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Visit Our Website
www.IllinoisDealers.com
Join our mailing list!
Do you know of other member dealership employees who should be receiving the IADA Electronic Bulletins? Let us know! Send an email to Meghan Sander (msander@illinoisdealers.com), Director of Communication, with the contact information of people who should be on our distribution list.
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2013 IADA OFFICERS
Chairman
Gary Knight
Carmack Car Capitol
Danville
Vice Chairman
Mike Mangold
Mangold Ford
Eureka
Treasurer
Dave Taylor
Taylor Chrysler Dodge & Jeep, Inc.
Bourbonnais
Secretary
Sam Roberts
Roberts Motors, Inc.
Alton
President
Peter Sander
IADA
Springfield
IADA Staff Contacts:
Ph# 1-800-252-8944
Pete Sander
President
Ext. 103
psander@illinoisdealers.com
Larry Doll
Legal
Ext. 105
ldoll@illinoisdealers.com
Mark Harting
Administrative Services
Ext. 110
mharting@illinoisdealers.com
Mike Healey
Member Services
Ext. 107
mhealey@illinoisdealers.com
Joe McMahon
Legislative
Ext. 113
jmcmahon@illinoisdealers.com
Meghan Sander
Member Communications
Ext. 109
msander@illinoisdealers.com
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Your
IADA
Partner
Moving Vehicle Registration Into The Future
(click logo for more details)
Upcoming Webinars
Novemer 21st
Greg Criss
BluePrinting the Body Shop… A Process for Improving Efficiency & Profits (12 PM CST)
Click here to register!
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November 20th
Erika Simms
Crisis Management for Social Media
Click here to register!
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November 15, 2013 Vol 2013, Issue 22
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CFPB TELLS AUTO LENDERS FLAT FEES ARE JUST ONE OPTION
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Flat fees aren’t the only way auto lenders can pay dealers for arranging car loans without a risk of racial bias, top officials at the Consumer Financial Protection Bureau said yesterday. Most banks and captive finance companies now pay dealers a slice of the interest rate known as the dealer reserve, reports Automotive News. It is usually capped at around 2 percentage points, but dealers can negotiate, which the CFPB sees as an opening for racial bias. In the March bulletin, the agency said lenders could avoid bias by paying its dealers with flat. But there are other options, the agency said yesterday in an effort to clarify the bulletin. “We cited flat fees only as an example,” Patrice Ficklin, the fair-lending director at the CFPB, said during the forum. “In fact, the bureau believes that there could be a variety of alternatives.” One alternative would be paying dealers a set percentage of the amount financed on a car loan, said Eric Reusch, the bureau’s program manager for auto and student loans. Another would be a “hybrid” system that takes into account factors such as the amount financed and the duration of a contract. For more on potential changes to auto lending rates, click here.
Source: Automotive News
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IADA'S NEW WEBSITE LIVE!
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IADA is proud to announce the release of our newly redesigned website. By updating our main site, www.illinoisdealers.com, with a new look and feel, we've been able to improve navigation and provide more resources for our members. With an eliminated login, we hope to create more usage among our members, and strive to make our interatction with our organization even better. We've updated and added some important new features:
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Eliminated login for quicker navigation
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Easier navigation with more organized tabs and drop downs at the top (and bottom of the site)
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Detailed map of IADA Officers and Directors by districts
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Column dedicated to the latest legislation updates, events, and announcements
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Live breaking Auto News
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Easy ways for you to contact us with questions or feedback so we can continue to keep the site up-to-date and resourceful
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DEALERSHIP WORKFORCE STUDY REPORTS ARE AVAILABLE
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NADA is happy to announce that the 2013 Dealership Workforce Study reports are available at nadauniversity.com!
Dealers who participated in the Study receive two complimentary Reports:
• The Basic Report, a custom report comparing the individual dealership’s data—compensation, benefits, retention and turnover, and more—to the national and regional industry
• The 2013 Dealership Workforce Study Industry Report, which provides national and regional compensation, benefits, retention, and turnover statistics for 60 car and truck dealership job positions plus cogent analysis of workforce trends, including demographic issues
Other products available for purchase by participants only include:
• The Enhanced Report, which provides a deep, localized comparative assessment of the individual dealership’s compensation and benefits packages, retention and turnover, work schedules and hours of operation against franchise and state averages.
• Enhanced Report/Compensation and Tenure Search Tool Bundle, a package that includes the Enhanced Report and the new Search Tool, which is a dynamic online resource that allows users to search the entire Dealership Workforce Study database—representing 680,000 payroll records from nearly 5,000 dealerships—to find answers to specific questions. Search data from both 2013 and 2012 by brand, sales volume, geographic location, department, and job title. Participants receive this bundle at a special price.
Non-participants may also purchase the Compensation and Tenure Search Tool and the Industry Report.
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SAVE THE DATE - UPCOMING EVENTS!
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The NADA Convention and Expo will be held January 24th - 27th in New Orleans. Dealer Registration and Housing is now available! Click here to register.
The IADA/CATA Annual Spring Conference will be held March 30, 2014 - April 3, 2014 at the Atlantis in the Bahamas. Register today! A U.S. Passport is required for travel in the Bahamas. Click here for information on acquiring or renewing your passport. More information coming soon.
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