Archive October 2022
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TIADA Hosts a Dealer Luncheon in Abilene
TIADA hosted a dealer luncheon in Abilene last month. Representative Stan Lambert of the Texas House of Representatives attended to discuss legislative issues related to the independent automobile dealer industry, and TIADA Executive Director Jeff Martin spoke about important updates to the community. It was the latest in a series of statewide legislative events hosted by TIADA this year.
Would Your Insurance Cover a Customer’s Car Catching Fire?
TIADA’s consultation service recently had a dealer reach out to us after their customer's car caught fire in their service department. TIADA has long recommended to dealers to have at least a garage liability insurance policy at a minimum as a best practice and also recommends considering other types of insurance.
How to Deal with Fraudulently Released LiensTIADA’s consultation service has received several calls from dealers whose customers signed their own lien releases. We will discuss how to deal with a disappearing lien. Please note this article will avoid discussing how customers do this to avoid creating a how-to manual for fraudsters to follow.
What Fees Can Dealers Charge Consumers?
A dealer group recently agreed to pay the FTC $3.3 million to settle charges that the company deceived customers by packing junk fees onto the cost of its vehicles. Specifically, the FTC alleges that the company “advertised price included the cost of certification, inspection, etc.,” but when the customer showed up, the dealer charged “hefty additional (and redundant) fees for those same services."
Best Practices for Hiring a Repossession Recovery Professional
By Les McCook
Special Projects Manager
Many of you are facing the same realities that other businesses are dealing with: higher costs for products, a shrinking buyer pool, and having to provide extended financing terms to sell your goods. Mitigating the risk associated with today’s business environment certainly includes your repossession process.
TxDMV Licensing Delays Create Problems at the Auction
As we reported in July and August, dealers have been facing delays when renewing their licenses. TIADA has continued to receive several phone calls from dealers expressing concerns about the delay in the license renewal process. Traditionally, it would take less than a month for a dealer to have his license renewed. Now, it's taking as long as 60 days or more. We are working closely with TxDMV to address these delays and anticipate significant improvements by mid-November.
TIADA Attends the 2022 NIADA Policy Conference
Your membership with TIADA includes membership to NIADA, which represents independent dealers in Washington, D.C. TIADA recently attended NIADA’s Policy Conference to ensure your voice is being heard. As many of you know, this has been a year filled with new federal regulations, including the FTC’s Safeguards Rule and a proposed FTC rule that would greatly impact automobile dealers.
Data Breach Reporting Requirements in Texas
Texas law requires certain businesses that experience a data breach of system security to notify affected consumers and to provide notice of that data breach to the Office of the Texas Attorney General if the breach affects 250 or more Texans.