TIADA UPDATE
TIADA News
Blog: Duty to Disclosure Known Vehicle Defects

TIADA's Compliance Consultation Service (CCS) received a call from a dealer who asked whether a dealer is required to notify potential buyers that a vehicle may be subject to an airbag recall.  The answer is no, disclosure is not required by law, but it is a very good idea. In our latest compliance blog, we offer some recommendations on how to present these types of disclosures to buyers. 

TIADA Concludes a Successful 2017 Conference
    

On Tuesday night, the 2017 TIADA Annual Conference & Expo wrapped up in San Antonio.  This year over 250 dealers visited with numerous sponsors in the sold-out exhibit hall, heard an inspiring keynote speech from Texas advertising legend Roy Spence and participated in over 30 hours of breakout sessions with some of the industry's leading experts. 

The conference ended on a high note with the Presidential Awards Banquet where the association honored numerous members for their contributions to the industry. Greg Phea of Austin Rising Fast was named this year's TIADA Quality Dealer of the Year. Others recognized included Bill Murphy of CP Insurance Associates who won the Presidential Award and Texas State Representative Justin Holland who won the Independent Award. Wayne Meagher of MD Auto Sales was also inducted into the Hall of Fame.

The big winner of the night was Martha Yanez of Don Carro who walked away with the $10,000 Special Membership prize. Congratulations Martha! 

(Left to right) Bill Murphy of CP Insurance Associates who sponsored the drawing, Martha Yanez and TIADA Execuitive Director Jeff Martin.

Lawmakers Address 2017 Conference Attendees 
  
This week several lawmakers were able to find time away from the current special session in Austin to travel to the 2017 Annual Conference & Expo to discuss with attendees the most recent legislative session and the key issues affecting the industry.

On Sunday, State Representative Roland Gutierrez spoke during the House of Delegates. State Representatives Trent Ashby and Oscar Longoria addressed attendees at the Opening General Session on Monday. Then on Tuesday, State Representatives Larry Phillips and Ryan Guillen participated in a discussion panel hosted by TIADA Executive Director Jeff Martin during the General Session Luncheon. Finally, State Representative Justin Holland spoke during the Presidential Awards Banquet.

The legislators repeatedly stressed the importance of dealers getting involved with the legislative process. The lawmakers urged dealers to reach out to their representatives to let them know what issues affect them and their industry.

Follow the link below to see images of the lawmakers addressing members at the 2017 Conference. 

Industry News
House Approves Resolution to Stop Arbitration Rule

The House approved resolution on Tuesday leveraging authority provided under the Congressional Review Act (CRA) to stop the Consumer Financial Protection Bureau's final rule prohibiting the use of class action waivers in arbitration clauses. Despite all House Democrats and one Republican voting against H.J. Res 111, the resolution cleared the chamber by a vote of 231-190.

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Ford Recalling 117,000 Vehicles for Safety Defect

Ford Motor Co. is recalling nearly 117,000 vehicles because the bolts in the seat, seat belt or seat belt buckle may fracture. The recall involves the 2014 F-Series pickup, 2014 E-Series van, 2014-2015 Ford Escape and the 2015 Lincoln MKC SUV. Most of the affected vehicles are in the U.S., but there are 20,681 in Canada and 1,510 in Mexico.
 
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We make it easy for you to buy the inventory you need. In addition to LIVE SALES Tuesdays at 2:00 p.m., Texas Direct Auto Auction also offers weekly ONLINE SALES Fridays from 10:00 a.m. to 3:00 p.m., giving you the freedom to buy cars on your schedule.  
What 71% of Adults Think Is in Their Credit History

Here is more evidence as to why customers sitting across the desk from you might be frustrated the rate attached to their installment contract isn't as favorable as they expect. A new survey from FactorTrust indicated most U.S. adults do not understand what is and what is not included in their credit history, and therefore impacting their credit scores.

A Dubious Doomsday Scenario: Subprime Autos Won't Trigger Crisis

A persistent automotive doomsday thesis that continues to have favor with some in the media and on Wall Street is that subprime auto loans are booming and creating the next great financial crisis. Don't believe it. As an economist who covered housing during the mother of all bubbles and subsequent financial crisis, I can confidently assert that what is happening today is not setting the stage for 2008 all over again.

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Patty Huber, Director of Associate Member Relations, 512.244.6060 | Download media kit
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