Newsletter + Article Archives

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

To submit a story, email us at teamvada@vada.com. To read President & CEO Don Hall's important monthly messages, click here.

To get our news delivered to your inbox each month, click here.

Credit Cards: Read Your Agreements!

December 23, 2013

The passage of the Dodd-Frank financial regulation bill last year, as well as a recent campaign by Ally Bank to encourage use of credit cards in vehicle sales transactions, has led to some misconceptions about credit card use in dealerships. Here are some frequently asked questions and answers about credit cards in a dealership. Q:        Do

Read More »

Primary Market Area Notices

December 23, 2013

Dealers regularly receive notifications from manufacturers of their area of primary sales responsibility. Whether the area is denominated as the primary market area, the area of geographical sales and service advantage, or some other term, many dealers disregard these notifications. These dealers generally feel there is nothing they can do about the size and shape of the

Read More »

RBP & AA Notices: The Confusion

December 23, 2013

There is confusion over the issue of whether a dealer should provide a risk based pricing notice, followed by an adverse action notice if credit is declined. You have probably read that: (1) the notice that most dealers have chosen to provide under the Risk Based Pricing Rule to consumers who apply for credit must be

Read More »

Healthcare Disclosure Required: I Have to do What?

December 23, 2013

The Medicare Modernization Act (MMA) requires employers that offer prescription drug coverage, through a group plan, to notify all healthcare eligible employees whether the coverage offered is creditable or not. Creditable Coverage is defined as coverage that is expected to pay on average as much as the standard Medicare prescription drug coverage. This requirement is two-fold.

Read More »

The Other Shoe Drops

December 23, 2013

This summer, all GM dealers received notices concerning their Area of Primary Responsibility (APR) and, where applicable, their Area of Geographic Sales and Service Advantage (AGSSA). Some dealers challenged those market assignments. Many did not. If you are a dealer who wondered what impact the new APRs and AGSSAs would have, we now have some answers.  General Motors

Read More »

Mythbusters: Used Car Warranties

December 23, 2013

MYTH: When a dealership sells a used car with the dealer’s warranty, the FTC buyer’s guide serves as the warranty document that the customer must receive. THE FACTS: A customer who buys a used car with the dealer’s warranty must also receive a separate warranty document.  The FTC Used Car Rule simply requires that a dealer describe

Read More »

The Importance of Keeping Your Insurance Policies

December 23, 2013

You should keep all former garage policies with your liability, property, comprehensive and other coverages. Plaintiffs’ attorneys are increasingly utilizing the legal doctrine of equitable tolling to circumvent statutes of limitations that might otherwise bar legal actions against dealers. This doctrine can be used by a court to allow the presentation of a stale claim

Read More »

Are You Inspecting Your Used Cars? (You Should Be!)

December 23, 2013

Used car managers like the cars they buy. Too often, they like them so much that they can’t wait to get them onto the front line, and that means no dealership employee takes the time to thoroughly inspect them. If that’s happening in your dealership, it’s a problem. Most used car managers will argue that they review

Read More »

FTC: The Beast is Stirring (Especially Over Internet Advertising)

December 23, 2013

The FTC has new power under the Dodd Frank financial reform law to regulate car dealers. It is about to host its third, and final, workshop this month in an attempt to determine whether it wishes to propose greater regulation of the industry. However, it has also announced that it is not going to wait to ramp

Read More »