The year 2010 saw the acceleration of a disturbing trend in employment law for dealers and employers. The increase in lawsuits challenging employers on wage and hour law compliance continued. The U.S.
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Risk Based Pricing Rule Compliance Program
By January 1, 2011, a dealer must have in place a program for compliance with the FTC’s Risk Based Pricing Rule. The Rule was adopted based on a provision in the
Inventory Management Best Practices
Every dealership should have an organized plan for ordering and managing vehicle inventory. This includes ordering, receiving units, delayed billing, and relieving units from floor plan accounts. In this article we
Dealer Certified Pre-Owened Cars
A leading industry publication recently published an article lauding the success of “certified pre-owned” programs of some large dealer groups. While some dealers may have great success with CPO programs, there
Lisence Plate Frames
This is a reminder that Virginia law states that all information must be clearly visible on mounted license plates. License plate frames, such as those with dealership information, cannot obscure or
A Truth-In-Lending Act Primer
During 2011, you will be hearing a lot about the Dodd-Frank Act. Even though dealers are exempt from the direct jurisdiction of the Consumer Financial Protection Bureau that is created by
11 for ’11
We all hope that 2011 will be a year of solid recovery. Many dealers saw the 2009 expense cuts kick in fully in 2010, leading to a better profit year. 2011 can
What the government doesn’t know…
The last five years have seen an onslaught of federal laws and regulations affecting your business. The trend does not appear to be slowing. In prescribing these laws and regulations, the government
Promissory Notes: Will Your Form Get You in Trouble?
Many dealers use promissory notes to obligate a customer upon delivery of the vehicle when the customer wishes to return with his or her own funds or with the proceeds