Compliance is a constant source of stress and concern for dealers, with a huge number of rules and regulations to adhere to. Auto Dealer Monthly offers a brief summary of one of those issues, Fuel Economy Advertising for New Automobiles. Please note, this is not legal advice and dealers should always seek the assistance of qualified legal counsel.
Auto dealers face a multitude of compliance issues on a daily basis. Here is brief summary of one of those issues, Form 8300 and Reporting Cash Payments of Over $10,000. Please note, this is not legal advice and dealers should always seek the assistance of qualified legal counsel.
Auto Dealer Monthly presents a brief summary of one of the many compliance issues that affect dealers, the Office of Foreign Assets Control (OFAC). Please note, this is not legal advice and dealers should always seek the assistance of qualified legal counsel.
Jennifer Murphy - In an effort to alleviate some of the stress caused by trying to understand the compliance issues dealers must contend with, here are 19 laws, rules and regulations summarized (along with potential penalties for breaking them and helpful links to useful information).
Jason Ezell - In a business where inventory is the backbone of sales, the car industry doesn’t lend itself very well to cutting costs. A lower inventory, while it might save money, might also cost you more in lost sales. So what’s the answer?
Thomas B. Hudson - Joseph Heller’s 1961 World War II novel, “Catch 22,” dealt with the rules that governed how many deadly missions B-25 pilots had to fly before they could go home. I’ll bet Mr. Heller never envisioned that the phrase would be used in connection with the sale of VSI insurance in an auto finance transaction.
David Keller - After reviewing many dealerships’ financial statements over the last six months, it seems the used vehicle department is the king of profits and volume. Most dealers, with new vehicle sales still depressed, are selling more used vehicles than ever. It is more important than ever to manage your vehicle inventories.
Jennifer Murphy - One doesn’t have to be tech-savvy to understand the popularity of social media. Lisa Cryder, the owner/general manager at Lebanon Ford Lincoln Mercury realized social media could be a powerful business tool—one her Lebanon, Ohio, dealership stood to benefit from.
J.D. Rucker - When the topic of inventory management is brought up to car dealers, certain things always come to mind. How should it be priced? How often is it updated? How many pictures should you take? While these are all important, one aspect that is regularly forgotten is how to drive the right traffic to the specific vehicles that people want to buy.
Thomas B. Hudson - Life is difficult enough when you at least know what you don’t know. But when you don’t know what you don’t know, life gets downright dangerous.
David Keller - The massive health care legislation, signed into law by President Obama, contains provisions that will affect every employer, but the timing of different pieces of the legislation ranges from items that apply immediately in 2010 to a variety of tax increases that become effective from 2011 to 2018.
Jason Ezell - I have always been mesmerized with the amount of information the Internet has provided, both on the Web itself and through the data being produced by millions of people using the Web. Oh, the power we would gain from harnessing this data and molding it into usable knowledge with which to make solid business decisions.
Jennifer Murphy - Generally speaking, heated seats aren’t a popular option when purchasing a car in Florida. At Century Motors in Pompano Beach, Fla., Dealer Frank Fuzy said, “You can turn a heated seat on in South Florida … and it’s hard to tell if that heated seat gets warm.”
Howard Polirer - Consumer shopping behavior has shifted in response to recent economic changes. Many consumers believe that the current economic issues are long-term and will have permanent effects on how they spend money.
Allen Dobbins - Choosing the right dealer management system (DMS) can keep an owner awake at night. Pick the wrong one, and it will affect employee morale, which could result in high employee turnover, drive productivity to the ground and lead to a negative impact on the bottom line.
