can also make a PAC CONTRIBUTION online at www.fiada.com/pac
OCTOBER 2021 | INDEPENDENT DEALER | 25LEGAL & LEGISLATIVE
A Look at Current Legal Issues
A monthly collection of selected legislative and regulatory highlights.
BY ERIC JOHNSON
FEDERAL DEVELOPMENTS receive the full benefit of the temporary stay and that a more
Agencies Extend Comment Period for Proposed Interagency substantial compliance date allows time for appeal.” The new
Guidance on Managing Risks Associated with Third- compliance date for the Payment Provisions is now June 13,
Party Relationships. The FDIC, the FRB, and the OCC 2022.
recently extended until October 18, 2021, the comment
period for the proposed interagency guidance designed FTC Amends FCRA Rules for Dealers. On September 8,
to help banking organizations manage risks associated the FTC approved largely technical changes to five rules
with third-party relationships. The proposed guidance that implement parts of the Fair Credit Reporting Act.
offers a framework for banking organizations to consider The changes clarify that the five FCRA rules retained by
in developing risk management practices throughout the the FTC (Address Discrepancy Rule, Affiliate Marketing
life cycle of third-party relationships, including planning Rule, Furnisher Rule, Prescreen Opt-Out Notice Rule,
to manage the relationship and its risks, due diligence and and Risk-Based Pricing Rule) apply only to motor vehicle
third-party selection, contract negotiation, oversight and dealers. In addition to the technical changes to the five rules,
accountability, ongoing monitoring, and termination. The the Prescreen Opt-Out Notice Rule was revised to add to
framework considers the level of risk, complexity, and size the model notices that motor vehicle dealers can use the
of the banking organization and the nature of the third- web address where consumers can opt out of credit offers.
party relationship. The proposed guidance also promotes The Risk-Based Pricing Rule also was updated to include
compliance with applicable laws and regulations, including examples that reflect its narrower scope to just motor vehicle
those related to consumer protection, and discusses dealers.
supervisory reviews of third-party relationships. The
proposed guidance would replace each agency's existing CASE OF THE MONTH
guidance on this topic. Car Buyer States Multiple Claims Against Dealership
Arising Out of Misrepresentations Regarding Status of
Court Stays Compliance Date for CFPB’s Rulemaking on Financing: A consumer who was interested in buying a car
Payday, Vehicle Title, and Certain High-Cost Installment from a dealership filled out the dealership's online financing
Loans. On August 31, the U.S. District Court for the application at the sales representative's request. A few
Western District of Texas issued an order in Community months later, the representative allegedly told the consumer
Financial Services Association of America, Ltd. v. Consumer that she had been approved for financing with a bank. The
Financial Protection Bureau, staying the date for complying consumer signed a retail installment contract and a buyer's
with the CFPB’s rulemaking on Payday, Vehicle Title, order for the purchase of a vehicle. She traded in her old car,
and Certain High-Cost Installment Loans. In 2018, the made a $500 down payment, and left the dealership with the
Community Financial Services Association of America new vehicle.
and the Consumer Service Alliance of Texas challenged the
CFPB’s 2017 final rule on Payday, Vehicle Title, and Certain About two weeks later, the buyer learned that the bank
High-Cost Installment Loans. The court subsequently stayed that financed her purchase was a second bank and that
both the litigation and the compliance date. In 2019, the the financing was contingent on approval of her financing
court lifted the stay on the litigation but not the compliance application. The representative then informed the buyer
date, and the parties proceeded to file motions for summary that she would have to verify her employment status with
judgment. The court’s order grants the CFPB’s motion the second bank, but apparently the second bank was not
for summary judgment and stays the August 19, 2019, satisfied with the verification that the buyer's employer
compliance date of the Payment Provisions for 286 days. provided.
In staying the compliance date, the court stated that it was
“persuaded by the Associations’ arguments that they should Just a short while later, and six days before the buyer's first
26 | INDEPENDENT DEALER |OCTOBER 2021installment payment was due under approved for financing by the first Fourth, the court concluded that the
the RIC she signed, the dealership bank and would only need to sign the buyer stated a claim under the ECOA
repossessed the car and refused to RIC to complete the transaction was based on allegations that the defendants
return her trade-in vehicle or the down an unfair or deceptive act. She also failed to give her written notice of the
payment. alleged that she justifiably relied on reasons for which they revoked her
these misrepresentations by signing the financing and repossessed her car.
The buyer sued the dealership and RIC, trading in her old car, and paying Continued on page 29.
the representative, alleging violations a down payment for the new car.
of the Pennsylvania Uniform
Commercial Code, the Pennsylvania
Unfair Trade Practices and Consumer
Protection Law, the federal Equal
Credit Opportunity Act, and the
federal Truth in Lending Act, as well
as breach of contract and fraud. The
defendants moved to dismiss. First,
the U.S. District Court for the Eastern
District of Pennsylvania denied
the defendants' motion to compel
It’s time to change
PAID ADVERTISING
arbitration pursuant to the arbitration
provision in the buyer's order. The
court found that, under Pennsylvania's
your approach to F&I compliance
Motor Vehicle Sales Finance Act,
an arbitration provision contained
solely in a document separate from
WITH THIS
toSPECIAL OFFER...
the RIC - like a buyer's order - is not
enforceable unless the RIC incorporates
it by reference. In this case, the RIC It’s time change
did not reference the buyer's order your approach to F&I compliance
or the arbitration agreement, and,
therefore, the arbitration provision in
the buyer's order was not enforceable. WITH THIS SPECIAL OFFER...
Second, the court allowed the UCC Subscribe to Spot Delivery and, at no
claim to proceed based on the buyer's
additional charge, we will send you a
allegations that she had not breached
copy of your
the RIC as of the time of repossession choice
Subscribe of any
to Spot of our
Delivery and, legal
at no
because her first payment was notcompliance
yet additional
books,charge,
CARLAW,we will send
CARLAWyou a II
due and she provided truthful and copy of your choice of any of our legal
accurate information verifying her Street Legal or CARLAW
compliance books, III Reloaded.
CARLAW, CARLAW II
employment, thus satisfying the second Street Legal or CARLAW III Reloaded.
bank's requirements for completing
her credit application. Moreover, the
court noted that the defendants did
not provide sufficient evidence that
the RIC made the failure to provide
To order, visit us at
verifiable employment information
on the buyer's credit application a
To order, visit us at
www.counselorlibrary.com/offer/spot
ground for repossession. Third, the www.counselorlibrary.com/offer/spot
or call us at 877-464-8326.
court concluded that the buyer stated a Also follow us on:
claim under the Pennsylvania UTPCPL.
or call us at 877-464-8326.
The buyer alleged that the defendants' Also follow us on:
misrepresentation that she was already
OCTOBER 2021 | INDEPENDENT DEALER | 27You can also read
