Archive September 2021

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Ways to Lower Your Dealership’s Cost Structure

The COVID-19 pandemic turned the dealership world upside down last spring, and the ramifications are still being felt. With over a year’s experience behind us, it’s a good time to discuss a pivotal lesson learned during this precarious time.
Lowering costs should always be a key goal for dealerships but, during the pandemic, it’s taken on greater urgency. Here are three areas to examine.

Five Steps to Obtaining a Bonded Title

When a dealer does not have the original title, and they are unable to obtain a Certified Copy of Title, the dealer may need to apply for a bonded title. Bonded titles are a more costly way to obtain a title and require more effortNormally, a bonded title is used if a vehicle arrives in Texas with ownership questionsA bonded title is created by attaching a surety bond to a title. There are other options to a bonded title, such as a legal hearing, but getting a surety bond is typically much less expensive and certainly faster method.

Can I Send Repossession Notices by Email?

TIADA’s compliance consultation service recently received the following question from a dealer “What is your opinion on sending repossession notices by email? Our customers move so often we get a lot of letters returned to us. What do you think, are we safe to try this?