Don't Be Fooled by Fake Pay Stubbs
All dealers know that before they can approve financing for a customer they must verify his or her income and employment status. However, an increasing number of dealers have reached out to TIADA via our
Compliance Consultation Service (CCS) to report customers trying to use fraudulent pay stubs and employment information. We reached out to a few experts in the finance industry to see how dealers can avoid falling victim to these scams and detail some of their suggestions in
our latest blog post.
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OCCC License Renewal Deadlines Approaching
The deadlines for renewing licenses with the Office of Consumer Credit Commissioner are fast approaching. This year, dealers MUST use the online portal ALECS (Application, Licensing, Examination, and Compliance System) to renew their license.
CLICK HERE to log into the ALECS system and begin the renewal process.
CLICK HERE for a step-by-step guide on how to create an account and use the system to renew.
2017 License Renewal Dates
- June 3 - Renewal period opens
- July 1 - Renewals due
- July 31 - Final day to renew. Licenses expire at midnight.
- August 1 - Reinstatement begins. The late filing fee to renew or reinstate an expired license is $1,000.
- January 28, 2018 - Expired licenses canceled permanently
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Better BHPH Financials: How to Get Organized for Growth
Presented by David Keller, CPA
CliftonLarsonAllen
Tuesday, June 20 - Houston
The craziness of a busy BHPH operation can make it tough to plan for future growth. But sometimes you need to take a few hours off from working IN your business so you can work ON your business. This 1/2 day seminar will demomstrate how better organizing your financial and operations structures can be the key to growing your portfolio.
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Register Today for the 2017 Annual Conference & Expo, Save $100!
This year the education opportunities will be outstanding as the conference will feature over 30 hours of breakout sessions and discussion panels across five learning tracks. Gabrielle Garrison, Partner Manager with Facebook, is one of the featured presenters speaking this year. In the
video below, she previews her presentation which will focus on how you can use Facebook to squeeze every ounce of value out of your marketing budget.
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Wholesale Used Car Market Becomes "More Challenging"
Wholesale trading conditions for used cars have become "more challenging" according to the National Association of Motor Auctions (NAMA). In its monthly car auction data report, it said that first time conversion rates decreased by 8 percentage points to 75.3% compared to March.
READ MORE >
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Value Is Not Extinct with 2DollarCars
All cars sold with a TWO DOLLAR reserve, no gimmicks, no games. Many sold on GREEN LIGHT. View all of our fresh wholesale inventory and get monster rebates. Need help? Email [email protected]
MORE >
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Will Facebook Be the Next Big Thing in Online Used-Car Ads?
Courtney Hammons and her husband pulled into a church parking lot in Brentwood, Tenn., near Nashville on a Sunday afternoon this month to meet the seller of a 2007 GMC Yukon they saw advertised online. The couple were not worried about being robbed or becoming victims of the shenanigans that can happen with a vehicle purchase that originates from an online classified ad. They had a reason for being at ease: The ad that the couple responded to was posted on Facebook via a new feature called Marketplace, which the social media giant quietly rolled out last fall.
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BMW Recalls 45K Older 7-Series Cars
BMW is recalling 45,484 2005-2008 7 Series model in the United States because the doors could open unexpectedly while being driven, the National Highway Traffic Safety Administration said.
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Car Owners Are Holding Their Vehicles for Longer, Which Is Both Good and Bad
There are a lot of old "road warriors" traveling this Memorial Day weekend. That's because the average age of vehicles in the U.S. is a record 11.6 years, according to one recent study. That's not entirely a bad news story. The IHS Markit study showed that vehicles are being made with better quality nowadays, leading consumers to own them longer. According to IHS, the average length of ownership was a record 79.3 months, or nearly seven years.
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10% of Americans Trading-In a Car Plan to Use Uber and Lyft Instead of Buying a New One
Wally Nowinski got his first car when he turned 16 in Michigan, the home of the U.S. auto industry. But after two years of living in New York City, he sold his wheels, using ride services, carsharing and bike sharing to get around. "My mom didn't think I could do it. She thought I would buy a new car in six months," he said. But that was more than a year ago, and his car budget of $820 per month fell to $250 for carsharing and ride services last year. "I take Uber like pretty frivolously," he said.
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