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Everything You Need to Know to Be a Successful and Competitive Automotive Dealer in Virginia.

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A Truth-In-Lending Act Primer

December 23, 2013

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 the Act, it still completely revamps federal regulation of the country’s financial system. As the Act’s provisions go into effect, dealers will regularly learn of the

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11 for ’11

December 23, 2013

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 be even better as sales increase, but you should give attention to holding on to what you earn by protecting against losses. Here is a list

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What the government doesn’t know…

December 23, 2013

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 makes assumptions about your dealership and the people that work for it. As we would expect from government folks with little or no business experience, these

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The “Curse of the Cat People” and other Franchisor Folderol

December 23, 2013

Has your dealership ever had the curse of the cat people put on it by your franchisor? You have if you have ever made this phone call to your lawyer or to VADA: “Help! The manufacturer has only given me a one year term franchise agreement. What have I done to deserve this? I can’t let them put me

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Developing a Social Media Policy

December 23, 2013

As little as five years ago, you may have snorted at the suggestion that social media would be important for your business. “Facespace…bah! What moron spends his days on that nonsense?” Today, many of your employees regularly use social media during work hours, probably at your urging. With the benefits of social media come pitfalls. As the law

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US Dept. of Labor Changes Position on Service Advisors?

December 23, 2013

Over the next few weeks, you will probably see stories in industry publications that the U.S. Department of Labor has reversed its position and that service writers are no longer exempt from overtime requirements. More importantly, your service advisors may see the coverage. Here is the real story and what you can do about it.  In 1978, the

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Information Safeguards Sometimes Overlooked

December 23, 2013

Your salespeople probably listen regularly to your customers’ concerns about protection of their private information. You’ve put in place safeguards to protect that information as required by federal law, and you notify customers of your policy through a privacy notice. You’ve locked file rooms, locked F&I offices, and put in any number of physical and electronic protections

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Class Actions: What They are and What you Should Do About Them

December 23, 2013

All dealers watch for trends in the auto business. From time to time you are sure to hear about the fearsome threat of class actions. Unless you have been involved as a defendant in a class action, it is hard to really assess the danger. Make no mistake, a class action can be very dangerous. But there are things

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Abandonded Vehicle Law Changes for 2011

December 23, 2013

An adjustment in Virginia’s abandoned motor vehicle law, recently signed by Governor McDonnell, means changes for automobile dealers who operate repair shops, self-storage facilities or tow-truck businesses. These businesses may no longer use DMV’s online abandoned motor vehicle process to remove, auction, re-title or demolish a vehicle that is not retrieved by the owner. Towing

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