October 17, 2007
Volume #1, Issue #42

  DEALER NEWS & INFORMATION

     - NADA News Alert: Energy Talks

       to Begin, but Not on 3 Key Issues

     - Automotive News at a Glance

 

  LEGISLATIVE STATUS REPORTS

     - CADA Legislative Policy Committee

       Meeting to be Held Next Week


  REGULATORY & LEGAL UPDATES
     - Legal Compliance: Paper or Profit?

  UPCOMING SEMINARS

     - NADA Adverse Action Webinar

     - NEW: Service Director Legal

       Compliance Seminar

     - F&I Resource Center: F&I Associate

       Development and Education

      
  CALENDAR OF EVENTS

     - Mark Your Calendar:

       Get Away Without Going Away

     - Upcoming Events

     - CADA Regional Member Briefings

  DEALER MILESTONES,
     HIGHLIGHTS & TRANSITIONS

     - Let Us Know About YOUR
       Accomplishments

 



    ARCHIVES

       CLICK HERE for Open Road
       e-newsletter archives.

 

       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 detail 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
.

 



 
www.nada.org
 


 

    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

 


If you have questions or
suggestions regarding this
e-newsletter, please
contact Tim Jackson at tim.jackson@cadaonline.org 

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




Visit us at www.cadaonline.org.


   Need Acrobat Reader to view linked documents?  Click here for a FREE download from Adobe.

 

--------------------------------

CLICK HERE to learn more about the F&I Associate Development and Education by Jan Kelly...

 

 

nada news alert: ENERGY TALKS TO BEGIN,

BUT NOT ON 3 KEY ISSUES

 

Negotiations on a major energy bill begin Monday - but Democratic leaders have already drawn fire for taking the three biggest and most contentious issues off the table.

The three issues those leaders cite as their top priorities in crafting new energy policy - raising vehicle fuel economy standards and setting nationwide mandates for renewable fuels and electricity - will not be up for discussion as Energy Committee staffers from both chambers and parties convene to start hammering out a compromise bill.

 

CLICK HERE to for the full alert from NADA.
 

* * * * * * * * *

 

AUTOMOTIVE NEWS AT A GLANCE

 

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

  • Auto standards could change
    Grand Junction Sentinel, Oct. 13
    New-car buyers could find themselves with limited and expensive choices should Colorado throw in with California on efficiency standards, new-car dealers said.
     

  • NADA Chairman Dale WilleyChanging auto sales market created new opportunities for industry, says NADA chairman: Willey outlines challenges, progress in speech to automotive press

    www.NADA.org

    NADA Chairman Dale Willey said the changing auto sales market is an opportunity for manufacturers and dealers to “transform problems into opportunities.”
    “Loss of market share and higher gas prices create an opportunity for the auto industry to reinvent itself,” said Willey, in a speech to the Automotive Press Association in Detroit. “Those higher prices create an opportunity to design and sell more efficient vehicles.” CLICK HERE to for the full text of Willey's speech.

     

  • Detroit's 3 finally on track, tough critic says

    Detroit Free Press, Oct. 14

    Chalk up this past week as a big win for the home team, Detroit's three automakers.  

     

    General Motors Corp. workers ratified a new labor contract by a ratio of nearly 2-1.

     

    Chrysler LLC and the UAW forged a new tentative pact with only a hiccup of a 6-hour work stoppage.

     

    Ford Motor Co. lured marketing hotshot Jim Farley away from Toyota Motor Corp.

    GM stock surged past $40 a share for the first time in more than two years, closing at $42.64, up 11.6% on the week. Ford shares rose 10% to $9.20.

     

    Footnote:  Maryann Keller served as Keynote Speaker at the Metro Denver Auto Dealers Association luncheon last November. She is widely regarded as one of the top auto industry watchers and analysts in the nation.

     

  • Leno leaves 'em laughing

    The Detroit News, Oct. 13

    Jay Leno entertained about 3,000 Chrysler LLC dealers at a North American sales meeting in Las Vegas this week.

     

    The Tonight Show host opened his routine with crowd-pleasing jokes. He said he was glad he didn't have to attend a "Chrysler event and speak German" -- in a reference to Chrysler's former owners in Germany.

     

  • FOX News Poll: Feeling nervous about the economy
    FOXNews.com, Oct. 15

    NEW YORK —  Americans see a nation nervous about the economy these days, and majorities not only rate economic conditions negatively but also say they think things are getting worse. At the same time, most people say they feel confident about their personal financial future and about keeping their jobs.

CADA forwards news articles and opinion columns of interest through 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..


 


CADA LEGISLATIVE POLICY COMMITTEE MEETING TO BE HELD NEXT Week

 

The next meeting of the CADA Legislative Policy Committee is scheduled for 7:30-9:30 a.m. next Thursday, Oct. 25, 2007 in Denver at the William D. Barrow Building (CADA headquarters), 290 East Speer Blvd. With the open of the 2008 legislative session just starting, this is an opportunity for dealers to participate and offer their insight on issues of importance. The topics up for discussion include:

  • Emission and CAFE standards proposals

  • Tightening Colorado’s franchise act

  • Manufacturers selling retail

  • Sunday sales

  • Lender five-day release of title

  • Temporary registration processes

  • Off-site sales permits

  • Advertising regulations

If you are interested in attending, please send an e-mail to  rsvp@cadaonline.org or call 303.831.1722.

 


 

 

LEGAL COMPLIANCE: PAPER OR PROFIT?

By Emily Marlow Beck*

 

You say tomato, I say to-maa-to. You eat potato, and I eat po-taa-to. And, when it comes to special finance and buy here, pay here, you say profit, and I say paper. 

 

After all, isn’t it usually the rule that the lower the customer’s credit score, the higher the number of trees that will be killed in getting the deal done? From a compliance standpoint, the more paperwork required in a deal, the more chances there are to make paper-related mistakes. And, although the rules that govern automobile finance are the same regardless of the customer’s creditworthiness or the dealership’s department, some compliance errors are more likely to show their ugly heads in the special finance or buy here, pay here departments.  

 

Admittedly, there are great opportunities for dealers who go confidently and compliantly into the sub prime auto finance world (I heard you say “profit” after all). So, before you make like Astaire and call the whole thing off, consider tightening up your paper practices. To help you get started, here are some of the biggest mistakes I see when working with special finance departments and buy here, pay here dealerships.

 

CLICK HERE to  read the full article. 

 

*Copyright 2007. CounselorLibrary.com, LLC, all rights reserved. This article appeared in Spot Delivery®. Reprinted with express permission from CounselorLibrary.com, LLC.

  -----------------------------------------------------------------------------------------------------------------------

 

If you have questions on any legal or regulatory topics, 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..

 


F&i RESOURCE CENTER: F&I ASSOCIATE Development and Education

 

At this training session, strategies and techniques will be introduced that are necessary to stay at the controls of the F&I process and address the hot topics in regards to compliance issues and how to grow profit and penetration. Jan Kelly, president and principal consultant of Kelly Enterprises Inc., will utilize her 25+ years of industry experience to train these important areas.

 

Sales Associate Development and Training
by Jan Kelly of Kelly Enterprises Inc.

 

Nov. 13-14 from 8:30 a.m. to 4:30 p.m. both days

William D. Barrow Building (CADA headquarters),
290 E. Speer Blvd, Denver 80203

 

DAY 1           

Package presentation by the book / closing with a Menu

Rules of negotiation – making everyone a winner

Turning Products – VSC, GAP, CL and A&H objections into options

Cash to finance / leasing opportunities

 

DAY 2            

Deal Documentation / Installment Contracts

Regulation B / Equal Credit Opportunity Act (ECOA)

Regulation M & Regulation Z / Truth in Lending

Fair Credit Reporting Act (FCRA) / Gramm-Leach Bliley Act (GLB)

Safeguard Rules

 

REGISTRATION: CLICK HERE to download the flyer and registration form. Contact Chad Julius at  chad.julius@cadaonline.org or 303.319.8039 for more information on this CADA member-only training. Reservations must be made by Wednesday, Nov. 7! Don’t delay…call today and reserve your spot!

 

Topics

City

Date/Time

Location

NADA Webinar Online

NEXT WEEK!

Tuesday, Oct. 23
 11 a.m.-1 p.m. MST (1-3 p.m. EST)

CLICK HERE to register. The fee is $199 per computer connection. Email any questions to seminars@nada.org or call 703.821.7273.
Service Director Legal Compliance Seminar
CADA - Service Department

Denver

Wednesday, Nov. 7
8 - 11 a.m.

breakfast included

William D. Barrow Building
(CADA Headquarters)
290 E. Speer Blvd,  80203
(SW Corner of Grant/Speer)
Phone: 303.831.1722
Registration material available soon...stay tuned!
Service Director Legal Compliance Seminar
CADA - Service Department
Colorado Springs Wednesday, Nov. 7 12:30 - 3:30 p.m.

lunch included

 

Antlers Hilton, Learning Center Training Room

4 South Cascade Ave.

Colorado Springs,  80903

Phone:  719.955.5600

Colorado Springs Auto Dealer Association members should register with Anne Winslow at CSADA:  719.473.1465 or abwinslow@comcast.net.

Sales Associate Training and Education
by Jan Kelly of Kelly Enterprises Inc.
Denver Tuesday, Nov. 13 and Wednesday, Nov. 14
8:30 a.m. to 4:30 p.m. both days
William D. Barrow Building
(CADA Headquarters)
290 E. Speer Blvd,  80203
(SW Corner of Grant/Speer) CLICK HERE for more information or contact Chad Julius for registration information at 303.319.8039 or chad.julius@cadaonline.org
Service Director Legal Compliance Seminar
CADA - Service Department
Glenwood Springs Friday, Nov. 16
8 - 11 a.m.

breakfast included

Hotel Colorado

526 Pine Street

Glenwood Springs, 81601

Phone:  800.544.3998

Registration material available soon...stay tuned!

Service Director Legal Compliance Seminar
CADA - Service Department
Montrose Friday, Nov. 16
12:30 - 3:30 p.m.

lunch included

Holiday Inn Express-Montrose

1391 S. Townsend Ave.

Montrose, CO  81401

Phone:  970.240.1800

Registration material available soon...stay tuned!

 


MARK YOUR CALENDAR: GET AWAY WITHOUT GOING AWAY

 

Supporting CADA is your ticket to

an exciting weekend

at the Broadmoor Hotel

in Colorado Springs, Nov. 10-11.

More details to come soon!

    

 

Event Description Date/Time Location
CADA Regional
Meetings

 

 

 

_______

MDADA
Annual
Membership
Meeting

Loveland, Boulder,
Craig, and Glenwood Springs meetings are
THIS WEEK!

CLICK HERE for a full list of meeting locations,
dates and times and
to register online.
_______

Tuesday, Nov. 27
11 a.m. to 2 p.m.
lunch included

rsvp@cadaonline.org

* Please note different RSVP
for Colorado Springs and
Pueblo meetings.

_______

Cherry Hills Country Club
4125 S. University Blvd.
Cherry Hills Village, 80113

Attendees can register through
CADA via phone, fax or e-mail.
P: 303.831.1722
F: 303.831.9100
E-mail: rsvp@cadaonline.org

CADA Legislative Policy Committee – Planning Session for 2008 Legislative Agenda

NEXT WEEK!

Thursday, Oct. 25
7:30 to 9:30 a.m.

William D. Barrow Building
(CADA Headquarters)
290 E. Speer Blvd,  80203
(SW Corner of Grant/Speer)
Get Away Without Going Away  2007

Nov. 10-11
 

The Broadmoor Hotel
Colorado Springs
More details & invitation available soon!
NADA 91st Annual Convention & Expo Feb.9-12, 2008 Moscone Center,
San Francisco, CA
Denver International
Auto Show
March 26-30, 2008 Colorado Convention Center, Denver
CADA Golf Event

Monday, Sept. 8, 2008

Columbine Country Club
17 Fairway Lane
Columbine Valley, 80123


 


 

LET US KNOW ABOUT YOUR ACCOMPLISHMENTS!!!

Have you or anyone else at your dealership won an award recently? Has 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@cadaonline.org.  Also include your contact information for further follow-up.

 


If you want to be added to our mailing list, please click here.
 


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

 

Copyright 2007 Colorado Automobile Dealers Association.  All Rights Reserved.