Archive February 2019

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Be Careful When Taking Credit Card Installment Payments Over the Phone

If you accept credit cards please make sure that the credit card is issued in the name of the insured and that you have reviewed your merchant provider services agreement for dispute resolution procedures. TIADA recommends that you review your credit card authorization forms closely for use by customers AND other payment providers.

TIADA Fights for YOU at Texas Capitol!

This week a record attendance of 50 TIADA dealers and associate members traveled to the Capitol in Austin to advocate for legislation and policies beneficial to the independent auto industry. While there, they met with over 70 legislators and members of their staff. 

Electronic Contracts Can Save Dealers Money and Time

More and more automobile dealers are utilizing electronic documents for processing vehicle loans. With “e-contracting,” dealerships fill out and send most forms to lenders and product providers digitally, rather than shipping off thick envelopes the old-fashioned way. 

Be Careful When Accepting Cash Payments

After 9/11, the United States Government updated cash reporting requirements as part of the Patriot Act to limit money laundering. Any dealer who accepts payments in cash should be aware of Form 8300.