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Some franchised dealers find it advantageous for a senior manager to have “skin in the game” – an ownership interest in the dealership that enhances the manager’s rewards and risks because of the dealership’s performance.
Read ArticleNew 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
Read ArticleCommon 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
Read ArticleOne 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
Read ArticleIf 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
Read ArticleWhat 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
Read ArticleFTC 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
Read ArticleIn 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
Read ArticleWhen asked for the one piece of advice to give to a dealer on franchise relations, President Ronald Reagan’s often repeated phrase that characterized his relations with the Soviet Union is a good choice –
Read ArticleOh, what a difference a few years make. In late 2008, many auto pundits lamented that we might never again see sixteen million annual new vehicle sales. Proving that their memories are as faulty as
Read ArticleYou 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
Read ArticleFederal 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,
Read ArticleVADA 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
Read ArticleRequired 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
Read Article2011 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
Read ArticleAttention Dealers!! OSHA recently announced its top 10 most frequently cited violations in America’s workplaces. Every year, OSHA compiles injury information from businesses across the country to identify injury trends, the costs associated with these
Read ArticleWhat you don’t know can hurt you! In the car business ignorance is not bliss! Not knowing and benefitting from the challenges and troubles of your brother and sister auto dealers can only lead to
Read ArticleA common provision in contracts that dealers sign with suppliers covers choice of law, venue, and jurisdiction. Generally, supplier contracts provide that the law that will be applied to any dispute is that of the
Read ArticleAny new car dealer who has gone through the process of building facility improvements to meet a manufacturer’s requirements knows about “that letter” – the agreement letter by which the factory magnanimously lets the dealer
Read ArticleYour dealership has just been though an audit by your franchisor. You and your team sat with the auditor, you received a recap of the findings, and the amount of the chargeback was presented to
Read ArticleThere are a lot of marketers out there claiming that they perform magic. There is no end to those who claim to have a secret formula to get customers to flock to your showroom. Whether
Read ArticleThere has been a great deal of publicity concerning fees that financial institutions have sought to impose as a result of new laws such as the Dodd Frank financial reform legislation. Sometimes, the fees have
Read ArticleThe Federal Trade Commission’s Red Flags Rule requires a dealer to know its customer in a credit transaction. For a number of reasons, it is important that a dealer know its customers no matter what
Read ArticleThis is the first of a two-part series dealing with federal employment laws. It is critical that employers comply with these regulations to provide fair treatment to employees and to avoid costly penalties in the
Read ArticleThere has been a substantial amount of publicity recently concerning backdating retail installment sale contracts. The practice can lead to serious problems. The problem can arise when a dealership spot delivers a vehicle to a
Read ArticleThe results of the 2010 federal census are finally making their way into some manufacturers’ relevant market area descriptions for dealers. This could impact the measurement of your sales efficiency. The make-up of your RMA
Read ArticleYou’ve seen (and maybe even used) ads claiming that a dealer will pay off customers’ trades no matter how much they owe. The Federal Trade Commission has announced consent agreements with five auto dealers who
Read ArticleWe as know, distinct differences often exist in the values held by members of a one generation compared to the values of a different generation. Individuals experiencing the great depression have a different perspective than
Read ArticleHealthcare costs for a family of four will exceed $20,000 annually in 2012 for the first time, as reported by Milliman Medical Index (MMI). This is a 6.9% increase over 2011 and an increase in
Read ArticleIn its most simple definition, talent is any individual who has the capability to make a significant difference to the current and future performance of the organization. It is no wonder that more and more
Read ArticleThe best strategy for protecting against a franchise termination is to aggressively make your case when you get the first factory letter critical of your performance. If you wait until the termination notice is issued,
Read ArticleHave you noticed the upsurge in publicity concerning so-called “yo-yo sales”? About how oppressive and damaging they are for consumers? Do you think it’s a sign that these problems are suddenly multiplying? It is not.
Read ArticleWhenever a factory repurchases a dealer’s franchise, it always wants a computer readable copy of the dealer’s customer information. Dealers often ask why, since the factory already has information on every customer who bought a
Read ArticleFrom time to time, we like to cover critical issues in supplier agreements to which a dealer should give attention. This month we will cover indemnity provisions. What is an indemnity provision? It is an
Read ArticleTwo Toyota dealers in overlapping markets have been involved in overly aggressive competition that has led to lawsuits, and their activities provide lessons for all dealers. One of the cases has had significant publicity. A
Read ArticleThis time of year, many organizations begin implementing a year-end performance evaluation process for employees. Supervisors should understand that this is a critical responsibility, and they should be careful to avoid the following common traps
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VADA will be conducting its annual Legislative and Legal Update webinar on Tuesday, June 11th from 11:00 am until 1:00 PM covering issues such as the comprehensive bill to increase transportation revenue.
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Learn the advantages and disadvantages of having “skin in the game” – an ownership interest in the dealership that enhances the senior manager’s rewards and risks.
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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
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The NADA Workforce Study is now available online and we need your dealership(s) to participate. Participating dealers will receive their dealership-specific Basic Report and Industry Report at no charge.
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Include a Waiver of the Landlord’s Lien 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
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