April 7, 2015



Online Automotive Platform Sponsor

TITLE SPONSOR OF THE
2014 CHARITY PREVIEW PARTY

IN THIS ISSUE

SPECIAL ANNOUNCEMENTS

Tonight's the Night! Tickets for Charity Preview Party Still Available Online and Onsite.

Combat decorated Air Force fighter pilot and

New York Times bestselling author Lt. Col. (ret.) Rob ‘Waldo’ Waldman - The Wingman – to Keynote Innovative Dealer Summit

Denver Auto Show Industry Night

Denver Auto Show Coupon

Check out CADA's Blogs

 

CALENDAR OF EVENTS

Denver Auto Show

Charity Preview Party

 

a DEALER NEWS & INFORMATION

Did you miss CADA¹s December 30 Webinar On Recalls Featuring Auto Industry Attorney Michael Dommermuth? Purchase it On Demand!

Automotive News Best Practices

Clear The Air Foundation 60 Second Video

Auto Industry News at a Glance

 

REGULATORY & LEGAL UPDATES

NADA Releases Article on Ways to Preserve Cash Flow When Receiving Factory Image Payments

Electronic Lien & Title Implementation on Track for May 1st

 

UPCOMING SEMINARS

KPA WEBINAR - DEMO: myKPAonline Group Level and Facility Level Navigation

Did you miss CADA¹s December 30 Webinar On Recalls Featuring Auto Industry Attorney Michael Dommermuth? Purchase it On Demand!

Upcoming Seminars

 

ENDORSED PROVIDER

Federated Insurance: Auto Dealer Claim of the Month

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

 

ALLIED MEMBERS / ANNUAL MEMBER GOLF EVENT SPONSORSHIP ADS

35 Years of Raising the Standard In F&I

 

LEGISLATIVE UPDATE

NADA Supports Bipartisan Effort to Reform CFPB Auto Lending Guidance

CADA Bill Tracker


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.


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to view linked
documents?
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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

Workers compensation 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.


TONIGHT'S THE NIGHT! TICKETS FOR CHAIRTY PREVIEW PARTY STILL AVAILABLE ONLINE AND ONSITE

Tickets for the 7th Annual Charity Preview Party are available for purchase at www.CharityPreviewParty.com or by clicking here. Early bird pricing of $99.00 is available until March 24th. Starting March 25 through the day of the event, the price is $120.


 

 

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DENVER AUTO SHOW INDUSTRY NIGHT

The Colorado Automobile Dealers Association (CADA) is proud to present the 2015 Denver Auto Show. The five-day show opens to the public on Wednesday, April 8th and runs through Sunday, April 12th. On Friday, April 10, 2015, from 5 pm – 10 pm, CADA is pleased to once again offer “Industry Night” for all dealership employees. Industry Night allows each employee to bring two guests and/or immediate family members (two adults and three children maximum) to enjoy the auto show free of charge. CADA is sending promotional posters and a sample employee verification letter to each store in the state this week, so be on the look out for these materials in the next few days.

For free admittance, please present the following at the Exhibitor Check-In Desk (Upper F Lobby outside the show entrance): 

  • An original letter on dealership letterhead verifying employment. A separate verification letter is needed for each employee. 
  • A photo I.D. 

Please note that Industry Night is the only night dealership personnel are admitted free of charge to the show. They will be charged general admission prices at all other times. 

If you have questions, please contact Jordan Wagner at 303-831-1722 or e-mail Jordan.wagner@coloradodealers.org

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DENVER AUTO SHOW COUPON

The 2015 Denver Auto Show is quickly approaching and with that comes the return of the highly sought after and incredibly successful $2 off 2015 Denver Auto Show Dealer Coupon!

The $2 off Dealer Coupon allows each dealer to create a customized coupon with your dealership's logo for your distribution.  We've heard from dealers across Colorado that these coupons are not only popular, but a great way to re-engage customers and clients you may not have heard from in a while. Several dealerships report having sold cars as a result of distributing the $2 off coupon - even before the auto show.

If you are interested in using this very special coupon contact Daniel Diorio at Daniel.Diorio@coloradodealers.org or by phone at 303-831-1722 ext. 118 to receive the coupon template or for any questions. 


 

CHECK OUT CADA'S BLOGS

The 101” is CADA’s latest blog, featuring the Chair’s Column, written by 2015 CADA Chair Thom Buckley, which is printed in the Bulletin, CADA’S monthly print publication.

CADA also recently unveiled a new events and updates blog, which you can follow by clicking here.


Event Description
Date/Time
Location

Denver Auto Show

Wednesday, April 8 - Sunday April 12

Colorado Convention Center
700 14th Street
Denver, CO 80202

CLICK HERE for information

Charity Preview Party

Tuesday, April 7
7pm - 10pm

Colorado Convention Center
700 14th Street
Denver, CO 80202

CLICK HERE for information and registration details.


* * * * * * * *

CLEAR THE AIR FOUNDATION 60 SECOND VIDEO


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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.


 


NADA 60-second Email

Many auto dealers renovate their facilities as the result of factory-mandated image programs. These programs typically involve factory financial assistance to participating dealers to offset a portion of their investment. Dealers often assume they can reduce the cost basis of this investment by the amount of factory assistance received and are surprised to learn that IRS issuances to date on the topic, although informal and disagreed with by some dealer tax advisors, state that this amount is taxable income in the year it is earned.   

Dealers should be aware, however, that there are several mechanisms available to them that may be able to reduce the impact of the current tax obligation associated with factory image program payments. In a brief article entitled Tax Implications of Dealership Facility Image Upgrades, the dealer accounting firm Boyer Ritter outlines these mechanisms and provides an example of how applying them may help a dealer to preserve a manageable cash flow. Dealers are encouraged to share and discuss this article with their tax advisor.

* * * * * * * *

ELECTRONIC LIEN & TITLE IMPLEMENTATION ON TRACK FOR MAY 1ST
Limited scope in initial phase; changes for dealers will be minimal

Electronic Lien and Title (ELT) will soon be rolling out in Colorado – May 1st is the target implementation date.  An industry working group consisting of the dealer associations, the credit union association, Ent Federal Credit Union, Bellco, and others helped drive this legislation forward – HB13-1289 was passed in 2013.  The Department of Revenue (DOR) has been working hard to move this project forward, implement the computer system changes necessary, and develop materials to help all understand how it will work.  A webinar, FAQs, and more information will be coming in early April from DOR.  [Click here for the state ELT page; the state has begun to post this information].  Meanwhile, dealers will likely start receiving notices from lenders that plan to participate. 

Implementation and transition to electronic liens/titles will happen gradually as lenders must sign up with ELT service providers and any new transactions are then elected to be processed electronically.   Titles currently issued and in existence will be processed as they are today.

Under this new system, lenders must sign up with an ELT service provider that facilitates the exchange of data with the state.  After a lender becomes a registered “ELT” lender, paperwork will then be submitted with this ELT number*; then for the duration of the lien the title record and lien information is stored electronically.  Then, when the vehicle is paid off, that lender will transmit the ‘lien release’ to the state in a nightly data process.  The lender will not have to track, file and retrieve a paper title.  Additionally, in that data transmission, the Lender will be able to direct the state to mail the title directly to a dealer that paid off the lien.  Through this process, titles/liens will begin to move electronic as new deals are done.   

Key benefits to dealers include:

  • More timely receipt of titles after lien pay-off on trade-ins;
  • Reduction in consumer calls and complaints when title-delays run past the sixty-day temporary registration permit
  • Cost savings in staff time spent chasing after titles from lenders
  • Reduction in staff time responding to lender requests to prove the lien has been filed thirty-days from sale.

*ELT Number: A key aspect of the electronic process will require that dealers obtain the lender's ELT number in order to include it on the title application.  The ELT# can be printed /noted in the name/address box on the existing title application, and DOR will likely provide an updated title application with a space for this information as well.  It is only by inclusion of the lender ELT number that the title/lien moves electronic.

More information will be coming out in the month of April. 

* * * * * * * *

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 April 9, 2015, 10:00 am Mountain Time
10-11am (MST)

DEMO: myKPAonline Group Level and Facility Level Navigation

Understanding User Management Differences in myKPAonline

Join KPA’s MJ Zappe as she delves into myKPAonline, demonstrating the differences between group level and facility level navigation. MJ will also review log in errors, highlighting the value of the KPAMSDS log in, as well as ALI Token Management, including ALI training log ins and their differences.

Click here for upcoming Human Resources webinars.

Click here for upcoming EH&S webinars.


Previously recorded webinars are also available

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* * * * * * * *

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

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

Did you miss CADA¹s December 30 webinar on recalls featuring auto industry attorney Michael Dommermuth?

Purchase it On Demand!


Contact Trainor Walsh for more details:
trainor.walsh@coloradodealers.org
P: 303-457-5115

 

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


FEDERATED INSURANCE: AUTO DEALER CLAIM OF THE MONTH

Federated Insurance’s “Claim of the Month” – Could it happen to you?

A sales rep drove a high-end demo home. That evening, she took friends out for dinner and drinks. On the way home, she caused an accident that resulted in two serious injuries, and the death of a single mother of three.
CLAIM AMOUNT: $3.5 million

What policies are in place to help prevent this from happening at your dealership? Do you know who’s driving your vehicles? Federated Insurance recommends several best practices to help protect your business and manage risks; for example,

  • Know your drivers. Order MVRs on all employees who may drive company vehicles.
  • Limit the number of demos.
  • Transfer the risk: get the title out of the dealership’s name.

These are just a few loss control recommendations you can use to help protect your dealership. To learn more, contact your local Federated Insurance representative and request a copy of our Auto Dealer “Keys to Success” risk management education materials. Federated Insurance is recommended by 18 state and national auto dealer associations just like yours for customized insurance programs and value-added risk management services, such as Federated’s Shield Network®, the Risk Management Resource Center, and the Federated Employment Practices NetworkSM. Visit www.federatedinsurance.com to discover resources you can use to create or ramp up your own risk management program, or to contact your local representative.

CLICK HERE to download a copy of this article.

Federated Mutual Insurance Company • Federated Service Insurance Company* • Federated Life Insurance Company Owatonna, Minnesota  55060 • Phone: (507) 455-5200 • www.federatedinsurance.com *Not licensed in the states of NH, NJ, and VT.

This article is for general information regarding risk prevention and should not be considered legal advice. The claim example is only a basis for discussion and illustrates only one possible scenario. Coverage for actual claims will be determined solely by individual policy terms and facts of the claim. The recommendations presented are not guaranteed to reduce or eliminate any risk of loss. Seek qualified counsel regarding questions specific to your circumstances. © 2015 Federated Mutual Insurance Company.

Federated Insurance specializes in general liability/business insurance for selected industries, including auto dealers.  CADA members interested in more information, contact Mike Russell, Senior Account Executive, Cell: 480.216.5445 or mdrussell@fedins.com

* * * * * * * *

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


 

35 YEARS OF RAISING THE STANDARD IN F&I



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 

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CADA BILL TRACKER

Follow the Colorado Auto Dealers Bill Tracker HERE!


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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!

  • Tech race propels carmakers
    The Detroit News, April 3

    Apple's reported entry into the autonomous vehicle race will accelerate automakers' efforts in self-driving technology and could dramatically reshape the industry, experts said this week.
  • Toyota's Scion introduces first sedan, the iA
    USA Today, March 31

    Toyota's youth-oriented Scion brand, hoping to stage a comeback, introduced its first sedan Tuesday night at a reception ahead of the New York Auto Show.
  • Cadillac CT6 must drive into top tier of luxury sedans
    Detroit Free Press, March 31
    Here at last is the new Cadillac CT6, a car that workers at General Motors' Detroit-Hamtramck plant will begin building late this year, with a mission to shrink, if not erase, the gap between America's leading luxury car brand and its German and Japanese competitors.
  • Cadillac takes wrap off high-tech, luxury CT6 sedan
    The Detroit News, March 31

    General Motors Co.'s Cadillac brand, continuing on its path of image reinvention, debuted the full-size 2016 CT6 luxury sedan Tuesday in Brooklyn, near the brand's soon-to-be global headquarters.

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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