BHPH Compliance: A Comprehensive Workshop
Presented by Michael W. Dunagan
TIADA General Counsel
Monday, September 18
Fort Worth
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. Presented in partnership with FWIADA.
Topics will include:
- Your right to insurance proceeds
- Using courts to get your car back
- Properly handling financing on repairs
- How to prepare for (and survive) an OCCC audit
REGISTER NOW >
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| Thank You, South Texas, from Manheim Houston, Texas Hobby and South Houston |
With Harvey in our rear view mirrors--it's time to get back to business. Thank you dealers, clients and partners for your support during the storm.
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NAAA Amends Flood Policy Disclosures
Special thanks to John Swoffard, Vice President of America's Auto Auction for providing the following information:
The National Auto Auction Association Standards Committee recently made an adjustment to the NAAA Arbitration Policy. Previously, a Flood Damage disclosure (from sellers to buyers) was only required for vehicles selling under the following sale light combinations:
- Green light only
- Green/Yellow light
- Yellow light only
For vehicles sold under the Red light a disclosure was NOT required.
Effective September 5, 2017 until further notice, sellers will now be responsible for any/all flood damage disclosures to buyers when selling regardless of sale light, including the Red light.
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Are Disclosure Agreements Necessary for GPS Tracking Devices?
GPS tracking devices are a powerful tool that can help dealers locate their vehicle quickly and easily. Recently, we received a question from a dealer through our
Compliance and Consultation Service asking whether or not customers needed to include disclosure agreements when using these devices. In
the blog post, TIADA General Counsel Michael W. Dunagan explains the reasons why a dealer should be using a disclosure agreement.
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We're Rolling
ADESA Mobile Auctions travel to your location with the manpower and technology needed to facilitate a sale, including ADESA LiveBlock - a live steaming platform. We maximize your exposure to interested buyers.
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Mobile Auctions - Bringing the Vehicles to You
Dealers realize having the right vehicles on their lots is crucial to their success. They will often travel to auctions in other cities to ensure they have the inventory that their customers want. However, that is not the only way to find the right vehicles. Mobile auctions bring the vehicles to the dealer, allowing them to stay closer to home when replenishing their inventory. In our latest blog post, we spoke with representatives from Manheim and ADESA to learn more about their mobile auction programs and how they might help dealers obtain vehicles without having to leave their hometowns.
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Equifax Hack Renews Battle over the Consumer Financial Protection Bureau
In the wake of the Equifax breach, businesses, lawmakers and individuals are grappling with the issue of protecting personal information - and for Congress, that could mean increased regulation and oversight.
READ MORE >
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Auto-Loan Balances Hit Record $1.1 Trillion
Outstanding automotive loan balances in the U.S. set another record in this year's second quarter, reaching $1.1 trillion, up from $1.027 trillion at the same time last year, according to credit tracker Experian. Credit unions saw the highest rate of growth. That lending segment has actively pursued more auto-loan business in recent years, and the effort is paying off.
READ MORE >
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Millennial Motoring -- Younger Drivers Expect Cars to Stay in Demand for Years to Come
The generation that grew up with the Internet, laptops and smart phones and glimpsed the abrupt demise of pagers, faxes and adding machines may have a soft spot for the 130-year-old automobile's fate. A new poll indicates that millennials, those born between the early 1980s and turn of the 21st century, see the motor vehicle as an essential mode of transportation for at least another generation.
READ MORE >
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'Sticker Shock' for Harvey Victims: Used-Car Prices at Record High
Used-car prices hit a record high in the second quarter, creating a hurdle for victims of Hurricane Harvey who need a replacement vehicle. Early estimates indicate that Harvey flooded as many as 500,000 vehicles in driveways, garages and dealership lots. Automakers including General Motors and Ford plan to ship used vehicles into the Houston area to help dealers replenish their inventories. Car owners in southeast Texas will be shopping for replacements at a time when used vehicles are commanding strong prices, potentially leaving storm victims and other consumers with sticker shock, according to a new analysis from Edmunds.
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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.
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Edmunds Notices Down Payments Keep Rising for Used and New Financing
While many of the August auto finance metrics Edmunds compiled and shared remained stable on a year-over-year basis, analysts did spot one rise that should be pleasing to finance companies. Edmunds noticed increases in down payments in August for both new- and used-vehicle transactions, compared to the same month last year. For new models, the average down payment climbed by 5.9 percent to land at $3,667.
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House Passes Bill That Exempts Self-Driving Cars from Safety Rules
The House easily passed legislation Wednesday that gives federal regulators final say over performance standards for self-driving vehicles and could allow for as many as 100,000 such vehicles a year to be exempted from safety standards while the technology is developing. The legislation, which cleared the House on a unanimous voice vote and now goes to the Senate for consideration, represents Congress' first substantial foray into what has become a thicket of competing state rules across the nation regarding the regulation of autonomous or self-driving cars.
READ MORE >
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