Nick Mumejian was working two jobs to pay for college. He was also attending classes, which made for a tough balancing act. “A friend suggested I take some time off school and start selling cars. I sold some cars. I liked it, and I decided to keep selling cars – and that was the end
VADA Welcomes New Chairman, Board Members
At its June meeting, VADA’s Board of Directors selected Tom Bates of RK Chevrolet as its newest Chairman. Also joining our Executive Committee is Mike Beyer of Beyer Automotive Group Bates takes over for immediate Past Chairman Dave Perno of Loyalty Automotive. “I want to thank Dave for his extraordinary service and commitment as our
Mythbusters: Don’t Just Sign That Franchise Renewal
Dealers regularly receive renewals of their franchise – the dealer sales and service agreement (“DSSA”). “It is a form standard for all states, so just sign” your representative says. To an extent, that is true. Franchisors have developed their form agreements consisting of the agreement granting the franchise, any standard terms which may be separate,
A Message From Don Hall
July 2020 Summer is usually a transition time for our industry. We’re finishing our sales of last year’s models and awaiting inventory of the latest vehicles. Without question, the coronavirus pandemic has changed those traditional cycles in our business. Even so, we’ve had some good back-to-back months, a definite positive considering the strong and
The Feds Are Still Looking
When Congress forced the Consumer Financial Protection Bureau to end its campaign against dealer reserve, some dealers got the impression that a fair lending policy is not important to your compliance program. Similarly, some dealers believe it is appropriate to add fees not specifically authorized by law to advertised prices for vehicles. The Federal Trade
Keeping VADA Members Informed
Every year, federal and state laws and regulations change, and your VADA Team is committed to ensuring you have the latest information to run a compliant dealership. Our annual Legal and Legislative Update, hosted virtually late last month, provided all members a summary of new legal requirements. Virginia General Assembly Several major transportation bills were
2020 Legal & Legislative Update
June 30, 2020 On June 22, 2020, VADA held its annual Legal & Legislative Update. We covered a range of topics, including: Employment law changes Minimum wage Safety inspections Peer-to-peer vehicle sharing Dealer plates (specialty tags) Upcoming 2021 legislative session, including warranty reimbursement and consumer data security Expected changes due to COVID-19 COVID-19 legal considerations
2020 Virginia Employment Law Changes
Supplement for Virginia Dealers Elections have consequences, so they say. An example is the Virginia General Assembly. The last two elections have brought sweeping changes to the General Assembly. The 2020 session was marked by highly publicized disputes, primarily on social agenda issues. While the high profile bickering ruled the headlines, proponents of major changes
VADA 2020 VIRTUAL CONVENTION
The 2020 VADA Annual Convention was planned for this week in Asheville, N.C., but the pandemic had other ideas for us. We know that a highlight of this event is the insights you gain from our slate of speakers. So this week, Team VADA is sending you four must-watch (or listen) interviews with the panelists
Flexibility for Paycheck Protection Program
On June 5, 2020, President Donald Trump signed the Paycheck Protection Program Flexibility Act (PPPFA), bringing several critical changes to the Paycheck Protection Program (PPP). The bill originated in the U.S. House of Representatives, where it passed 417-1 the week prior. On June 4, 2020, the U.S. Senate approved the measure by unanimous consent. The