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Don't Miss Out on the Benefits of Deferred Sales Tax

By Michael Dunagan
TIADA General Counsel

One of the greatest legislative achievements of TIADA was the passage of deferred sales tax. It allows buy-here-pay-here dealers to pay sales tax from the income stream received from buyers (as opposed to fronting the entire sales tax amount at the time of transfer).  Additionally, it eliminates the payment of tax on any portion of the sales price not paid by the buyer.
 

How Facebook Is Helping Dealers Reach Customers

By Gabrielle Garrison
Partner Manager
Facebook/Instagram

Is moving metal and getting cars into the service bay important to you? What if I told you there was a place where you can reach 1.86 billion people to help with these objectives? Would you believe me if I told you that this place is also where people spend 1 out of every 5 minutes a day on their mobile device? Facebook and Instagram are not just social graphs anymore; they are a destination where your customers and perspectives customers turn to discover, be inspired and share the things that matter most to them, including with the businesses they value.

Do You Need to Keep Physical Titles on Premises?

Dealer Question: Am I required to keep the physical title certificate for every car on my lot on my premises?

7 Changes I Would Make to Your Dealership If I Bought It TODAY

By Zack Klempf
CEO & Founder
Selly Automotive

I started out in automotive retail at the age of 19 and fell in love with the industry. That experience led me to start a software company focused on the used car market and has given me the opportunity to travel across North America and visit various used car stores from the south side of Las Vegas to Honolulu, Hawaii. Moreover, my company has gathered valuable insights from quantitative and qualitative observations of the used car dealer segment.
 
Recently, I was speaking to a group of used car dealers about embracing technology and one very outspoken dealer broke-down at the end of my presentation. This dealer was from the baby boomer generation and had worked in automotive retail all of his adult life. Needless to say, he had seen a lot of change in the industry, most noticeably over the past five years. He exclaimed that he works seven days a week, can't compete with new car dealership buyers, his margins are shrinking, millennials he has hired in the past can't sell cars and no single man could know every software application needed to run a dealership in today's market. 
 

Vehicle Safety Inspections: Should Texas Eliminate Them?

State Representative Ron Simmons (R - Carrollton) and State Senator Don Huffines (R - Dallas) have both introduced bills, HB 3995 and SB 1588 respectively, that would eliminate the requirement for an annual state vehicle inspection.

We asked you whether you supported these bills in a poll in TIADA's weekly email. According to the results, nearly 70% of respondents favored getting rid of the inspections. 

Dealer Shares Three Keys To Auction-Sourcing Success

By Majd G. Saboura
Director of Wholesale Business Development
vAuto

I had a fascinating discussion last week with an independent dealer in Florida.

His used vehicle sales are up about 40 percent compared to a year ago, with a commiserate rise in his store's profits. 
 

Vehicle Storage Laws in Neighboring States

Oh, vehicle storage fees. They are the bane of many a dealer's existence. The fees are ridiculous, the storage facilities are rogue operations that do not follow the law and it takes a minimum of five business days before a lien holder is notified that their vehicle is at the facility in the first place. Does every state operate like Texas when it comes to this? Here is a survey of our neighboring states' storage and impound laws.

Internet Sales Create Risk Of Out-of-State Lawsuits

By Michael W. Dunagan
TIADA General Counsel

The internet can be a wonderful thing.  New and exciting applications are being discovered every day that make our world seem smaller.  On the business side, the internet has expanded our selling opportunities and increased our buying choices.  Certainly, those who buy and sell motor vehicles have found a brave new world out there where markets are no longer limited by geographical or mileage restraints. 

There has also been a dark side to the internet that seems to follow all new innovations as technology shoots out ahead of the laws and regulations that were designed to protect citizens from theft and fraud.  Most of our laws were written well before the internet was even a gleam in some computer expert's (or Al Gore's) eye. 
 

What to Do When Exported Vehicles Return

Most dealers know how to process sales of a vehicle that will be registered someplace other than Texas, whether that place is New Mexico or New Zealand. Fewer know what to do when that exported vehicle returns to Texas. Can the dealer simply place the car in its inventory and proceed with selling? Not so fast.

Can You Reject Junk Insurance?

Limited insurance policies have plagued our membership for years. Common iterations of these policies include named-driver coverage (policy only provides coverage for the driver listed on the policy), excluded-driver coverage (the policy that states that it does not cover a specific driver), and high-deductible policies. Car creditors throughout the state wonder whether they can refuse to accept such “junk” insurance as a way to protect their collateral. The answer is yes, so long as your refusal is based on a reason that the Office of Consumer Credit Commissioner has established as acceptable.
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