Time Is Running Out! Register for the TIADA Conference Today and Save $100!
After you've registered, take a look at the
complete education schedule and plan which of the over 30 hours of presentations and discussion panels you want to attend.
And be sure to check in at the
Facebook Event Page for all the latest buzz and most recent announcements.
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Blog: Selling "As Is" - What Does It Mean?
What does it mean to sell a product (be it a motor vehicle or any other object) "as is"? There has been much confusion over what exactly it means to use the "as is" term in conjunction with a sale. In our
latest blog post, TIADA General Counsel Michael W. Dunagan shares how the law defines the term and discusses some common problems dealers face when selling "as is."
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Gov. Abbott Supports TIADA Effort to Eliminate Unnecessary Government Regulation, Signs HB 2949 into Law
Last week Governor Greg Abbott concluded the 85
th Legislative Session by vetoing 50 bills, the highest number of vetoes since 2007. Escaping the wrath of Abbott's veto pen was TIADA-supported House Bill 2949. Abbott
signed this bill into law signaling his support of TIADA's efforts to eliminate unnecessary government regulation that can negatively affect dealers and their businesses. The law, originally filed by Rep. Justin Holland (Rockwall - R) eliminates the need for dealers to notify the Office of Consumer Credit Commissioner (OCCC) when they increase their doc fee above $50 but below the safe harbor amount set by the Finance Commission.
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TIADA's Robert Blankenship Named National Quality Dealer of the Year
Last week during NIADA's annual conference in Las Vegas, TIADA member Robert Blankeship of Texas Auto Center was named National Quality Dealer of the Year! Robert was eligible for this honor after being named Quality Dealer of the Year at last year's
TIADA Annual Conference & Expo. Congratulations to Robert and everyone else at Texas Auto Center!
Several other TIADA members were also honored for their recruitment efforts. Wayne Meagher of MD Auto Sales won his unprecedented FOURTH STRAIGHT Crystal Eagle, given to dealers who recruit 100 new members in a two-year period. Additionally, Ahmed Belmeshkan of New Rio Grande Motors won his second Crystal Eagle. Congratulations, and thanks for all your work promoting TIADA!
Robert, with his wife, Erika, and daughter, Haley, accepts his award.
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A Sneak Peek at the 2017 TIADA Member Dealer Survey
Over the last month, TIADA sent surveys to over 900 dealer members. While the results are not final, we are seeing some interesting answers compared to our last survey (2014). One of the more dramatic early results has to do with the number of vehicles dealers are holding in inventory. TIADA Executive Director Jeff Martin examines this trend and details what other information we expect to learn in
this preview of the survey. The first copy of the survey will be distributed at our annual conference next month. It always makes for good hallway conversation, and it's a special treat for our attendees. You will want to make sure and
register today.
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Subprime Becomes Too Rich for Some Lenders' Blood
Auto-loan delinquencies are up, mainly because of the usual suspects: subprime borrowers behind on their bills, according to credit tracker TransUnion. And although some lenders are pulling away from the subprime and non-prime segments, it's not a mass exodus. Lenders who specialize in that segment welcome the thinning out of the competition.
READ MORE >
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297,000 Dodge Grand Caravans Face Recall for Spontaneous Airbag Deployments
Dodge parent company Fiat Chrysler Automobiles is recalling a total of 297,000 Dodge Grand Caravan minivans from the 2011-12 model years for a potential driver side airbag problem that can result in inadvertent airbag deployments. The issue is said to be linked to wiring that can get worn over time and short circuit, unexpectedly triggering the driver side airbags. This recall isn't related to the Takata airbag recall; the Caravan recall concerns wiring problems in older vehicles rather than propellant tablet degradation.
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Millennials Are Buying Everything Online - Except Cars
That new car smell is a powerful draw. As many industries struggle to adapt to millennials' preference for buying experiences and shopping online, one group of retailers seems to have been spared, at least so far: car dealerships.
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Fed Raises Rates While Watching Subprime Auto Financing
As was widely anticipated, members of the Federal Open Market Committee at the Federal Reserve chose to raise the target range for the federal funds rate from 1 percent to 1.25 percent on Wednesday. While the vote to raise the rate was nearly unanimous, one FOMC member earlier raised concerns about the economic trends that often influence the committee's decisions - and how subprime auto financing might play a role.
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Can Carvana Keep Going After Last Week's 45% Pop?
It's not easy to be the New York Stock Exchange's biggest gainer, and it's even harder to achieve that feat in back-to-back weeks. Carvana (NYSE:CVNA) did just that, soaring 45.2% last week and topping the performance of all of its peers on the iconic trading exchange. That's after the online used-car reseller led the way a week earlier with a 39.6% gain. Carvana stock has now more than doubled over the past two weeks, skyrocketing 102.6% along the way.
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