JULY 2, 2008


IN THIS ISSUE

  DEALER NEWS & INFORMATION

CADA Launches NEW Website

Automotive News at a Glance

NADA Dealer Attitude Survey Goes Online


  REGULATORY & LEGAL UPDATES

Colorado Consumer Credit Code; Dealerships May Need to Register with State

Title Processing Reminders

 

  UPCOMING SEMINARS

F&I Compliance Training

*New* Red Flags Rule & Privacy/ Safeguards Re-cap

Lifeline to Profits Seminar

Salesperson Training/Personal Development


CALENDAR OF EVENTS
Upcoming Events
Fall 2008 Regional Member Briefings


DEALER MILESTONES,
HIGHLIGHTS & TRANSITIONS

Share YOUR Accomplishments

 


ARCHIVES

CLICK HERE for Open Road
e-newsletter archives.

CLICK HERE for 2008 Regulatory
& Legal Articles
from the Open
Road e-newsletter.

CLICK HERE for 2007 Regulatory
& Legal Articles
from the Open
Road e-newsletter.

CLICK HERE for Bulletin archives.

CLICK HERE for Colorado Auto
Outlook
archives.

CLICK HERE for Denver 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
.



www.nada.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.


CADA STAFF

President
Tim Jackson
tim.jackson@coloradodealers.org
303.282.1448

Vice President
Tammi McCoy
tammi.mccoy@coloradodealers.org
303.282.1449

Vice President -
Public Policy & Communications
Nancy J. Burke
nancy.burke@coloradodealers.org
303.457.5115

Bond Coordinator
Linda Toteve
linda.toteve@coloradodealers.org
303.457.5122

F&I Resource Center -
Manager
Chad Julius
chad.julius@coloradodealers.org
303.457.5119

Insurance Services -
Account Manager
Deb Lay
deb.lay@coloradodealers.org
303.282.1453

Insurance Services -
Account Manager
Bob Kogel
bob.kogel@coloradodealers.org
303.282.1457

Executive Assistant/Member
Resources Coordinator
Lauren Stadler
lauren.stadler@coloradodealers.org
303.457.5123

Services Coordinator
George Billings
george.billings@coloradodealers.org
303.457.5117


If you have questions
or suggestions
regarding this
e-newsletter, please
contact Nancy Burke at
nancy.burke@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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ENDORSED VENDOR/PROGRAMS

CLICK HERE for a list of current
Endorsed Vendors/Programs
.
Click on any of the logos below to
to go directly to a vendor's webpage.


Formerly Commercial
Lighting and Electric


REYNOLDS AND REYNOLDS


Merchant Services

 


If you have trouble viewing any of the links or documents in this e-newsletter, please CLICK HERE to access the web-based version.


CADA Open Road subscribers top 1,800!

Since its launch a year and a half ago, the Open Road has been distributed on a weekly basis to CADA members and other subscribers...and the number of receivers continues to grow!

Please feel free to forward this message to anyone
you feel will find it helpful. If you want to be added
to our mailing list, please CLICK HERE.

* * * * * * * * *

CADA LAUNCHES NEW WEBSITE

CADA is pleased to announce the
launch of our new website at
www.coloradodealers.org

We trust you will find this site to be user-friendly, informative, and beneficial. All prior staff e-mails will continue to work during a transition period; however, the new email format will be as follows: firstname.lastname@coloradodealers.org. Please update your contact information and visit our new URL often as we will continue to add new features and content.

If you have questions or comments, please contact Tammi McCoy at 303.282.1449 or tammi.mccoy@coloradodealers.org.

* * * * * * * *

AUTOMOTIVE 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.

  • McCain: Set U.S. limit for car CO2
    The Detroit News, June 28
    Republican presidential candidate John McCain said Friday he favors nationwide limits on carbon emissions from cars, a position that addresses one major worry of Detroit's automakers but could create new problems for them.
  • Prices Curtail U.S. Gasoline Use
    The Wall Street Journal
    , June 20
    Lofty energy prices and a weak economy have combined in the past year to rein in U.S. gasoline consumption in what many experts believe will be an enduring shift in the way our nation burns fuel.
  • Record-high pump prices appear to slow down
    Dallas Business Journal, June 20
    Gasoline prices appear to be slowing, after more than a week of daily runs to new record highs, according to AAA Texas.
  • EPA May Limit Fuels' Greenhouse Emissions
    The Wall Street Journal, June 20
    The Environmental Protection Age
    ncy's staff, under pressure to deal with climate change, is considering whether to set limits on greenhouse-gas emissions associated with gasoline and other transportation fuels.
  • EPA's draft raises mpg
    The Detroit News, June 19
    The Environmental Protection Agency says in a draft regulation that automakers could improve fuel efficiency standards to as high as a fleet-wide average of 38.3 miles per gallon by 2020.
  • The real oil failure
    New York Post, June 20
    Denouncing the "failed policies of the past" has become the Democratic Party catechism. Yet Democrats didn't applaud this week when President Bush changed his long-held position on offshore drilling.
  • Drivers paid to retire old cars
    The Detroit News, June 30
    In January, Texas unveiled a $45 million annual program, dubbed "Drive a Clean Machine" that offers up to $3,500 toward a new vehicle for consumers in Austin, Houston and the Dallas-Fort Worth area who make lower incomes and own a vehicle at least 10 years old.

* * * * * * * *

NADA DEALER ATTITUDE SURVEY GOES ONLINE

The NADA Dealer Attitude Survey (DAS) is now going to be collected and managed exclusively on line. Under the new system, NADA will no longer mail paper surveys to dealers. The move to online-only will significantly speed up survey processing time and allow NADA Industry Relations to report the results of face-to-face DAS meetings with manufacturers back to the dealers who completed the survey.

“The online-only methodology allows us to provide important and timely information to dealers in a manner that previously was not possible” noted Michael Regan, NADA’s VP of Industry Affairs. 

NADA has designed a new full-service DAS website at www.nadasurvey.com to facilitate the move to online-only. CLICK HERE for more details.


SAVE THE DATE!
Dealer Management
and Leadership Summit

Wednesday, August 13 ~ 8 a.m. to 7:30 p.m.
Marriott Denver South ~
Park Meadows Drive

John McEnerney, NADA Chairman for 2009, will be a dinner speaker at the 2008 Summit . Other speakers and informational programs are in the works. More information on speakers/agenda will be posted as finalized: www.coloradodealers.org/summit


CADA forwards news articles and opinion columns of interest
through the Open Road to inform members of current events.
These in no way reflect the views, opinions, and/or positions
of CADA or its member dealers. They are sent for
informational and educational purposes only.


COLORADO CONSUMER CREDIT CODE; DEALERSHIPS MAY NEED TO REGISTER WITH THE STATE

IF YOU DO NOT SELL OR ASSIGN ALL RETAIL INSTALLMENT SALES CONTRACTS WITHIN 30 DAYS,
 
OR
IF YOU PROVIDE YOUR OWN FINANCING

A Colorado dealership recently received a letter from the Colorado Attorney General’s office, which oversees enforcement of the Colorado Uniform Consumer Credit Code (UCCC). The letter reminds dealerships that they must file annual notice and pay a fee if they are a “creditor” – the letter indicates that term includes a business that “arranges financing from others or provides its own financing.”  HOWEVER, despite that broad definition, the fee and notice are NOT required under the following exception:

“If you sell or assign ALL retail installment contracts and leases within 30 days after you write them

Note that the cost to register is relatively small, but the LATE PAYMENT FEE for not registering if you were supposed to is $5.00 per calendar day. Stiffer penalties can also be imposed at the discretion of the UCCC Administrator. Dealerships are advised to register unless they are absolutely certain the above would never apply.

CLICK HERE for a copy of the notice letter, and attached registration/notice form. 

Please contact Tammi McCoy or Tim Jackson at CADA if you think you may need to register. We would like to hear from you on how the above may affect you.   

* * * * * * * *

TITLE PROCESSING REMINDERS

July 1st Sales Tax Changes:

A REMINDER that some sales tax rates changed on July 1, 2008.  Visit the June 25, 2008 Open Road issue for details. 


DR 2395 Title Application / VIN Verification--Revised Form (Latest revision date is 11/30/07):

Gilbert Ortiz, the Pueblo County Clerk & Recorder asked CADA to remind all dealerships to ensure they are using the most recent version of the DR 2395. They have experienced a dramatic increase in rejected paperwork because some dealerships are still using out-dated forms. The county cannot accept older forms because the state will reject them.

 

Visit the Department of Revenue – Titles and Registration section web site to ensure you are using the latest version of all forms:

CLICK HERE to link to the Colorado Department of Revenue – Titles and Registration section.
 

________________________________________________________

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

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.



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

www.coloradodealers.org/registration

F&I COMPLIANCE TRAINING

Compliance is a MUST in your F&I Department; don’t let your dealership be a lawsuit-waiting-to-happen!

  • This presentation will cover the F&I legal issues about which every dealership MUST be knowledgeable
  • Plaintiff attorneys and government regulators continue to successfully sue dealers locally and across the country.

Topics to be covered include the following:

  • Red flags rule requirements
  • Adverse action notices (even credit discussions can trigger)
  • OFAC Reporting – Do you have a written program?
  • How to handle negative equity
  • New state forms/requirements
  • Record retention rules
  • Proper sale of backend products
  • Payment packing
  • Proper treatment of bank acquisition fees
  • D&H fee class actions
  • Colorado GAP requirements
  • Used car buyers guide; what you probably don’t know
  • Advertising hot buttons
  • F&I Best Practices
  • Who’s getting sued and why
  • Update on various state and federal law changes that impact your F&I department
  • PLUS more—all with REAL WORLD examples!
CLICK HERE for more information
on this
training session.
Event Description
Date/Time
Location

F&I Compliance Training presented by Shawn D. Mercer, Myers & Fuller, P.A.
Montrose

Wednesday,
July 23
7:30 to 11:30 a.m.
BREAKFAST Session

Holiday Inn Express
1391 S. Townsend Ave.
970.240.1800
CLICK HERE to register for this event location.

F&I Compliance Training presented by Shawn D. Mercer, Myers & Fuller, P.A.
Denver

Thursday,
July 24
7:30 to 11:30 a.m.
BREAKFAST Session

William D. Barrow Building, CADA Offices
290 East Speer Blvd.
CLICK HERE to register for this event location.

F&I Compliance Training presented by Shawn D. Mercer, Myers & Fuller, P.A.
Fort Morgan

Thursday,
July 24
2 to 6 p.m.
DINNER Session

Comfort Inn
1417 Barlow Road
970.867.6700
CLICK HERE to register for this event location.

F&I Compliance Training presented by Shawn D. Mercer, Myers & Fuller, P.A.

Colorado Springs

Friday,
July 25
7:30 to 11:30 a.m.
BREAKFAST Session

Antlers Hilton Hotel,
4 South Cascade Ave.,
Colorado Springs, 80903 719.955.5600
*Colorado Springs dealers should register with CSADA, Ann Winslow, 719.473.1465

About the Presenter:  Shawn D. Mercer is a partner in the Myers & Fuller, P.A. law firm, www.dealerlawyer.com. His national practice is devoted solely to representing motor vehicle dealers, and he regularly works with dealers to address F&I matters, advertising compliance and consumer complaints. Mr. Mercer regularly represents dealers in disputes with manufacturers and consumers in mediations, arbitration proceedings and in state and federal court.

* * * * * * * * *

*NEW* RED FLAGS RULE COMPLIANCE SEMINAR:
PLUS: PRIVACY/SAFEGUARDS RE-CAP

Rob Cohen, auto industry compliance expert, will provide in-depth training on the new RED FLAGS rule
and a re-cap on Privacy/Safeguards Rules

Make sure you are aware of
these NEW compliance obligations:

Generally, the new regulations require automobile dealers to:

  1. Create and implement a written Identity Theft Protection Program with procedures designed to detect and respond to “red flags” indicating potential identity theft.
  2. Periodically review and update the written program to reflect changing risks.
  3. Train responsible staff members to follow the program.
  4. Oversee service providers (i.e., third party vendors).
  5. Involve senior management or owner(s) in approving the program and its administration.
  6. Prepare annual reports for senior management or owner(s).

Attendees will receive practical, step-by-step instruction on how to create and roll-out a Red Flags Program at your dealership.

Mandatory compliance date of Nov. 1, 2008

PLUS: Re-Cap of Safeguards and Privacy Rules: Dealers must have a Safeguards Program Coordinator, conduct a risk assessment, implement written safeguards to control risks, oversee service providers, and re-evaluate periodically.

CLICK HERE for more information
on this
training session.
Event Description
Date/Time
Location

*New* Red Flags Rule and Privacy/Safeguards Re-cap presented by Rob Cohen, Auto Advisory Services
Grand Junction

Monday,
Aug. 11
noon to 2 p.m.
LUNCH Session

Double Tree Hotel
743 Horizon Drive,
Grand Junction, CO 81506
970.241.8888
CLICK HERE to register for this event.

*New* Red Flags Rule and Privacy/Safeguards Re-cap presented by Rob Cohen, Auto Advisory Services
Denver

Tuesday,
Aug. 12
7:30 to 9:30 a.m.
BREAKFAST Session

William D. Barrow Building, CADA Offices
290 East Speer Blvd., Denver
CLICK HERE to register for this event.

*New* Red Flags Rule and Privacy/Safeguards Re-cap presented by Rob Cohen, Auto Advisory Services
Colorado Springs

Tuesday,
Aug. 12
noon to 2 p.m.
LUNCH Session

Antlers Hilton Hotel,
4 South Cascade Ave.,
Colorado Springs, 80903 719.955.5600
*Colorado Springs dealers should register with CSADA, Ann Winslow, 719.473.1465

About the Presenter:  Rob Cohen, Esq., President of Auto Advisory Services, is a sought-after speaker and trainer on a wide range of dealership sales and finance topics. Auto Advisory Services (AAS) has been providing assistance to automobile dealers since 1975. With over 550 dealership clients, AAS is the leader in dealership compliance issues.

Discount product offer to seminar attendees: AAS’s Information Safeguards and Identity Theft Manual is an in-depth tool for dealership compliance with the FTC’s Safeguard Rule and ID theft compliance and prevention. A new Red Flags Supplement is included as well. Over 1,500 copies have been sold nationwide. This “turn-key” manual makes implementing a dealership safeguards and ID theft program easy. It is regularly $325, but will be available for order at $199/copy at this seminar. See www.autoadvisory.com for more information.

* * * * * * * * *

LIFELINE TO PROFITS SEMINAR

In this intensive, two-day workshop, you will go through every aspect of your operation, taking a candid look at your dealership to develop a detailed action plan to implement within your store to achieve your dealership’s full profit potential. You'll leave this hands-on training with answers to the following questions:

  • Can I enhance and improve the performance of my dealership?
  • How do I effectively analyze my current dealership operations?
  • What's the best way to identify opportunities for change?
  • What steps do I take to fully capitalize on these new opportunities?
  • How do I tailor a plan specifically for my dealership?
  • What's the most efficient way to put my plan into action?

The NADA 20 Group program is providing industry-leading trainers to conduct the workshop. Each of the trainers has retail experience and will offer critical insight to help your dealership. You will take home a practical action plan specifically designed for YOUR dealership.

CLICK HERE for more information
on this
training session.
Event Description
Date/Time
Location

Lifeline to Profits Seminar

Thursday, Oct. 16 to Friday, Oct. 17
8 a.m. to 5:30 p.m.
Meals provided for each day

William D. Barrow Building, CADA Offices
290 East Speer Blvd., Denver

* * * * * * * * *

SALESPERSON TRAINING/PERSONAL DEVELOPMENT

Chip Thomas has received rave reviews providing salesperson training for other auto dealer associations across the U.S. Mark your calendar for this training event that will be offered twice in October. More details coming soon!

Event Description
Date/Time
Location

Salesperson Training/Personal Development by Chip Thomas

Oct. 14-15
Course offered twice; one-day each
More details coming soon!

 


Event Description
Date/Time
Location
ATAE (Automotive Trade Association Executives) Service Directors Meetings July 20-23 St. Julien Hotel, Boulder
CLICK HERE for a registration form. CLICK HERE to view sponsors. Contact Tammi McCoy for more details or if you are interested in sponsorship information.
Dealer Management & Leadership Summit

Wednesday,
Aug. 13
8 a.m. to
7:30 p.m.

Marriott Denver South at Park Meadows Drive (I-25 and Lincoln in Douglas County)
More information on speakers/agenda will be posted online as finalized: www.coloradodealers.org/summit
CADA Annual Member Golf Event Monday,
Sept. 8

Columbine Country Club
17 Fairway Lane
Columbine Valley, 80123
www.coloradodealers.org/golfevent

CADA Regional Member Briefings

CLICK HERE for a full list of locations, dates and times.

Eleven meetings for dealers across Colorado

Attendees can register through CADA via Phone: 303.831.1722, FAX: 303.831.9100, or E-mail: rsvp@coloradodealers.org
* Please note different RSVP
for Colorado Springs and
Pueblo meetings. 



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.


If you want to be added to our mailing list, please CLICK HERE.

To remove yourself from this list, click on this link.

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