December 30, 2014



Online Automotive Platform Sponsor

TITLE SPONSOR OF THE
2014 CHARITY PREVIEW PARTY

IN THIS ISSUE

a DEALER NEWS & INFORMATION

Last Change! Register for Today's CADA Webinar: Dangers Lurking for Dealers With Massive Recalls

Colorado Dealer Breakfast

Auto Industry News at a Glance

Automotive News Best Practices

Clear The Air Foundation 60 Second Video

 

SPECIAL ANNOUNCEMENTS

We Deliver Business

 

UPCOMING SEMINARS

SAVE THE DATE! CADA Webinar on Recalls featuring Fairfield and Woods attorney Michael J. Dommermuth

KPA WEBINAR - NO WEBINAR, HAPPY HOLIDAYS!

Upcoming Seminars

 

REGULATORY & LEGAL UPDATES

January 1st Sales Tax Rate Changes

Advertising Rule Changes Effective December 30, 2014

 

ALLIED MEMBERS / ANNUAL MEMBER GOLF EVENT SPONSORSHIP ADS

Accelerated Services

Heider, Tanner & Dirks, Inc., CPA

35 Years of Raising the Standard In F&I

 

ENDORSED PROVIDER

UniFirst... The Nation's Preferred Auto Uniform Supplier

 

LEGISLATIVE UPDATE

NADA Supports Bipartisan Effort to Reform CFPB Auto Lending Guidance

CADA Bill Tracker


CALENDAR OF EVENTS

Upcoming Events


DEALER MILESTONES,
HIGHLIGHTS & TRANSITIONS

Let Us Know About Your Accomplishments!

 

THE AFTERFACT

All the News That's Fit to Email!


ARCHIVES

CLICK HERE for Open Road
e-newsletter archives.

CLICK HERE for an Index of Regulatory
& Legal Articles
from the Open
Road e-newsletter.

CLICK HERE for Bulletin archives.

CLICK HERE for Colorado Auto
Outlook
archives.


ONLINE REGISTRATION

CLICK HERE to register online
for various CADA seminars & events.


MEMBERSHIP RESOURCES

CLICK HERE for details on the
Speaker and Educational
Resources
.

CLICK HERE for a list of current
Endorsed Vendors/Programs
.

CLICK HERE for a list of current
Allied Members
.

CLICK HERE for an order form for
CADA forms
.

CLICK HERE for information on all member services.



www.nada.org


www.aiada.org

CLICK HERE for NADA
Regulatory


Affairs information.

STATE GOVERNMENT RESOURCES

CLICK HERE for the Auto Industry
Division
of the Colorado Dept.
of Revenue.

CLICK HERE for the Title and
Registration section
of the
Colorado Dept. of Revenue,
Motor Vehicles Division.

CLICK HERE for the Colorado
Department of Labor &
Employment
website.




Visit us at www.coloradodealers.org.


CADA Hours of Operation
Monday to Thursday, 7 a.m. to 5 p.m.
Friday, 7 a.m. to 4 p.m.

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CADA STAFF

CLICK HERE for a CADA staff listing


If you have questions
or suggestions
regarding this
e-newsletter, please
contact Marsha Temple at
marsha.temple@coloradodealers.org

CLICK HERE or scroll to the bottom
of this page if you want to be
added or removed from our list.


Need Acrobat Reader
to view linked
documents?
CLICK HERE for a FREE
download from Adobe.


ENDORSED PROVIDER/PROGRAMS

CLICK HERE for information about the
Endorsed Programs
.

Contact Polly Penna at CADA to request more information on any of the programs below: polly.penna@coloradodealers.org

Choosing a CADA endorsed provider supports our work for the Colorado retail vehicle industry.
________

American Fidelity Assurance Company
www.afadvantage.com

Supplemental Employee Benefits
________

www.americanexpress.com

a Corporate Card - Rewards Program
________



www.bradfordpublishing.com

Dealer Retail Installment Sales Contract (“Rocky Mountain Bank Note”)
________

www.federatedinsurance.com

a General Liability
________

www.incom-direct.com

Merchant Transaction Processing
________

http://www.kpaonline.com/

HR Management & Online Compliance

Environmental / Health & Safety Compliance
________

www.lbtelecom.net

Telecommunications
________

https://www.nadart.org/

Retirement plan management
________

www.business.officedepot.com  

Office Supplies
________

www.unifirst.com

Uniforms / Standard Workwear
________

www.wfis.wellsfargo.com

Insurance Services

 


If this e-newsletter does not display correctly,
CLICK HERE
to access the web-based version.


aCADA Open Road is now beginning its eighth year of service, providing uninterrupted weekly news and information for Colorado automotive professionals to better compete in our industry, since its first issue on
Jan. 3, 2007.


LAST CHANCE! REGISTER FOR TODAY'S CADA WEBINAR - DANGER LURKING FOR DEALERS WITH MASSIVE RECALLS


COLORADO DEALER BREAKFAST


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AUTO INDUSTRY NEWS AT A GLANCE

Listed here are several articles pertaining to the auto industry in general that appeared recently in newspapers and other media outlets across the nation.


…more news articles are included at the end of this issue.


CLEAR THE AIR FOUNDATION 60 SECOND VIDEO


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The state Department of Revenue – Division of Taxation posts sales and use tax changes prior to January 1st and July 1st each year.  Dealerships should be aware of these changes and be on the lookout to ensure the tax database being utilized reflects these changes.  There may be a time-lag between the effective date and the update of these data sources. 

CLICK HERE for a listing of January 1, 2015 Sales Tax Rate Changes.

IMPORTANT ALERT:  SALES TAX INCREASES ARE EFFECTIVE FOR THE FOLLOWING:

Click here for information on the available databases that provide tax-rates by address.

Keep in mind that all self-collected jurisdictions must report and changes are effective on these two dates each year.  Home-rule jurisdictions, however, can change at any time, and while many still adhere to these timeframes and report to the state, their changes do not always shown up in this list.  

* * * * * * * *

ADVERTISING RULE CHANGES EFFECTIVE DECEMBER 30, 2014
Recent changes are minor

The Auto Industry Division, like other state agencies, is under a requirement by the Governor’s office to review all of its existing rules for any needed changes (20% per year is the goal).   Advertising rules were recently reviewed and fairly minor changes were proposed.  Click here to review the redline changes – these are effective Dec. 30, 2014. In summary:

  • The term “Computer Display” is defined to mean any electronic device capable of presenting a commercial message.
  • Rule 6 regarding “used” vehicles not being misrepresented as “new” was re-written to more simply state: 
    • A used vehicle shall not be advertised in any manner that creates the impression that it is new.
  • Rule 7 regarding types of prior history that must be disclosed upfront in advertising was modified to remove taxi cabs and police vehicles – primarily due to the difficulty of being able to determine this information with certainty.  Colorado and many states do not have brands on these uses and new services like Uber for example will make such use more difficult to determine.  The initial proposal was to add “prior rental vehicle” which would have created many of the same issues.
    • Salvage, rebuilt from salvage, and flood remain and are the three types of prior history that must be included in an advertisement if the dealer has knowledge of that history. 
  • Rule 13 that covers including all costs in an advertised price was modified to be clear that any/all government fees or taxes are clearly excluded.
  • Rule 14 covering rebates was modified to include a statement specifically targeting ads that combined rebates that are not all attainable (an issue the FTC has targeted in recent actions):
    • When advertising rebates, incentives, or other offers, a dealer shall not combine such offers or give the impression that such offers are obtainable, when in fact they are not.  

Three new rules were added:

  • Rule 17.  If any advertisement relates to a lease, the advertisement shall clearly and conspicuously disclose that the advertisement is for the lease of a vehicle.  [Note: this is already required under federal law].
  • Rule 18.  Statements, such as “Everybody Financed,” “No Credit Rejected,” “We Finance Anyone,” and other statements representing or implying that no prospective credit purchaser will be rejected because of his inability to qualify for credit, are prohibited, unless such statements are true.  [Note: false statements are already problematic].
  • Rule 19.  Bait advertising, as defined in § 18-5-303, C.R.S., is not allowed.
    • This is a mostly technical change to include the existing prohibition that is under criminal statutes to also be included in the dealer laws for enforcement reasons.

CADA will be working further with the Division and the dealer board on the development of industry guidelines to help convey and provide clarity to dealers how all of the advertising rules apply in various contexts and mediums. The advantage of such guidelines is that examples can be provided, and they can more easily be updated to address new technologies and practices. 

* * * * * * * *

If you have questions on any legal or regulatory topic, please contact:

Tammi McCoy, VP, tammi.mccoy@coloradodealers.org, 303.282.1449

Tim Jackson, President, tim.jackson@coloradodealers.org, 303.282.1448

DISCLAIMER: CADA is not authorized to dispense legal advice. The information contained in this weekly email is intended to provide important updates and reminders regarding statutes, litigation, and regulations. CADA always advises that dealers should consult legal counsel on the specifics of any laws or regulations to ensure proper compliance.


 

KPA WEEKLY WEBINAR: 
Covers an Environment & Safety or an HR topic each week

Thursday December 25, 2014, 10:00 am Mountain Time
10-11am (MST)

NO WEBINAR: HAPPY HOLIDAYS!

Click here for upcoming Human Resources webinars.

Click here for upcoming EH&S webinars.


Previously recorded webinars are also available

aa

* * * * * * * *

aTO REGISTER ONLINE FOR ANY CADA
SEMINAR OR EVENT, PLEASE VISIT:

www.coloradodealers.org/registration
Event Description
Date/Time
Location

CADA Webinar on Recalls featuring Fairfield and Woods attorney Michael J. Dommermuth 

Tues., Dec. 30

2:00-3:00pm

 

CLICK HERE for more info.!

KPA Weekly Webinar

Special Event: HR Practices Webinar for Group Dealerships


10:00-11:00am (MST)


CLICK HERE for upcoming topics and to register!

Previously recorded webinars are also available at the above link.

If you have a particular area of interest or would like to suggest a training seminar topic, please contact Marsha Temple at 303.457.5123 or marsha.temple@coloradodealers.org


ACCELERATED SERVICES

* * * * * * * *

HEIDER, TANNER & DIRKS, INC. CPA

* * * * * * * *

35 YEARS OF RAISING THE STANDARD IN F&I


UNIFIRST... THE NATION'S PREFERRED AUTO UNIFORM SUPPLIER



NADA SUPPORTS BIPARTISAN EFFORT TO REFORM CFPB AUTO LENDING GUIDANCE
  
NADA is urging Congress to pass HR 5403, a bipartisan bill that nullifies the Consumer Financial Protection Bureau's (CFPB) flawed guidance on auto lending and requires more transparency and accountability from the agency on future guidance.

The new bill, "Reforming CFPB Indirect Auto Financing Guidance Act," would allow the agency to reissue its guidance under a more transparent process.

As previously reported by NADA, in March 2013, the CFPB issued guidance that threatens to eliminate the flexibility of new-car dealerships to discount the interest rate offered to consumers to finance vehicle purchases. The CFPB claims that negotiated interest rates between dealers and their customers create a significant risk of unintentional "disparate impact" discrimination. However, there are a variety of legitimate business-related factors that can affect finance rates, such as beating a competing rate.

"HR 5403 is needed because it requires the CFPB to follow a transparent process when issuing auto finance guidance," said NADA Chairman Forrest McConnell. "The bill would rescind the 2013 auto finance guidance and require public participation for future guidance before it is issued."

NADA urges dealers to contact their House members today to co-sponsor HR 5403.

Find your House representative 

View NADA brief on HR 5403 

* * * * * * * *

CADA BILL TRACKER

Follow the Colorado Auto Dealers Bill Tracker HERE!


Event Description
Date/Time
Location

Stay tuned!

 

 

 

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LET US KNOW ABOUT YOUR ACCOMPLISHMENTS!

Have you or anyone else at your dealership won an award recently? Have you or your dealership provided any outstanding community service? We want to recognize such accomplishments. Please send us a brief write-up of the award or event along with any other information to milestones@coloradodealers.org. Also include your contact information for further follow-up.



ALL THE NEWS THAT'S FIT TO EMAIL!


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Colorado Automobile Dealers Association
290 East Speer Boulevard Denver, CO 80203
Telephone: 303.831.1722 | Facsimile: 303.831.4205
www.coloradodealers.org