Your Source for Virginia Dealer News – Archive (Old Copy)

Dealers constantly face the challenge of managing and training employees to work steadily and uniformly to reach the dealership’s goals. Employees may resist mandated training, but ignoring the need for such consistent efforts, especially on compliance, can be costly.

In the age of AI, consumers have looked to the internet to make certain claims against dealers. So there has become an uptick in questions around whether certain aftermarket products void vehicle warranties.

Occasionally, we discuss dealership myths — things that “everyone knows”, even though they may not be true. Here are some you should consider.

Understanding and maintaining adequate insurance coverage is not merely the best practice; it is a critical component of sound management and compliance.

The original Used Car Rule was promulgated by the Federal Trade Commission in 1985. While there are few dealership employees who were active before the Rule was put in place, there is still some confusion surrounding the completion of the buyers guide. This was caused in part in early 2017 when the Rule was revised, and the buyers guide was redesigned.

For years, it was old adage that the finance sources either did not permit or limited the amount of downpayment that consumers could put on a credit card for motor vehicle purchased that were financed. Times have changed. With the average cost of new motor vehicles around $50,000, making monthly payments affordable has become a real numbers game.