Recently incorrect information has been circulated concerning revisions to the Buyers Order (B/O) resulting from actions by the 2009 session of the General Assembly. The new information (Paragraph 9 on the VIADA B/O) must be on the B/O, it cannot be attached to one that contains the former language.

The requirement to include the revised language was pushed forward to July 1, 2010, to allow time for compliance.

The last five years have brought numerous changes to the motor vehicle industry including the emergence of private Consumer Law firms.

Are you secure in the knowledge that your approach to the offering and sale of a vehicle will shield you from litigation?

The two day Dealer-operator course can help strengthen the confidence in your policies and procedures and bring you up to date with today’s realities.

Comments received from recent participants:

“The MVDB insisted I attend. I walked in the first day with a chip on my shoulder, and left after the second day with knowledge that will help my business and keep me legal.”

“With all the changes over the last few years, I was unknowingly headed for some real expensive problems.”

“How do I go home and tell my father all the things we are doing wrong?!”

Check out the schedule at www.mvdb.virginia.gov and attend the next class near you. How about making plans for your sales or office manager to attend?

VIADA serving Virginia’s most successful Independent Dealers!

Here’s an incident that has a noteworthy reminder…

Recently a Customer sued a Dealer on an As-Is sale because of improper disclosure. The Dealer had the Buyer only sign the As-Is statement on the Buyers Order and the judge ruled because he did not get the co-buyer’s signature the contract was void.

The Judge ordered the Dealer to pay the Customer $4200 to repair vehicle + court costs.

Just a friendly reminder….make sure when there is a co-buyer that both individuals sign the As-Is statement on the Buyers Order.

Mark your calendars in pencil!! The Red Flag Rule effective date has been postponed once again…the new date is December 1, 2010….we’ll keep you posted. It seems to keep get pushed back again and again and again.

Identity theft is America’s fastest growing crime. Learn how to protect yourself.

What is identity theft? Identity theft occurs when a crook steals pieces of personal identifying information, which may include a name, address, date of birth, Social Security number, and mother’s maiden name, to gain access to a person’s financial accounts. Armed with this information, an identity theif may open new credit or financial accounts, buy cars, apply for loans or Social Security benefits, rent an apartment, or set up utility and phone service — in someone else’s name.

Add these tips to your “must do” list to protect your identity:

1. Deposit outgoing mail at a Post Office or a blue U.S. Postal Service collection box, or give it directly to your letter carrier.

2. Shred or tear up unwanted documents that contain personal information before discarding them.

3. Review your consumer credit reports annually.

4. NEVER give personal information over the phone or internet unless you initiated the contact.

Visit these websites for more information on ID theft:
U.S. Postal Inspection Service: www.usps.com/postalinspectors

U.S. Secret Service: www.secretservice.gov

Late Breaking News – April 2010

The VIADA Board of Directors met last weekend and approved three new partners adding more benefits available to members.

· AFLAC – A group of health related products for the dealer and/or their employees. An important benefit since many members have dropped their hospitalization or scaled back coverage or opted for higher co-pays or deductibles. For more information contact Sandra Craff, Special Projects Coordinator, 757.338.5876

· Microbilt – Brings to members the three major credit reporting company’s and, for the first time, the ability to report their customer’s credit history. Also, skip tracing is a specialty of the companies many years in business. VIADA will be given a special toll free number, within a few days that will identify dealers as members of VIADA.

· Tim Byrd & Associates – Brings, especially to BHPH dealers, products that can be included in the contract, such as warranties and Loss Damage Waivers that replaces physical damage insurance, without the dealer having to front the money for these products. The real beauty is the premiums, less some administrative fees, belong to the dealer and is held in tax free accounts backed by insurance. For more information, contact Tim Byrd at 757.532.3938, or David Boling at 800.394.1960 for a written explanation of the two products.

Late Breaking News is a publication of the Virginia Independent Automobile Dealers Association and intended for the exclusive use of its members.
Phone: 757-464-3460 or 1-800-394-1960, Fax: 757-460-1346. E-mail: info@viada.org –
web sites: www.viada.org and www.virginiausedcardealers.com.

Visit this website for a list of vehicle defects and recalls:

www.odi.nhtsa.dot.gov

Please call or email David Boling if you have any other questions or need more information.
david@viada.org or on the VIADA hotline 800.394.1960

Advance Auto Parts has just completed a total restructuring. To activate your VIADA Member Account, call your local store to register prior to your first visit. Advance Auto Parts will need the Group # that appears on your VIADA Membership card. It’s that simple to redeem your VIADA Discount and start saving today!!

A recent study conducted in the Fall of 2009 by Ad-ology Research determined 42% of recent vehicle purchasers said SOCIAL NETWORKS (Facebook, Twitter) INFLUENCED THEIR DECISION MAKING PROCESS…Consumers want to learn what other vehicle buyers had to say, both positive and negative.

And the study also revealed that only 1% of all Dealers are utilizing their prospects!!
Get in the Social Network and let your sales soar!

The American Automobile Association unveiled a list of what it considers to be the top vehicle picks for commuters. AAA Auto Buying experts who conducted test drives and evaluations of hundreds of vehicles for the AAA Auto Maker vehicle research website generated this list based on such attributes as practicality, safety, comfort, fuel efficiency and affordability.

Drum roll please…..
The AAA’s Top Picks for Commuter Vehicles are:

Honda Insight

Ford Fusion

Volkswagen Jetta TDI

Hyundai Elantra

Subaru Legacy/Outback

Honda Civic

Chevrolet Malibu

Honda Accord

Mazda3

Continuing on, AAA pointed out that some consumers may want vehicles that not only are efficient commuter models, but also fulfill shoppers’ “secondary needs.” For example, some consumers may want an efficient commuter model that is also a family vehicle. Or they may want a ride that is good for long commutes, but is also built for recreation. They may even want a commuter car that also happens to be a luxury vehicle.

With this in mind, AAA shared their choices for vehicles that “address consumers’ secondary needs while still providing a smart choice for long commutes.”

Drum roll please…
The AAA’s Top Picks for Commuter Vehicles meeting Consumer’s Secondary Needs are:

Mini Cooper

Chevrolet Corvette

Buick Enclave

Mercedes-Benz GL

Volkswagen GTI

BMW 3-Series

Add some of these to your inventory and see how quickly the consumer’s commute to your dealership!