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

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Damage to New Vehicles Procedure

December 23, 2013

Virginia Code 46.2-1571 governs the procedure for damage to new vehicles as follows: D. On any new motor vehicle, any uncorrected damage or any corrected damage exceeding three percent of the manufacturer’s or distributor’s suggested retail price as defined in 15 U.S.C. §§ 1231-1233, as measured by retail repair costs, must be disclosed to the

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Compliance Triage

December 23, 2013

Dictionary.com defines “triage” as “the determination of priorities for action in an emergency.” If you are a dealer who believes that you are facing more compliance challenges than ever, you are not alone. Many dealers today are overwhelmed by challenges because of new government mandates and actions. It is time to prioritize your obligations to

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Short Cuts March 2013

December 23, 2013

FTC Requests Public Comments on Used Car Rule Revisions On December 4, 2012, the FTC sought public comment on proposed changes to the Used Car Buyers Guide required by the Used Car Rule.  In effect since 1985 and last amended in 1995, the FTC has concluded that the Rule benefits consumers and will be retained.

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Credit Card Surcharges

December 23, 2013

In recent weeks, dealers have been excited by the news headlines that businesses can begin surcharging their customers for credit card purchases.  Credit card issuer rules have always been a thorn in the side for dealers in vehicle sales.  “Can we add a surcharge?”  “Can we limit the amount charged?”  No federal law has prevented

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12 for ’12

December 23, 2013

2011 was a better year for car dealers, and dealers hope that business will improve in 2012.  Despite continuing weakness in the general economy, customers are making their way to dealers’ showrooms.  There are a number of reasons for that, and barring some major disruption the improvements should continue throughout 2012, leading to enhanced dealer

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Health Care Reform Update 2013

December 23, 2013

Required Notices to Employees and Dependents  Please contact your carrier or employment law attorney or trusted benefit advisor if you have questions about these notices. VADA Insurance is here to guide our clients and association members; however, we do not provide legal counsel. Summary of Benefits and Coverage (SBC). Starting with plan years and open

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Regulatory Updates

December 23, 2013

VADA Navigates the Virginia Regulatory Maze for Virginia Dealers VADA is involved in many types of issues outside the legislative process that could have negative impacts on our dealer members. Here are several matters that we have been working on in the past few months. Factory Ownership and Tesla Motors: Tesla Motors is a manufacturer

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Government Shortcuts

December 23, 2013

Federal Update   • The Consumer Financial Protection Bureau has issued regulations revising the summary of Consumer Rights Form that must be used by employers who do background checks. Under the Dodd-Frank financial reform legislation, the CFPB replaced the FTC as the primary rule-making and enforcement authority for background checks of individuals under the Fair

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Advertising and the Feds

December 23, 2013

You have probably been reading a lot lately about the Consumer Financial Protection Bureau (CFPB). Its regulation of the companies that provide financing and leasing for your customers will have an impact on your business in the future.  Franchised dealers, however, are not subject to direct regulation by the CFPB. That is because the Dodd

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