Dealer News – July 2024

In today's competitive auto industry, customer education is more than just a value-added service; it's a strategic imperative that can significantly differentiate a dealership and enhance customer loyalty.

Let's explore four very basic pieces of advice to better prepare you when it comes to bankruptcy issues.

Upgrading security and monitoring it once systems and policies are in place will help keep data secure so dealers might avoid a breach.

Find out why high-quality photos are so important when viewing a vehicle display page.

Katie Polk has been appointed as the new general manager of America's Auto Auction Savannah.

While the goal of cybersecurity is to shut down data breaches and other cyber threats before they happen, the reality is you’d still be responsible for any sensitive information stolen in the event of a cyberattack.

Former used-car manager Doug Hadden tells of a dealer who sold a new vehicle to a consumer, bought it back for the same price two years later at the height of vehicle demand – and within hours resold it on his used-car lot.

Here’s our monthly article on selected legal developments we think might interest the auto sales, finance, and leasing world. This month, the developments involve the U.S. Department of Justice, Consumer Financial Protection Bureau (CFPB), and Federal Trade Commission (FTC). As usual, our article features the “Case(s) of the Month” and our “Compliance Tip.” Note that this column does not offer legal advice. Always check with your lawyer to learn how what we report might apply to you or if you have questions.

If a lender has reason to believe bank fraud was committed, the dealer could be required to buy back the deal.

NIADA dealer members, more than 80 percent who employ less than 10 employees, will be faced with considerable costs from the rule, including professional fees from attorneys and IT personnel and recordkeeping storage.

Marketing via social media presents the potential for Dark Patterns, and dealers should consider how they are employing these applications.