TIADA UPDATE
TIADA News
Poll Results: Almost 70% of Respondents Favor Eliminating Vehicle Inspections

Last week, w e asked you whether you supported legislation that would eliminate the requirement for annual state vehicle inspection. According to the results, nearly 70% of respondents favored getting rid of the inspections. 
Additionally, we received several emails supporting both sides the issue. We would still like to hear what you think. Visit our latest blog post and share your thoughts in the comments. 

Better BHPH Financials: How to Get Organized for Growth
Presented by David Keller, CPA
CliftonLarsonAllen
 
Tuesday, April 25 - Dallas
 
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 ½ day seminar will demonstrate how better organizing your financial and operations structures can be the key to growing your portfolio.

BLOG: 7 Things I Would Change If I Bought Your Dealership Today

Zack Klempf, CEO & Founder of Selly Automotive, will be a featured presenter at the TIADA Annual Conference & Expo, July 23 - 25, 2017.  In a special guest blog post, Klempf details the seven changes he would make if he bought a dealership today. Klempf uses this list to help dealers identify weaknesses in their processes. 

Don't forget to register today and reserve your spot at our annual conference!

BHPH Compliance: A Comprehensive Workshop 
Presented by Michael W. Dunagan
TIADA General Counsel
 
Monday, May 8 - Austin
 
This revitalized seminar from TIADA General Counsel Michael W. Dunagan is the final answer in BHPH compliance. Mike speaks dealer, and with over 40 years of experience representing hundreds of BHPH dealers, he knows your business inside and out. 

New topics for 2017 will include:
  • Your right to insurance proceeds
  • Using the courts to get your car back
  • Property handling financing on repairs
  • Real-life DTPA court cases

Legislative Roundup: Named Driver Insurance Bill Takes One Step Closer to Becoming Law

On Thursday, the Texas House of Representatives passed House Bill 915 relating to named diver insurance policies 126-11. This bill would allow these policies if the following characteristics are present: (1) it is also an operator's policy; (2) any "named driver exclusion" specifically names each driver that is not covered under the policy; (3) it does not exclude an entire class of people; and (4) the named insured accepts any and all exclusions in writing. TIADA supports this legislation as it moves to be considered by the Texas Senate. 

In other legislative news, o n Monday TIADA member Chris Knox from Auto Center of Texas traveled to Austin to testify in support of HB 2949. The bill, sponsored by Representative Justin Holland (Rockwall - R), would eliminate the OCCC notification requirement for dealers who charge a doc fee less than or equal to the "Safe Harbor" amount, currently $150.

Your best source for up-to-the-minute information on these bills and other legislation is the TIADA Legislative Action Center. 

INDEPAC - Your Political Action Committee in Action

NABD National Conference - Discount for TIADA Members

The NABD National Conference is May 23 - 25, 2017 in Las Vegas. Stay at the Luxurious Wynn | Encore Resort & Casino for only $209 per night with this special offer for TIADA members. Call (888) 320-9966 and use group code "6BUY0517."

To register for the conference or for more information, visit www.bhphinfo.com or call 832-767-4759.
Industry News
Hyundai and Kia Recall 1.2m Cars for Possible Engine Failure

Hyundai and Kia are recalling nearly 1.2 million cars and SUVs because the engines can fail and stall, increasing the risk of a crash. The recall covers the Korean automakers' most popular models including 2013 and 2014 Hyundai Santa Fe Sport SUVs and Sonata midsize cars. Also covered are Kia Optima midsize cars from 2011 through 2014, Kia Sportage SUVs from 2011 through 2013 and Kia Sorento SUVs from 2012 through 2014.

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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 help@2DollarCars.com  MORE > 
The Story of March Wholesale Prices: Cars Down & Trucks Up

During his last quarterly conference call on behalf of Cox Automotive, chief economist Tom Webb on Friday covered a wide range of used-vehicle topics, including an update on the Manheim Used Vehicle Value Index. Webb explained that wholesale used vehicle prices (on a mix-, mileage- and seasonally adjusted basis) declined 0.5 percent in March, relative to February.  The dip brought the index reading to 124.1, which represented a 1.3-percent increase from a year ago. 

It's Time for Dealers to Advertise Their Service Departments

Margins are tight for new-car sales, and they're forecast to narrow for used-car vehicles as off-lease supply swells. So, where else can a dealer drive profit when variable operations are softening? Answer: fixed operations.

Product Showcase
Traditional BHPH Income Opportunities
For dealers who want to keep control of their portfolio but also increase profitability long term, they need to focus on customer longevity. A customer-centric approach will help your dealership become self-sufficient - with enough cash flow to reinvest in the dealership operations and enough efficiency to focus on attracting new customers (possibly through referral) and new revenue streams. If your vision is also to provide a valuable service to the community for people who need a car and can't get one any other way, then a customer-centric approach is certainly the right business model.
Wall Street Is Making It Harder to Buy a Car

On countless occasions in recent years, the U.S. auto industry has relied on cheap and easy credit from Wall Street to get it through rough patches. Not this time. With both bad loans and interest rates on the rise, financial institutions are becoming more selective in doling out credit for new-car purchases, adding to the pressure for automakers already up against the wall with sliding sales, swelling inventories and a used-car glut. "We've been having a party for a few years and it was fun," said Maryann Keller, an industry consultant in Stamford, Connecticut. "Now lenders are getting back to basics."

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The Honda Civic is America's Bestselling Car, Kind Of

Honda released its March 2017 sales on Tuesday, once again proudly proclaiming one of its models to be the bestselling model on a retail basis. In the past, Honda has reported that the Accord has slain king Camry. This time, the humble Civic wears the crown. The problem, though, is that the two Japanese marques disagree on exactly what it means to be king.  

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Pinpointing Dealer Role in Preventing Auto Finance Fraud

As a follow-up to its analysis that stated fraud in auto financing could reach $6 billion this year, PointPredictive released another white paper on Tuesday with suggestions on where that scheme could be nipped before it happens.  PointPredictive's new whitepaper, entitled "Improving Auto Dealer Fraud Monitoring with Pattern Recognition," highlights the critical role that dealers play in the growing auto financing fraud infrastructure and how to change the monitoring programs that often find the risky dealers only after major losses have occurred.

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