Turn Up the Heat on Sales This Summer

auto dealer INDEPENDENT

Georgia Independent Automobile Dealers Association

July/August 2015

Turn Up the Heat on Sales This Summer 3 Strategies to Help, p.5

Convention 2015: A Blockbuster Success! Highest-rated, highest attended event to date, p.8

Monitoring Your Mid-Year Buy Here, Pay Here Performance The challenge, the competition, p.31

Register Today for Mandatory CE Training 2 Easy Options: In-Person Events & NEW Online Service, p.35

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GEORGIA INDEPENDENT AUTOMOBILE DEALERS ASSOCIATION

INDEPENDENT

auto dealer JULY/AUGUST 2015



2 |

Message from the President: The Most Amazing Convention Ever!



4 |

Message from the Executive Director: Amazing things at GIADA



5 |

3 Strategies to Help You Turn Up the Heat on Sales This Summer



8 |

Convention 2015: A Blockbuster Success!

37 |

How Dealers Avoid Flood-Damaged Vehicles

21 |

Reviews are the “Tool to Use”

40 |

The CARLAWYER

22 |

Service Provider Directory

44 |

Auction Directory

31 |

Monitoring Your 2015 Mid-Year Buy Here, Pay Here Performance

47 |

3 Ways To Turn Your Average Inventory Cost Into Advantage

33 |

What’s Next in Credit Compliance

49 | 50 |

The Attack on Arbitration



6 |

NIADA Chooses Carfax for Certified Pre-Owned Vehicles

34 |

3 Stats to Change Your Mind About Video Marketing



7 |

Make Customer’s Drive to Your Virtual Car Lot a Breeze

35 |

CE Training Options

52 |

New & Renewed Members New OSHA Regulations Put Auto Dealers in the Crosshairs

BOARD OF DIRECTORS Chairman of the Board Larry Lewallen • Rainwater Motor Company Douglasville, GA • 770–942-8275

The magazine of the

GEORGIA INDEPENDENT AUTOMOBILE DEALERS ASSOCIATION WWW.GIADA.ORG 6903-A Oak Ridge Commerce Way Austell, Georgia 30168 T | 800-472-8101 or 770-745-9650 F | 770-745-9655

EXECUTIVE DIRECTOR | EDITOR Paul R. John MAGAZINE AD SALES Carol Collins | (404) 308-9656 PRODUCTION EDITOR | COPY WRITING Professional Mojo | [email protected] DEALER SERVICES AND VENDOR RELATIONS Amy Bennett, Dir. Membership & Vendor Relations OFFICE MANAGER Susan Strickland, Comptroller For more information about the GIADA, topics addressed in this issue, or for additional copies please contact GIADA, (800) 472-8101. Copyright 2015

President Billy Graham • Graham Auto Sales, Inc. Loganville, GA • 770-554-0300 President Elect Jennifer Knights • M&M Motors Hinesville, GA • 912-877-7462 First Vice President Bart Barton • Barton Used Cars Newnan, GA • 770-527-5804 Second Vice President Lee Cavender • Cavender Auto Sales Gainesville, GA • 770–297-8700 Third Vice President David Mosley • Cherokee Auto Group Canton, GA • 770-345-0282 Treasurer David Johnson • Cherokee Auto Group Canton, GA • 770-345-0282 Secretary Hussain Akbarali • Georgia Auto Gallery Lilburn, GA • 770-573-7912

Sr. Vice President-at-Large Joe Addison • Joe Addison Motors, Inc. Savannah, GA • 912-234-5306 Sr. Vice President-at-Large Dennis Pope • Peoples Financial Mableton Austell, GA • 770-948-6110 First Vice President-at-Large Sandra Gesham • American Credit Acceptance Forest Park, GA • 404-366-7550 Second Vice President-at-Large Guy Padgett • Sterling Credit Aiken, SC • 706-830-3045 Third Vice President-at-Large Troy McCalla • GoldStar GPS Atlanta, GA • 678-362-2161 Fourth Vice President-at-Large Pam Wangel • Insurance Auto Auction, Inc. Lake City, GA • 404-366-2298 Auxiliary President, Cindy Graham Vice-President, Phil Knights Treasurer, Jill Mosley Secretary, Renae Barton

CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 1

ON THE MARK

The Most Amazing Convention Ever! For those of you who missed our 60th annual convention at the beautiful Lake Lanier Islands Legacy Lodge, you may have missed the best convention ever! We had a tremendous turnout for our first CE class of the season on Friday with almost 450 attendees. Saturday night’s banquet was a booming success with record attendance as well. As I start my second term as president in the last three years, I am confident that it will be our best year ever. With the year Larry Lewellan just completed, we are doing some amazing things. Larry was instrumental in starting a scholarship program for our state dealers, employees, and their GIADA PRESIDENT families. At the banquet we gave away three $2000 scholarships to three very deserving college-bound students and Billy Graham look to expand on that in the future. What a great way to Graham Auto Sales, Inc. give back to our members! There are a lot of great things happening for independent dealers in the state of Georgia and we would love for you to be a part of our future. Please consider attending a quarterly board meeting and seeing what it’s all about. Anyone who is a member in good standing is invited to join our quarterly board meetings. You are more than welcome to sit in on committee meetings so you learn how the association operates. If you want your voice heard, this is the best way to get involved. We need good quality dealers to lead us into the future. Please contact the GIADA office if you would like to attend. Spouses and children are always welcome at GIADA, too. God bless and happy selling!

Billy

It’s finally here! You asked. We listened.

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2 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

MAXIMIZE YOUR AD EXPOSURE!

GIADA also offers website banner advertising. The GIADA website gets over 50,000 visitors and over 142,000 pageviews per quarter from top decision-makers. The exposure you could get is unmatched. Call us to advertise!

_________________ ADVERTISER INDEX

3 Ace Motor Acceptance 29 Adesa Atlanta 17 A.R.A. GPS Systems 42 Cardoozy 38 Carolina Auto Auction 16 Charleston Auto Auction 18 Frazer Computing, Inc. 19 Independent Dealer Advantage 6 Insurance Auto Auction IBC Manheim 46 Meeting Street Graphics BC NextGear Capital 48 Oakwood’s Arrow Auto Auction 30 Peoples Financial 31 Preferred Warranties, Inc. 28 Rawls Auto Auction 38 Reeves Insurance Agency 36 Southeastern Auto Auction 43 TitleTec 51 United Acceptance IFC Wayne Reaves

CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 3

THE PULSE OF GIADA

Amazing things at GIADA There are lots of great things going on with GIADA at this time. We just wrapped up what I will call GIADA’s best convention ever! 400+ GIADA EXECUTIVE dealers DIRECTOR filled our Paul John dealer training room with few seats to spare. We had 14 back to back speakers who killed it! NIADA was there video taping the entire training session, which will be available on not only NIADA.TV but also on GIADA OnDemand.com soon. On Friday morning the parking lot and the side roads at the Legacy Lodge at Lake Lanier Islands looked like a CarMax car lot. Hundreds of cars parked everywhere, hotel Valets and staff handled the situation perfectly. It was a site to see. But we managed to get everyone in the big training room just after 9am to get the day started. At 5pm, we finished our training and let the 400 + dealers into the trade expo area. The 68 (or so) Exhibitors were over run with dealers who stood in lines waiting to talk to the vendors. Some vendors were not prepared and ran out of business cards early. Overall, I think this was the best convention GIADA has ever had. And I appreciate all the Exhibitors and all the Sponsors who came because without you all, we wouldn’t have a convention.

By the time you read this article, our new GIADA OnDemand.com will be open for business and dealers will engage in a brand new way to take their CE course, now available online. We made the investment and have logged in many hours to get the GIADA Online CE course curriculum to where we want it. I want any dealer who takes the brand new GIADA Online CE class to walk away feeling that he or she really learned a lot from the experience, and actually enjoyed the experience. And the nice thing about online CE, is that we brought the class cost down for everybody, and even after you complete the six hours, you can go back to the course online as often as you need to. And that goes for your staff as well. The GIADA OnDemand platform was not created just for dealers to take their CE class online. This new site will be GIADA’s future. It will grow exponentially over time, and will become a destination point for all dealers to stay ahead of the curve, and serve as a better way to not only educate GIADA Members, but the best way for GIADA to communicate with its members in the future. Members will have 24/7 unlimited access to vital industry information as it unfolds, no matter if at the auction, in the dealership or at the beach. We hope that non-members will be compelled to join GIADA just to have access to GIADA OnDemand.com. Today’s car business is all about technology and having access to information needed to appraise a car, provide an opinion on a particular legislative issue, learn about a new law or just network with fellow dealers, GIADA will be right their with you all the way to help you succeed. Matching up the right service provider to the specific needs of our membership is also on our radar

4 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

screen. And we will be the ones to make that happen quicker and better than traditional ways. We think that the “sky is the limit,” and we are 1000% dedicated in taking GIADA to a whole new level of customer service and meeting the demands and needs of our loyal dealer members. We remain steadfast, strong and a very stable entity, and we will be fighting for you very soon at the Georgia Capital. No one knows what could be presented to our legislative leaders. We have your back, I promise you. Thanks for your continued and loyal support. We appreciate your business and are humbled every day just to have the chance be here for you every single day. We can handle any situation you throw our way. No matter how bad you feel your issue is, or how complicated your problem may be, we can help you. My staff comes to work ready to take your call, or answer your email. Nothing is too big for us to handle or help you with. n

SALES & MARKETING

3 Strategies to Help You Turn Up the Heat on Sales This Summer by Joe Mescher, Media Sales Director at Dealer.com New car sales are on pace to achieve 17,300,000 units by the end of 2015. This is due, in part, to pent-up demand from shoppers who were inclined to stay indoors during this past winter’s relentless weather – a potential recipe for summer 2015 to be the busiest in automotive retail history.

• Make sure to check the ‘location’ sec- can be configured to cater to qualified

One thing is for sure: the competition for that demand will be intense. There are steps, however, that your dealership can take to give it an edge over the other guys as you vie for shoppers’ attention.

But don’t fret. A surge in demand means there are more high quality sales leads available. Use this opportunity to drive these motivated shoppers to your dealership by turning up the dial on your ad spend (to even the ad budget scale, consider repurposing dollars from underperforming media spend). Consult your advertising specialist to determine and match the amount of leads your dealership can handle with the current share of demand you are capturing, and adjust accordingly. Your sales staff needs to appropriately work the flood incoming new leads.

It starts with your advertising strategy. Let’s examine three ways to adjust your digital advertising now to capitalize on this summer’s sales heat:

1

Align the demand you generate with your lead capacity. Search engines and research websites are now flooded with queries. This interest can translate to increased floor traffic and sales, depending on which dealerships stand out and best engage the attention of qualified buyers. With so much competition out there, it’s a shoppers’ market. To engage the most qualified shoppers, your ads will need to be compelling, timely, and relevant. To begin, test your relevance to local shoppers by following these steps:

• Visit the Google Ad Preview Tool at adwords.google.com/apt/AdPreview

• Enter the search query “[Make][Model] Near Me”

tion so your local market is targeted Your ads may not appear, even after several test searches, and even if you’ve been investing heavily in paid search. The likely culprit for this is a surge in demand that is lowering your overall coverage.

2

Configure a holistic digital ad strategy Paid search ads are a tremendously valuable advertising mechanism, but they’re capturing a lot of shoppers who have already completed at least some of their initial research. What about the other 95 percent of time that in-market shoppers are spending on their smartphones, tablets, and laptops everyday? Using metrics like searches containing “near me,” for example (a phrase that’s growth has jumped 34 times in the past four years), shoppers are identifiable through means completely separate from paid search engagement. Ad campaigns

shoppers from a proprietary list based not on their name but on digital/offline transactions and expressed interest. Talk to your advertising team to get this strategy going.

3

Ensure your landing pages are ready to engage your new traffic. How far down the process can buyers proceed without speaking to your sales professionals? Shoppers can “dive” deeper into your store, and much closer to a sale, if you: • Display accurate, dealer-controlled payments and pricing for new and used vehicles—including taxes and fees where available. • Provide loan and lease calculations using APRs from your selected lenders, manufacturer residuals, and incentives. • Include your dealership reserve and rate mark-up. • Generate instant trade-in offers that are vehicle and dealer-specific. • Drive profit-ready finance leads through short form inquiries or full credit applications. • Integrate financing and trade-in into vehicle inventory workflows. • Present insurance and aftermarket options. These options can greatly increase your dealership’s ability to take action with those leads and close more deals. It could be the difference between a 20 versus 35 percent lead-to-close ratio. We wish you continued success this summer! Don’t be afraid to drop us a line with questions or comments. n

CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 5

NATIONAL HIGHLIGHTS

NIADA Chooses Carfax for Certified Pre-Owned Vehicles The National Independent Automobile Dealers Association (NIADA) is expanding its long-standing partnership with Carfax to include the association’s Certified Pre-Owned (CPO) program. Now, NIADA CPO vehicles come with a Carfax Vehicle History Report provided free to buyers from subscribing dealers and are listed for sale on Carfax Used Car Listings. “Our dealers have spoken loud and clear that they want Carfax for our Certified Pre-Owned program,” NIADA senior vice president of member services Scott Lilja said. “Carfax Reports add another level of confidence for buyers purchasing NIADA Certified vehicles. Plus, our dealers’ certi-

fied inventory gets in front of more readyto-buy shoppers at carfax.com. We’re thrilled to give our 16,000 dealer members a resource that is proven to help sell more cars faster.” NIADA joins 38 manufacturer brands that use Carfax to build more consumer confidence in their certified cars. Wherever consumers shop – online or at an independent dealership – they should look for the free Carfax Report on NIADA Certified vehicles. “The demand for Certified Pre-Owned vehicles keeps growing every year,” said Bill Eager, vice president of the dealer business

unit at Carfax. “Carfax and NIADA are helping connect independent dealers with more confident customers that want to buy certified vehicles. With Carfax Used Car Listings, Carfax Reports and myCarfax, dealers have the tools that make it fast and easy for people to find and care for NIADA Certified vehicles.” Vehicles eligible for NIADA certification must pass a 125-point inspection and other requirements, including qualifying for the Carfax Buyback Guarantee. For more information about the NIADA CPO program, administered and insured by Warrantech, visit niadacertified.com. n

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To get started, visit our booth at the 2015 GIADA Convention or contact Pam: 2015 GIADA Convention Lake Lanier Islands Resort Friday, July 24

Pam Wangel IAA Auction Coordinator 678.920.4800 | [email protected]

© 2015 Insurance Auto Auctions, Inc. All rights reserved.

6 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

IAAI.com

Make Customer’s Drive to Your Virtual Car Lot a Breeze by John Paul Strong, Owner Strong Automotive Merchandising

Today, more consumers are researching cars online before ever stepping onto a dealer’s lot, significantly cutting down on the time spent at dealerships. In a recent Accenture survey of 10,000 automotive consumers, 62% said they researched their vehicle purchase online before contacting a dealer, while only 7% said they did not use the Internet. As websites become the primary method consumers use to evaluate dealership inventory, an excellent site design is no longer a luxury. It is essential. The creation of a great dealership web presence begins with an honest discussion: • How does your site compare with the competition? • Can users effectively engage with the content? • Are there enticing visuals? • Overall, what is being done well, and what could be done differently? Here’s how to improve website design and content. Ensure Site Is Design-Responsive A responsive-design architecture makes a dealership website look great, regardless of the device (mobile, tablet, desktop). This year, Google modified its algorithm to penalize sites that do not have responsive designs, because searches from mobile devices now exceed 50% of all search traffic. As a result, the importance of a responsive-design website is increasing every day.

As websites become the primary method consumers use to evaluate dealership inventory, an excellent site design is no longer a luxury. It is essential. Be Visual Yes, the shopper undoubtedly will want to read about the condition of the vehicle, specs and mileage, but a lack of quality and range of photos will quickly turn away web buyers. To get shoppers offline and on your lot, make sure the Internet sales and marketing team is trained in photography. Good photos bring in the educated and savvy web consumers who show up ready to buy. Bad photos will send them to your competitors. And don’t be afraid to use videos. Some customers actually prefer video as their means of digesting content, plus videos can help with search engine optimization. Create Call-to-Action on Every Page Customers aren’t as likely to become buyers if there is no online call-to-action. If a consumer has to spend too much time figuring out how to make contact with your team or purchase services, they may move on to the next dealer. Add Links Hyperlinking to other external pages builds credibility. Linking to other web-

sites also makes it more likely others will link to your site, which improves SEO. Make It Personal Chemistry always has been a critical part of the dealership customer experience. For today’s digital customer, who often decides which vehicle they want to buy before they visit a dealership, this process of building chemistry needs to begin on the web. Introductions can be made online through staff bios and pictures. Let your staff show off their personality and tell web visitors their story – what makes them unique, what their quirky traits are and how they got into the business. This gives the dealership a face and provides customers with a reason to work with your salespeople rather than a competitor’s. Stand Out Today, nearly every auto dealer realizes digital is the future and is working to build excellent websites to take vehicle sales and service to the next level. Cookie-cutter responsive design templates no longer are good enough to stand out from the crowd. The key benefits of digital marketing are measurement and flexibility, so dealers can shift their strategy quickly. So, when you plan your digital marketing strategy, don’t be afraid to try something new to stand out. n

CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 7

CONVENTION HIGHLIGHTS

Convention 2015: A Blockbuster Success!

Highest-rated, highest attendance event to date!

H

ere’s a description of what the Exhibit Hall looked like after 14 fantastic speakers facilitated dealer training to well over 400 dealers: They filed into the Exhibit Hall into what I call the “Isle of Assistance.” Each dealer was given a passport with instructions to visit as many of the booths as possible to see how each booth might be able to help him or her. There were 67 booths. If a dealer visited all of them in the 3.5 hours allotted, and then took the completed passport to the GIADA counter, the dealer would receive a ticket. This cherished ticket gleamed because the booth visitation efforts gave the dealers opportunities to win all kinds of items, including tools, battery chargers, a fishing pole, appliances, sets of dishes, and the newest types of coolers and a hair dryer (which by the way went to a man without hair). Forty to fifty dealers won gifts. And if that wasn’t enough, we had 4 high definition TV’s, 3 YETI Tundras, and the Ultimate Cooler that definitely created more excitement among those lucky enough to qualify for one of those. Our generous exhibitors went over and above with the passport prizes. Thank you, exhibitors! The three YETI Tundra coolers were valued at $350 each. If a dealer visited ASC saw Laura Sandage and put his card in their fishbowl, he then had a chance to get

a YETI Tundra cooler. Car Doozy did the same thing – drop off a card for a chance to win. BSC American Tallahassee Auto Auction offered a YETI Tundra cooler for leaving a card with them, as well. Additional large item give-aways included 4 flat screen TVs. Exhibitors who participated in those wonderful giveaways were Floorplan XPress and Dealer Funding. National Auto Lender offered (2) TVs. These were truly awesome gifts; however, other exhibitors gave away spendable gifts, too. Those exhibitors offering gift card prizes were United Acceptance, that gave away a $100 Visa Gift Card, IAA that away a $50 Gift Card, and Preferred Warranty that away a $200 gift card. The law firm Jacob and King gave away the newest creation from Apple…an Apple watch! AFC gave away an XBOX and threw in some games to go with it. Nice! After the generous giveaways were done, we heard from Tom Hudson, wellthought-of Attorney from Hudson & Cook. Tom answered questions all day at no charge and even let Shaun Peterson, NIADA’s attorney, help man the booth after he and Tom spoke to the dealer training group. Tom Hudson donated 6 of his books to the Auxiliary Silent Auction. (Yes, he signed them, too!) Justin from

8 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

Title Tec, who’s always very generous, donated to five lucky dealers a free month of service. Many exhibitors attended the convention and participated in the activities, all determined to give away stuff and make the event memorable for the dealers. I don’t have room in this article to name all of them here, but if you golfed, you could have won a day of golf plus carts for 4 at Château Leon, compliments of Oakwood’s Arrow Auto Auction. Much better than walking! Next year, be there! Don’t miss it! All dealers should bring 70+ business cards for the fishbowls located at each exhibitor’s booth. Don’t just come to get stuff…plan to visit the exhibits to improve the bottom line. Look at it this way: a gift card for some cold stuff to fill the new YETI Tundra cooler and watch the new flat screen TV until the new Apple watch announces it’s time for bed. The next morning use the new hair dryer before watching the new fishing pole bobbing in the water while reading a new Tom Hudson book. I can’t think of a better way to spend recreational time than relaxing and learning. More importantly, thanks to all of the dealers for taking time from your business schedule to sharpen your axe. What a great GIADA convention and YOU made it happen. See you next year! n

CONVENTION HIGHLIGHTS

...we kicked it off with golf!

thanks! CONVENTION SPONSORS ADESA Atlanta Autotrader.com Carfax Cox Automotive Frazer Computing Inc. Go Financial Hamilton State Bank Innovate Auto Finance Manheim Auctions NextGear Capital Patriot Automotive Consultants Peoples Financial TitleTec vAuto CONVENTION EXHIBITORS A.R.A GPS Systems ADESA Atlanta AMAC Ace Motor American Credit Acceptance American Motor Credit LLC America’s Auto Auction ASC Warranty Auction Credit AUL Corp Auto Master Systems, Inc. Auto Use

Automotive Capital Resources Automotive Dealers Finance Automotive Finance Corporation AFC AutoRevo AutoTrader Black Book BrandAuto Finance BSC America Tallahassee Auto Auction CAR Financial Services, Inc. CarDoozy Cars.com CoVideo by Easy Care Dealer Center Dealer Funding LLC DealerSocket Equifax Firstdata / Sun Trust Merchant Services Floorplan Express Go Financial Goldstar GPS Guided by Spireon Hudson Cook, LLP and Counselorlibrary.com Independent Dealers Advantage IDA Insurance Auto Auction IAA Jacobs & King Manheim Auctions Microbilt NABD

National Auto Lenders Nationwide SE Acceptance Corp. NextGear Capital Oakwood’s Arrow Auto Auction OnStar Preferred Warranties Inc. ProGuard Warranty Reeves Insurance Associates Inc. Route One LLC SiriusXM Radio Skypatrol SmartAuction Southeastern Auto Auction Strategic Dealer Services Tag Financial Services Tax Refund Services Tax Max TitleTec TJS Deemer Dana LLP TrueCar United Acceptance, Inc. vAuto Vehicle Acceptance Corp. Verfacto, LLC Victory Recovery Services Wayne Reaves Software Williams & Stazzone Insurance Agency

CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 9

CONVENTION HIGHLIGHTS

...96 players in the tournament!

thanks! Hospitality Suite Sponsored By: Innovate Auto Finance

GIADA Hospitality Suite Sponsored By: TitleTec ADESA Atlanta CE Dealer Training Sponsored By: Cox Automotive Autotrader.com Go Financial Manheim Auctions NextGear vAuto

Registration and Welcome Desk Sponsored By: Cox Automotive

Continuing Education Dealer Training Lunch Sponsored By: TitleTec

CE Dealer Training Breakfast Sponsored By: Frazer Computing Hamilton State Bank Patriot Automotive Consultant

Buffet Breakfast Sponsored By: Hamilton State Bank Patriot Automotive Consultant Frazer Computing

ACTIVITY SPONSORS Casino Night Sponsored By: Carfax Kids Club Sponsored By: Peoples Financial International Credit Inc

Silent Auction Sponsored By: GIADA Auxiliary

10 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

Board of Directors Meeting Sponsored By: Patriot Automotive Consultant Hamilton State Bank Frazer Computing President’s Cocktail Reception Sponsored By: Cox Automotive TitleTec Grand Banquet and Leadership Awards Sponsored By: Cox Automotive AutoTrader.com Go Financial Manheim Auctions NextGear vAuto

CONVENTION HIGHLIGHTS

...tons of winners, tons of fun!

CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 11

CONVENTION HIGHLIGHTS

...Friday was Dealer CE Training

12 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

CONVENTION HIGHLIGHTS

...over 400 dealers showed up!

CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 13

CONVENTION HIGHLIGHTS

...the Trade Expo was booked solid, 67 booths!

14 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

CONVENTION HIGHLIGHTS

...Casino Night is always a favorite!

CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 15

CONVENTION HIGHLIGHTS

...the Grand Banquet closed out the event!

16 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

CONVENTION HIGHLIGHTS

...awards and success for the future!

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CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 17

CONVENTION HIGHLIGHTS

...we look forward to seeing you in 2016!

18 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

MARKET CONDITIONS

Kontos Kommentary, July 2015 Current Used Vehicle Market Conditions

Summary For the third month in a row, average wholesale used vehicle prices fell significantly on a month-over-month basis, falling below $10,000 for the first time this year. Supply growth continues to put downward pressure on prices despite strong demand driven by relatively high levels of retail used vehicle sales, especially for certified pre-owned (CPO) vehicles. Details According to ADESA Analytical Services’ monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class1, wholesale used vehicle prices in July averaged $9,878 – down 3.3% compared to June, although up 1.4% relative to July 2014. Low fuel prices appear to be preferentially benefiting pickup truck values, which rose 2.2% month over month, while luxury car prices took a 9.6% month-over-month hit.

Wholesale Used Vehicle Price Trends Average Prices ($/Unit) Jul-15 Jun-15 Jul-14 Total All Vehicles

Latest Month Versus: Prior Month Prior Year

$9,878

$10,215

$9,743

-3.3%

1.4%

Total Cars Compact Car Midsize Car Fullsize Car Luxury Car Sporty Car

$8,507 $7,107 $7,630 $7,306 $11,730 $12,520

$8,883 $6,892 $7,806 $7,245 $12,982 $13,581

$8,642 $6,708 $7,864 $6,854 $12,117 $12,578

-4.2% 3.1% -2.3% 0.9% -9.6% -7.8%

-1.6% 5.9% -3.0% 6.6% -3.2% -0.5%

Total Trucks Mini Van Fullsize Van Mini SUV Midsize SUV Fullsize SUV Luxury SUV Compact Pickup Fullsize Pickup

$11,344 $6,842 $12,423 $13,569 $7,972 $11,091 $17,765 $7,916 $14,745

$11,536 $7,399 $12,870 $13,655 $8,049 $11,451 $19,731 $8,162 $14,433

$10,318 $6,375 $10,967 $12,143 $7,376 $10,221 $19,295 $7,445 $12,966

-1.7% -7.5% -3.5% -0.6% -1.0% -3.1% -10.0% -3.0% 2.2%

9.9% 7.3% 13.3% 11.7% 8.1% 8.5% -7.9% 6.3% 13.7%

Total Crossovers Compact CUV Mid/Fullsize CUV

$11,577 $10,431 $12,458

$11,998 $10,609 $13,031

$12,154 $10,924 $13,409

-3.5% -1.7% -4.4%

-4.7% -4.5% -7.1%

Source: ADESA Analytical Services. June data revised.

Average wholesale prices for used vehicles remarketed by manufacturers were down 10.2% month-over-month and 14.7% yearover-year, as prices for off-rental program vehicles continue to be negatively affected by abundant supply. (The same goes for off-rental risk vehicles.) Prices for fleet/ lease consignors were up a modest 0.3% sequentially and down 0.2% annually. Dealer consignors saw a 7.6% price decrease versus June and a 1.9% decrease relative to July 2014. Data from NADA showed an 11.6% yearover-year increase in used vehicle sales by franchised dealers and a 15.0% increase for independent dealers in July. CPO sales were up 4.2% month-over-month and 11.0% year-over-year, according to figures from Autodata. n CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 19

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SALES AND MARKETING

Reviews are the “Tool to Use” by Steve Santospago, DealerRater

There are lots of reasons that drive someone to own and run a business and those motivators are as differing as the folks who have founded and operate them. To create wealth, to develop their own ideas and do it “their way,” frustration with the lack of freedom when working under others etc..etc..etc. In my conversations with business owners a few more compassionate reasons come up as well. They want to nurture employees, provide a source of income and create an environment where employees can grow and perform not just job duties but, to develop a career. Those later mentioned reasons are very difficult to provide and to successfully execute in the automotive industry. There are few resources available to enable one to truly give back to their employees. Sure, you can offset the cost of education which is a nice gesture. But, in doing that you may also be propelling them to leave once that education is completed and you as an owner may not see the business benefits. You can enroll them in local early morning breakfast clubs where they may meet other local folks and they can network a bit. You may also include their photo within the advertisement you take out in the inventory picture books. But, none of those ideas really do much to help build your staff’s book of business or to develop a healthier culture at your store. I would like to offer an idea and present a concept that may be new to many of you reading this but, one that has been tried,

tested and proven to work. It will allow you to give your sales staff the ability to build their own brand within your brand. To attract clientele organically and to allow your staff to utilize the most powerful tool in sales. If adopting this concept you will help them utilize the power of trust. The idea involves creating a “Review Centric” marketing strategy. It will allow you to give something to your employees that your competition may not have thought of. In turn you can hope to retain them longer, create and maintain a positive culture and yes, it will help you to sell more cars too. The words that your clients want to share with others are the most persuasive and effective marketing tool you can ever have. Short of allowing a satisfied client to stand in your showroom all day talking to those who come in reviews found online allow consumers to not only select a dealership but, also allow them to even choose the salesperson to contact and work with. Over 80% of consumers say they trust third party reviews more than the recommendations of family and friends. That is a lofty statement but, it is accurate and very, very true. Forthright and honestly written testimonials are perceived by those who shop online as being the most useful information they can absorb when choosing which dealership to do business with. When your staff utilizes this strategy and execute tactics on their own amazing things will happen.

Here are some statistics you may find interesting. They were derived from a survey of salespeople who are utilizing a Review minded approach and who have searchable Employee Profile Pages on the web. • 84% said their reviews helped the dealership sell more cars • 79% said their Employee Profile Page helped them sell more cars • 58% said that customers asked for them by name Consumers are not just looking for cars, they are not just looking for dealerships they are also looking for the person to conduct the transaction with and reviews and what they contain fuel those choices. It used to be that folks looked at the newspaper classified or display ads. It used to be that folks did not get to interact with your staff until they called or came into the dealership. It used to be that someone 200 miles from you wouldn’t want to drive that far to buy a car. The Internet has changed everything. Take advantage of this and let your employees shine online. Help them have customers come in and ask for them by name. Helping them to do this will help you as well. Don’t be the dealer who rests on the ideas of yesterday, don’t be ancient minded be open minded. Adopt a “Review Centric” mindset, you will be glad you did. If you have any questions about this topic please feel free to reach me at [email protected]. I would love to talk to you about your business. n

CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 21

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BAR A SERVICE PROVIDER DIRECTORY

GIADA service providers are best in class. We invite you to explore their services and please mention that you saw their listing in the magazine. ACCOUNTING & TAX PREPARATION Galanti & Company, P.C. 770-393-0399 Accounting Services, Tax Preparation, Litigation Support galanticpa.com Georgia Infinity Services 678-349-4158 My Dealer CPA 770-500-5341 mydealercpa.com Robert L. Burt, CPA 205-752-3001 Accounting Tax Refund Services Tax Max Tax preparation and electronic filing for the car dealer (866) 642-4107 taxrefundservices.com TJS & Company, LLC Cristi Jones 478-272-2030 Accounting Services [email protected] US Trust 404-264-2817 Tax Advisory ustrust.com

ADVERTISING American Hole ‘N One 800-822-2257 Advertising, Promotional & Marketing ahno.net

AutoTrader.com 800-353-9350 Automotive Classifieds autotrader.com Best Response Media LLC 770-318-3401 Automotive Classifieds Publication autofocusatlanta.com Cars.com 800-298-1460 Automotive Classifieds cars.com DealerRater 781-697-3661 Car Dealer Review Website dealerrater.com

AFTERMARKET eCONTRACTING F & I Express 404-759-5479 [email protected] fandiexpress.com

AUCTIONS 411 Auto Auction 770-336-5581 Wednesday 12:00 pm 411autoauction.com Adesa Atlanta SEE OUR AD ON PAGE 29 770-357-2277 Wednesday 10:00 am adesa.com

22 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

Albany Auto Auction 229-435-7708 Thursday 6:30 pm albanyautoauction.net America’s Auto Auction Atlanta 770-382-1010 Tues. 6:00 pm Dealer/ Public Sale Friday 11:00 am Dealers Only auctionbroadcasting.com America’s Auto Auction – Greenville 864-801-1199 / 800-859-3393 Friday 10:00 am Car Sale 3rd Tuesday 2:00 pm Marine Sale 3rd Wednesday 9:00 am RV Sale americasautoauction.com America’s Auto Auction – Jacksonville 904-764-7653 Tuesday 6:00 pm INOP Sale & 6:30 pm Dealer Only Sale americasautoauction.com Athens Auto Auction 770-725-7676 Tues. 6:30 pm Dealer/ Public Sale athensautoauctionga.com Auction123.com 954-558-5337 Augusta Auto Auction 800-536-3234 Wed. 10:00 am Dealer Sale Last Wednesday of Month 9:30 am INOP Sale augustaautoauction.com

CarMax Auctions 888-804-6604 Dealers Only Auctions; Visit carmaxauctions.com for Locations, Dates and Times Carolina Auto Auction SEE OUR AD ON PAGE 38 864-231-7000 Wednesday 10:00 am Salvage Sale every other Wednesday 9:00 am carolinaautoauction.com Charleston Auto Auction SEE OUR AD ON PAGE 16 843-719-1900 Friday 10:00 am Dealer Sale charlestonautoauction.com Chattanooga Auto Auction 423-499-0015 Tuesday 9:00 am chattaa.com Columbus Auto Auction 706-320-2200 Tuesday 5:45 pm Dealer Sale columbusgeorgiaautoauction.com Copart Auto Auction – Austell 770-941-9775 Fri. 12:00 pm Dealer/ Public Sale copart.com Copart Auto Auction – Loganville 770-554-6366 Mon. 12:00 pm Dealer/ Public Sale copart.com

serviceproviderdirectory Georgia-Carolina Auto Auction 706-335-5300 Wed. 6:30 pm Dealer/ Public Sale Fri. 6:30 pm Dealer/ Public Sale gcautoauction.com

Insurance Auto Auction Tifton 229-386-2640 Monday Bi-Weekly 9 am iaai.com

Go Auto Exchange Atlanta 404-464-4567 Wednesday 12:30 P.M. goautoexchange.com

Insurance Auto Auction Savannah – Rincon 912-826-1219 Every other Friday 9:30 am iaai.com

Houston Auto Auction 478-788-6947 Wednesday 11:00 am & 7:30 pm Sat. 7:30 pm Dealer & Public Sale Hudson & Marshall, Inc. 478-743-1511 Auction/Liquidator [email protected] Hwy 515 Auto Auction 706-635-1500 Tues 6:00 pm Dealer & Public Sale hwy515autoauction.com Insurance Auto Auctions – Atlanta South SEE OUR AD ON PAGE 6 678-920-4800 1st Wednesday 9:00 am Specialty Sales (RV, ox Truck, Trailers) Dealer & Fleet Sale iaai.com Insurance Auto Auction Atlanta/Loganville 770-784-5767 Fridays 9:00 am iaai.com Insurance Auto Auction Atlanta East – Winder 770-868-5663 Thursdays 9 am Motorcycle Sales 1st Mon. 9 am iaai.com Insurance Auto Auction Atlanta North - Acworth 770-975-1107 Tuesdays 9 am iaai.com Insurance Auto Auction Macon 478-314-0031 One Monday per Month at 9:30 am iaai.com

JJ Kane Auctioneers, Inc. 678-840-4914 Call for Sale Times jjkane.com L W Benton Company 478-744-0027 Bidderone.com Manheim Atlanta SEE OUR AD ON THE INSIDE BACK COVER 404-762-9211 Every Thursday 9:30 am Highline Sale 4th Wed. 9:30 am Every Tuesday 12:30 pm manheim.com Manheim Georgia 404-349-5555 1st, 3rd, & 5th Monday 10:00 am Tuesday 9:00 am – Dealer Every Other Tuesday 8:30 am Disable Sale manheim.com Manheim Statesville 800-868-1220 Tuesday 9:30 am Tuesday TRA Sale 8:30 am manheim.com

Peach State Auto Auction 770-466-9000 Monday & Wednesday 6:00 pm peachstateautoauction.com Rawls Auto Auction SEE OUR AD ON PAGE 28 803-657-5111 Tuesday 10:00 am rawlsautoauction.com Rebel Auction Company 912-375-3491 / 800-533-0673 Second Thursday of Month 9am rebelauction.net Ritchie Brothers Auctioneers 770-304-3355 Industrial Equipment Auction rbauction.com SmartAuction 770-686-4735 Online Auto Auction / Mobile App smartauction.biz South Georgia Auto Auction 229-439-0005 Thursday 11:00 am southgeorgiaautoauction.com Southeastern Auto Auction of Savannah SEE OUR AD PAGE 36 912-965-9901 Wednesday – In Ops 10:00 am Repos 10:30 am & 11:00 am southeasternaa.com Tallahassee Auto Auction 850-878-6200 Friday 10:00 am Dealer Sale bscamerica.com

New Calhoun Auto Auction 706-624-1944 Wednesday 7:00 pm newcalhounautoauction.com

Truckcenter.com 404-627-5346 See Website For Dates & Times truckcenter.com

Oakwood’s Arrow Auto Auction SEE OUR AD ON PAGE 48 770-532-4624 Thursday 6:00 pm oakwoodsarrowautoauction.com

V.I.P. Auctions 678-889-7776 myvipauctions.com Metro Atlanta New Car Trades

Online Public Auction.com 800-963-1672 6728 Hwy 85 STE C-2 Riverdale, GA 30274 onlinepublicauction.com

BANKING

Independent Bank 423-883-1503 i-bankonline.com Peach State Federal Credit Union - Lawrenceville 678-889-4328 peachstatefcu.org US Trust 404-264-2817 Private Banking ustrust.com

CAR BUYING SERVICE Autonation Direct 954-769-7000 autonation.com DealerMatch 1-800-457-4404 Network to provide dealer to dealer buying & selling dealermatch.com

CHARITABLE ORGANIZATIONS Tommy Nobis Center Fund 770-427-9000 Vehicle Donation Program Supporting Job Training tommynobiscenter.com

COMPLIANCE SOLUTIONS RouteOne, LLC 248-229-5170 Compliance and Red Flag Tools routeone.com

COMPUTERS / NETWORKING Proficient Solutions, Inc. 770-942-8867 IT Support for any size Network, Upgrade, Virus Removal, & Troubleshooting proficient-solutions.com

Hamilton State Bank 678-719-4572 Lines of Credit hamiltonstatebank.com

CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 23

serviceproviderdirectory CREDIT CARD PROCESSING SERVICE Flat Rate Processing 1-888-592-1110 5825 Glenridge Drive Ste-226 Atlanta, GA 30328 flatrateprocessing.com Protec Merchant Solutions 1-800-508-3496 protecmerchantsolutions.com Suntrust/ First Data 404-281-8641 Merchant Services firstdata.com

CREDIT REPORTS Equifax 770-522-5650 Credit Reports equifax.xom Microbilt Corp. 866-834-2975 Credit Reports microbilt.com RouteOne, LLC 248-229-5170 Web-Based Credit Applications routeone.com

DEALER INVENTORY MANAGMENT Auction123.com 954-558-5337 Online Inventory Management & Data Distribution auction123.com

DEALER LEADS PROVIDER TrueCar truecar.com

DEALER MGMT SYSTEMS ABCoA/ Deal Pack 800-526-5832 Sales, Finance, Acct, S&P and Leasing Software dealpack.com Autostar Solutions, Inc. 800-682-2215 Dealer Management Systems, Software, Svc., & Repair autostarsolutions.com

Car Dealer Software by Wayne Reaves SEE OUR AD ON THE INSIDE FRONT COVER 800-701-8082 Computer Software waynereaves.com Comsoft 800-849-3838 “Monymaker” Software Emphasizes Compliance, Reporting, Profitability, etc. comsoft.com Dealer Lead Track 800-385-3584 Lead Management Systems dealerleadtrack.com

Wayne Reaves Computer Systems SEE OUR AD ON THE INSIDE FRONT COVER 800-701-8082 Dealer Management Systems and Dealer Website Provider waynereaves.com

DEALER TRAINING NABD BHPH Academy 713-290-8171 Collection Academy bhphinfo.com

DEALER WEBSITE PROVIDER

ADS of Georgia 404-316-3299 – Tom Sanvido Financing [email protected] ALS Dealer Funding 337-706-3337 alsdealerfunding.com All-American Capital Group, LLC 404-949-0002 Financing Buy-Here Dealers allamericancap.com Allcredit Acceptance 866-803-5128 Financing needs for Independent Used Auto Dealers & Customers allcreditacceptance.com

Dealer Platform.COM 866-433-2643 Dealer Websites: 3 Steps, 5 Minutes dealerplatform.com

Nowcom Corp/ DealerCenter 888-669-2999 Dealer Mgmt Software Solutions dealercenter.net

Alliance Finance Inc. 770-435-6669 Personal & Automobile Loans From $50 to $10,000

DealerSocket 866-813-1429 dealersocket.com

Professional Mojo 866-611-2715 professionalmojo.com

American Credit Acceptance 866-544-3430 americancreditacceptance.com

Wayne Reaves Computer Systems SEE OUR AD ON THE INSIDE FRONT COVER 800-701-8082 Dealer Management Systems and Dealer Website Provider waynereaves.com

Auto Funding Group 770-587-2347 Point of Sale and Sub-prime Financing autofundinggroup.com

DealerTrack-RTS 860-448-3177 us.dealertrack.com Frazer Computing SEE OUR AD ON PAGE 18 888-963-5369 Computer Software frazer.biz Nowcom Corp/ DealerCenter 888-669-2999 Dealer Mgmt Software Solutions dealercenter.net Rent to Own Software by Wayne Reaves SEE OUR AD ON THE INSIDE FRONT COVER 800-701-8082 Dealer Management Systems and Dealer Website Provider waynereaves.com RouteOne, LLC 248-229-5170 Dealer Management Systems routeone.com TitleTec SEE OUR AD ON PAGE 43 866-689-0578 Business, Title & Registration Software titletec.com

24 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

DOCUMENT IMAGING SERVICES ESS Imaging, LLC 351 Thornton Road, Suite 121 Lithia Springs, Georgia 30122

EMISSIONS Georgia’s Clean Air Force 800-449-2471 cleanairforce.com

FINANCE COMPANIES Ace Motor Acceptance Corp. SEE OUR AD ON PAGE 3 704-882-7100 Ext 7509 BHPH Lending / Funding for Contracts acemotoracceptance.com

Auto Use 678-480-5012 Subprime Retail Financing autouseautoloan.com Automobile Acceptance Corporation 678-284-5326 Financing needs for your customers autoacceptance.com Automotive Dealers Finance, Inc. 678-739-2059 dealersfinance.com Automotive Finance Corporation 888-610-2323 afcdealer.com Barnett Finance Company 912-692-0008 Providing Sub-prime Financing with Quick Callbacks, Fast Funding, and Flexible Terms barnettfinance.com

serviceproviderdirectory Brand Auto Finance 770-277-8101 Indirect Auto Financing thebrandbank.com Car Financial Services 877-570-8857 Account Purchasing carfinancial.com Credit Acceptance 706-231-2028 Quick Subprime Financing creditacceptance.com Dealer Funding, LLC 877-538-5492 Secondary Financing dealerfundingllc.com Dealership Capital Partners Inc. 478-254-2477 Financing for Buy-Here-Pay-Here Dealers dcp3535.com Federal Financial Services 678-519-3615 Financing ffsnc.com First Peachtree Finance Co. 404-255-0496 Acct. Purchase Program Independent Dealers Advantage SEE OUR AD ON PAGE 19 678-720-0555 Providing Sub-Prime Financing when others cannot International Credit, Inc. 678-325-5154 Working with Car Dealers for their Customer’s Financing Needs internationalcreditInc..com JBS Finance Inc. 678-889-7782 Indirect Auto Loan Specialists jbsfinance.com National Auto Lenders 305-822-2886 Non-Prime Auto Financing to Help Dealer Partners nalenders.com Nationwide Acceptance Corp 770-935-5626 Secondary Finance nac-loans.com

Peach State Federal Credit Union – Lawrenceville 678-889-4328 Auto Loans peachstatefcu.org Peoples Financial Corp. SEE OUR AD ON PAGE 30 770-422-2735 Auto Loans, Direct or Indirect, Secondary peoplesfinancial.net Peoples Financial Corp – Mableton 770-948-6110 Auto Loans, Direct or Indirect, Secondary peoplesfinancial.net Peoples Financial Corp – Valdosta 229-242-6620 Auto Loans, Direct or Indirect, Secondary peoplesfinancial.net Perfect Financial Solutions 404-969-3092 [email protected] Peritus Portfolio Services 866-831-5954 Financial Services peritusservices.net ProCredit Express procreditexpress.com [email protected] Professional Financial Services of GA LLC pfs-corp.net Road Auto Finance (888) 237-3189 [email protected] roadautofinance.com RouteOne LLC 248-229-5170 Access to Finance Sources & Web-Based Credit Application routeone.com Select Automotive Management LLC (941) 907-8381 samfundsnow.com Small Dealers Assistance 404-352-9936 Acct Purchase Program sdainc.net

Spartan Financial Partners 855-233-3605 BHPH Line of Credit Spartan-Partners.com Sterling Credit Corp. 706-830-3045 Buy Bulk Receivables sterlingcreditcorporation.com Style Financial Acceptance 770-949-8598 Acct. Purchase Program, Point of Sale, Bulk Tag Financial Services Inc. 678-324-1454 Acct. Purchase; Sub-prime Auto Financing tagautoloan.com U.S. Auto Credit Corporation 877-280-9267 usautocreditcorp.com [email protected] United Acceptance, Inc. SEE OUR AD ON PAGE 39 877-281-2360 Acct. Purchase, Bulk Receivables unitedacceptance.com United Consumer Finance, Inc. 508-923-0289 Non-recourse sub-prime [email protected] Vehicle Acceptance Corp. SEE OUR AD ON PAGE 51 770-537-3434 Financing for Buy Here Pay Here dealers vacorp.com Wells Fargo Dealer Services 770-250-2405 Auto, Commercial & Real Estate Financing – Floor Planning – F & I – Banking Services wellsfargodealerservices.com Westlake Financial Services 888-389-3532 westlakefinancial.com

FINANCIAL PLANNING UBS Century Wealth Consulting Group 404-848-2601 Investments [email protected]

US Trust 404-264-2817 Investments ustrust.com

FLOOR PLAN COMPANIES Ace Motor Acceptance Corp. SEE OUR AD ON PAGE 3 704-882-7100 Ext 7509 Funding for Contracts/ Floor Planning for Inventory acemotoracceptance.com Auction Credit 770-336-7880 [email protected] auctioncredit.com Auto Use 678-480-5012 Floor Planning autouseautoloan.com Automotive Dealers Finance Inc. 678-739-2059 BHPH Note Purchasing, Floor Planning dealersfinance.com Automotive Finance Corporation 770-805-4155 Floor Planning afcdealer.com Carbucks 864-527-7147 Floor Planning cbfloorplan.com Floor Plan Xpress 404-548-5041 Independent Floor Planning Fpxus.com NextGear Capital, Inc. SEE OUR AD ON THE BACK COVER 888-969-3721 [email protected] nextgearcapital.com Vehicle Acceptance Corp. 770-537-3434 Financing for Buy Here Pay Here dealers

CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 25

serviceproviderdirectory Wells Fargo Dealer Services 770-250-2405 Auto, Commercial & Real Estate – Floor Planning – F & I – Banking wellsfargodealerservices.com

Christopher Eells 770-971-8452 Bonds, Gar Liabilities, Dlrs Open Lot, Wkrs Comp, Property [email protected] myinsurancedealer.com

Ron E. Widener & Associates 770-941-0293 Bonds, Gar. Liability, DOL, WC, Prop & Rental Car Insurance ronwidener.com

GPS TRACKING PAYMENT PROTECTION DEVICES

Cornerstone Insurance Group 800-257-9999 Bonds, Gar. Liability, Dlrs Open Lot, Prop, Tow Trks, Business Auto dealergarageinsurance.com

Surety Bond Girls, LLC 678-694-1967 Surety Bonds, Title Bond Delivery In Atlanta Area [email protected] suretybondgirls.com

ARA GPS Systems SEE OUR AD ON PAGE 17 770-871-0051 aragps.com INILEX Inc. 480-889-5676 GPS Systems inilex.com ITURAN USA Inc. 954-484-3806 GPS Tracking ituranusa.com Passtime 877-PASSTIME Vehicle Tracking passtimeusa.com

D. Ward Insurance Debbie Ward 770-974-0670 Since 1988 All Types Business & Personal dwardinsurance.com Farmers Insurance 770-810-6311 Stacey A. Divers-Turner farmers.com Georgia Insurance Associates Martha Fullwood 678-985-0944 Bonds, Gar. Liability, Dlrs. Open Lot, Wkrs Comp, Prop, Life, Health, Retire, Home, Auto georgiains.com

SkyPatrol GPS LLC 312-316-727 skypatrol.com

Hardegree Insurance Agency 770-390-0888 Garage Liability, Auto Inventory, and Bonds hardegreeinsurance.com

Spireon 866-655-8825 Vehicle Tracking goldstargps.com

The Hensley Agency 770-614-7041 [email protected]

INSURANCE Absolute Surety, LLC 407-674-7940 Surety Bonds absolutesurety.com ADS of Georgia 404-316-3299 – Tom Sanvido Insurance Services [email protected] American Risk Services 678-366-7279 Customized Collateral Insurance for BHPH Dealers & Finance Companies americanriskservices.com

Mall of Georgia Service Solutions 678-804-2111 Mogsolutions.com

The Surety Group 1-844-4eBonds suretygroup.com [email protected] Williams and Stazzone Insurance Agency Inc. 800-868-1235 x114 Liability, Dealers Ins, Rental, Workers Comp, Health, etc… wsins.com Zurich Insurance 678-516-6864 Bonds, Rental, RV, Gar. Liability, Open Lot, Property zurichna.com

INSURANCE MONITORING Verifacto 678-640-1004 Online Insurance Management, Tracking, Communication, and Verification System verifacto.com

LEGAL

Peach State Federal Credit Union – Lawrenceville 678-889-4328 Auto, Home, Long-term Care, Accidental Death peachstatefcu.org

Casey Gilson, P.C. Jonathan Granade 770-512-0300 caseygilson.com

Pearl Insurance 1-866-679-0891 Dealership Insurance PearlInsurance.com

Franzen & Salzano, PC 770-248-2882 General Counsel franzen-salzano.com

Reeves Insurance Associates SEE OUR AD ON PAGE 38 770-949-0025 Bonds, Gar. Liability, Dlrs Open Lot, Wkrs Comp, Property, Life, Health, Retirement, Tow Trks reeves-ins.com

Lefkoff, Rubin & Gleason, PC 404-869-6900 Creditors’ Rights, Bankruptcy, Foreclosures and Collections lrglaw.com

26 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

Macey, Wilensky & Hennings 404-584-1200 230 Peachtree Street NW Suite 2700 Atlanta, GA 30303 Maceywilensky.com

ONLINE MARKETING AutoTrader.com 800-353-9350 Automotive Classifieds autotrader.com Cars.com 800-298-1460 Automotive Classifieds cars.com Carsforsale.com 1-866-388-9778 Online Advertising carsforsale.com Nowcom Corp/ DealerCenter 888-669-2999 Dealer Mgmt Software Solutions dealercenter.net

PAINT & BODY Amerifleet Transportation 404-432-4611 Auto Detailing & Body Work on Vehicles In Route or in Temporary Storage amerifleet.com AP Auto Repair Shop Douglasville, GA 404-519-3560 Courson’s Paint & Body Shop 912-367-4226 Body Shop Davis Auto Body & Paint Stone Mountain, GA 770-695-0015 Hwy 78 Body Shop, Inc. 770-948-8605 Body Shop Peachstate Paint & Collision 770-949-9244 Paint & Collision Specialist

serviceproviderdirectory PARTS & SERVICE Amerifleet Transportation 404-432-4611 Repair & Maintenance on Vehicles In Route or Temp Storage amerifleet.com AutoTune Inc. 678-284-5311 Automotive Repair [email protected] AutoZone 1-866-727-5317 AutoZone Sales Center [email protected] Kauffman Tire 404-762-4944 Tires, Wheels, & Vehicle Services kauffmantire.com

PRINTING CarDoozy SEE OUR AD ON PAGE 42 [email protected] cardoozy.com 855-745-3669 DSI 770-434-8221 Full Service Printing Company, Stationary, Brochures, Postcards, Direct Mail and Forms datasuppliesInc..com

PROMOTIONAL & MARKETING Accessory Distributing 770-745-8446 Key Tags, Chemicals, Pin stripping, Magnets yeagersadc.com Allied Corporate Image & Textile alliedcorporateimage.com [email protected] 404-931-6419 CarDoozy SEE OUR AD ON PAGE 42 [email protected] cardoozy.com 855-745-3669

Meeting Street Graphics SEE OUR AD ON PAGE 46 205-497-0520 Personalized Drive-Out Tags cartags4less.com

RECONDITIONING & ACCESSORIES Accessory Distributing 770-745-8446 Key Tags, Chemicals, Pin stripping, Magnets yeagersadc.com Advance Chemical Products 404-361-5333 Detail Supplies Ardex of Atlanta Inc. ardexofatlanta.com Usedcarsupplies.com 770-448-6982

RECYCLING Hallman Recycling 706-485-6951

RENTAL CAR COMPANIES Enterprise Leasing Co Southeast 803-749-6153 Vehicle Rentals enterprise.com Rent-A-Wreck/ Priceless Rent A Car 770-321-4409 Used Car Rental Company rentawreck.com

RENTAL CAR BUSINESS Assoc Car Rental Sys (ACR) 770-948-1731 Rent-A-Car Training & Insurance ronwidener.com Independent Car Rental (ICR) 800-348-3624 Rental Software & Insurance independentcar.com Penske Truck Leasing 610-775-6099

REPOSSESSION & SKIP TRACING Collateral Investigative Services Professional Skiptracing & Repossession Specialist Christine Stone 770-516-2755 Hill & Associates 770-499-1801 Automobile Repossessions The American Recovery Association, Inc. 972-755-4755 Repossessions, Collateral Transportation & Liquidation, Skip Tracing, Collections & More repo.org Victory Recovery ServicesNationwide Skip Tracing & Repossession Mark Hall 1-88-889-6261 vrs-corp.com

SATELLITE RADIO SiriusXM Radio siriusxm.com

SECURITY

AUL Corp 404-995-6881 Service Contracts aulcorp.com GWC Warranty 800-482-7357 Service Contracts gwcwarranty.com Paradigm Disruptor Wheel and tire insurance, Pre-paid maintenance and Gap Insurance. [email protected] Patriot Automotive Consulting Service Contracts, Portfolio Acquisitions, Reinsurance & Profit Sharing. patriotautomotiveconsulting.com 704-953-6549 Penn Warranty Corp 570-899-5251 Service Contract Provider pennwarrantycorp.com Preferred Warranties SEE OUR AD ON PAGE 31 800-548-1121 Warranties warrantys.com ProGuard Warranties 570-414-0431 proguardwarranty.com

Proficient Solutions, Inc. 770-942-8867 High Resolution Security Cameras proficient-solutions.com

Strategic Dealer Services 214-838-1212 Warranty & Marketing for the BHPH dealers

United Security Alliance,Inc. 866-620-0505 usasolutions.com

Wells Fargo Dealer Services 770-250-2405 Services, Warranty Solutions wellsfargodealerservices.com

SERVICE CONTRACT PROVIDERS, WARRANTY ADS of Georgia 404-316-3299 – Tom Sanvido Extended Warranty [email protected] ASC Warranty, Inc. 800-442-7116 Service Contracts ascwarranty.com

SOCIAL MEDIA &/or ONLINE REPUTATION MONITORING DealerRater 781-697-3661 Car Dealer Review Website dealerrater.com Professional Mojo 866-611-2715 Online marketing portfolio creation and management professionalmojo.com

CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 27

serviceproviderdirectory TELECOMMUNICATIONS & PHONE SYSTEMS Proficient Solutions, Inc. 770-942-8867 Make sure your calls get answered proficient-solutions.com

TITLE SERVICES Avanco Tag & Title Service 404-768-7162 Title and Registration Services avancotagtitle.com Ron E. Widener & Associates 770-941-0293 Title Processing, Dealer Tags, Title Bonds, & Training ronwidener.com Southern ELT 888-675-7477 Electronic Lien & Title southernelt.com

Tags & Titles, Inc. 770-552-8227 Tag & Title Service [email protected] TitleTec SEE OUR AD ON PAGE 43 866-689-0578 Business, Title & Registration Software titletec.com Tri Vin Inc./ DealerTrack 860-448-3177 Paper & Electronic Vehicle Title Admin – Liens and Title Mgmt trivininc.com

TOWING & VEHICLE TRANSPORTATION Amerifleet Transportation 404-432-4611 Vehicle Transportation and Temporary Storage of Vehicles amerifleet.com

28 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

USED CAR VALUATION Black Book 800-554-1026 Wholesale Vehicle Guide blackbookusa.com RouteOne, LLC 248-229-5170 Automated Vehicle Values Tool routeone.com

VEHICLE HISTORY REPORTS Auto Data Direct Inc. 850-877-8804 Vehicle Database Searches add123.com CARFAX 404-323-8584 Vehicle History carfax.com

VEHICLE INSPECTION SERVICES TrueFrame of Georgia 678-796-8783 trueframeofga.com

VEHICLE MODIFICATIONS AMS Vans, Inc. 770-729-9400 Van Conversions amsvans.com Custom Mobility Van & Lift Sales & Service 877-800-0194 Conversions, Hand Controls, and Wheelchair Lifts custommobility.net

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CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 29

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30 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

BUY-HERE, PAY HERE NOTES

Monitoring Your 2015 Mid-Year Buy Here, Pay Here Performance by Kenneth Shilson, CPA President / Founder Subprime Analytics The first half of 2015 is now complete and for most buy here, pay here dealers (BHPH) dealers it has been extremely challenging. Competition from credit unions and franchise dealers, together with large subprime asset-backed auto finance securitizations, have reduced the market share of independent BHPH dealers. In addition, it has become more difficult for dealers to attract and retain the best subprime customers. Every operator should determine how their own business has been affected and what they must do to compete successfully during the remainder of 2015 and beyond! Unfortunately, reviewing historical financial statements and sales reports will not provide the necessary answers. Financial statements report gross sales profits, which (in BHPH) too frequently do not convert into cash. Further, selling a vehicle and “keeping it sold” can be very different. Success in the BHPH business is determined by the latter (keeping the customer paying) rather than delivering the vehicle! Therefore, I encourage operators to take a “deeper dive” into their first half results by studying their bad debt losses. This helps them avoid repeating underwriting and/ or collection mistakes, which have become more expensive due to increased “cash in deal” and operating expenses. Some operators don’t analyze losses because they have centralized underwriting with the same people making the finance decisions. They mistakenly believe that consistency assures success. Neither are valid reasons not to “look under your hood” because changes in the economy, customers, local market conditions, and increased competition require operators to adapt to these changes. During the May 2015 NABD Conference

in Las Vegas, new BHPH benchmarks were released. These are the most comprehensive metrics for the industry and (for the first time) include benchmarks for lease here, pay here -- which is becoming a popular alternative business model. The entire report can be downloaded free from www. subanalytics.com in case you missed the Las Vegas Conference. Two videos are also available on that web site. The first video explains static pool, loss / liquidation and default-rate performance metrics. The second video explains how to use these metrics to evaluate portfolio performance and how to compare your business model with industry peers and the benchmarks. Although data from the first quarter of 2015 shows industry competition is decreasing, dealers’ ability to regain and grow market share is not assured. Some important decisions must be made. Should you increase or decrease ACV? Are down payments and repayments adequate and comparable to those of your peers? Is the term of your contracts too long? Answers to these questions will determine the return on your portfolio investment -- which is the most important measure of your profitability. Accrual basis net income shown on your financial statement is “fool’s gold”. At our NABD Boot Camp on August 22- 23 we will discuss “best practice” tips, which answer the aforementioned questions. Operators who sell their contracts also need to analyze portfolio performance in order to determine the performance metrics that will support the fair value of their portfolio. For instance, if their net static pool loss rate is 25% and they are offered a 20% discount from a buyer, the sale of these contracts may be advisable. Operators also need to know the projected runoff of their portfolio if “collected out” to project future

cash flow and capital requirements. In the heightened regulatory environment of today, portfolio analysis can be used to make “disparate impact” calculations before regulators do. Performance analysis can detect increases in defaults and provide an early warning that customer complaints will likely follow. Hoping that the second half of 2015 will be better is not a prudent strategy – BHPH operators must be proactive to become competitive and successful. “Learn from your losses so you don’t repeat them!” Intelligence is the ability to adapt to change.” Good luck! n _______________________________ Kenneth Shilson, CPA, is President of Subprime Analytics (www.subanalytics.com) which performs data mining analysis of subprime auto finance portfolios for capital providers and BHPH operators large and small. The data can be extracted electronically from most dealer management software systems. Questions can be directed to [email protected] or by calling (832) 767-4759. NABD is the only used car special interest group exclusively for the self-finance industry. Membership is open to anyone in the BHPH industry and to service providers. Members pay no dues. Upcoming NABD educational opportunities include a Buy Here, Pay Here Boot Camp in Charlotte, NC on August 22-23, 2015 and the 2015 East Coast Conference for Buy Here, Pay Here in Orlando, Florida on November 3-5, 2015. For more information contact NABD at (832) 767-4759 or visit the web site at www.bhphinfo.com.

CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 31

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COMPLIANCE

What’s Next in Credit Compliance by John Stephens, Senior Vice President of Dealer Services at EFG Companies As the Consumer Financial Protection Bureau continues to increase pressure on compliance regulation, the market is wondering what will come next. Will more lenders implement flat rates? Will the CFPB find a way to extend its influence into the F&I space? Will Congress step in and impose restrictions on the CFPB? With so much up in the air, both dealerships and lenders are waiting to see what is in store. But instead of waiting, it’s time to focus on operations. With many dealers decreasing their reliance on finance reserve and pushing more on product sales, you can bet the CFPB is watching.

While it primarily has focused on rate administration as it relates to loan origination, the CFPB is beginning to take issue with the sales practices of F&I products. While the CFPB’s influence lies primarily with the lending community, the bureau has been clear that lenders also are responsible for the actions of their vendors and partners. This applies to who they use to service and collect their loans, as well as who originates them. So, while it primarily has focused on rate administration as it relates to loan origination, the CFPB is beginning to take issue with the sales practices of F&I products. Recently, U.S. Bank issued a letter to its dealer partners describing the bank’s policy regarding fair and responsible lending. While lenders have been issuing letters of this nature over the past few years, this one marked a significant milestone since the CFPB’s regulation of the retail lending industry. In this letter, U.S. Bank became

the first lender to explain a monitoring program with a heavy focus on how F&I products are priced and sold. To protect your dealership, take a deep look at your F&I product presentation with your legal team and address any issues that may arise. Consistent pricing is key during this time of heavy scrutiny. While the bottom line is important, review how much you typically make on each product and create a reasonable, predictable and consistent range for mark-ups. It’s also important that dealership managers are trained on selling techniques to demonstrate a product’s value while also providing accurate pricing information. Review state and federal regulations on F&I. Work to implement a completely transparent selling process. A great compliance training resource is Association of Finance and Insurance Professionals certification, which helps ensure F&I teams have the appropriate processes and controls in place to navigate all the federal, state and local laws that affect a dealer’s operations.

Many dealerships now feel like they are caught between a rock and a hard place, facing increased pressure from government oversight to implement more compliance processes, while dealing with consumer pressure to shorten the sales process. With more informed consumers walking into dealerships, your sales force has the unique opportunity to quickly address a customer’s vehicle needs and move on to discussing the value of purchasing at your dealership as well as endorsing the products provided in the F&I office. By including the sales team in the product presentation, the manager can focus on answering questions, overcoming objections and finalizing the purchase. Implementing a process like this allows the dealership the leeway to ensure compliance measures are met, while also utilizing the consumer’s time in the most efficient manner. n _______________________________ John Stephens can be reached at 972-4458910 and [email protected].

CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 33

3 Stats to Change Your Mind About Video Marketing and Car Sales By Collin Davis

Whether it’s customers coming in to haggle over the price or corporate checking in to see how your team compares, in our industry it’s all about the numbers. Volume, margin, financing, and more: you have to track all the stats in order to keep your dealership on track. Yet even with this number-centric mindset, many car dealerships have resisted diving into video marketing despite the numbers showing video to be a clear winner over other marketing types. We’re here with three stats to show you just why this resistance to video is wrong, and what you can expect when it comes to attracting and converting customers with the right video marketing for your new and used cars. Video Marketing More than Doubles Sales Conversions StacksAndStacks.com, an online retailer for home goods, recently implemented site-wide video marketing across their product lines, and compared their sales rates among viewers who saw a video to

those who didn’t. What they found was that customers were 144% more likely to purchase after seeing a product demo video than when they simply saw the item’s image and text description. This simple housewares retailer more than doubled their sales conversions simply by adding videos that gave their customers the information they wanted in an easy-to-view format. Imagine what a sales bump of just 100% or even 50% would do for your dealership—and all you have to do is display a video test drive of every model in your inventory. Get people more primed to buy, and you’ll save time while boosting sales. Video Delivers a Higher ROI Than Any Other Online Marketing A wide ranging study involving hundreds of companies found that 71% of marketer saw higher conversions from video than any other marketing content, and 82% saw enough success with video marketing to warrant the money spent

34 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

on creating and hosting the video messages. Another study found that nearly half of marketers agree that video marketing ROI is still improving as well. Even self-produced marketing videos pay for themselves, and with a service that provides videos for your dealership you’ll see an even bigger ROI. Getting three marketers—let alone hundreds— to agree on anything is tough, so when 4 out of 5 say video marketing is the way to go, it’s time to sit up and listen. More Shares Means Wider Marketing Reach for Video Content A Tweet with a video URL receives 28% more retweets than similar tweets linking to articles and static pages, according to one recent study, and other social media platforms show similar trends. Having a video for people to share means they can crowdsource opinions and make recommendations for their auto-interested friends with ease, and with videos embedded on your site it will be your URL getting passed around. n

GIADA CONTINUING ED

GEORGIA INDEPENDENT AUTOMOBILE DEALERS ASSOCIATION

800-472-8101 | www.giada.org GIADA is a not-for-profit industry trade association that has been the voice of Georgia’s independent auto dealers since 1955. GIADA is committed to representing, educating, and informing Georgia’s most successful independent motor vehicle dealers. Dealers turn to GIADA to provide them solutions and answers to business related questions and consumer related questions. At present, there are approximately 2,423 GIADA members, 2,228 licensed auto dealers and 195 companies who offer products and services to Georgia Auto Dealers. Our primary purpose is to identify and address the legal and legislative issues that confront the used car industry in Georgia. But we do much more. Through GIADA’s impressive network of a wide variety of companies who support our industry, our members enjoy pre-negotiated discounts on products and services they need to be successful in the car business. We encourage you to check out the GIADA Dealer Service Provider Directory. These services include, but are not limited to auto auctions, insurance companies, legal advice, and advertising. All members receive two coupon books containing about $38,000 in real discounts. GIADA also maintains a large inventory of legal forms dealers need to conduct business. Members receive a 30% discount on all forms. Members also enjoy discounted rates on all GIADA training programs, or sometimes can attend for free.

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All Used Car Dealer Licenses are required to be renewed every two years prior to March 31st of each even year. Cost for these classes are $100 members and $150 non-members.

Look for GIADA OnDemand branding for your CE credits! Completing an online continuing education course will satisfy your official state obligations. No other company offering online CE classes brings together the resources, knowledge and experience of the car business that GIADA does. Simply put: our online seminar is a world-class training program that is entertaining and meaningful. We can’t wait for you to see what we are developing for you. There’s no need to sign up for any other CE training except for the GIADA CE OnDemand program.

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CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 35

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36 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

MANAGING RISK

How Dealers Avoid Flood-Damaged Vehicles by Josh Hyatt, Auto Remarketing

There’s quite a bit of hubbub being made in the consumer-facing media following the recent flooding in Texas and the vehicles that suffered water damage.

gine blocks in a Toyota or something. You can see the rust line and the water line, and fair enough, you can check under the seats, and they’re all rusty, too.”

The National Insurance Crime Bureau, based on estimates from Copart, recently reported that the fallout from the flooding affected between 7,000 and 10,000 insured vehicles in the area. While the majority of media is focused on warning consumers, this feature will hone in on protecting auctions and dealers alike.

One pro tip that Fuzy provides is simple: check the seat tracks to see if they will move. “Those seat tracks will freeze up pretty quick if they’ve been wet,” Fuzy said. “So that’s usually a good tell-tale.”

There is a good chance that there will be folks who try to trade in a flood-damaged vehicle or that many of these cars may end up at the auction. But through Auto Remarketing’s recent conversations with dealers around the country, it seems there are a variety of ways for the industry to handle this challenge. Dealers we’ve reached out to, from both coasts and even in the heart of our automotive industry in Michigan, have said they haven’t seen any impact in trade-ins or in the lanes from the recent Texas floods. At least not yet. One such dealer, who is intimately familiar with flood-damaged vehicles, is Frank Fuzy, owner of Century Motors of South Florida in Pompano Beach, Fla. Positioned near the coast of the Sunshine State and less than an hour’s drive from Miami, Fuzy — with 31 years of automotive sales in both retail and wholesale settings — is no stranger to identifying the negative effects of water on vehicles. “It would be pretty obvious if you had any more than a foot of water in a car,” Fuzy said. “I’m sure when the floods hit, it was probably that brown Texas color so I’m sure it would be excessively stained. I’ve seen some flood cars down when the hurricanes hit the Keys, and I’ve seen where I’ll have shells in the en-

Fuzy, although not worried about the potential threat, knows better than to not expect the unexpected, even though he hasn’t seen any sign of flood-damaged vehicles recently. Fuzy said, “It’s probably that it’s not a real issue for us now, but it’s definitely good to watch out for.” For any vehicle that has been mostly or completely submerged, Fuzy says it’ll be pretty obvious that you need to avoid it. “A fully submerged car, if it was ever wet, I could smell it probably without even opening the door,” Fuzy said. “Those should be pretty easy to detect. The second item is if it’s submerged up to the seat lines — usually, if the power seats don’t work, that should be a red flag. There’s no reason the power seats wouldn’t work in the car unless it went under water and the modules got wet.” Although a vehicle may have some flood damage, the extent of the damages may not mean the vehicle is a complete wash, so to speak. “I have had Corvettes come in, they sit low, and I have seen wet seat tracks,” Fuzy said. “But the extent of the water in the car was about an inch or two, not like a foot underwater, so all the computer stuff works. It just depends on how you evaluate a flood car.” On the West Coast at Capistrano Volkswagen in San Juan Capistrano, Calif., you’ll find Harry Haber, the dealership’s used-car manager.

Haber, whom we spoke with toward the begging of June, is approaching the situation with a conservative mindset, even though he hasn’t personally seen any flood-damaged vehicles in about a year. “Anything from the Texas area, presently, if I see a registration or a prior history that a car was in the state of Texas I’ve been kind of shying away from those cars unless they’re from a financial consignment lane,” Haber said. “Today I was previewing some cars and they had Texas registrations on them here in the state of California,” Haber continued. “They’re at the auctions. I marked ‘no interest’ on them.” Blaine Marston, the general manager of the CARite location in Monroe, Mich., echoed a similar message. “We have not seen any flood vehicles,” Marston said. “If discovered, we would not retail a flood-damaged vehicle.” To recap, here are just a few spots recommended to check for flood damage: • Seat tracks: Do they move? Are they rusty? Check the bolts on the rails and look under any caps — if the bolts are rusty, the vehicle may have previously been involved in a flood. If the vehicle has power seats, do they function? • Engine bay and exterior: Are there water lines anywhere in the engine compartment or on the outside body/ inside the fender wells? Rust lines? Unusual debris? • Interior smell: Does the vehicle have a musty odor? Is any of the interior upholstery discolored or look unusually new or replaced. For more tips on flood damage from the auction side of things, be sure to check the information on auction standards and various other resources available through the National Auto Auction Association website. n

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38 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

Is Your GP S Device Really 3G?

EVENTS CALENDAR August 14

Automobile Dealer Pre-License Seminar Lithia Springs, GA n

August 29

With 2G GSM towers sun-setting on a weekly basis, coverage for GPS devices on the 2G network is shrinking in areas across the country. If you think this is simply a rumor, just Google “AT&T 2G” and take a look at the top results. On the AT&T website itself you’ll find the statement, “AT&T has announced plans to sunset its 2G network by approximately January 1, 2017. As AT&T progressively frees up valuable spectrum for its mobile broadband networks, we may conclude that some markets or territories may need to sunset 2G even sooner.”1 We know that the carrier and its roaming partners has in fact sunset certain markets already and will continue to do so throughout the next 18 months. While it is true that T-Mobile is going to continue supporting its 2G network longer than AT&T, the question is: after AT&T’s network is gone, what does the T-Mobile network look like without the ability to roam on AT&T? Anyone who tells you that 2G is here to stay is, at best, basing their claim on a technicality; one which will not serve you well if you are outside of T-Mobile’s native coverage. Moving to 3G Although 2G is not gone yet, the prudent long-term plan is to move to a newer technology, like 3G. Maybe you are already buying 3G …. Or you think you are. Unfortunately, many dealers and lenders in the market who thought they were buying 3G GPS devices are actually

still, unknowingly ,receiving 2G devices. Whether it is a misunderstanding or something more deliberate, many customers of GPS devices have come forward indicating they thought they were buying 3G, when in fact they were not. Consequently, you may want to check the GPS devices you are currently ordering to make sure you are really on the 3G network. By putting it off, you may find yourself in the dark, at a time you least expect, nor can afford. It may not be easy to determine which device you are using by just by looking at it. However, your device provider should be able to match the model of the device in your hand to certifications that show the device is utilizing 3G technology. This documentation is readily available to your device provider and can easily be given to you. If your device provider is reluctant to supply you with this documentation, there may be a reason. PassTime, a leading provider of GPS devices is a Verizon Partner Program Member for its GPS devices in the BHPH and subprime lending spacing. Its devices utilizes Verizon’s 3G network. Documentation of certification of its devices on Verizon and 3G are available upon request. Should you have any concerns or questions about your device, contact PassTime at 877-727-7846 or [email protected]. n 1. http://www.business.att.com/enterprise/ Family/mobility-services/machine-to-machine/m2m-applications/cd2migration/ page=addl-info/#fbid=E7LtamcksRi?hashlink=tab2

Automobile Dealer Pre-License Seminar Marietta, GA n

August 16-22

National Auto Auction Week n

September 8

Automobile Dealer Pre-License Seminar Lithia Springs, GA

September 18 Automobile Dealer Pre-License Seminar Lithia Springs, GA

September 20-23

Innovate — A Conference for Independent Dealers Omni Fort Worth Hotel Forth Worth TX n

September 26 Automobile Dealer Pre-License Seminar Marietta, GA n

October 27-29

NIADA Day On The Hill Trip Washington, DC n

November 3

SEMA 2015 Las Vegas Convention Center

COMPLIANCE TIPS Here We Go Again This month, we feature developments from the Consumer Financial Protection Bureau, the Federal Trade Commission, the Department of Defense and Congress we thought might interest to those in the auto sales, finance or leasing business. We also recap some of the auto sale and financing lawsuits we follow each month. Remember – we aren’t reporting every recent legal development, only those we think might be particularly important or interesting to dealers. Why do we include items from other states? We want to show you new legal developments and trends. Also, another state’s laws might be a lot like your state’s laws. If attorneys general or plaintiffs’ lawyers are pursuing particular types of claims in other states, those claims might soon appear in your state. Note that this column does not offer legal advice. Always check with your own lawyer to learn how what we report might apply to you, or if you have questions. Thomas B. Hudson Partner, Hudson Cook, LLC [email protected]

Nicole Frush Munro Partner, Hudson Cook, LLC [email protected]

The CARLAWYER

©

by Thomas B. Hudson and Nicole Frush Munro Are your employees who deal with car buyers doing so in compliance with all federal and state laws? How do you know whether they are or not? Consider “mystery shopping” your own dealership, with a shopper who has been briefed by your counsel on what to say and how to behave. Perhaps you’ll discover some pleasant surprises. Or not. Federal Developments Protecting Our Servicemembers. On July 22, the DoD published its final Military Lending Act Rule. The rule expands MLA protections to installment loans, unsecured open-end lines of credit, deposit advance loans, and credit cards. It continues to apply to payday loans, vehicle title loans, and refund anticipation loans, and continues to exclude residential mortgages and credit extended to finance the purchase of, and secured by, personal property such as vehicles. The regulation provides several significant protections to active duty servicemembers and their families, including a 36 percent Annual Percentage Rate limit, which covers all interest and fees associated with the loan. This limit now includes charges for some ancillary "add-on" products such as credit default insurance and debt suspension plans. The MLA also prohibits creditors from, among other things, requiring servicemembers to submit to mandatory arbitration and onerous legal notice requirements, waive their rights under the Servicemembers Civil Relief Act, or provide an allotment as a condition of obtaining credit (with some exceptions). The rule, effective October 1, 2015, has staggered compliance dates. Auto finance companies and dealers should be concerned that these restrictions will be extended to cover them. Wanna Buy Some Hot Leads? On July 22, the FTC announced a workshop on October 30, 2015 to discuss consumer protection issues arising from online lead gen-

40 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

eration in various industries, including consumer lending. The Washington, D.C. workshop is free and open to the public. The FTC is seeking research, suggested discussion topics, and panelists for the workshop. Allotting Time for Advertisement Review. On July 20, the CFPB announced that it sent letters to several companies that sell retail goods to military servicemembers, warning them that certain ads that allow servicemembers to pay by allotment may violate federal consumer financial protection laws and that they should review their advertising and business practices related to military allotments. The allotment system lets servicemembers direct part of their paychecks to pay for certain goods. Last year, the DoD announced changes to the system that prohibit new allotments to buy, lease, or rent personal property such as vehicles, appliances, and consumer electronics. The Bureau noted that misleading servicemembers about payment options and allowing them to pay by allotment when prohibited by the DoD's regulations could violate the Dodd-Frank Act's prohibition against unfair, deceptive, or abusive acts or practices. BHPH Collectors, Attention! On July 17, the FTC announced that it will host two additional "dialogues" to discuss issues related to the debt collection industry. The events are scheduled for Dallas on September 29 and Atlanta on November 18. Participants will discuss enforcement actions, consumer complaints, compliance issues, and industry best practices. The events are free and open to the public. BHPH dealers should pay attention to this topic. Checked the CFPB’s Complaint Database Lately? On July 16, the CFPB released its first monthly complaint report, highlighting trends in the data the CFPB receives through its Consumer Complaint Data-

COMPLIANCE TIPS base. The monthly report includes complaint data on certain companies, overall complaint volume, complaint volume by state, and other data trends. The monthly report will spotlight complaints about a particular issue and complaints from a particular geographic location. This month's report featured debt collection complaints from Milwaukee, where the Bureau held a field hearing in May. Curbing Dealer Finance Charge Rate Discretion. On July 14, the CFPB and the Department of Justice resolved an action with American Honda Finance Corporation that will put new measures in place to address discretionary auto financing pricing and compensation practices. The CFPB claimed that Honda's practices resulted in African-American, Hispanic, and Asian and Pacific Islander consumers paying higher rates than white consumers for auto financing, without regard to their creditworthiness. Under the order, Honda will change its pricing and compensation system to substantially reduce dealer discretion and will pay $24 million in restitution to affected consumers. FTC Continues to Hammer Dealer Ads. On June 29, the FTC announced a proposed consent order with two Las Vegas dealerships that allegedly used deceptive ads in connection with the sale and leasing of vehicles. Among other charges, the FTC alleged that the dealerships' ads violated the FTC Act, the Consumer Leasing Act, and the Truth in Lending Act by misrepresenting the purchase price or leasing offer, failing to disclose required lease terms, and misrepresenting the down payment amount. A Shot Across the CFPB’s Bow. Also on July 29, the House Financial Services Committee voted 47 to 10 to rescind the CFPB’s March 2013 fair credit guidance to indirect auto creditors require the CFPB, when proposing and issuing future guidance related to indirect auto financing, to take basic procedural steps to ensure the guidance is both transparent and informed. These steps include providing for public notice and comment, making publicly available the methodologies and other information the CFPB relied upon in developing

the guidance, coordinating with the FRB, FTC, and DOJ, and studying the cost and impact of the guidance on consumers as well as small, women-owned, and minority-owned businesses. Litigation Supreme Court's Ruling on Disparate Impact in Fair Housing Discrimination Case May Signal How Court Might Rule on ECOA Disparate-Impact Claims against Indirect Auto Creditors: A nonprofit that assists low-income families in obtaining affordable housing sued the Texas Department of Housing and Community Affairs, alleging a disparate-impact discrimination claim under the Fair Housing Act based on the racial composition of the neighborhoods in which the department allocated tax credits. The trial court found that the nonprofit's statistical evidence established a prima facie showing of disparate impact and that the department failed to meet its burden to show that there were no less discriminatory alternatives for allocating tax credits. The appellate court held that disparate-impact claims were cognizable but remanded, concluding that the trial court erred in requiring the department to prove less discriminatory alternatives. In a 5-4 majority, the U.S. Supreme Court upheld the appellate court ruling that disparate-impact claims are cognizable under the FHA but imposed significant practical limitations on their application. The decision has been closely watched by auto creditors as well, who are looking for signals about how the Supreme Court might rule on the disparate-impact theory under the Equal Credit Opportunity Act, as the Consumer Financial Protection Bureau and the Department of Justice are aggressively pursuing disparate-impact cases against indirect auto creditors based on finance rates set by auto dealers. Many observers have noted that the FHA language and legislative history on which the Court's majority decision is based differ significantly from the ECOA, leaving open the question of whether the Court would reach the same conclusion under the ECOA. See Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc., 2015 U.S. LEXIS 4249 (U.S. (5th Cir. (N.D. Tex.)) June 25, 2015).

Court Reads Buyer's Order with Arbitration Agreement and RISC without Arbitration Agreement Together to Determine that Parties Intended to Arbitrate Claims: When car buyers went to a dealership to buy a car, the Buyer's Order they signed included an agreement to arbitrate any claims arising from the transaction, while the retail installment sale contract they signed did not. However, both the Buyer's Order and the RISC included integration provisions incorporating by reference all other documents signed by the buyers in connection with the purchase of the car. The buyers sued the dealership when they discovered the car had been involved in a collision and had also been used as a short-term rental prior to their purchase. The dealership moved to compel arbitration under the agreement to arbitrate in the Buyer's Order. The trial court ordered the parties to arbitrate the claims. On appeal, the buyers argued that a certain provision of the Maryland regulations governing auto financing requires that all of the terms of the vehicle sale and financing be contained in a single document. In this case, the buyers argued that the controlling document was the RISC, which did not include an agreement to arbitrate. The Maryland Court of Appeals disagreed, holding that nothing in the Maryland regulations supplants the common law principle permitting the reading of multiple documents together as part of a single transaction, particularly where the documents contain integration provisions. Therefore, the appellate court affirmed the trial court's decision to compel arbitration. See Ford v. Antwerpen Motorcars Ltd., 2015 Md. LEXIS 480 (Md. April 1, 2015). Car Buyer Stated Sufficient Theory of Damages in Claim against Dealership under California Law for Failure to Disclose Defects: A consumer bought a used car from a dealership. The car had been used as a rental car, but no dealership representative told the buyer of this prior use, and the ads for the car did not state the prior use. However, the buyer signed a statement when buying the car that she was aware of the prior rental car use. Almost immediately, the buyer had problems with the car jerking and hesitating, which the dealer Continued on page 42

CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 41

COMPLIANCE TIPS Continued from page 41 ship was unable to resolve. The buyer sued the dealership for, among other things, violating the Consumers Legal Remedies Act and engaging in unfair practices by failing to disclose certain defects in the car. The buyer alleged that she suffered damages because she would not have bought the car if it was defective. The dealership moved to dismiss the complaint for failure to state a claim. The court denied the motion with respect to the CLRA and unfair practices claims. The court found that the buyer stated a sufficient theory of damages. See Malone v. CarMax Auto Superstores California, LLC, 2015 U.S. Dist. LEXIS 82253 (C.D. Cal. June 23, 2015). Buyer Stated Claim that Dealership Employees Were Aware of or Recklessly Disregarded False Information Regarding Odometer Mileage: A dealership acquired

a 2007 trade-in with 3,650 miles on it. During inspection, a dealership technician told his supervisor that he suspected the odometer was inaccurate. The dealership nevertheless added the car to its sales lot. After discussing the mileage with the saleswoman, an individual bought the car "as is" and without warranty and received an Odometer Disclosure Statement indicating the car had 3,650 miles to the best of the dealership's knowledge. A few months later, the car's engine failed. An inspection at another dealership showed a problem with the odometer and that the car needed a replacement engine. The selling dealership refused to repair or accept return of the car. The buyer sued the dealership for, among other things, fraud and violation of the Georgia odometer statute. The trial court granted the dealership summary judgment on the fraud claim, but denied summary judgment on the odometer stat-

ute claim. The Court of Appeals of Georgia reversed the grant of summary judgment on the fraud claim, concluding that there was a question of fact as to whether the dealership issued a substantially inaccurate odometer statement because the saleswoman assured the buyer of the odometer's accuracy, and more than one employee was aware that the odometer information was false or recklessly disregarded the possibility that it was false. The appellate court concluded that it was for a jury to determine if the dealership took any action to alter the odometer or had any knowledge that it had been altered, and therefore the Georgia odometer statute claim survived summary judgment as well. See Alvear v. Sandy Springs Toyota, Inc., 2015 Ga. App. LEXIS 392 (Ga. App. July 7, 2015). So there’s this month’s roundup! Stay legal, and we’ll see you next month. n

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AUCTION DIRECTORY MONDAY

Copart Auto Auction 6089 Hwy 20 Loganville, GA 30052 770-554-6366 12:00 pm Dealer & Public Sale copart.com

America’s Auto Auction – Jacksonville 11982 New Kings Rd Jacksonville, FL 32219 904-764-7653 6:00 pm INOP Sale 6:30 pm Dealer Only Sale americasautoauction.com

Insurance Auto Auction Macon 2200 Trade Dr. Macon, GA 31217 478-314-0031 9:30 am One Monday per Month iaai.com

Athens Auto Auction 5050 Atlanta Hwy Bogart, GA 30622 770-725-7676 6:30 pm Dealer & Public Sale athensautoauctionga.com

Insurance Auto Auction Tifton 368 Oak Ridge Church Road Tifton, GA 31794 229-386-2640 9:30 am Biweekly iaai.com Manheim Georgia 7205 Campbellton Rd Atlanta, GA 30331 404-349-5555 / 888-766-7144 Ford Factory Sale Every Other Monday 10:00 am Call for Toyota & Nissan sale manheim.com Peach State Auto Auction Monday & Wednesday 6:00pm 770-466-9000 peachstateautoauction.com

TUESDAY

America’s Auto Auction -Atlanta 444 Joe Frank Harris Pkwy Cartersville, GA 30120 770-382-1010 6:00 pm Dealer & Public Sale auctionbroadcasting.com America’s Auto Auction – Greenville 2415 Hwy 101 S Greer, SC 29651 864-801-1199 800-859-3393 3rd Tuesday of Every Month 2:00 pm Marine Sale americasautoauction.com

Chattanooga Auto Auction 2120 Stein Dr. Chattanooga, TN 37421 423-499-0015 9:00 am Dealer Sale chattaa.com Columbus Auto Auction 2473 Blanchard Blvd Columbus, GA 31901 706-320-2200 5:45 pm Dealer Sale Columbusgeorgiaautoauction.com

Manheim Statesville 145 Auction Lane Statesville, NC 28625 800-868-1220 8:30 am TRA Sale 9:30 am manheim.com Rawls Auto Auction 2818 Pond Branch Rd Leesville, SC 29070 803-657-5111 10:00 am Dealer Sale GSA Sale Public & Dealers Call for Details 8:30 am Salvage Sale rawlsautoauction.com

WEDNESDAY 411 Auto Auction 3824 Hwy 411 Kingston, GA 30145 770-336-5581 12:00 pm 411autoauction.com

Adesa Atlanta 5055 Oakley Industrial Blvd Fairburn, GA 30213 770-357-2277 10:00 am Dealer Sale adesa.com

Hwy 515 Auto Auction 107 Whitepath Rd Ellijay, GA 30540 706-635-1500 6:00 pm Dealer & Public Sale hwy515autoauction.com

America’s Auto Auction Greenville 2415 Hwy 101 Greer, SC 29651 864-801-1199 3rd Wed RV Sale 9:00am americasautoauction.com

Insurance Auto Auction Atlanta North 6242 Blackacre Trail NW Acworth, GA 30101 770-975-1107 9:00 am iaai.com

Augusta Auto Auction 1200 E. Buena Vista Ave N. Augusta, SC 29841 800-536-3234 10:00 am Dealer Sale 9:30 am Last Wed of Month INOP augustaautoauction.com

LW Benton Company Inc. 107 Oak Valley Drive Macon, GA 31217 478-744-0027 11:00 am www.bidderone.com

Carolina Auto Auction 140 Webb Rd Williamston, SC 29697 864-231-7000 10:00 am Dealer Sale 1st & 3rd Wednesday 9:00 am Salvage Sale carolinaautoauction.com

Manheim Georgia 7205 Campbellton Rd Atlanta, GA 30331 404-349-5555 / 888-766-7144 9:00 am Dealer Sale 1st, 3rd, & 5th Tuesday 8:30 am Disable Sale manheim.com

44 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

Georgia-Carolina Auto Auction 884 East Ridgeway Rd Commerce, GA 30529 706-335-5300 5:00 pm Dealer & Public Sale gcautoauction.com

Go Auto Exchange ATL 2244 Metropolitan Parkway SW Atlanta, GA 30315 404-464-4567 12:30 pm goautoexchange.com Houston Auto Auction 4599 Pio Nono Ave Macon, GA 31206 478-788-6947 11:00 am & 7:30 pm Dealer & Public Sale Insurance Auto Auction – Atlanta South 1930 Rex Rd Lake City, GA 30260 678-920-4800 9:00 am Rental & Fleet Sale iaai.com Manheim Atlanta 4900 Buffington Rd College Park, GA 30349 404-762-9211 / 800-856-6107 Exotic Highline Event 4th Wednesday at 9:30 am manheim.com New Calhoun Auto Auction 417 Lovers Lane Rd. Calhoun, GA 30701 706-624-1944 7:00 pm Dealer & Public Sale newcalhounautoauction.com Peach State Auto Auction Monday & Wednesday 6:00pm 770-466-9000 peachstateautoauction.com Southeastern Auto Auction of Savannah 1712 Dean Forest Rd Savannah, GA 31408 912-965-9901 In-Op 10:00 am, Repos 10:30 am 11:00 am Regular Sale southeasternaa.com Truckcenter.com 1952 Moreland Ave Atlanta, GA 30316 404-627-5346 Visit Website for Dates/Times truckcenter.com

THURSDAY

Albany Auto Auction 1421 Liberty Expressway SE Albany, GA 31705 229-435-7708 6:30 pm Dealer Sale albanyautoauction.net

Insurance Auto Auction Atlanta East 1045 Atlanta Hwy SE Winder, GA 30680 770-868-5663 9:00 am Motorcycle sale 1st Mon. 9 am iaai.com Manheim Atlanta 4900 Buffington Rd College Park, GA 30349 404-762-9211 / 800-856-6107 9:30 am Dealer Sale Every Other Thursday 9:30 am Salvage Sale manheim.com

FRIDAY

America’s Auto Auction - Atlanta 444 Joe Frank Harris Pkwy Cartersville, GA 30120 770-382-1010 11:00 am Dealer Sale INOP 2nd & Last Fridays at 9:30 am auctionbroadcasting.com America’s Auto Auction Greenville 2415 Hwy 101 South Greer, SC 29651 864-801-1199 / 800-859-3393 10:00 am Car Sale americasautoauction.com

Oakwood’s Arrow Auto Auction 4712 Flat Creek Rd Oakwood, GA 30566 770-532-4624 6:00 pm Dealer & Public Sale oakwoodsarrowautoauction.com

Charleston Auto Auction 651 Precast Lane Moncks Corner, SC 29461 843-719-1900 10:00 am Dealer Sale charlestonautoauction.com

Rebel Auction Company 1175 Bell Telephone Rd Hazelhurst, GA 31539 912-375-3491 / 800-533-0673 2nd Thursday of Each Month 9:00 am Dealer & Public Sale rebelauction.net

Copart Auto Auction 2568 Old Alabama Rd Austell, GA 30168 770-941-9775 12:00 pm Dealer & Public Sale copart.com

South Georgia Auto Auction 1407 Silica Rd Albany, GA 31705 229-439-0005 11:00 am Dealer Sale southgeorgiaautoauction.com Southeastern Auto Auction of Savannah 1712 Dean Forest Rd Savannah, GA 31408 912-965-9901 7:00 pm Public Sale southeasternaa.com

Georgia-Carolina Auto Auction 884 East Ridgeway Rd Commerce, GA 30529 706-335-5300 6:30 pm Dealer & Public Sale gcautoauction.com Insurance Auto Auction 125 Old Hwy 138 Loganville, GA 30052 770-784-5767 9:00 am iaai.com Insurance Auto Auction Savannah (Rincon) 348 Commerce Drive Savannah, GA 31326 912-826-1219 9:30 A.M. Every Other Friday iaai.com

Tallahassee Auto Auction 5249 Capital Circle SW Tallahassee, FL 32305 850-878-6200 10:00 am Dealer Sale bscamerica.com

SATURDAY

Houston Auto Auction 4599 Pionono Ave Macon, GA 31206 478-788-6947 7:30 pm Dealer & Public Copart Auto Auction 2568 Old Alabama Rd Austell, GA 30168 770-941-9775 12:00 pm Dealer & Public Sale copart.com Georgia-Carolina Auto Auction 884 East Ridgeway Rd Commerce, GA 30529 706-335-5300 6:30 pm Dealer & Public Sale gcautoauction.com Insurance Auto Auction 125 Old Hwy 138 Loganville, GA 30052 770-784-5767 9:00 am iaai.com Insurance Auto Auction Savannah (Rincon) 348 Commerce Drive Savannah, GA 31326 912-826-1219 9:30 am Every Other Friday iaai.com Tallahassee Auto Auction 5249 Capital Circle SW Tallahassee, FL 32305 850-878-6200 10:00 am Dealer Sale bscamerica.com

OTHER AUCTIONS

ACACIA Augusta Auto Auction 1200 East Buena Vista Ave North Augusta, SC 29841 800-536-3234 Last Day of the Month 9:30 am INOP Salvage Sale augustaautoauction.com CarMax Auctions 888-804-6604 Dealers Only Auctions – For Locations, Dates & Times carmaxauctions.com Hudson & Marshall, Inc. 478-743-1511 Auction/Liquidators [email protected] JJ Kane Auctioneers, Inc. 678-840-4914 See web for sale dates jjkane.com Online Public Auction.com 800-963-1672 6728 Hwy 85 STE C-2 Riverdale, GA 30274 onlinepublicauction.com Ritchie Bros Auctioneers 4170 Hwy 54 Newnan, GA 30265 770-304-3355 Industrial Equipment Auction rbauction.com V.I.P. Auctions Metro Atlanta New Car Trades 6:00 pm Dealer & Public Sale 678-889-7776 Check Website for Dates, Times & Mobile Locations myvipauctions.com

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46 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

FINANCE

3 Ways To Turn Your Average Inventory Cost Into Advantage By Dale Pollak, Chairman and Founder of vAuto, Inc. It’s becoming more critical for dealers to pay close attention to the average cost of their used vehicle inventory. I say this for three reasons: • First, today’s market can lead dealers to believe that managing your average used vehicle cost isn’t important. After all, cars are more expensive and, if you want to play in today’s highly competitive used vehicle market, you’ve got to pay. • Second, even if a dealer recognizes how/why a lower average inventory cost helps a used vehicle department reach its peak performance potential, it’s easy to look the other way when buyers or managers consistently pay too much for trade-ins or auction purchases. • Third, dealers who do proactively manage their average used vehicle inventory cost tend to sell more cars in less time than dealers who don’t. Among the best-performing dealers I know, the average cost of their inventory is a topic of conversation and investigation every day. They live and breathe the metric, and their results prove the benefit of their cost-minded commitment. One of these dealers is Bradley Williams, general manager for Rivertown Buick GMC in Columbus, Ga. His take: “The further you drive down your cost, the quicker your inventory turns. Increased volume should follow.” Some dealers may question this thinking but, if you step back, it makes sense. There are far more potential buyers for

lower-priced vehicles, and these units also typically pose less depreciation and valuation risk than their higher-priced counterparts. The key question then becomes, “OK, Dale, what’s the best way to set and manage our inventory cost targets?” Here are three best practices I’ve gleaned from Williams and other dealers:

1

Recognize the relationship between average new/used vehicle costs. I like Williams’ formula: He strives to maintain his average used vehicle cost at 50 percent of his average new vehicle cost. For example, if his average new vehicle cost is $26,000, his average cost goal in used vehicles is $13,000. This goal serves two key purposes. It helps create an inventory mix that delineates the value proposition between new and used vehicles for customers and, if managed correctly, can mitigate the preferences of individual buyers/managers, who like stocking higher-cost cars.

2

Evaluate your inventory turn by cost segment. For Williams, this analysis taught him that lower-cost cars turn more quickly. “As I managed my $13,000 cost target, I could usually expect an increase in monthly volume of one unit when we landed $100 below the goal,” he says. “I could also expect a reduction in unit volume as average cost increased.” Other dealers arrive at the same conclusion as they evaluate inventory age by cost

segment. In many cases, the oldest vehicles are also the most expensive and, in turn, they often suffer from the most significant price (and gross profit) reductions as dealers do their best to retail them.

3

Be realistic, and not too rigid, with your average cost target. The best used vehicle retailers recognize that managing your inventory to meet your average cost target is a balancing act. If you’re too firm, you’ll pass up retail-worthy vehicles that happen to fall outside your cost parameters. If you’re too flexible, you run the risk of burdening your inventory performance with too many expensive cars. “You have to be realistic,” says the used vehicle director for a six-store group in the Midwest. “There are times when I’ve relaxed our cost targets to make trades and fill inventory gaps. But when I do, I know I’ve got to focus on retailing those higher-cost cars quickly to keep our turn and grosses in line.” In closing, I should note that I’m writing this article as the spring selling season is coming to a close, and analysts indicate used vehicle values in most segments are on the wane. My prediction: This seasonal volatility will prove far less problematic for cost-conscious dealers who, through their ongoing diligence and discipline, will have the advantage of less inventory water to bail as summer arrives. n

CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 47

48 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

LEGAL NEWS

The Attack on Arbitration by Shaun Petersen, Attorney at Law, MacMurray Peterson & Shuster LLP For years, you have heard me espouse the value of a properly crafted arbitration agreement to be used in each of your transactions. Arbitration can protect your dealership against customer lawsuits, particularly class-action claims. It is a method of dispute resolution that has been favored through state and federal statutes for decades as well as through recent opinions of the U.S. Supreme Court. But the use of those agreements is now under heavy attack and dealers’ ability to use them in the future is very much up in the air. What is the cause of all of the criticism? When Congress passed the Dodd-Frank Act in 2010, the Consumer Financial Protection Bureau received express instructions from Congress to study the use of pre-dispute arbitration agreements in connection with consumer financial products or services, including retail installment contracts in automobile financing. After three years of study, the bureau finally released its 728-page report to Congress in March, highlighting several findings:

• Tens of millions of consumers are covered by arbitration agreements.

• Consumers filed roughly 600 arbitra-

•

• • •

tion cases and 1,200 individual federal lawsuits per year on average in the markets studied. Roughly 32 million consumers on average are eligible for relief through consumer finance class action settlements each year. Arbitration clauses can act as a barrier to class actions. There is no evidence of arbitration clauses leading to lower prices for consumers. Three out of four consumers surveyed did not know if they were subject to an arbitration clause.

As you might imagine, since the study was released, many have called on the CFPB to use the authority Congress gave it in the Dodd-Frank Act to ban the use of arbitration agreements in consumer financial products. Consumer advocates began loudly beating that drum the day the study was released. Since then, 58 members of Congress, led by Sen. Al Franken (D-Minn.) have written to CFPB director Richard Cordray advocating a ban and using the study as support for their position. Naturally, many in the industry have a much different opinion of the CFPB’s study. For example, data in the report showed arbitration was faster as compared to litigation, especially class-action litigation. Likewise, data actually shows arbitration is cheaper than litigation, even when only considering filing fees. The American Arbitration Association caps the consumer filing fee at $200 while a federal court filing fee approaches $400. Critics of the report are quick to point out that the CFPB fails to note the obvious as it pertains to class-action litigation studied – for those cases in which the class claims settled short of adjudication, class members got little monetary relief while class-action attorneys got plenty. Perhaps the biggest flaw in the study is that the bureau did nothing to consider the actual experiences of consumers who went through arbitration. So what is likely to happen from here? Cordray has indicated the bureau’s willingness to meet with stakeholders. NIADA will be among those stakeholders meeting with the CFPB to express our concerns with the study, chief among them the fact that the study seems to treat all financial

products the same. We know checking accounts are very different than retail installment contracts for the purchase of an automobile. We are hopeful the CFPB will follow the admonition of five national trade associations – among them the U.S. Chamber of Commerce, the American Bankers Association and the American Financial Services Association – that have called on the bureau to have a public comment period about the study before enacting any regulation that affects arbitration agreements. I have doubts the bureau will actually do so. In May, the CFPB indicated it is considering whether rules governing pre-dispute arbitration agreements are needed and what those rules might look like. The CFPB stated its intent to conduct “pre-rule activities” in September 2015. We might expect the bureau to release a proposed rule at that time. If so, the CFPB must accept public comment on the proposed rule and must consider its impact on small businesses. Any rule would not take effect until 180 days after it is published as a final regulation. I am frequently asked to peer into the crystal ball and describe what the CFPB’s arbitration rules will look like. If you asked me today, I would not be surprised if there is an outright ban. Perhaps if I switch to tarot cards, I can find a future in which arbitration agreements can be used in a restrictive environment. Regardless of what the CFPB decides to do with its arbitration study, dealers should be vigilant in handling any consumer complaints they receive. A consumer complaint management program -- required as part of an effective compliance management system – will likely keep most issues away from the courts or arbiters anyhow. n

CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 49

MAY/JUNE 2015 1st Choice Auto Brokers 3D Auto & Logistics Inc. 411 Auto Auction A & B Auto A & K Auto Sales A & O Auto Sales LLC AAA Auto Sales LLC AAA Best Car Dealer Acars LLC Advanced Auto Brokers Affordable Auto Solutions AG Alpha Express LLC AJ's Auto Inc. Alina Motorsports LLC Aljae Auto Sales All Brand Motors LLC ALS Auto Sales LLC Altamaha Motors LLC America Dealer LLC American Recovery Association, Inc. America's Car-Mart Another Satisfied Customer Auto Broker LLC AR Motorsports Arnold Luxe Auto Ashley Motors, LLC Athen's Auto Auction Atlanta Auto Exchange Atlanta Luxury Motors Atlanta Metric Used Car Sales ATLautos.com Augusta Auto Auction Augusta Motors LLC AUL Corp Auto 1 - Madison Auto Assistance of Georgia LLC Auto Funding Group Auto Now Auto Star of Dalls Auto Use Auto Wholesale Only Automobile Acceptance Corporation Ax Auto Inc. Azalea City Auto Sales & Service LLC B & L Auto Sales Bad Ash Motors LLC Best Auto Selection Best Response Media, LLC Bradley Automotive Group LLC Brand Auto Finance Bryant Auto Sales Bulldog Truck and Equipment Sales LLC Canton Auto Sales LLC

Capable 1 Auto Sales LLC Cars R Us OMG LLC Cars-N-Stuf, Inc. Cash Cars Auto Broker Cedrick Fallings Champion Auto Exchange Chris Brooks Motorsports Christian Auction & Equipment Sales Classic City Auto Sales Clean Slate Auto Sales Custom Mobility Van & Lift Sales & Service Dan Smith Motor Company Danny Enland Motors, Inc. Dave Auto Center Dave's Auto Sales Davis Auto Body & Paint Direct Auto Sales Dogwood Auto Works Inc. Don Tony Auto Sales DRIVETIME DV Motors DyCam Motors LLC Easy Wheels Echelon Imports Elite Autos of Atlanta LLC Expedite Autos Express Motors eZCarz Fabulous Used Car LLC Fast Buy Autos Ferguson Services Motorsports & Used Cars Flamingo Auto Sales, Inc. Floor Plan Xpress, LLC Flywheel Motor Group LLC Foster Classic Cars Freddie's Cars FT Auto Sales Inc. G & S Auto Sales LLC Garcia's Auto Sales GCC Auto Sales Inc. Georgia Auto Group LLC Georgia Quality Car Sales LLC Georgia Used Cars 4 Less Georgia Zone Autos Gladiator Cars Global Auto Sales & Brokers LCL God First Auto Godfather Customs Golden Classics, Inc. Griffin Auto Transport & Car Sales Hammitt Automotive LLC

50 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

NEW & RENEWED MEMBERS Hidden Creek Auto Broker Hilson Luxury Motors, Inc. HK&Ebony LLC Horizon Auto Management House Autmotive Group LLC J J Kane Auctioneers, Inc. James Anthony Motorcades James King James O'Neal Superstore LLC Jason Griffin JMBC Group KD Investment Group LLC Kenney's Automotive, Inc. King of Auto KMH Auto Group II LLC Knight Truck & Trailer Sales LLC KRO Auto Sales L C Auto Sales & Finance La Voiture LC Auto Sales & Finance Lee's Crossing Auto Sales, Inc. Lobo Auto Sales Long Autos LLC Lovvorn Motors M & J Auto Sales M and M Auto Superstore Mark Pisano Meegan Pam Metro Cars of Atlanta LLC MGN Auto Brokers LLC Mike Vaughn's Auto Exchange MNM Autos Moore Auto Center Motivating Motors and Transport LLC Motorcar Studio, Inc. Myriad Motorsports Auto Brokers Next Gear Capital, Inc. Nicos Auto Broker North Georgia Auto Sales Northeast Georgia Motors LLC Northpoint Auto Brokers Oakcliff Car Lot Old Bull Motors, Inc. Olympus Auto Brokers One Source Autos, Inc. Oto Master Auto Sales & Exports LLC Patriot Automotive Consulting Performance Auto Inc. Perimeter Auto Sales PJ's Auto Sales Center Premier Autoworks Sales & Rental Center LLC Primary Auto Group

NEW & RENEWED MEMBERS Prince Motors LLC Protec Merchants Solutions Psalm 121 Auto Brokers Pull-A-Part, LLC PV2D LLC RDR Car Truck & Van Rental Redding's Auto Mart Inc. Regs Used Car Sales Res Enterprises Inc/Hertz Rent-A-Car Ridley's Automotive LLC RJS Services Rommel and Ryley's Automotive, LLC S & V Auto Sales Savannah Auto Inc. Savannah Mobility Sales Savannah Used Truck Parts Select Motors LLC Shaikh Auto Simba Motors SiriusXM Radio Sky Ride Auto Sales, Inc. Smart Auction/ALLY Smarts Autos of Georgia

MAY/JUNE 2015 SML Auto Sales Solutionpro Autobroker Southeast Auto Sales Southeast Investment Ventures LLC Southern ELT Speedy Auto Sales, Inc. Stafford Cars Standard Fleet Sales Sterling Credit Sterling Motors Stewart Auto Finance Streetside Classic Cars Success Auto Logistics Super Stop Auto Superior Motors Supreme Auto Sales LLC Sweetwater Auto Sales Synergy Automotive Group LLC Taylor's Car Connection The Car Store TM Auto Sales Tom Sawyer Motorsports Travis Harper

Trebor Auto Sales Triad Auto Sales LLC Triple M Auto Finders Truck Outlet USA TrueCar Trust Capital Automotive Group LLC Tucker Automotive Inc. Under Ground Auto Sales United Autopia, Inc. V & V Auto Center, Inc. Vehicle Acceptance Corporation Victory Recovery Services, Inc. W. P. F. Car Sales LLC WCV Quick Auto LLC Wells Fargo Dealer Services Willie M Lopez Wilson's Auto Sales Windy Hill Imports World Auto Credit WSN Sales Xpress Rent-A-Car Zemka, Inc. Zone 5 Motors LLC

CELEBRATING 60 YEARS | GIADA Independent Auto Dealer JUL/AUG 2015 | 51

NATIONAL REGULATIONS

New OSHA Regulations Put Auto Dealers in the Crosshairs by David Couture, Senior Business Advisor, Employee Management Services Did you know that as of 2015, retail new and used car dealers are required by OSHA to m a i nt a i n the OSHA 300 injury and illness log and post the annual summary? This makes auto dealers the LARGEST group affected by OSHA’s new regulations. Traditionally auto dealers have not had to maintain the log and post the annual summary. Generally, auto dealers do not experience that many recordable injuries. However, the inclusion of auto dealers to the group of employers who will have to maintain OSHA logs and post the summary means that their data will be entered into OSHA’s system. If auto dealers are not effectively managing the new requirements, you can expect much more OSHA attention to be directed toward dealers. While completing the OSHA logs and posting the summary are important, it may be more concerning that auto dealers will have to report a hospitalization or something like the loss of a fingertip. Perhaps the biggest initial challenge is that dealers may mishandle OSHA recordkeeping. Many times safety and compliance duties tend to fall to the same person handling an area like workers’ compensation, or to a number of different personnel within the dealer. Proper coordination is crucial. OSHA and Workers’ Comp recordkeeping are very different, and without proper

instruction or management, logs can easily be mishandled. This creates not only the exposure of omitting the correct information, but also reporting incidents that can create unneeded attention. So where do auto dealers need to start in order to properly address these new exposures? Here are some basic questions to help auto dealers get on the road towards compliance: 1. “How do I know if the injury or illness is work related?” OSHA takes a very broad approach in interpreting this. 2. “Does the category of the work-related injury or illness fall into one of the required reporting categories as mandated by OSHA?” The categories are as follows: a. Days away from work b. Medical treatment beyond first aid c. A significant injury or illness diagnosed by a physician or other licensed health care professional d. Restricted work or transfer to another job e. Loss of consciousness f. Death 3. “When do I begin counting days away from the job after the injury occurred or the illness began?” While this may seem like a small detail, OSHA will enforce strictly, so it is important to know that you begin counting days away on the day AFTER the injury occurred or the illness began. 4 “Do I record and incident that involved a positive drug test?” This is one of many areas in which OSHA differs from Workers’ Compensation, or creates a “grey area.” When it comes to OSHA recordkeeping, a pos-

52 | GIADA Independent Auto Dealer JUL/AUG 2015 | CELEBRATING 60 YEARS

itive drug test DOES NOT change the requirement to record the incident. In many cases, OSHA standards make an injury more likely to be reported than worker’s compensation. One area that always creates confusion is the OSHA definition of “first aid” events which are not recordable injuries. Unfortunately, OSHA’s list of “first aid” events doesn’t always make sense. As a result, an employer will often record items which are actually “first aid.” It is imperative that auto dealers know the regulations list and strictly apply it. The application is fairly simple – it isn’t “first aid” if the response activity is not on the list. At first glance, these new OSHA regulations might seem completely overwhelming for auto dealers. The good news is that they become much more manageable once they become habit. With so many “nitpicky” details counting towards compliance and OSHA’s ability to perform “surprise” visits to check on compliance, the time is now for auto dealers to get to know their resources to help put a plan in place to ensure full mastering of the new regulations. n

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