Greetings!
Welcome to the latest installment of IADA's e-news, containing timely updates, information, announcements and reminders. We welcome your suggestions and contributions. For further information and updates regarding the Idaho Automobile Dealers Association please visit our website at www.idahoada.org.
Thank you,
IADA Staff- |
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2009 IADA Convention
The 2009 convention in Missoula MT was a huge success! A special thank you goes out to all of the many dealers, vendors, sponsors and guests to turned out in record numbers to make this years convention one of the best in recent memory!
Mark your calendars for next years convention in beautiful Sun Valley, Idaho June 13 - 16.
IADA Staff- |
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ECONOMY WATCH
10 Things Dealers Need to Know about Cash for Clunkers.
After months of dismal sales numbers, the Consumer Allowance Rebate System Program - better known as Cash for Clunkers, couldn't come at a better time. The program will stimulate car sales by offering consumers up to $4,500 to put toward a new vehicle when they trade in their old clunker, which will then go to a junkyard. However, as with any brand-new government program, there are details that need to be ironed out. Already, rumors and misinformation about the CARS program are circulating among dealers and consumers. To help international nameplate dealers stay on top of the facts the following are the 10 most common Cash for Clunkers myths. CLICK HERE for a listing of Cash for Clunker FACTS
OTHER IMPORTANT DOCUMENTS:
CLICK HERE for a summary of Vehicle Tax Deductions for New Car Purchasers.
CLICK HERE for an overview of the major tax provisions for your review and dealership business.
Advertising: A note of caution on advertising: dealerships are prohibited under Idaho law from advertising that they will pay any tax on behalf of consumers. | |
AUTOMOTIVE NEWS AT A GLANCE
Listed here are several articles pertaining to the auto industry that appeared recently in newspapers and other media outlets across the nation.
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REGULATORY UPDATES
IDAHO ATTORNEY GENERAL FILES OBJECTION IN GM BANKRUPTCY
Attorney General Lawerence Wasden has joined more than 37 other attorneys general from across the country in objecting to General Motors' bid to unfairly modify its auto dealership agreements as part of its bankruptcy case in a New York federal court.
According to the joint objection GM is effectively forcing dealerships to substantially modify their agreements with the company or risk being closed. Under Idaho law, it is unlawful for an automotive manufacturer to coerce a dealership to accept an onerous dealership agreement through the threat of canceling or not renewing an existing dealership agreement. Idaho also has concerns that the sale order GM is seeking in its bankruptcy case could undercut Idaho's regulation of manufacturer-dealership relationships. Special concessions, which would apply to a reorganized GM after the bankruptcy sale is completed could upset the even playing field all automotive manufacturers and dealers enjoy in Idaho. To review a copy of the pleadings, please click on the following: CLICK HERE
Red Flags Rule Effective AUGUST 1st
Effective Aug 1, 2009, dealers and other creditors should have developed and implemented a written identity theft prevention program (ITPP). That's when the Federal Trade Commission will begin enforcing the Red Flags rule.
All NADA members have received a copy of A Dealer Guide to the Red Flags and Address Discrepancy Rules; Protecting against Identity Theft. It includes various ITPP templates. These templates as well as worksheets are also available electronically at no charge to NADA members. These include risk assessments, sample clauses for service provider agreements, and a sample compliance document. To obtain these, e-mail NADA Management Education at me@nada.org. Use the subject line "ITPP Template," and include your name, title, dealership address, and NADA member ID number.
For more information on the NADA Guide, CLICK HERE:
To access NADA's virtual seminar, Complying with the New FTC Red Flags Rule,
CLICK HERE: (available through 5/31/09)
For a video, titled "Identity Theft," CLICK HERE: | |
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SENATE BILL 1053: LEGAL NAME COLLECTION REQUIREMENTS FOR IDAHO DELAERS
The Idaho Transportation Department has been authorized to require Idaho's dealer body to collect full legal names, driver license, social security numbers, or EIN numbers, and both physical and mailing addresses.
In the absence of a driver license number or social security number, this bill also has a provision that allows the department to accept proof that an individual does not possess a social security number. Dealers must collect an Idaho driver's license, Id #, or social security number for all owners.
This bill was written to assist the department in collecting this information to move forward with a true one-person, one-record DMV modernization effort, and to eventually comply with the requirements of another Idaho code, requiring the department to revoke the registration of drivers who fail to comply with filing and maintaining financial responsibility (an SR-22 filing).
This is required for some drivers who have had driver license suspensions for reinstatement purposes. Implementation of this code will require written procedures and is one of our top priorities to prepare dealers and counties, as well as notifying the public.
This will also require many updated forms for use in collecting this information. Effective 7/1/09. |
LET US KNOW ABOUT YOUR ACCOMPLISHMENTS!
Have you or anyone else at your dealership won an award recently? Has your dealership provided any outstanding community service? We want to recognize such accomplishments. Please send us a brief write-up of the award or event along with any other information to info@idahoada.org. Also include your contact information for further follow-up.
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Mission statement: The Idaho Automobile Dealers Association was formed in 1932 to represent interests of new vehicle dealers in the state. Our goal then and now has been to improve, enhance, and grow the automobile industry in Idaho. By advocating and providing programs, products and services for new car dealers, we want to create a stable and healthy retail market for Idaho's businesses and consumers.
Sincerely,
Trent Wright
Idaho Automobile Dealers Association |
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Generously Underwritten by:
IADA's First Choice in P & C Insurance!
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UPCOMING EVENTS:
Red Flags Rule Effective AUGUST 1st
2009 NADA Washington Conference, Tuesday, September 15, and Wednesday, September 16 |
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NADA's list of 
