Blog - Selling Cars Out of State
What goes in the deal jacket? What goes to the state?
When a customer who lives out of state (or is moving) buys a vehicle from you, there are a few things about the transaction that work differently than if the customer lived in Texas. In our
latest blog post, we describe what things to keep in mind as you process the sale.
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CFPB Issues Rule to Limit Use of Class-Action Waivers
The Consumer Financial Protection Bureau (CFPB) has issued its anticipated final rule limiting the use of
class-action waivers in arbitration agreements in certain consumer financial transactions. In a 775-page statement, the CFPB set forth the rule and its reasons for doing so. In
this blog post, TIADA General Counsel Michael W. Dunagan examines the ruling and some of the history of dealers using arbitration agreements. In the coming weeks, we will continue to update members on developments regarding this story and how it might affect dealers in Texas.
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Help Support Your Association - You Could Win $10,000!
How would you like to win $10,000? TIADA's
Special Membership Drawing, sponsored by
CP Insurance Associates, is the associations only fundraiser of the year. For just $100 each, you can support your association and have a chance to win some big money! The more tickets you buy, the better your chance of winning.
Simply purchase your
tickets online
. Buy your tickets today!
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Check Out Who Will Be at the Largest Expo Texas!
There are over 100 vendors who will be a part of the
Expo Hall at the
TIADA Annual Conference & Expo later this month. The largest dealer expo in the state of Texas has something for everyone. Whether you are a Buy Here Pere Here or a Retail dealer, you will be able to find products and services to help your dealership grow. Check out the
list of exhibitors and plan your visit!
Not registered for the conference? Don't have time to attend all three days? Well the
One Day Dealer Pass may be for you. Attend and check out the products and services in our Expo Hall and then stick around to hear from some of the brightest minds in the industry in our breakout sessions. For only $300 ($400 for non-member dealers) you can choose either a Monday or Tuesday pass.
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Takata Adds New Type of Inflator to Huge Air Bag Recall
Takata is adding a new type of air bag inflator to the nation's largest automotive recall. The company filed documents with the U.S. government adding 2.7 million vehicles to the recall from Ford, Nissan and Mazda, all with a type of inflator that previously was thought to be safe. The affected vehicles are from the 2005 through 2012 model years.
READ MORE >
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Hot Wheels: The Most Stolen New And Used Cars
Better make sure your car insurance is paid up, and consider buying that car alarm if you own a 1997 Honda Accord, as it was the most stolen car in America last year, according to the annual "Hot Wheels" list compiled by the National Insurance Crime Bureau (NICB) in Des Plaines, Illinois. Many of the most purloined rides are older models, mainly family sedans and pickup trucks, that had yet to include so-called "smart key" technology that prevents a car's engine from starting unless it recognizes a computer chip embedded within a key or a keyless-start key fob.
READ MORE >
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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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Let's Make a Deal: Automakers, U.S. Auctions Align to Prop Up Used Car Prices
Two lanes apart at a noisy, fast-paced auto auction near Detroit, two vehicles show why major U.S. automakers have a problem with used cars. In one lane of the Manheim auction facility, a black 2015 Chevy Malibu sedan with barely 20,000 miles on it sold for just over $13,000, less than half its original sticker price. In the other lane, a white 2013 Chevy Silverado pick-up truck sold for $11,500 - despite having 200,000 miles on the odometer. America's renewed lust for new SUVs and trucks instead of smaller cars is already hurting major auto companies, which posted their fourth consecutive month of declining new vehicle sales.
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Reminder: TxDMV eTAG and webDEALER Systems Down 7/21 - 7/24
Earlier this month the Texas Department of Motor Vehicles (TxDMV) notified eTAG users, including webDEALER users listed in eTAG of upcoming security changes. Users will now be required to have a unique email address. Email addresses must be updated prior to July 21, 2017.
As part of this update, the eTAG and webDEALER systems will be unavailable beginning July 21, at 11:00 p.m. and lasting until July 24 at 8:00 a.m. Dealers are encouraged to ensure that they have printed their full allotment of internet down tags for use during this time.
Any dealer with questions or concerns regarding the change can contact the TxDMV IT Service Desk at 512.465.4010 or 877.933.2020 or by email at
[email protected]
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Daimler Accused of Selling over 1 Million Cars with Excess Emissions, Report Says
Daimler AG has been accused of selling over a million cars with excessive emissions in Europe and the U.S., Sueddeutsche Zeitung newspaper said on Wednesday, citing a search warrant issued by a Stuttgart court. Two months ago Stuttgart prosecutors searched Daimler sites in Germany following allegations of false advertising and the possible wrongful manipulation of exhaust gas treatment systems in diesel cars.
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Wells Fargo Reduces Exposure to Auto Loan Portfolio
Wells Fargo & Company is cutting back its auto lending business. The company is taking this step as a prolonged low interest rate environment has taken toll on the U.S. auto market, per an article by Reuters. The company's quarterly originations of auto loans have fallen about 30% in the nine-month period ending Mar 2017. Further, subprime loans in the auto portfolio declined 3% year over year in first-quarter 2017.
READ MORE >
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