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"Make Deals and Roll Steel"
AUTO CREDIT TRAINING SOLUTIONS
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ANNUAL PHYSICAL INVENTORY SEASON
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Bullying in the Workplace
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November 3, 2010
Time: 8:30am-3:30pm
Cost: $99
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Phoenix, AZ 85040
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Red Flags Rule Enforcement
Deadline extended until
December 31, 2010
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Greetings!
Welcome to the latest installment of AADA's eNewsletter, containing information, announcements and reminders.
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| Economic Update | | |
LOW INTEREST RATES WASTED IN REGULATORY MUDDLE
By Paul Taylor, NADA Chief Economist
The next FOMC meeting is in November, a two-day event that will announce policy the day after Election Day for all of House of Representatives, some U.S. Senators and quite of few Governors, state and local officials.
The Federal Open Market Committee is struggling with the idea of taking additional significant action to stimulate economic activity right after the election. The FOMC stated the following in the press release for recent September FOMC meeting:
"Measures of underlying inflation are currently at levels somewhat below those the Committee judges most consistent, over the longer run, with its mandate to promote maximum employment and price stability. With substantial resource slack continuing to restrain cost pressures and longer-term inflation expectations stable, inflation is likely to remain subdued for some time before rising to levels the Committee considers consistent with its mandate.
The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels for the federal funds rate for an extended period."
Read more....................... |
| Automotive Related News | | |
Administration's Fuel Economy Announcement Raises NADA's Concern about Vehicle Affordability for Consumers
Read more.......
Auto Dealers to Help Car Shoppers Understand Revised Safety Ratings
New revisions to DOT's New Car Assessment Program include side pole crash tests, use of different-sized test dummies, an Overall Ratings Score for frontal, side and rollover test results, and the listing of high-tech crash avoidance systems
Read more...... |
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Dealer Information & Updates | | |
Retention of Records
How long is a dealer required to retain MVD paperwork?
A licensed Arizona Dealer must keep and maintain records (customers deal jackets) at the licensee's established place of business, or place of business if the licensee is a broker or a wholesale motor vehicle dealer, a permanent record in the form prescribed by the director for a period of three years.
Each record required by this section and all inventories relating to the records of a licensee shall be available at all times for physical inspection by agents of the department or members of the highway patrol division or any other peace officer.
A.R.S. 28-4403
For a complete list of records and retention, click here
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Dealer Plate Records
Is a dealer required to keep and maintain records for the use of dealer plates?
A dealer shall keep a written record of the vehicles on which the dealer license plate or plates are used and the person to whom each plate or pair of plates is assigned. The dealer shall make the record available for inspection by the department, a member of the highway patrol or any other peace officer.
If a dealer license plate is lost or stolen, the dealer shall make a written report immediately to the director that identifies the plate by type and number, including all available data concerning the loss or theft.
A.R.S. 28-4535
For more information on the use of dealer plates, see
MVD Policy 12.2.10. |
| Title & Reigistration Information & Updates | | |
Were you aware, effective August 29, 2010, as amended by Laws 2009, Ch 3,§ 1, (A.R.S.§ 28-2159) the Motor Vehicle Division now offers a five-year registration option to customers initially registering or renewing their vehicle registrations.
Need further assistance with concerns or questions regarding recent MVD Policy & Procedures updates?
Please feel free to contact:
Lynn Scholtz
602 468-9714 ext 209
lscholtz@aada.com |
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Thank you for your continued support.
AADA
Arizona Automobile Dealers Association |
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