June 9, 2015

TITLE SPONSOR OF THE
2015 CHARITY PREVIEW PARTY

IN THIS ISSUE

SPECIAL ANNOUNCEMENTS

CADA Successfully Launches Next Generation Dealer Program

Registration is now available! CADA Annual Member Golf Event

CADA F&I Resource Center

CADA Would Like To Thank Our Sponsors From the Charity Preview Party and Innovative Dealer Summit

DEADLINE EXTENDED TO JUNE 30! Participation In 2015 Dealership Workforce Study

Check out CADA's Blogs

 

UPCOMING SEMINARS & EVENTS

KPA WEBINAR - The Key to Implementing a Successful I2P2 Program and Preventing Future Injuries

SAVE THE DATE! CADA Annual Member Golf Event

Did you miss CADA¹s December 30

Webinar On Recalls Featuring Auto Industry Attorney Michael Dommermuth? Purchase it On Demand!

All Seminars & Events

 

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

Bankruptcy / Lien Perfection Timing Re-Cap

Electronic Lien & Title Implementation: Now 'Live'

 

LEGISLATIVE UPDATE

Congress Won't Preserve Consumer Discounts Without Your Help

CADA Bill Tracker

 

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


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.

open_sign


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.dealertrack.com

Dealertrack Technologies
 
- Dealer Management System (DMS)

________

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.


CADA 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.


CADA SUCCESSFULLY LAUNCHES NEXT GENERATION DEALER PROGRAM

On June 3, CADA officially launched its Next Generation Dealer Program. Under-45 superstars from dealerships from around the state converged at the Vehicle Vault in Parker, CO to network, learn more about the association and its efforts on their behalf and discuss the future of the Next Generation Dealer Program. State Reps. Crisanta Duran and Alec Garnett joined the group and Sarah Landry, Chief Operating Officer for the Colorado Oil and Gas Association spoke to the group about their successful Next Generation program, EnGen. Following the meeting, the group had a great dinner together and a private tour of the impressive car collection at Vehicle Vault. Click here to see more pictures from this great event. 

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REGISTRATION IS NOW AVAILABLE! CADA ANNUAL MEMBER GOLF EVENT

REGISTER ONLINE!

Whether you enjoy playing a full 18 or you’d rather beeline it straight to the 19th hole. Whether you’re a scratch player or you’re so bad you’ve had your ball retriever re-gripped. No matter where your game is these days, you’re guaranteed to enjoy the beauty and challenge of a mountain course as you tee off at a J. Press Maxwell Golf Course while networking with your colleagues, clients, prospects and peers. 

Nestled in the picturesque foothills of Golden, CO, The Club at Rolling Hills is sure to please golfers of every skill level.

Monday July 27, 2015
The Club at Rolling Hills
15707 W. 26th Avenue
Golden, CO  80401

Contact Marsha Ferm at 303.888.9100 or marsha.ferm@coloradodealers.org for sponsorship opportunities.

To register online, please CLICK HERE

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CADA F&I RESOURCE CENTER

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CADA WOULD LIKE TO THANK ALL OUR SPONSORS FROM THE CHARITY PREVIEW PARTY AND INNOVATIVE DEALER SUMMIT

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DEADLINE EXTENDED TO JUNE 30! PARTICIPATION IN 2015 DEALERSHIP WORKFORCE STUDY

NADA’s fourth annual Dealership Workforce Study (DWS) is open for participation at www.nadaworkforcestudy.com. Designed to help dealers address the challenge of attracting and keeping the best employees, the DWS collects data on compensation, employee benefits, retention and turnover, and work schedules and hours of operation, and reports on these as well as on demographic issues such as the gender and generational gaps in the dealership workforce.  Participation, which involves completing a survey and uploading payroll data, is free and open only to NADA and ATD members.

Participants to-date:

DEALERSHIP Stores
Alpine Buick GMC 1
Berthod Motors Inc 1
Emich Chevrolet 1
Emich Volkswagen 1
Faricy Ford Lincoln Inc 1
Glenwood Springs Ford 1
Glenwood Springs Subaru 1
Hellman Motor Co 1
Markley Motors Inc 1
McCandless Truck Center LLC 3
Medved Chevrolet Cadillac 4
Montrose Ford Nissan 1
Mountain Chevrolet 1
Stapp Interstate Toyota Scion 1
Summit Ford 1
Suss Buick GMC Truck 1
The Faricy Boys Chrysler Jeep 1
TOTAL 22
A blue fill means they have completed the survey, but not the payroll upload.
A green fill means they have completed everything—survey and payroll.
A blank fill means they have enrolled only (and done nothing else).

Participants receive two complimentary reports—a customized report comparing their own dealership's data against aggregated data from peers in their region and the nation, and an overall analysis of the industry and data for each region of the U.S.

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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.


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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.



BANKRUPTCY / LIEN PERFECTION TIMING RE-CAP

We periodically receive calls when dealers fail to perfect a lien in time, and the customer ends up filing bankruptcy.  In these situations, the dealer typically receives a demand letter from the lender for the full amount of the loan.  Many consumers tend to buy a vehicle just prior to filing bankruptcy so these mistakes can be very costly.  A re-cap of the key requirements:

  • The lien perfection timing becomes important in situations where a customer files bankruptcy within ninety days of purchasing a motor vehicle (a “preferential transfer” window under federal bankruptcy law)
  • The dealership has THIRTY DAYS from the date the customer takes possession of the motor vehicle to perfect the lien in order to obtain the protection of a federal “safe harbor” statute
  • The date of lien perfection is the “date received” in the county office.  The only items that are required to be present in order to submit paperwork and perfect a lien are below:
    • Signed original or signed duplicate of the installment contract containing:
      • name and address of the debtor;
      • name and address of the mortgagee or name of the mortgagee's assignee;
      • make, VIN, and year of manufacture of the mortgaged vehicle; and
      • the date and amount of the loan secured by the mortgage
    • Certificate of title or application for certificate of title
    • State filing fee ($7.20)

The “date received” is not contingent upon being entered into a computer system, all taxes identified correctly, or other delay over which the dealership may not have control.  Dealerships should ensure a tracking mechanism to document when paperwork was received—obtaining a stamp or other proof from the county.  Ideally, a stamp on the actual loan documents is preferred because copies are retained electronically.  Even a date-stamp on a list or packet of deals delivered that day would provide some evidence of delivery.  Counties are obligated to record and enter the ‘date received’ into their computer systems.

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Electronic Lien and Title (ELT) went ‘live’ on May 26th.   There are four participating service providers, and seventy-five lenders participating to-date.  For new transactions to move electronic, dealers must submit the title application with the 20-character ELT ID number that dealers will need to obtain from participating lenders.

Continue to visit the state  Electronic Lien and Title page for updated information – including a listing of lender E-numbers that will be posted and updated as new lenders sign up to participate.   Click here for a listing of participating lenders and their ELT ID numbers.

Visit the prior summary in the Open Road, April 14th issue for more information. 

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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.



CONGRESS WON'T PRESERVE CONSUMER DISCOUNTS WITHOUT YOUR HELP
NADA Director's Column, By Bill Fox
April 28, 2015

The effort to preserve dealer-assisted financing continues with NADA and its valued partners. With the introduction of H.R. 1737, Congress is continuing its bipartisan efforts to rescind the Consumer Financial Protection Bureau's flawed 2013 auto finance guidance.  

The House bill, "Reforming CFPB Indirect Auto Financing Guidance Act of 2015," was introduced by Reps. Frank Guinta (R-N.H.) and Ed Perlmutter (D-Colo.)

Lawmakers on both sides of the aisle recognize that the CFPB's overreach into our industry would not only harm the intensely competitive indirect auto lending market but, most importantly, would harm consumers by limiting their ability to obtain discounted auto financing from their local dealers.  

How?

The auto finance market is extremely competitive, with thousands of banks, credit unions and other lenders competing to provide loans—and that competition drives interest rates down. Not only do dealers help customers tap into that market and find great financing options, but dealers can then discount those great rates even further. The financing market may be complicated, but the reality is not: Dealers help consumers save money on auto loans. That's why 80 percent of new-car buyers chose to finance through their dealership.

But the CFPB wants to eliminate this competitive marketplace and rate discounting. It has proposed an inflexible system of price fixing and flat fees that will destroy competition and lead to higher interest rates for everyone.

Instead of protecting consumers, the CFPB's policy to eliminate discounts in the showroom would prevent consumers from saving millions of dollars each year through dealer-assisted financing. 

H.R. 1737 would establish important consumer safeguards. First, it would require the CFPB to study the true impact on consumers before a new guidance is issued. The bill also includes provisions for a public comment period; consulting with the agencies that share jurisdiction over the indirect auto financing market; and disclosing its testing methodologies prior to issuing any future guidance related to indirect auto credit.

These are all steps every other federal agency must take before issuing market-altering rules or regulations. There's no reason the CFPB shouldn't be held to the same standard.

The National Automobile Dealers Association—and its 16,000 dealer members—applaud Congressional efforts to protect consumer interests. We applaud the leadership of Reps. Guinta and Perlmutter. And we stand behind our financing model and will work hard to make sure it is available for the benefit of customers nationwide. 

Be sure to urge your members of Congress, especially your Democratic representatives, to cosponsor H.R. 1737. 

To view the bill text and issue brief, visit www.nada.org/cfpb. For more information, contact NADA's legislative affairs office at legislative@nada.org.   

Bill Fox is 2015 NADA chairman and a multi-franchise dealer in the upstate New York cities of Auburn and Phoenix.

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CADA BILL TRACKER

Follow the Colorado Auto Dealers Bill Tracker HERE!


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

Thursday June 11, 2015, 10:00 am Mountain Time
10-11am (MST)

The Key to Implementing a Successful I2P2 Program and Preventing Future Injuries

Unlocking Injury and Illness Prevention Programs

Most fatalities and life altering events that happen at workplaces don't result from unknown or unpredictable circumstances, or from weird occurrences. The vast majority of these incidents are usually run-of-the-mill, including incidents such as distracted driving, falls, and accidental contact with objects and equipment. Most of these accidents are preventable, and that’s where your Injury and Illness Prevention Program (I2P2) comes into play.

Join KPA expert, Lori Matthews, as she dives into Injury and Illness Prevention Programs. She will discuss:

  • The ins and outs of I2P2.
  • Why I2P2 is important for your business.
  • How I2P2 saves money and streamlines processes. 
  • How to develop I2P2s.

Click here for upcoming Human Resources webinars.

Click here for upcoming EH&S webinars.


Previously recorded webinars are also available

aa

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

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

SAVE THE DATE! CADA Annual Member Golf Event

July 27th, 2015

12 pm (noon) - Registration, practice range and boxed lunch

1 pm - Shotgun start, scramble format
After play - Awards Reception


The Club at Rolling Hills

15707 W. 26th Avenue, Golden, CO  80401

CLICK HERE for more info.

 

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

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


 

35 YEARS OF RAISING THE STANDARD IN F&I


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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