January 13, 2015



Online Automotive Platform Sponsor

TITLE SPONSOR OF THE
2014 CHARITY PREVIEW PARTY

IN THIS ISSUE

SPECIAL ANNOUNCEMENTS

Colorado Dealer Breakfast

 

CALENDAR OF EVENTS

Denver Auto Show

Innovative Dealer Summit

Charity Preview Party

 

a DEALER NEWS & INFORMATION

Did you miss CADA¹s December 30 Webinar On Recalls Featuring Auto Industry Attorney Michael Dommermuth? Purchase it On Demand!

Automotive News Best Practices

Clear The Air Foundation 60 Second Video

Auto Industry News at a Glance

 

REGULATORY & LEGAL UPDATES

Reminder: Uniform Consumer Credit Code (UCCC) - Annual Filing *** Due January 31st***

Title Brand Changes – Implementation Now Completed

 

UPCOMING SEMINARS

KPA WEBINAR - How to Manage Millennials

Did you miss CADA¹s December 30 Webinar On Recalls Featuring Auto Industry Attorney Michael Dommermuth? Purchase it On Demand!

Upcoming Seminars

 

ENDORSED PROVIDER

Federated Insurance: Auto Dealer Claim of the Month

UniFirst... The Nation's Preferred Auto Uniform Supplier

 

ALLIED MEMBERS / ANNUAL MEMBER GOLF EVENT SPONSORSHIP ADS

35 Years of Raising the Standard In F&I

 

LEGISLATIVE UPDATE

NADA Supports Bipartisan Effort to Reform CFPB Auto Lending Guidance

CADA Bill Tracker


DEALER MILESTONES,
HIGHLIGHTS & TRANSITIONS

Let Us Know About Your Accomplishments!

 

THE AFTERFACT

All the News That's Fit to Email!


ARCHIVES

CLICK HERE for Open Road
e-newsletter archives.

CLICK HERE for an Index of Regulatory
& Legal Articles
from the Open
Road e-newsletter.

CLICK HERE for Bulletin archives.

CLICK HERE for Colorado Auto
Outlook
archives.


ONLINE REGISTRATION

CLICK HERE to register online
for various CADA seminars & events.


MEMBERSHIP RESOURCES

CLICK HERE for details on the
Speaker and Educational
Resources
.

CLICK HERE for a list of current
Endorsed Vendors/Programs
.

CLICK HERE for a list of current
Allied Members
.

CLICK HERE for an order form for
CADA forms
.

CLICK HERE for information on all member services.



www.nada.org


www.aiada.org

CLICK HERE for NADA
Regulatory


Affairs information.

STATE GOVERNMENT RESOURCES

CLICK HERE for the Auto Industry
Division
of the Colorado Dept.
of Revenue.

CLICK HERE for the Title and
Registration section
of the
Colorado Dept. of Revenue,
Motor Vehicles Division.

CLICK HERE for the Colorado
Department of Labor &
Employment
website.




Visit us at www.coloradodealers.org.


CADA Hours of Operation
Monday to Thursday, 7 a.m. to 5 p.m.
Friday, 7 a.m. to 4 p.m.

open_sign


CADA STAFF

CLICK HERE for a CADA staff listing


If you have questions
or suggestions
regarding this
e-newsletter, please
contact Marsha Temple at
marsha.temple@coloradodealers.org

CLICK HERE or scroll to the bottom
of this page if you want to be
added or removed from our list.


Need Acrobat Reader
to view linked
documents?
CLICK HERE for a FREE
download from Adobe.


ENDORSED PROVIDER/PROGRAMS

CLICK HERE for information about the
Endorsed Programs
.

Contact Polly Penna at CADA to request more information on any of the programs below: polly.penna@coloradodealers.org

Choosing a CADA endorsed provider supports our work for the Colorado retail vehicle industry.
________

American Fidelity Assurance Company
www.afadvantage.com

Supplemental Employee Benefits
________

www.americanexpress.com

a Corporate Card - Rewards Program
________



www.bradfordpublishing.com

Dealer Retail Installment Sales Contract (“Rocky Mountain Bank Note”)
________

www.federatedinsurance.com

a General Liability
________

www.incom-direct.com

Merchant Transaction Processing
________

http://www.kpaonline.com/

HR Management & Online Compliance

Environmental / Health & Safety Compliance
________

www.lbtelecom.net

Telecommunications
________

https://www.nadart.org/

Retirement plan management
________

www.business.officedepot.com  

Office Supplies
________

www.unifirst.com

Uniforms / Standard Workwear
________

www.wfis.wellsfargo.com

Insurance Services

 


If this e-newsletter does not display correctly,
CLICK HERE
to access the web-based version.


aCADA Open Road is now beginning its eighth year of service, providing uninterrupted weekly news and information for Colorado automotive professionals to better compete in our industry, since its first issue on
Jan. 3, 2007.


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COLORADO DEALER BREAKFAST


Event Description
Date/Time
Location

Denver Auto Show

Wednesday, April 8 - Sunday April 12

Colorado Convention Center
700 14th Street
Denver, CO 80202

CLICK HERE for information

Innovative Dealer Summit

Tuesday, April 7
8am - 5:30pm
(The 7th Annual Charity Preview Party follows from 7-10pm)

Wednesday, April 8
8am to 2pm
Registration opens at 7am both days

Colorado Convention Center
700 14th Street
Denver, CO 80202

CLICK HERE for information and registration details.

Charity Preview Party

Tuesday, April 7
7pm - 10pm

Colorado Convention Center
700 14th Street
Denver, CO 80202

CLICK HERE for information and registration details.


DID YOU MISS CADA'S DECEMBER 30 WEBINAR ON RECALLS FEATURING AUTO INDUSTRY ATTORNEY MICHAEL DOMMERMUTH?

The complete webinar is currently available for purchase on-demand.

Contact Trainor Walsh for more details:
trainor.walsh@coloradodealers.org
P: 303-457-5115

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CLEAR THE AIR FOUNDATION 60 SECOND VIDEO


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AUTO INDUSTRY NEWS AT A GLANCE

Listed here are several articles pertaining to the auto industry in general that appeared recently in newspapers and other media outlets across the nation.


…more news articles are included at the end of this issue.


 

REMINDER: UNIFORM CONSUMER CREDIT CODE (UCCC) - ANNUAL FILING * * *DUE JANUARY 31ST * * *

Most all dealers in Colorado need to make this annual filing with the Attorney General’s office.  The few exceptions include dealerships that do not assign any retail paper (installment contracts), do not arrange financing, or do not make any consumer credit transactions. 

The annual notice fee for 2015 is $150.00
 (same as last year). LATE FEES: the annual fee is due each year by January 31st (with a 30-day grace period; late fees of $5.00 per day start to accrue on March 1st). 

CLICK HERE to review the UCCC memo regarding this annual filing (includes the form and online payment options).  

About the UCCC: The Colorado Uniform Consumer Credit Code (UCCC) is a state law that regulates the terms and conditions of consumer credit in the State of Colorado. It sets maximum rates and charges for some fees, requires disclosure of the cost of credit so consumers may shop for the best rates, and provides remedies for consumers on default.  Dealerships, as retail merchants that regularly extend consumer credit and "arrange financing" (even if all paper is ultimately assigned to a lender) are included in the UCCC requirement to annually file with the state. The UCCC is enforced by an Administrator within the Attorney General’s office.

* * * * * * * *

The 2014 General Assembly passed legislation that addressed some key issues in Colorado title branding.  The computer system programming and changes required within the Department of Revenue (DOR) are now completed so that dealers should begin seeing these changes on newly issued Colorado titles.  CADA was actively engaged in both the task force leading up to this legislation as well as in the legislative process. 

A driving factor behind the primary bill, HB14-1100, was that Colorado had developed a reputation as a “title washing state” – especially in the aftermath of flooding around the country. Other state brands were “carried forward” only if Colorado defined a similar brand (even if the detailed brand definitions varied somewhat), in which case Colorado added its brand.  Because Colorado did not have any type of flood brand, if a vehicle had any sort of flood-related title brand in another state, the vehicle could go through Colorado and revert to a clean title.  The same was true for numerous other title brands that other states have but Colorado does not.  HB14-1100 addressed these shortcomings and made several key changes:

CLICK HERE to read the full article from last week!

* * * * * * * *

If you have questions on any legal or regulatory topic, please contact:

Tammi McCoy, VP, tammi.mccoy@coloradodealers.org, 303.282.1449

Tim Jackson, President, tim.jackson@coloradodealers.org, 303.282.1448

DISCLAIMER: CADA is not authorized to dispense legal advice. The information contained in this weekly email is intended to provide important updates and reminders regarding statutes, litigation, and regulations. CADA always advises that dealers should consult legal counsel on the specifics of any laws or regulations to ensure proper compliance.


 

KPA WEEKLY WEBINAR: 
Covers an Environment & Safety or an HR topic each week

Thursday January 15, 2015, 10:00 am Mountain Time
10-11am (MST)

How to Manage Millennials

Strategies for Dealerships to Engage the Millennial Generation

Millennials are quickly filling the ranks of dealerships as the boomer generation retires from the workforce. This change affects managers as they attempt to attract new millennial hires and retain them as employees. Join KPA’s Human Resource Advocate, Tami Boyer, as she dissects the millennial mindset, teaching you about millennial needs. Tami will discuss:

  • What makes a millennial
  • Millennial workplace expectations
  • Strategies to engage millennials

Click here for upcoming Human Resources webinars.

Click here for upcoming EH&S webinars.


Previously recorded webinars are also available

aa

* * * * * * * *

aTO REGISTER ONLINE FOR ANY CADA
SEMINAR OR EVENT, PLEASE VISIT:

www.coloradodealers.org/registration
Event Description
Date/Time
Location

Did you miss CADA¹s December 30 webinar on recalls featuring auto industry attorney Michael Dommermuth?

Purchase it On Demand!


Contact Trainor Walsh for more details:
trainor.walsh@coloradodealers.org
P: 303-457-5115

KPA Weekly Webinar

Special Event: HR Practices Webinar for Group Dealerships


10:00-11:00am (MST)


CLICK HERE for upcoming topics and to register!

Previously recorded webinars are also available at the above link.

If you have a particular area of interest or would like to suggest a training seminar topic, please contact Marsha Temple at 303.457.5123 or marsha.temple@coloradodealers.org


FEDERATED INSURANCE: AUTO DEALER CLAIM OF THE MONTH

Federated Insurance’s “Claim of the Month” – Could it happen to you?

A sales rep drove a high-end demo home. That evening, she took friends out for dinner and drinks. On the way home, she caused an accident that resulted in two serious injuries, and the death of a single mother of three.
CLAIM AMOUNT: $3.5 million

What policies are in place to help prevent this from happening at your dealership? Do you know who’s driving your vehicles? Federated Insurance recommends several best practices to help protect your business and manage risks; for example,

  • Know your drivers. Order MVRs on all employees who may drive company vehicles.
  • Limit the number of demos.
  • Transfer the risk: get the title out of the dealership’s name.

These are just a few loss control recommendations you can use to help protect your dealership. To learn more, contact your local Federated Insurance representative and request a copy of our Auto Dealer “Keys to Success” risk management education materials. Federated Insurance is recommended by 18 state and national auto dealer associations just like yours for customized insurance programs and value-added risk management services, such as Federated’s Shield Network®, the Risk Management Resource Center, and the Federated Employment Practices NetworkSM. Visit www.federatedinsurance.com to discover resources you can use to create or ramp up your own risk management program, or to contact your local representative.

CLICK HERE to download a copy of this article.

Federated Mutual Insurance Company • Federated Service Insurance Company* • Federated Life Insurance Company Owatonna, Minnesota  55060 • Phone: (507) 455-5200 • www.federatedinsurance.com *Not licensed in the states of NH, NJ, and VT.

This article is for general information regarding risk prevention and should not be considered legal advice. The claim example is only a basis for discussion and illustrates only one possible scenario. Coverage for actual claims will be determined solely by individual policy terms and facts of the claim. The recommendations presented are not guaranteed to reduce or eliminate any risk of loss. Seek qualified counsel regarding questions specific to your circumstances. © 2015 Federated Mutual Insurance Company.

Federated Insurance specializes in general liability/business insurance for selected industries, including auto dealers.  CADA members interested in more information, contact Mike Russell, Senior Account Executive, Cell: 480.216.5445 or mdrussell@fedins.com

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UNIFIRST... THE NATION'S PREFERRED AUTO UNIFORM SUPPLIER


 

35 YEARS OF RAISING THE STANDARD IN F&I



NADA SUPPORTS BIPARTISAN EFFORT TO REFORM CFPB AUTO LENDING GUIDANCE
  
NADA is urging Congress to pass HR 5403, a bipartisan bill that nullifies the Consumer Financial Protection Bureau's (CFPB) flawed guidance on auto lending and requires more transparency and accountability from the agency on future guidance.

The new bill, "Reforming CFPB Indirect Auto Financing Guidance Act," would allow the agency to reissue its guidance under a more transparent process.

As previously reported by NADA, in March 2013, the CFPB issued guidance that threatens to eliminate the flexibility of new-car dealerships to discount the interest rate offered to consumers to finance vehicle purchases. The CFPB claims that negotiated interest rates between dealers and their customers create a significant risk of unintentional "disparate impact" discrimination. However, there are a variety of legitimate business-related factors that can affect finance rates, such as beating a competing rate.

"HR 5403 is needed because it requires the CFPB to follow a transparent process when issuing auto finance guidance," said NADA Chairman Forrest McConnell. "The bill would rescind the 2013 auto finance guidance and require public participation for future guidance before it is issued."

NADA urges dealers to contact their House members today to co-sponsor HR 5403.

Find your House representative 

View NADA brief on HR 5403 

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CADA BILL TRACKER

Follow the Colorado Auto Dealers Bill Tracker HERE!


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LET US KNOW ABOUT YOUR ACCOMPLISHMENTS!

Have you or anyone else at your dealership won an award recently? Have you or your dealership provided any outstanding community service? We want to recognize such accomplishments. Please send us a brief write-up of the award or event along with any other information to milestones@coloradodealers.org. Also include your contact information for further follow-up.



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Colorado Automobile Dealers Association
290 East Speer Boulevard Denver, CO 80203
Telephone: 303.831.1722 | Facsimile: 303.831.4205
www.coloradodealers.org