March 2013 Independent Dealer Magazine

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FIADA's March 2013 Issue of Independent Dealer Magazine

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  • March 2013 Independent Dealer 1 www.fiada.com

    Information and Insight for Florida Used Car Dealers

    SINCE 1940

    A Publication of theFlorida IndependentAutomobile DealersAssociation

    March 2013

    PRST STD

    U.S. POSTAGE

    PAID

    FULTON, MO

    PERMIT NO. 38

    www.FIADA.com

    6 UNLOCK THE POWERFIADA IS YOUR NUMBER ONE BUSINESS RESOURCE

    20 LEGISLATIVE UPDATETHE LATEST ON FIADASSURRENDER STOP BILL

    FIADA is all about representing your business, on your issues facing your industry. We need your voice to make it happen. Join us today.

  • PAID ADVERTISING www.fiada.com2 Independent Dealer February 2013

    PAID

    ADV

    ERTI

    SING

  • March 2013 Independent Dealer 3 www.fiada.com

    DealerIndependent

    MAILING ADDRESS 1840 Fiddler Court Tallahassee, FL 32308 TELEPHONE (850) 385-2712 (800) 237-0448 FAX (850) 385-3251 WEBSITE www.FIADA.com

    EXECUTIVE COMMITTEE Christopher Leedom President

    Dino Mercurio Senior Vice President

    Brandi Noegel Chairman of the Board

    David Cox, CMD Secretary

    Paul Matton Treasurer

    Frank Fuzy Regional Vice President

    George Hickey Regional Vice President

    Steve Marbais, CMD Regional Vice President

    Jim Winterick, Sr. Regional Vice President

    Jim Winterick, Jr. Regional Vice President

    FIADA STAFF Lisette Mariner Executive Director

    Terry Myers Educational Instructor

    Sarah Langley Administrative Director

    Nicole Lee Development Administrator

    Amelia Tillman Administrative Assistant

    Christy Taylor Editorial/Advertising

    POSTMASTER:Send address changes to

    FIADA 1840 Fiddler CourtTallahassee, FL 32308

    (850) 385-2712 Toll Free: (800) 237-0448Fax (850) 385-3251 www.FIADA.com

    The Independent Dealer is a publication of:Florida Independent Automobile

    Dealers Association,1840 Fiddler Court, Tallahassee, FL 32308

    The magazine is published every month inTallahassee and distributed to Florida new, used,

    wholesale and lease/retail car dealers.Advertising rates are available upon request.

    The statements and opinions expressedherein are those of the individual authors and do

    not necessarily represent the views of Independent Dealer or the Association. Likewise, the

    appearance of advertisers, or their identification as members of FIADA, does not constitute an

    endorsement of the products or services featured.

    ContentsMarch 2013

    For members of the Florida Independent Automobile Dealers Association

    C O LU M N S & F E AT U R E S

    4 Presidents Message Christopher Leedom

    6 Executive Directors Message Lisette Mariner

    8 Dealer Membership Application We cant do it without you! Join the FIADA now.

    10 Membership News New, Renewing and Rejoining Members

    12 Knowing When to Walk Away Passing on lender fees to customers can be a legal gamble. FIADA General Counsel Rob Sickles explains why it is not a good idea.

    16 All Sales Tax Credits Are Not Created Equal Auto Dealers have a different set of rules to follow when it comes to getting a sales tax credit for repos, skips and bad debts. CPA Jorge Martinez points out the differences.

    20 Legislative Update FIADA Lobbyist Sandra Mortham

    22 Its Renewal Time, Again Important information from the Bureau of Issuance Oversight, Division of Motorist Services for all dealers wishing to renew their license.

    28 2013 FIADA Annual Convention & Trade Show Make plans now to attend the premier event for Floridas independent dealers. Get a head start by sending in your registration now.

    U P C O M I N G E V E N T S

    April 19, 2013FIADA Town Hall Meeting 10am -2pmPalm Beach Gardens, FL

    October 17-20, 2013FIADA Annual Convention & Trade ShowDisneys Coronado Springs ResortLake Buena Vista (Orlando), FL

  • 4 Independent Dealer March 2013 www.fiada.com

    F R O M T H E P R E S I D E N T

    But wait, theres more!

    BY CHRISTOPHER LEEDOM, FIADA PRESIDENT

    For 89 cents a day you can have a team of professionals and peers working on your behalf to make your business run more efficiently and protect your livelihood.

    What if I told you for 89 cents a day you could have a team of professionals and peers working on your behalf to make your business run more efficiently and protect your livelihood? This team would help keep you abreast of the latest industry news and regulations and answer questions about advertising issues, employment and tax law and provide in-depth education on how to be a successful dealer.But wait, theres more!

    Also, this 89 cents a day would also result in more than $10,000 in savings on everything from auction buy and sell fees to advertising discounts to Twenty Group and other consulting services and much, much more!

    Keep in mind, this 89 cents a day goes beyond the people working for you at the state level. You will also have a

    team of professionals out working on your behalf at the national level in terms of dealer-advocacy. You will have political action committees and lobbyists working at the state and federal level as well and other PACs and lobbyists working in other states all with the interests of the automotive retail professional as a core value.

    But wait, theres more!

    This 89 cents a day will also get you discounts on cell phone service, overnight delivery services, a prescription

    drug discount, free subscriptions to national and state industry trade publications, access to nationwide skip tracing and, of course, much, more more! There is even a convention you can attend for a small additional fee of 65 cents a day!

    I could go on for another 10 paragraphs, but by now Im sure you understand that by joining the Florida Independent Automobile Dealers Association (FIADA) and by extension the National Independent Automobile Dealers Association it is worth far more to you than 89 cents a day. As this years FIADA President I have worked closely with our staff and lobbyists and with fellow dealers who have graciously donated their time to improve our industry and work toward making things better for dealers across this state. I challenge you to explain why it is not worth 89 cents a day to be a member of the strongest peer group you will find in our state!

    In addition to all of these benefits the FIADA is at the forefront of advocacy for our livelihood. This issue is going to all registered dealers in the state of Florida. Not just FIADA members. This is our chance to share with you why you should join our ranks of membership and what we all do

    each and every day to protect our livelihood.

    I personally ask you to join FIADA today by either going online to www.FIADA.com and clicking on the Membership/Join FIADA Now! Tab, calling the office at (800) 237-0448 or using the membership application on page 8 of this magazine and either faxing it to (850) 385-3251 or mailing it to: FIADA, 1840 Fiddler Court, Tallahassee, FL 32308. It cant get any easier than that.

    Good luck and have a great month!

    Vehicle Service Contracts I GAP Coverage I Credit Insurance I Lifetime Engine WarrantyLimited Warranty I Dealer Participation Programs I F&I Training I Advanced F&I Technology

    Contact Protectives Florida representative, Chris Behrens at 866 452 7335

    A National Corporate Partner has met stringent NIADA criteria demonstrating that it can provide valuable products and services to NIADA members. No legal partnership has been created by the granting of this status, but NIADA does receive compensation from Protective. Lifetime Engine Warranty, Limited Warranty, Vehicle Service Contracts (VSCs) and GAP are backed by Lyndon Property Insurance Company in all states except NY. In NY, VSCs are backed by Old Republic Insurance Company. GAP, Lifetime Engine Warranty and Limited Warranty are not available in NY. Credit Insurance is backed by Protective Life Insurance Company in all states except NY, where it is backed by Protective Life and Annuity Insurance Company.

    Protect Tomorrow. Embrace Today.

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    products; you offer solutions solutions that allow people to

    embrace all today has to offer by protecting their tomorrow.

    Protective provides F&I solutions that simplify the selling process

    with easy to understand products, advanced training and reliable

    customer care and claims service. We are committed to your

    profitability by serving the increasing number of car buyers that are

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    Like you, we believe in doing the right thing for the customer. Help

    your customers protect tomorrow and embrace today with F&I

    solutions from Protective Asset Protection.

    Learn more at protectiveassetprotection.com/brand

    We offer more than products. We offer solutions.

  • March 2013 Independent Dealer 5 www.fiada.com October 2012 Independent Dealer 5 August 2012 Independent Dealer 5

    Vehicle Service Contracts I GAP Coverage I Credit Insurance I Lifetime Engine WarrantyLimited Warranty I Dealer Participation Programs I F&I Training I Advanced F&I Technology

    Contact Protectives Florida representative, Chris Behrens at 866 452 7335

    A National Corporate Partner has met stringent NIADA criteria demonstrating that it can provide valuable products and services to NIADA members. No legal partnership has been created by the granting of this status, but NIADA does receive compensation from Protective. Lifetime Engine Warranty, Limited Warranty, Vehicle Service Contracts (VSCs) and GAP are backed by Lyndon Pr