Newsletter + Article Archives

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

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Short Cuts

December 23, 2013

New I-9 Form Dealers know that their packages for new hires must include an I-9 Form to verify the identity and eligibility of employees hired. The supplies of forms that dealers have in inventory may not be up to date, however. The U.S. Citizenship and Immigration Services has revised Form I-9, and employers must begin

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Dealership Real Estate Lease In VA

December 23, 2013

Common law gave a landlord a lien to sell abandoned personal property left on rented or leased premises by a former tenant to cover unpaid rent or damages to the property. Over the years, states have enacted statutes codifying the lien and including limitations. In Virginia, the statutes apply the lien to the tenant’s personal

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Selling a car on eBay

December 23, 2013

One of the primary concerns of dealers doing business on the internet should be where problems with a sale are resolved. Can the dealer be sued in some court in a faraway state where a customer claiming problems with the sale lives? Generally, courts around the country have split on this issue, some saying that

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Downpayments – Does your Policy match your Master Agreement Requirements?

December 23, 2013

If a customer must stretch to come up with a downpayment by using a credit card or a hold check, does that pose a risk for your dealership? Apparently more than many dealers realize. A dealer’s master agreement with a finance source contains numerous representations and warranties, including assurances about the downpayment. If a customer

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The Blind Leading the Sighted

December 23, 2013

What do you call it when people who know little about an industry insist on telling those who know a lot how the industry should operate? In the federal government, it is called “business as usual”, and it’s exactly what is going on with the Consumer Financial Protection Bureau’s efforts to regulate car dealer financing.

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Do You Have a Cash Reporting and Money Laundering Policy?

December 23, 2013

Do your employees understand your cash reporting and money laundering prevention policy? If not, consider the fates of the following dealers in just the last few months. In Albuquerque, NM, the federal government seized $841,883.00 from a used car dealer alleged to have structured otherwise reportable transactions. The government has not indicted the dealer, but

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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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