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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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2014 IADA OFFICERS
Chairman
Mike Mangold
Mangold Ford
Eureka
Vice Chairman
Dave Taylor
Taylor Chrysler Dodge & Jeep, Inc.
Bourbonnais
Treasurer
Sam Roberts
Roberts Motors, Inc.
Alton
Secretary
Jack Schmitt
Jack Schmitt Chevrolet
O'Fallon
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
July 31st
David Summers
How to Make Parts eCommerce Work for Your Dealership... It's more than just eBay! (12 PM CST)
Click here to register!
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July 29th
Peter Nyvall
HRM Weekly - How to Use the CIS Tab (12 PM CST)
Click here to register!
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July 25, 2014 Vol 2013, Issue 38
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NADA'S CHAIRMAN'S MESSAGE: AUTO CREDIT MUST REMAIN AFFORDABLE AND ACCESSIBLE FOR CAR BUYERS
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Franchised new-car dealers do much more than sell cars. We provide service for the long term. And we offer our customers competitive financing options.
Dealer-assisted financing provides great value and competitive advantages, which saves our customers billions of dollars each year. And the proof is in the numbers. Despite the fact that dealer-assisted financing is always optional, a large majority of consumers still choose to finance their vehicles through dealers.
But in March 2013-without prior notice or public comment-the Consumer Financial Protection Bureau (CFPB) issued guidance that could eliminate the flexibility that dealers have to negotiate lower auto financing rates for the benefit of consumers. Instead, the CFPB is pressuring auto finance sources to compensate dealers with a flat fee, which would weaken the ability of car buyers to secure discounted financing.
Most troubling is that the CFPB has even admitted that it has not studied how this change would impact consumers.
Members of Congress have taken notice. Rep. Marlin Stutzman, R-Ind., introduced H.R. 4811, "The Bureau Guidance Transparency Act," which passed the House Financial Services Committee on a bipartisan vote on June 11, thanks to strong grassroots support from NADA and other industry trade groups.
The bill would require the CFPB to be more transparent by requiring prior public notice for other future guidance. The bill would also rescind the CFPB's auto finance guidance issued in March 2013 that threatens to eliminate a dealer's ability to offer interest rate discounts in the showroom.
To help address the fair credit risk to consumers, dealers and finance sources, NADA released its Fair Credit Compliance Policy & Program last January. This optional program provides a dealership which adopts it with a viable means of managing its fair credit risk, while still allowing for pricing flexibility.
Chris Stinebert, the president and CEO of the American Financial Services Association, issued a statement on July 9 that strongly supported NADA's program, calling it "a legitimate tool that helps provide lenders with evidence that there are legitimate non-discriminatory reasons for pricing differences."
NADA is working to protect dealers-and our customers-by making sure auto loans remain affordable and accessible while still addressing fair credit risks. For more information, visit www.nada.org/cfpb.
Forrest McConnell, III
NADA chairman
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CAR OF ILLINOIS THANKS YOU OUR ILLINOIS DEALERS
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IADA appreciates the many dealers of Illinois who have donated to the CAR of Illinois fund. CAR of Illinois is IADA's state political action committee dedicated to helping elect responsible state officers and members of the Illinois General Assembly who are open minded to the concerns and problems facing the automobile and truck dealer today. If you have not yet had the opportunity to contribute please consider donating today by clicking here. |
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LEGAL UPDATE: MONTHLY WAGE REPORTING
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The Illinois Department of Employment Security now requires all employers with 25 or more employees to electronically submit monthly wage reports. The monthly wage reports are in addition to the quarterly wage reports and are due on the last day of the following month. Additional information about monthly wage reporting can be found on the Illinois Department of Employment Security website, CLICK HERE. If you have any questions about monthly wage reporting, please feel free to contact IADA at (217) 753-0220 or ldoll@illinoisdealers.com. |
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REMINDER: BE SURE TO REPROGRAM WHEN YOU RELOCATE
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The Department of Revenue has asked IADA to remind our CVR users that if you relocate your dealership, you must be sure to reprogram the computers that you process CVR work on to show your new taxable location so that sales tax is properly collected and reported. If the local tax rate at your new location is different from the old location, the tax rate must be reprogrammed so that you do not over-collect or under-collect sales tax. Even if your tax rate does not change, you still must reprogram to make sure that the local portion of the sales tax is allocated to the correct municipality and county.
If you need assistance with reprogramming your computer systems, you may contact CVR customer assistance at (800) 333-6995.
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LEGAL UPDATE: PRE-EMPLOYMENT CRIMINAL HISTORY INQUIRIES LIMITED BEGINNING JANUARY 1ST
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Beginning January 1, 2015, any employer with over 15 employees will be prohibited from inquiring about a job applicant's criminal record or criminal history until after the prospective employee has been determined qualified for the position and notified that he or she has been selected for an interview or, if there is no interview, until after a conditional offer of employment has been extended to the prospective employee. The prohibition against inquiring about an applicant's criminal history or criminal record does not apply to any position for which federal or state law requires employers to exclude applicants with criminal records nor does it apply to any position for which a fidelity bond or similar bond is required and a conviction for a criminal offense would disqualify the applicant from obtaining the bond. The prohibition against inquiring about applicants' criminal records or criminal histories does not prevent employers from providing applicants with a written notice of the offenses that will disqualify the applicant from employment. Penalties for a violation range from a warning to a first offense up to $1,500 per violation.
If you have any questions about the prohibition against criminal record and criminal history inquiries, please contact IADA at (217) 753-0220 or at ldoll@illinoisdealers.com. |
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NADA SAN FRANCISCO CONVENTION REGISTRATION OPENS
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Online registration for the 2015 NADA Convention & Expo in San Francisco is now open, and dealers and their managers are encouraged to make their hotel reservations as soon as possible because rooms will fill up quickly. Early bird registration ends Sept. 12, which includes a $100 discount from the onsite rate.
The NADA convention runs Thursday, Jan. 22, to Sunday, Jan. 25, at the Moscone Center. The keynote speakers are former Florida Governor Jeb Bush and NADA Chairman Forrest McConnell, III, on Friday, Jan. 23; Jay Leno and NADA Vice Chairman Bill Fox on Saturday, Jan. 24; and inspirational speaker Beck Weathers on Sunday, Jan. 25. Click here for the speaker bios.
Considered the "Automotive Industry Event of the Year," the NADA convention includes dealer-manufacturer franchise meetings, hundreds of educational workshops for dealers and their managers, several hundred companies exhibiting on the expo floor and numerous networking events. For more information or to register, visit www.nadaconvention.org.
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IS YOUR DEALERSHIP TAKING ADVANTAGE OF THE SUMMERTIME SAVINGS OFFERS FROM UP PAYMENT SOLUTIONS?
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In case you did not know, IADA has teamed up with UP Payments to provide UP-Graded payment solutions specific to auto dealers. Not only do they provide added security, technology and functionality, but they also provide unmatched pricing. You will never be overcharged or under serviced again! UP Payments has been working specifically with auto dealers for 15 years and as a recommended provider of IADA, they are offering the dealers of Illinois an opportunity UPGRADE with no-enrollment fees and free equipment (while supplies last).
UP Payments provides solutions for credit card processing, mobile payments / eCommerce, check guarantee / ACH, point-of-sale software & hardware, security / PCI Compliance, technology solutions and full account management.
Allow UP Payments to be your long-term and trusted payments provider. Don't miss out, contact Julie Douglas today, jdouglas@uppayments.com or 636-442-4901, for a NO-Obligation cost/service analysis.
UP Payment Solutions is an IADA Recommended Provider
Visit, www.uppayments.com for more information
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FEDERATED INSURANCE'S "CLAIM OF THE MONTH" - COULD IT HAPPEN TO YOU?
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Federated Insurance's "Claim of the Month" - Could it happen to you?
A dealership gave a loaner vehicle to a customer while the customer's personal vehicle was being serviced. While driving three friends home from a party, the customer rolled the vehicle. Two passengers died; a third was injured. The deceased passengers' estates and the injured passenger made valid injury claims against the dealership, because the driver was a permissive user of the loaner vehicle. A loaner agreement was signed, but insurance was not checked. The customer had no insurance.
CLAIM AMOUNT: $4.25 million
What policies are in place to help prevent this from happening at your dealership? Do you know who's driving your vehicles? Federated recommends several best practices to help protect your business and manage risks; for example,
• Obtain copies of the customer's valid driver's license and proof of insurance.
• Require the customer to provide proof of liability and physical damage coverage.
• Examine license and insurance to verify the information matches and neither has expired.
These are just a few loss control recommendations you can use to help protect your dealership. To learn more, contact your local Federated Mutual Insurance Company representative and request a copy of our "Keys to Success" risk management brochure. Federated is recommended by 17 state and national auto dealer associations just like yours for customized insurance programs and value-added risk management services, such as Federated's Shield NetworkSM, the Risk Management Resource Center, and the Federated Employment Practices NetworkSM. To discover how Federated can help you create or ramp up your own risk management program, or to find your local representative, click here.
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