Newsletter & Article Archives

Welcome to your VADA newsletter archives! Below you will find links to many of the articles from previous editions of your newsletter. If you don’t see a specific article that you are searching for, contact us at 804.545.3024

Cyber Crimes: Why You Should Be Very Afraid

November 28, 2017

You want to balance your inventories.  You have twenty more new vehicles than you need.  Another dealer says he wants them.  You do the deal, he picks up the vehicles, and you do not get paid.  The dealer says he sent you a wire transfer for three-quarters of a million dollars, but you never received

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New Information from the FTC on the Used Car Rule

October 25, 2017

In September, the FTC issued a set of questions and answers about the revised Used Car Rule. The Q&A highlights some issues that dealers should understand. OEM Warranty Disclosure Is your franchisor insisting that you disclose the terms of the OEM warranty on the buyers guide as if it is yours?  The FTC now states

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Franchisors are Becoming More Aggressive; What About You?

October 25, 2017

New car dealers are increasingly restive about the aggressiveness of franchisors. Whether it is costly facility or image demands, increasing reliance on stair step incentives with easy disqualifiers, refusals to comply with state laws on retail reimbursement on labor and parts, frequent audits that violate state law, or chipping away dealer’s franchise rights, dealers are

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Beware Flood Damaged Vehicles

September 25, 2017

The disaster in Texas and Florida understandably consumed the news media recently.  In many shots of the devastation, one can see cars, trucks, and buses partially or fully submerged in the flood waters. Some have estimated that there may be as many as 500,000 flood damaged vehicles in the Southeast region. As the devastation is

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New GM Policy and Why it is Important for All Dealers

September 25, 2017

General Motors has ignited a furor among its dealers with two bulletins issued August 10, 2017. Bulletin 17-12 pertains to use of non-GM parts and accessories and vehicle service contracts, and Bulletin 17-13 announces a policy about incomplete or altered vehicles. GM mandates unprecedented disclosures to consumers backed with serious threats. Bulletin 17-12 advises dealers

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Arbitration Update

August 23, 2017

We have advised you that the Consumer Financial Protection Bureau has issued a final regulation that bans class action waivers in predispute arbitration agreements used by finance institutions under its jurisdiction. If the rule survives Congressional review, it will have a significant impact on dealers. While franchised dealers are not subject to the jurisdiction of

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Controlled Change

August 23, 2017

Among the tech crowd, disruption is a magic word. It creates an opportunity.  The techies favor disruption because they are the ones that hope to profit from it.  If they can damage an existing industry, they can provide the virtual solution. For established businesses, disruption is generally not a good thing. For those that must

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CFPB Issues Final Rule Banning Class Action Waivers in Arbitration

July 26, 2017

On Monday, July 10, 2017, the Consumer Financial Protection Bureau released its final Rule to Ban Class Action Waivers in Predispute Arbitration Provisions.   The Rule is the result of a lengthy rulemaking process based on a provision of the Dodd-Frank financial reform legislation that empowered the CFPB to study and take appropriate action with respect

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Used Car Buyers Guide: Dealer Warranty Means Just That

July 26, 2017

We have written extensively about the revised FTC Used Car Rule. The revised rule went into effect January 27, 2017. It prescribes use of a revised buyers guide, although dealers can exhaust their existing supply of used car buyers guides if they make the appropriate disclosure changes required by the rule through January 27, 2018.

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