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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
November 20th
Chuck Hartle
Getting All Auto Group Parts Mgrs of All OEMs on a Common Reporting System...It's Not Rocket Science (12 PM CST)
Click here to register!
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December 4th
Peter Zaidel
Department of Transportation (DOT) Hazardous Material Shipping Compliance for Dealerships:
How to Best Avoid DOT and FAA Fines (12 PM CST)
Click here to register!
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November 19, 2014 Vol 2013, Issue 44
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DEAC UPDATE - NEW ILLINOIS PRESIDENT CLUB MEMBERS
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IADA is proud to welcome eight new President Club Members:
Kathy Federico, Jack Schmitt Chevrolet, O'Fallon
Danielle Federico, Federico Chrysler Dodge Jeep, Wood River
Gary Knight, Carmack Car Capitol, Danville
Bob Brady, Bob Brady Auto Mall, Decatur
Bob Ridings, Bob Ridings Ford, Taylorville
Jill Green, Green Family Stores, Moline
Mike Miller, O'Brien Auto Group, Peoria
Dave Taylor, Taylor Chrysler-Dodge-Jeep, Bourbonnais
A President Club Member is someone who contributes $5,000 to DEAC for the first year of membership and $2,500 for annual renewals.
DEAC is the political action committee of America's franchised new car and truck dealers. DEAC works to elect individuals who understand the needs of dealers. DEAC's purpose is to ensure that the voice of the retail automotive and truck industry is heard and represented on Capitol Hill.
With a signed permission form, attached here, DEAC can accept contributions from individuals at both non-corporate and incorporated NADA member dealerships. If your dealership is non-corporate, DEAC can accept donations from the owner(s) and the pricipal owner(s). If your dealership is incorporated, DEAC can accept donations from the owner(s), family and dealership management.
If you have any questions regarding DEAC, please contact the IADA offices, (217) 753-0220.
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LEGAL REMINDER: LEASE TAX CHANGES COMING JANUARY 1st
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Beginning January 1, 2015, the sales tax base for most motor vehicle leases will be reduced from the selling price of the leased vehicle to the sum of the vehicle lease payments. Leases that are taxed on the reduced base will not be eligible for advance trade-in credits or third-party trade-in credits beginning January 1st. IADA recommends that you make sure to use up your lease tax credits by the end of the year and reminds you that you may apply multiple advance trade-in credits to a single transaction (but you cannot use advance trade-in credits in the same transaction with third party trade-in credits).
To qualify for the reduced tax base, a lease must be for a fixed term of over one year and must be for a qualifying vehicle. The tax treatment of any lease that is not for a fixed term, such as a 367-day lease with a month-to-month lease after the initial 367-day period will not be affected. Qualifying vehicles are defined as all first division vehicles and second division vehicles that are (1) self-contained motor vehicles defined or permanently converted to provide living quarters for recreational, camping, or travel use, with direct walk-through access to the living quarters from the driver's seat; (2) motor vehicles of the van configuration designed to transport not less than 7 and not more than 16 passengers; and (3) motor vehicles having a gross vehicle weight rating (GVWR) of 8,000 pounds or less. The tax treatment of non-qualifying vehicles will not change.
For more information about the upcoming lease tax changes, please see the attached flyer to sign up for one of IADA's upcoming lease tax seminars.
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THE DYNAMICS OF RECALLS HAVE CHANGED: WHAT DEALERS NEED TO KNOW
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Tens of millions of motor vehicles become subject to new federal safety recalls each year. The number of safety recalls has risen exponentially since late 2013, along with the number of vehicles covered by those recalls. Why? Among other reasons, vehicle manufacturers are gathering more information sooner which, when analyzed, can lead to safety defect or noncompliance determinations. Importantly, dealers play a critical role in seeing that as many recalled vehicles as possible are remedied consistent with OEM instructions.
The attached Q/A sheet is designed to respond to several questions dealers are asking on how best to handle recalls impacting new and used inventory and service vehicles. It also highlights the fact that later this month, the National Highway Traffic Safety Administration will roll out a VIN-searchable safety recall data base on www.safercar.gov. NHTSA indicates that it will soon issue details on the capability and functionality of this new data base, which is mandated by the Moving Ahead for Progress in the 21st Century Act, the transportation bill enacted in July 2012. Once available, these details will be provided to NADA members and to ATAEs for their own use and to assist members of the public interested in researching a motor vehicle's recall status.
Questions concerning federal safety recalls or the new VIN-searchable data base may be directed to NADA Regulatory Affairs at regulatoryaffairs@nada.org or 703.821.7040.
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UP PAYMENT SOLUTIONS: MESSAGE TO DEALERS
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MESSAGE TO DEALERS:
Do not be fooled by the sales calls, specifically about them HAVING TO SWITCH THEIR HARDWARE for the new cards with a chip? This requirement, EMV is not yet a mandate, however sales people in the payments industry from far and wide are scaring merchants in to thinking they must act now or they are exposed or cannot accept payments. This new way to accept payments, along with other solutions, such as NFC (ApplePay), will be released summer/fall of 2015. UP Payments will have a plan to execute a hardware update in the next few months, but only when and if this requirement is absolutely required. We are not going to make the dealers spend more money until this is necessary. More information is available in UP Payment Solutions Fall newsletter.
The Holidays Are Coming!
It is this time every year that we ask our customers to be PROACTIVE when accepting checks for payment. Whether you use a "guarantee" solution or not, you must be on the lookout for fraud.
Most of the time, fraud is not easy to detect or even prevent. However, if you make sure to do the following, you will be much better protected:
• Verify identification (make sure the person writing the check matches the driver's license)
• Do NOT accept temporary or starter checks
• Make sure there is a valid phone number on the check
• Make sure they write out the check in front of you instead of presenting a pre-filled check
Lastly, the best way to prevent fraud is to acquire a check guarantee service. UP Payments has been providing these services for 15 years and can recommend the best solution for your needs. |
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FEDERATED INSURANCE: AUTO DEALER CLAIM OF THE MONTH
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Auto Dealer Claim of the Month -
Federated Insurance's "Claim of the Month" - Could it happen to you?
A dealership gave a loaner vehicle to a good, repeat customer. The customer's texting while driving the loaner caused a rear-end collision with a motorcycle that had stopped for traffic. The motorcycle rider suffered a broken pelvis and broken legs. A loaner agreement had not been signed. The customer did not have a valid driver's license.
CLAIM AMOUNT: $675,000
What policies are in place to help prevent this from happening at your dealership? Do you know who's driving your vehicles? Federated Insurance recommends several best practices to help protect your business and manage risks; for example,
- Prohibit loaners to customers. Instead, arrange for customers to rent vehicles from an independent rental company.
- If you do provide loaners, require each customer to sign a loaner agreement and provide a valid driver's license.
- Have your loaner agreement include terms that hold the customer contractually responsible for any damage to the loaner or third party vehicle or any accident or injury.
These are just a few loss control recommendations you can use to help protect your dealership. To learn more, contact your local Federated Insurance representative and request a copy of our Auto Dealer "Keys to Success" risk management packet. Federated Insurance is recommended by 18 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. Visit www.federatedinsurance.com to discover resources you can use to create or ramp up your own risk management program, or to contact your local representative. |
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