Mid-Atlantic Dealer News - February 2022

FE B RUA RY 2022 • M I DATLANTIC AUTO DEALERSUNITED.O R G

MID-ATLANTIC

DEALER NEWS

H I G H L I G H T I N G P E N N S Y L V A N I A • M A R Y L A N D • D E L A W A R E

FOCUS ON FRAUD:

Learn how to spot the red flags of fraud to reduce its affects

Adapting to the Market, It’s all About Perspective FTC Expands Data Security Requirements, Impacting Dealers

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Top 7 Ways Dealers Can Turbocharge Their Used Car Inventory

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MIDATLANTIC AUTO DEALERS UNITED 1501 North Front St., Harrisburg, PA 17102

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America’s Auto Auction Harrisburg

Harrisburg

We would like to thank all of our team and customers for helping America’s Auto Auction Harrisburg receive the 2021 National Operations Award from Remarketing

by Element!

Recipient of 2021 National Operations Award From Remarketing by Element

2021

CONGRATULATIONS & THANK YOU! 2 | MIDATLANTIC DEALER NEWS | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022

FEBRUARY 2022 | CONTENTS

The official magazine of the

MIDATLANTIC INDEPENDENT AUTO DEALERS ASSOCIATION

PENNSYLVANIA • MARYLAND • DELAWARE 1501 North Front St., Harrisburg, PA 17102 (717) 238-9002 midatlanticautodealersunited.org Copyright 2022 Chris Smiley - Advisor Mountville Motor Sales, Columbia, PA rcsmiley@comcast.net Noah Melamed- President Ticket to Ride Auto, Lancaster, PA nmelamed@yourttr.com Michael Brill - Chairman of the Board B&B Automotive of Fairless Hills, Fairless Hills PA 5to5cars@comcast.net Bert Straub, President - Elect 1st Choice Auto LLC, Fairview, PA bertcstraub@gmail.com John DeFilippo - Treasurer DeFilippo Bros. Motorcars, Prospect Park, PA john.m.defilippo@gmail.com Clint Weaver- Secretary America’s Auto Auction Harrisburg, Mechanicsburg, PA clint.weaver@americasautoauction.com Tom Hodges, Vice-President Tom Hodges Auto Sales, Hollywood, MD tom@tomhodgesauto.com Dan Limongelli, Vice-President Jo Dan Motors, Plains, PA jodanmotors@gmail.com Michael Mansour, Vice-President Car Connection, Inc., New Castle, PA mike@carconnection1.com Beth Melamed, Vice-President Ticket to Ride Auto, Lancaster, PA bmelamed@yourttr.com Tom Brandis • tombrandis@netscape.net Advantage Auto Sales & Credit, Quakertown, PA Lisa Cohowicz • lisac@nepautoauction.com North East Pennsylvania A/A, Scranton, PA Jeff Dreier • dreierauto@hotmail.com Dreier Auto Sales, Shavertown, PA April Hollobaugh • ajautosalestitusville@gmail.com A&J Auto Sales, Titusville, PA Kevin Luring • k.luring@yahoo.com Garden Spot Auto Auction, Ephrata, PA James Makia • james@exclusivemotorcarsmd.com Exclusive Motorcars, Randallstown, MD Dan McNamee • dtlcars@aol.com Daniel Thomas Auto Sales, Croydon, PA Gregg Pachik • gregg.pachik@manheim.com Manheim Philadelphia, Hatfield, PA Kerri Rotunda • kerrir@corryade.com Corry Auto Dealers Exchange, Corry, PA

FEATURES 4 | Focus on Fraud Point Predictive reports lenders saw record levels of fraud in the past year. Learn how to spot the red flags of fraud to reduce its affects.

6 | FTC Expands Data Security Requirements, Impacting Dealers At the end of October, the Federal Trade Commission (FTC) announced its expansion of the Safeguards Rule to better protect consumer financial information from cyberattacks and security breaches. Here are five things you need to know.

8 | Kontos Kommentary 2021 Year-End Kontos Kommentary: Current Used Vehicle Market Conditions 10 | Ready, Set, Poised for Success Having the mentality of “do it now,” instead of “it can wait until later” is what separates the real pros in this business. When you are prepared and have your life dialed in, in all aspects, you are more likely to win — and win big.

14 | Fraud Against Car Dealers Has Never Been More Prevalent Fraud experts are advising dealerships to detect and prevent fraud schemes involving misrepresentation on the loan application. A dealership’s business could depend on it.

16 | Top 7 Ways Dealers Can Turbocharge Their Used Car Inventory Dealers who build a used inventory strategy can now use it as a backbone of their success moving forward.

20 | A Fond Farewell Letter, Looking Back & Looking Forward

By Reg Evans, Outgoing Midatlantic Regional Independent Auto Dealer Association Executive Director

DEPARTMENTS 2 | 7 |

18 | 22 |

Auction Directory Advanced Issuing Agent Training Course Schedule 22 | Membership Application 24 | Order Form for Dealership Supplies (PA & MD)

Message from the President: Adapting to the MarketIt’s all About Perspective Legal Feature: Rep. Lynda Schlegel Culver introduces House Bill 2064 q

MIDATLANTIC INDEPENDENT AUTO DEALERS ASSOCIATION SPONSORS

George Smouse • gasmouse@zoominternet.net Smouse Trucks & Vans, Mt. Pleasant, PA Steve Worley • worleymotors@hotmail.com Worley Motors, Enola, PA Jay Zimmerman • jay@zimmermansauto.com Zimmerman’s Auto Sales, Mechanicsburg, PA WOULD YOU LIKE TO RECEIVE A DIGITAL EDITION OF THE MIDATLANTIC DEALER NEWS MAGAZINE? Email shannon@piada.org

MIDATLANTIC DEALER NEWS | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022 | 1

q PRESIDENT’S MESSAGE

NOAH MELAMED PRESIDENT MIDATLANTIC REGIONAL IADA OWNER, TICKET TO RIDE AUTO SALES FINANCE & ACCEL AUTO LANCASTER, PA There continues to be perplexing challenges that can be appreciated across our industry, and significant measures that we must take to overcome them. In this light, I’d like to provide a little of my own perspective as a dealer in the current climate. I operate a 100% buy here pay here operation in Lancaster, PA. I won’t pretend to have the same view of the business as some of my friends who operate retail or wholesale lots throughout the tristate area.

Something that we can all relate to is driving down our local car row and seeing empty lots.

Adapting to the Market: It’s all About Perspective remained the same. The surges we saw in down payments and collections have ended with the expiration of stimulus funding.

Customers are also opting to receive their child tax credit throughout this year.

Although many of us are expecting higher returns this tax season, they may be reduced due to the reduction of this credit. We need to ask ourselves if we’re willing to take on the additional risk of selling a more expensive vehicle, with less up front from the customer, and to float that risk for an extended term.

This means paying more for vehicles, putting more money into them in our shops, and buying vehicles that were once outside of our comfort zone. For me, that has meant looking at different makes, model years, mileage, and avenues to acquiring vehicles.

If we don’t adapt to market conditions, and instead expect them to adapt to us, we’ll soon be out of business.

Beyond inventory and deal risks, we also have added regulatory pressures with which to contend. A strengthening CFPB, FTC and state AG are always on our mind. I am thankful these state and federal watchdogs are open to dialog with our industry and a transparent rule making process, but the confluence of oversite and market conditions is forcing us to be more strategic than ever in updating our technology, marketing and overall business model. During times like these, it’s so important to keep your ear to the ground to make sure you are operating within the law and to support organizations like NIADA and MARIADA, who are in the state and federal capital discussing the interests or our industry with lawmakers in order to prevent legislative overreach.

As a buy here pay here dealer, the changes in market conditions make us look deeper into how we finance these deals. Although our ACVs have gone up, down payments and the credit quality of our customers has

The employment market has had an unprecedented effect on our ability to find and keep good team members. With McDonalds now offering a starting rate of $16 an hour, and local manufacturers bringing people on

In a world where everyone’s a used car dealer, we need to adapt to the market to fill our lots.

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at $22 an hour, it’s become that much more expensive to keep good people. This requires shifting focus to having a lean operation and giving our employees a pleasant and enriching workplace. This will be a key to success in 2022.

Given these factors, will we continue to grow as we have over the last several years (COVID-19 shutdowns aside)? The demand for our services is there as long as we have the inventory. However, is the additional risk and capital necessary to sell in this environment worth the expansion of our portfolios? Opinions are split among my friends in the industry. Many say that if you have a sound underwriting process and a strong collections team the risk is minimal and they are going all in on these high-priced vehicles. While others have scaled back their operations to simply maintain their portfolios, sell enough to stay even while buying smart and underwriting cautiously.

Regardless of your strategy, if you continue to stay informed, focused, and adaptable to changing conditions you are going to be OK. The past two years haven’t been easy, but they have led to great success for many of us. My focus for the year is to continue to provide quality vehicles that I stand behind and to do everything I can to keep my customers on the road. In my experience, this is what keeps our best customers coming back again and again. Sticking to these core values makes navigating this environment far more manageable. t

MIDATLANTIC DEALER NEWS | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022 | 3

Focus on Fraud

By Ronnie Wendt, Owner of In Good Company Communications and an editor at F&I and Showroom “We track fraud year over year, and there’s been $1.78 billion in fraud this year, “says Frank McKenna, chief strategist for Point Predictive. “That’s a huge number, and it’s never been higher.”

He bases his sentiment on years of data.

The San Diego-based machine learning company built an auto lending fraud consortium in 2017 to share best practices in fraud prevention. Today, the firm tracks auto lending fraud 24 hours a day, seven days a week. The data they receive from dealerships and lenders helps the company gauge industry fraud and identify red flags for fraudulent activity.

And its annual survey, now in its fourth year, examines fraud sentiments among lenders and dealers. The survey measures consumer loan fraud exposure and asks risk management executives for their perspective. The survey asks consortium lenders, based on anonymity, to identify the schemes, attacks and loss exposure they currently face and the ones they predict for the future.

McKenna shares what the survey identified as fraud trends, including income forgery and employment misrepresentation, and dealer-perpetuated fraud.

PANDEMIC AFFECTS Point Predictive asked respondents how the pandemic affected risk and got some surprising results.

Though the pandemic took a toll on many markets and industries, most prime auto lenders didn’t perceive any change in fraud risk from the pandemic. Further, just 58% of subprime lenders reported a significant uptick in risk from the pandemic.

4 | THE FRONT ROW | WSIADA.COM FEBRUARY 2022

Still, the pandemic had some affects. For instance, fraudsters took advantage of wearing masks. “They found they could go into dealerships and remain anonymous,” McKenna says. “With their masks on, you could not identify them in security footage.

I think that’s why theft increased. Fraudsters felt more emboldened.”

Dealers that couldn’t open during shutdowns also began delivering cars for test drives, widening fraud risks. Fraudsters asked to have a vehicle delivered to their apartments. They would stand outside, share their driver’s license, and sign paperwork. “Then they drove off and were gone forever because they didn’t really live there and had a fraudulent driver’s license,” McKenna says.

Point Predictive also relates in its report that “many affects from the pandemic for lenders lie ahead but have not yet been felt.”

WHY FRAUD INCREASED Why did fraud increase last year?

The survey identified the top reason as misrepresentation of income and employment. Of the lenders who responded, over 70% of them believed that at least 5% or more of the paystubs they reviewed misrepresented income.

These misrepresentations increased lender exposure to fraud, reports McKenna.

He explains fraudsters go to websites to create fake pay stubs and print them off. “You can make it look like you work anywhere and make any income you want, and it looks like a real ADP pay stub,” he says. “We saw fake pay stub fraud double last year.”

The reasons, he says, include increased unemployment in 2020 as people got laid

off, furloughed or quit. “But many still wanted cars,” he says. “So, they had to fake their incomes.”

Synthetic borrowers also increased.

Borrowers once stole identities to purchase cars fraudulently. Now they create fake identities using information from many people. They establish a credit history for their fake identity over time until they can trick lenders into giving them a loan.

“People use synthetic identities to get fake driver’s licenses. When they build up enough credit, they buy a car from a dealership and are never seen again,” he says. “This costs dealers and lenders about $1.2 billion a year.”

The third growing problem involves credit repair companies. McKenna explains these firms help consumers wipe out their poor credit. “They obliterate their negative credit history and leave them with pristine credit,” he says. “Then they give the borrower a pay stub from a fake employer so they can go out and buy a car.”

Point Predictive operates a fraud team to spot these activities. So far, the firm has identified around 5,000 fake employers tied to fraud rings and hundreds of millions of dollars in fraud.

HOW BIG A THREAT? The survey identified that most lenders view fraud as a moderate to serious problem for their organizations. Yet it also found 39% of lenders and dealers do not track the full impact of fraud and misrepresentation.

“A lot of dealers think this fraud will not happen to them,” says McKenna. “But if you do the math, conservatively one out of every 200 applications may have fraud on it.

So, one out of every 200 cars they sell may involve fraud. And our analysis suggests they will have to sell 10 more cars to make up for that loss.”

McKenna says lenders and dealers often do not look for or ignore fraud. “If you bury your head in the sand, it still occurs.

It’s just not classified as fraud,” he says. A buyer may use a synthetic identity to buy a car, then never make a payment, but the lender classifies it as a loan default. They try to repossess the car and cannot find it, so they write off the loan.

Of the firms that track fraud, many do so haphazardly. Someone takes a call from an individual who says there’s a loan on my credit report that I never applied for. But the person taking the call never shares the information. “It’s not that they don’t track it, but they’re not recording it in a central location,” McKenna says. “So, no one else knows about it.”

He adds, “Every lender has some fraud so they should track it.”

HOW TO RESPOND “We are trying to raise awareness that fraud is increasing, and you may get hit with it in 2022,” he says. “We need dealers to know that fraud exists, so they train their staff and their finance managers what to look for.”

McKenna then offers suggestions to help dealerships reduce fraud.

“Trust your gut instinct,” he says. “If someone walks into your dealership and doesn’t look like the normal type of consumer, pay attention.”

Red flags may include a consumer who wants to buy a vehicle very quickly. They know the exact make and model they want, but do not haggle price and want to complete a sale within the hour. McKenna recommends, “Slow the transaction down.

If it is too good to be true, it probably is.”

He recommends asking additional questions. This often sends would-be fraudsters out the door. “A true consumer, motivated to buy a car, will take time to answer all questions,” he says.

Check and double check driver’s licenses, he adds. Too often dealerships accept a driver’s license on face value, never thinking to check if it’s fraudulent. They just photocopy the license and put it in the loan file.

McKenna recommends purchasing an ID checking guide. These guides contain pictures of state driver’s licenses and share how to determine validity. Many drivers’ licenses have UV security. Dealers can purchase a UV flashlight to check IDs. Finally, McKenna recommends asking for a Social Security card and double checking whether insurance paperwork is legitimate.

He also warns to watch for straw borrowers.

These borrowers are car buying mules who purchase cars for theft rings. “Fraudsters recruit vulnerable people to buy cars for them,” he says. “Then that person turns over the car to them for a few thousand dollars. Fraudsters put the car into a shipping container and sell it in another country. And the victim is on the hook to pay for the car.”

McKenna reports these victims often come in with someone who coaches them through the transaction. “That’s a big red flag,” he says.

Finally, he advises not to take pay stubs on face value. Validate the pay stub. Make sure the employer exists and that the person in question works for them.

And when fraud occurs, notify the police immediately. Law enforcement will open an auto theft case, help recover the car, and prosecute the case. “It will not be 100% effective because a lot of cars end up overseas, but it can help,” he says. “However, you’re better off preventing fraud in the first place.” t

Point Predictive reports lenders saw record levels of fraud in the past year.

Learn how to spot the red flags of fraud to reduce its affects.

THE FRONT ROW | WSIADA.COM FEBRUARY 2022 | 5

compliance feature

FTC Expands Data Security Requirements, Impacting Dealers

By Robert Ebin, Esq. and Emily Hartman

At the end of October, the Federal Trade Commission (FTC) announced its expansion of the Safeguards Rule to better protect consumer financial information from cyberattacks and security breaches.

The amended Rule’s most significant requirements will take effect one year from the date it’s published in the Federal Register, which means dealers will need to comply likely by the fourth quarter of 2022.

Here are five things you need to know.

Rule Expands Data Security Requirements for Written Programs For background, the FTC created the Safeguard Rule as part of a directive from the Gramm-Leach-Bliley Act. The Safeguard Rule has been around since 2003, directing financial institutions, which includes dealerships that extend credit and lease terms, to develop and implement a written information security program.

The updated Rule includes much more detail about the required elements that must be included in an information security program, like addressing access controls, data inventory and classification, encryption, secure development practices, authentication, information disposal procedures, change management, testing, and incident response.

Identify One Qualified Individual to Oversee Data Security The previous Rule allowed “an employee

or employees” to take responsibility for the information security program, but the new rule requires only one “Qualified Individual.” This person must write an annual status report and provide it to the board of directors or the business’s governing body. The report must cover overall status updates of the program, compliance, and all security breaches or events that occurred in the past year.

If You Have Less Than 5,000 Customers, You Could Be Exempt From Some Requirements There is an included exemption for financial institutions that collect data on less than 5,000 customers. These organizations are exempt from certain requirements, including the written risk assessment, incident response plan, and submitting the report to the Board of Directors.

The Definition of Financial Institution Is More Expansive The Safeguard Rule applies to any financial institution, which includes dealerships that extend credit and lease terms. The updated Rule now includes any organizations participating in activities that the Federal Reserve Board identifies as incidental to financial activities. This change brings “finders,” or companies that bring together buyers and sellers, under

6 | MIDATLANTIC DEALER NEWS | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022

the Rule. Additionally, several other definitions were directly added to the Rule from the Privacy of Consumer Financial Information Rule.

Open Comment Period: Should Organizations Report Large Data Breaches to the FTC? On top of the updates, the FTC announced a 60-day open comment period regarding whether or not the Safeguard Rule should be further amended to require financial institutions to report to the FTC any data breaches or other security incidents that impact 1,000 or more customers’ information.

What Should You Do? Continue to monitor for more information from the FTC. Seek out your legal counsel to review your current policies and procedures, help determine what changes you’ll need to make, and figure out how you’ll make them in the coming year.

KPA is Here to Help If you use KPA’s Vera F&I software and services, our customer information security training and consultants are here to help ensure you and your employees understand these changes and how they impact your business. Our Cybersecurity Training Package can help educate your employees on what to look for and prevent a data breach before one occurs. t

q LEGAL FEATURE

uRep. Lynda Schlegel Culver

introduces House Bill 2064 -

Modifying the Process for Impound and Salvage Vehicles

By Erik A. Ross, Senior Associate, Milliron & Goodman State Rep. Lynda Schlegel Culver has introduced House Bill 2064, which was referred to the House Transportation Committee on November 9, 2021.

ERIK A. ROSS, SENIOR ASSOCIATE MILLIRON & GOODMAN Erik Ross brings over 30 years of experience in state government and lobbying to Milliron Goodman.

He specializes in state government relations with a focus on transportation, energy, environmental, and public utility issues in one of the most innovative regulatory environments in the country. His duties include lobbying members and staff of the Pennsylvania General Assembly, executive departments, and regulatory agencies on behalf of clients.

In addition, he serves as a liaison between clients and state government officials and assists in the drafting or amending of legislative and regulatory proposals.

Erik’s public sector experience includes positions as Research Analyst to the Chairman of the Senate Majority Policy Committee and Senate Environmental Resources & Energy Committee; and Legislative Assistant and Executive Assistant to the Pennsylvania Senate Majority Whip Mike Fisher from 1989 to 1993.

His duties included management legislative/policy development; drafting legislation, amendments, and correspondence; assisting the Majority Whip on the Senate floor; and assisting the Senate Majority Leader’s staff on caucus-related projects.

SUMMARY OF HOUSE BILL 2064 The purpose of this legislation is to notify vehicle lienholders or lessors in a timely manner of the impoundment of a vehicle with their lien on it, and to allow the lienholder or lessor to recover the vehicle in a reasonable expeditious and unencumbered manner.

Currently in Pennsylvania, about 1,000 vehicles per month get hung up or go missing without notification to the lienholder or lessor.

Moreover, the legislation will allow lienholders and lessors an opportunity to prevent vehicles from being perpetually impounded and incurring storage fee costs by incorporating a process into law that enables an individual to get limited access to lienholder and lessor information so they can quickly determine if a vehicle can be crushed, scrapped, or sold at auction or if they need to contact the owner, lienholder, or lessor to notify them of the situation.

In addition, requiring lienholder or lessor notice will prevent “borrowers” who are not paying their car loans or leases from selling a liened or leased vehicle to a crusher or salvage dealer and having the vehicle crushed in exchange for cash.

Finally, this legislation provides the appropriate balance between ensuring lienholders and lessors can recover their vehicle collateral while not placing an undue burden on individuals in possession of the vehicle.

BACKGROUND While the state Department of Transportation (PennDOT) strives for a less than a 2-week turnaround period to obtain a title, which is required under current law before a vehicle can be crushed, scrapped, or sold at auction, one of the problems is the accumulation of storage fees and fines during that 2-week period (or longer) before a lienholder or lessor is notified.

Another problem is that salvors or scrapper may believe they have legitimately obtained a vehicle and are simply waiting for a clean title from PennDOT. If they jump the gun and scrap or salvage the vehicle before receiving a clean title from PennDOT in a timely fashion, there is little recourse for the lienholder or lessor since going to civil court for a $5,000 vehicle does not make sense because the court costs will overtake the loss of the vehicle.

CONCLUSION House Bill 2064 provides a timelier process to notify lienholders without running up big bills that cost the dealer, salvor or scrapper while waiting for verification. It also increases penalties for non-compliance to hold everyone accountable. t Milliron & Goodman will keep you apprised of any activity related to this bill by the House Transportation Committee.

MIDATLANTIC DEALER NEWS | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022 | 7

KONTOS KOMMENTARY

2021 Year-End Kontos Kommentary: Current Used Vehicle Market Conditions

By Tom Kontos, Chief Economist, KAR Global Summary Average wholesale prices softened modestly through year-end after reaching new highs in early November. Nevertheless, prices remained dramatically higher than yearago and pre-pandemic levels, as demand continues to outstrip supply.

Chart 2

Retail used vehicle sales and CPO sales also softened at year-end, but were solid on a full-year basis and may have been stronger if used vehicle supply was more plentiful.

Details According to KAR Global Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model class, wholesale prices in November averaged $16,163 — down 0.9% compared to October, up 32.9% relative to November 2020, and up 48.0% versus pre-COVID/ November 2019, as seen in the table below.

(See Chart 1.)

2020, and up 48.1% versus pre-COVID/ December 2019, as seen in the following table: (See Chart 2.)

Wholesale prices in December averaged $16,026 — down 0.8% compared to November, up 34.8% relative to December

The year-end price moderation generally affected all model classes equally but left prices for all segments well above year-ago

Chart 1

and pre-pandemic levels. The same can be said when holding constant for sale type, model-year-age, mileage, and model class segment — using criteria that characterize off-lease units — for midsize cars than for midsize SUV/CUVs, as seen in the following table: (See Chart 3.)

The following graph shows trends in average prices by major vehicle type and in total by week during 2021 through January 2, 2022, using the same criteria: (See Chart 4.)

Overall average prices ended 2021 more than 45% above pre-COVID averages for this select group of vehicles, despite some general softening in the last few weeks of the year.

Based on NADA data, retail used vehicle sales by franchised and independent dealers in November (latest available) were down 7.9% month-over-month but up 11.4% yearover-year. Year-to-date through November, sales were up 9.7% versus 2020 and up 1.9% compared to 2019/pre-pandemic levels.

8 | MIDATLANTIC DEALER NEWS | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022

Disclaimer: The views and analysis provided herein relate to the vehicle remarketing industry as a whole and may not relate directly to KAR Global. The views and analysis are not the views of KAR Global, its management or its subsidiaries; and their accuracy is not warranted.

Chart 3

CPO sales fell 16.5% month-over-month in November and recovered only modestly (up 2.5% m/m) in December, according to figures from Autodata. CPO sales on a year-to-date basis through December, were up 5.1% compared to 2020 but down 2.5% versus 2019. t

Source: Analysis is based on over seven million annual sales transactions from over 250 of the largest U.S. wholesale auto auctions, including those of ADESA as well as other auction companies. KAR Global Analytical Services segregates these transactions to study trends by vehicle model class, sale type, model year, etc.

Tom Kontos is Chief Economist, KAR Global, parent company of ADESA. He has over 25 years of experience in the wholesale vehicle remarketing industry and is a pioneer in the analysis of used vehicle market trends. In this role, he interfaces with members of the media, Wall Street, and automotive analysts, dealers and key KAR Global clients to provide information and insight on economic trends in the vehicle remarketing industry, of which KAR Global is a leading player. Mr. Kontos is a Washington, D.C. native who grew up in the Maryland suburbs and earned his Mineral Resource Economics degrees at Penn State University. tom.kontos@karglobal.com.

Chart 4

MIDATLANTIC DEALER NEWS | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022 | 9

Ready, Set,

Poised for

Success

By Justin B Gasman, Financial Services Director at McCaddon Cadillac Buick GMC

Maybe it’s a strange Type-A personality trait that I have, or perhaps I’m just an old soul who is hard to explain. Either way, I like things “topped off.”

Who doesn’t?

For instance, right after I make my coffee in the morning, I pitch the grinds and immediately grab my smart water and start filling up the 48oz reservoir on my Keurig so that the next cup is ready to go, even though I could let it get low and then run out of water. I also do the same thing with washer fluid. I don’t always need it, however, when I get a chance to top it off at the dealership or a gas station, I do. Not because it is needed right then, but because the last thing I want is to find myself in a situation where I need something I don’t have that could have been prevented by paying attention and taking action earlier.

The same concept can be applied in the business office. How many times have you been in the middle of a busy Saturday, are about to spin your fifth deal, have three

waiting, and while completing a deal for a customer, you look down at the printer under your desk and realize the temporary permit forms you are waiting for are pending because you are out of paper?

Spending the extra few seconds at the beginning of each day to properly prepare ourselves for activities that are to come, eliminates the downtime of “topping off ” the printer.

I like to always make sure I am prepared for whatever is to come. This isn’t always possible in every situation. However, I feel that if you are being faithful in the ordinary, you can achieve more greatness each day by paying attention to the little details that really do matter. It allows you to traverse the day with more confidence and less aggravation.

When you are constantly on top of everything that is asked and required of you during the day, it makes new requests and favors easier to say yes to without added stress. When you know that you need to have your monthly numbers updated for a manager meeting on Wednesday morning, but you have time to do it each day, wouldn’t

10 | MIDATLANTIC DEALER NEWS | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022

you’d rather spend three minutes updating a report daily rather than spend 30 minutes once a week working on the same thing?

Why? Because on the off chance the owner wants to move the meeting up, instead of scrambling, stressing, and suffering with the task, you can breathe easy and know that you need three minutes to be ready or, better yet, you are ready.

Having the mentality of “do it now,” instead of “it can wait until later” is what separates the real pros in this business. When you are prepared and have your life dialed in, in all aspects, you are more likely to win — and win big. The feeling of being ready for whatever happens to you each day is a feeling of confidence allowing you to have a better attitude and a more stable approach at the daily tasks and interactions with others. I encourage you to look around your life – at home and the store — to find ways to be more proactive and look for things to “top off.” My guess is once you try it my way, you’ll enjoy the results so much, you’ll adopt this as your approach for being ready, getting set, and poising towards continued improvement and success. t

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MIDATLANTIC DEALER NEWS | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022 | 13

Fraud Against Car Dealers Has Never Been More Prevalent

By Frank McKenna, Co-founder and Chief Fraud Strategist for Point Predictive

Auto loan fraud in the U.S. is already a big problem, and it continues growing. Point Predictive estimates that approximately $7.8 billion in car sales will be completed and financed with loans containing misrepresentation on the application.

one fraudulent loan per year. On average, dealerships can expect one fraudulent loan out of every 200 loan applications that they submit to lenders. Some dealers know this already, but those who don’t should do the math and acknowledge the risk.

That is a really big number. It’s the highest estimated loss exposure that the industry has faced since Point Predictive began tracking auto loan fraud. And it’s more than double the loss that the industry was exposed to only 10 years ago. (See chart below)

One fraudulent loan application out of every 200 might sound like a small number.

But consider the extraordinary cost of that fraudulent loan application for the lender. The average funded loan containing fraudulent information, if pushed back to the dealer, represents a loss of at least $21,000. Because the dealer’s portion of the profit on a car is often only a couple thousand dollars, it takes a dealership 10 additional sales to make up for the cost of that fraudulent loan.

Unfortunately, many car dealers across the U.S. are bearing the brunt of that fraud since some lenders force buybacks after discovering that the loan application contained fraud.

That’s why fraud experts are advising dealerships to detect and prevent fraud schemes involving misrepresentation on the loan application. A dealership’s business could depend on it.

Recovering From Fraud Is Painful and Costly for Dealerships Recovering from an instance of fraud can be painful for dealerships. Statistically, most U.S. car dealers will source at least

Dealers don’t want fraud. The bottom line is that it hurts your business.

them exposed to potentially thousands of dollars in risk exposure.

There are five types of fraud that dealerships can be liable for: •

• • •

•

Many Ways You Can Be Targeted by Unscrupulous Borrowers and Fraudsters Point Predictive tracked fraud loss exposure across more than 100 million car loans, and we found that dealers are targeted by a plethora of crafty fraud schemes.

Interestingly enough, most dealerships only focus on preventing a single type of fraud: identity theft. This narrow focus leaves

Identity fraud. Borrowers provide stolen identities or “create” new synthetic identities to fraudulently finance the vehicle.

Income fraud. Borrowers lie about their income.

Employment fraud. Borrowers lie about where they work, how long they have worked, or even their job title.

Straw borrower fraud. Borrowers act as a front for the real purchaser of the car and then deliver the car to someone else.

Collateral fraud. Finance managers or salespeople report a range of additional options, services, or trim levels on the vehicle that aren’t actually on the vehicle. This is typically done to secure more financing for the applicant than she or he would actually qualify for if the financed amount was lower.

These 5 Rising Fraud Schemes are Causing More and More Losses

The pandemic changed a lot of things in the auto industry. That is particularly true when it comes to fraud. As the behaviors of car shoppers changed, fraudsters adjusted their own behaviors to take advantage.

These days, the car buying experience has become a predominantly online, digital transaction, while the time spent in a dealership has been more limited.

Here are fraud schemes that dealers need to be aware of: •

14 | MIDATLANTIC DEALER NEWS | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022

Fake Employment. The use of fake employers on credit applications has risen 400% since the pandemic began in March of 2020. “Fake” employment is often a service sold to borrowers on the margins of credit eligibility by services offering “credit repair.” These services arm the borrower with forged

paystubs and a phone number used for the purposes of fraudulently verifying employment to the lender. Often this phone number actually works, and naturally the individual answering the phone convincingly “confirms” employment as expected.

Over 100 new fake employers are being discovered by Point Predictive’s fraud analysts each week, amounting to millions of dollars in attempted fraud against dealers and lenders.

•

•

Stolen, fabricated, and difficult to verify identities are used in fraudulent ways. Identity fraud and creation of synthetic identities is soaring in auto lending. By all accounts more than $1.2 billion in loss exposure will cross lenders’ desks this year. But this year there’s a twist — the fraudsters are using face masks to hide their identities during an instore interaction, leaving quickly and having cars delivered to them at deadend locations where they can never be traced.

Straw borrowers are buying cars to covertly sublease them. The pandemic forced many dealerships to temporarily shut down or significantly limit their activity and inventories. At the same time, many rental agencies sold off portions of their fleets. This allowed peer-to-peer platforms such as Turo to thrive. Services like Turo continued to offer renters a diverse selection of vehicles for short-term rental with an elegant customer experience and lower

rental rates compared to traditional rental agencies.

But that has also resulted in a sharp spike in straw borrower fraud.

Borrowers looking to cash-in are using straw borrowers to help them fraudulently finance vehicles, which are then listed and rented on Turo for profit to the fraudster.

•

Did we mention paystubs? Some lenders are reporting that up to 40% of the paystubs they receive from some dealerships are forged or altered. But it certainly isn’t a problem limited to shady dealers. On average, even the astute dealership will still receive one fraudulent paystub out of every 12 paystubs submitted by an applicant. Suspicious documentation is becoming far more prevalent, and every dealership needs to protect against it.

2.

3.

5 Ways to Protect Your Dealership from Fraud Just because fraud has risen dramatically, it doesn’t mean your dealership will be specifically targeted. Even dealerships that protect themselves will need to fight fraud, since the nature of these attacks change quickly. One of the most common ways to be victimized by a new type of fraud is to be effective at preventing older schemes.

Here are some ways you can protect your dealership.

1.

Don’t just focus on identity fraud.

Identity fraud prevention is important,

4.

5.

but it shouldn’t be the sole focus — 80% of buybacks might not be related to identity-related fraud scams.

Always check to see that the income makes sense for what you know about the applicant. Look for red flags for potential income fraud. An applicant who claims to be employed in a lowwage position should prove income that aligns with that position. Younger applicants should rarely claim income that is typical of a mid- or late-career employee. Finally, an applicant who is making a dramatic leap in the cost of their cars, such as trading in a junker for a newer model luxury or high-end vehicle should be verified to assuage the suspicion of fraud.

Check employment discrepancies.

Oftentimes a bogus paystub will have mathematical inconsistencies that become apparent upon detailed inspection. Values on the stub might not add up correctly. Bonuses, commissions, and withholdings may look distorted relative to the wages claimed. Pro tip: you can always ask an applicant to sign an IRS Form 4506T, which gives you permission to verify income that the applicant reported to the IRS. Beware of straw borrowers. Look for potential straw borrower red flags.

Straw borrowers are often coached by a co-conspirator, and certain questions, requests, and actions might not make sense.

Monitor new finance managers. If a new finance manager’s performance is too good to be true, it might not be true. F&I managers who seem able to work miracles to get even the most down and out borrower funded might be doing something extra to get those loans approved. It is crucial to monitor the process, enforce intentional risk controls, and make sure that new finance managers are keeping the dealership’s business and reputation in top shape with its lender network.

Like many challenges facing the car buying market, the problem of fraud will never go away. We expect it to continue to grow and become even more challenging to prevent.

Dealers must leverage every practical tool and technology to keep fraud at bay. t

MIDATLANTIC DEALER NEWS | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022 | 15

Top 7 Ways Dealers Can Turbocharge Their Used Car Inventory

By Christina Wofford High used car prices are not expected to dip for a while. Cox Automotive predicts it could be 2025 or later before used vehicle supply and demand return to normal.

Because of the high demand for vehicles, there is an ample opportunity for dealers to take advantage of the market.

Dealers who build a used inventory strategy can now use it as a backbone of their success moving forward.

3.

Here are the seven winning strategies top dealers are using to get more trade-ins: 1.

2.

Use new channels for advertising buyback incentives. More than 80% of U.S. households have at least one streaming subscription, and the pandemic has only increased that number, according to Deloitte’s Digital Media Trends Survey. With Amazon streaming ads, dealers can target that growing audience and leverage Amazon’s insights, including consumer shopping trends and geography, to target their ideal audience. This results in a much more targeted ad buy over cable TV or radio. Bettenhausen CDJR, in the Chicago area, uses streaming ads to promote its auto valuations and instant cash offers for vehicles. “We see strong results from the streaming ads since only people interested see the ads,” said John Doolin, Bettenhausen’s marketing director. “It’s super quantifiable.”

Target with data and conquest the competition. By leveraging their CRM, dealers are targeting consumers with older vehicles, those in need of major service repairs, and people who have indicated online they’re interested in selling their cars. Dealers are using targeted ads to geofence their competitors and promote their trade-in offers. Geofenced advertising campaigns are a great way to target customers on their mobile devices in a specific radius around a particular event, shopping area, and competitors.

Muller Honda of Highland Park, near Chicago, earned 150% ROI, 450,000-

4.

5.

plus impressions, and more than 30 trade-in requests after launching a geofencing advertising campaign. The dealership wanted to increase brand awareness, reach more consumers, and get more trade-ins during a two-day “Appraisal Palooza” campaign.

Focus on the service drive. More consumers are returning to dealerships for service and warranty work as the average age of a car on U.S. roads rose to 12.1 years in 2021, according to IHS Markit. Dealers can leverage these customers as a source of inventory acquisition. Some dealers are drafting trade-in offers while the car is in their shop. They are then approaching the customer with the request or leaving the proposal in their vehicle for consideration.

Promote offers by text message.

Only one in five emails is ever opened, but 95% of text messages are read within three minutes. Dealers are taking advantage of this by using text messaging to effectively promote trade-in offers to thousands of previous customers, especially those with the most sought-after vehicles. Sweeten the deal on new vehicle purchases with additional incentives for bringing a trade-in. Consumer text messaging is a highly effective way to reach customers.

McClinton Chevrolet in Parkersburg, West Virginia, sent out a bulk text message with an eye-catching graphic to thousands of customers offering trade-in and trade-up incentives. The text messages garnered 30+ trade-in requests and over ten appointments scheduled in the first week. “I knew a text would be the most effective way to get in front of people,” said Ginny Bowden, McClinton’s dealer principal.

Use social media to show the value of trading up. Seventy-three percent of car buyers say Facebook is the social site they use most, while 75% of car buyers say online video, such as on YouTube, influences their shopping habits. Dealers engage with their social media followers by featuring their inventory in short videos and on their Facebook business page. Dealers are

16 | MIDATLANTIC DEALER NEWS | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022

6.

7.

also communicating they are a local leader in partnering with customers to trade up to their next great vehicle.

Successful dealers make sure their social media pages are up-to-date and actively post and respond to customers on their social sites.

Launch an online buying center. To streamline the process and attract more consumers to trade-in or sell their cars, dealers are launching specific buying websites and buying centers. Dealers are giving car buyers the option to do more online than just search inventory.

Let followers book a virtual vehicle appraisal without having to come into the showroom. Consumers appreciate getting pre-qualified for credit and instantly getting matched to cars they can afford, all online. Customers love the streamlined buying process — the Amazon Effect — making it easy and convenient online.

Seek customers on eBay, Craigslist, and Facebook Marketplace. Every day, consumers post thousands of vehicles to sell on eBay, Craigslist, and Facebook Marketplace. Dealers are activating alerts on these platforms to inform them when consumers post vehicles they want to sell. Dealers are also enticing their employees with extra money and encouraging them to find cars for sale as possible new vehicles for the dealership’s lot. Every avenue needs to be explored.

Dealers who build a used inventory strategy can now use it as a backbone of their success moving forward. Inventory challenges amid the worldwide semiconductor shortage are likely not going away this year. But luckily, there are plenty of consumers who want to trade in their vehicles or sell unneeded extra cars. n Christina Wofford brings more than two decades of experience in journalism, marketing, communications, and public relations to Digital Air Strike. As the senior vice president of marketing and communications, she is responsible for all marketing and lead generation efforts, including earned media and event planning.

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ADESA PITTSBURGH 378 Hunker Waltz Mill Rd. New Stanton, PA 15672 724.925.4700 / Fax: 724.925.4701 Tuesday 9:00 AM pittautoauction.com AMERICA'S AA - HARRISBURG 1100 S. York St., Mechanicsburg, PA 17055 717.697.2222 / Fax: 717.697.2234 Thursday 8:45 AM harrisburgautoauction.com AMERICA’S AA - LANCASTER 1040 Commercial Ave., P.O. Box 406 East Petersburg, PA 17520 717.569.5220 / Fax: 717.569.3109 Weekly Sales Wed. 9:00 AM INOPS 8:30 AM americasautoauction.com AMERICA’S AA - PITTSBURGH 55 E. Buffalo Church Rd. Washington, PA 15301 724.225.1777 / Fax: 724.225.7223 Thursday 12:30 PM americasautoauction.com BLOOMSBURG AUTO AUCTION 25 Ridge Road, Bloomsburg, PA 17815 570.784.2306 Wednesday 10:00 AM bloomaa.com CENTRAL PENNSYLVANIA AA Exit 178 of I-80, Lock Haven, PA 17745 800.248.8026 / Fax: 570.726.7841 Thursday 9:45 AM Office: MTF 8-5:30 W-Th 8-6:00 cpaautoauction.com

GREATER ERIE AUTO AUCTION 7700 Avonia Road, (Exit 16 of I-90 & PA Route 98) Fairview, PA 16415-0916 814.474.3900 / 877.474.GEAA Fax: 814.474.4969 Tuesday 1:45 PM greater-erie.com LEHIGH VALLEY AUTO AUCTION 3880 Lehigh St., Whitehall, PA 18052 610.435.5554 / Fax: 610.435.5557 Wednesday 5:00 PM lehighvalleyautoauction.com MANHEIM KEYSTONE 488 Firehouse Road, Grantville PA 17028 717.469.7900 / Fax: 717.469.2842 Every Monday 11:00 AM manheim.com MANHEIM PENNSYLVANIA 1190 Lancaster Rd., Manheim, PA 17545 717.665.3571 / Fax: 717.665.9265 Exotic Highline Sales every other Thursday - 9:00 AM Every Friday Sale 8:30 AM manheim.com MANHEIM PHILADELPHIA 2280 Bethlehem Pike, Hatfield, PA 19440 215.822.1935 / Fax: 215.822.8140 Tuesday 9:30 AM TRA Sale - Tuesday 12:30 PM Office: M-Th 8:30-5:00; F 8:30-1:00 manheim.com MANHEIM PITTSBURGH AA 21095 Route 19, Cranberry Twp., PA 16066 724.452.5555 / Fax: 724.452.1310 Wednesday 9:00 AM manheim.com

18 | MIDATLANTIC DEALER NEWS | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022

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ADESA LONG ISLAND 425 Patchogue Yaphank Rd. Yaphank, NY 11980 631.205.5000 adesa.com/longIsland ADESA SYRACUSE 5930 State Rte. 31, Cicero, NY 13039 315.699.2792 adesa.com/syracuse BUFFALO AUTO AUCTION 8418 Southwestern Blvd., Angola, NY 14006 716.549.4800 deeregunner@hotmail.com MANHEIM ALBANY 459 Route 146, Clifton Park, NY 12065-0440 518.371.7500 jay.waterman@manheim.com manheim.com MANHEIM NEW YORK AA 2000 Dealer Drive, Newburgh, NY 12550 845.567.8400 / Fax: 845.567.8410 Every Thursday 9:00 AM Ford Factory Closed Sale Bi-Weekly 10:00 AM Heavy Truck & Equipment Sale First Thursday of the Month 11:00 AM manheim.com ROCHESTER’S CENTRAL AUTO AUCTION 20 Cairn Street, Rochester, NY 14611 585.328.2277 info@rochesterautoauction.com ROCHESTER- SYRACUSE AUTO AUCTION 1826 State Route 414, P.O. Box 129 Waterloo, NY 13165 315.539.5006 sprankie@rsautoauction.com rsautoauction.com STATE LINE AUTO AUCTION 830 Talmadge Hill Rd. S. Waverly, NY 14892 607.565.8151 / Fax: 607.565.8659 GM Financial Open Sale –EVERY Friday, 9:20 AM GM Financial Closed Sales as Scheduled Dealer Consignment Sale –EVERY Friday, 9:20 AM statelineauto.com WEST VIRGINIA MOUNTAIN STATE AUTO AUCTION Route 2, Box 835, Shinnston, WV 26431 304.592.5300 / Fax: 304.592.3510 Monday 10:30 AM Office: 9:00-5:00 mtstateaa.com

Work Truck Demand Rises Creating Significant Opportunity for Dealers

BY AUTODEALER STAFF

With continued strong performance of commercial truck sales, including a 15+% year-over-year increase for medium duty trucks, and a 29% increase in final mile activity, there is certainly market demand.

Commercial vehicles are used by industries that support nearly 80% of the U.S. Gross Domestic Product (GDP). Work Truck Solutions® created Comvoy, a marketplace that offers users the ability to search vehicles by vocation, backed by detailed configuration data enabling a dealer to accurately meet the demands of the commercial shopper.

Citing a 329% year-over-year lift in web leads, Kathryn Schifferle, CEO of Comvoy and Founder/CEO of Work Truck Solutions, said “It’s rewarding to see work truck and van buyers using our national locator to find the vehicles they need to run their businesses.”

In addition to web lead increases, direct calls due to searches were up 322% year-overyear, while new users jumped 133%. This growth has also attracted partners wanting to reach commercial vehicle buyers, and partner with dealerships listing vehicles. Kirk Mann, Senior Vice President and GM of Transportation Finance at Mitsubishi HC Capital America, a Comvoy partner, said “Comvoy.com is a great tool for matching commercial vehicle customers and dealers, and adding us as a financing partner is a beneficial addition to that service. Collaborating with Work Truck Solutions and Comvoy fits well with our strategy as we are committed to developing innovative solutions that support our dealer partners’ growth initiatives.”

With continued strong performance of commercial truck sales, including a 15+% yearover-year increase for medium duty trucks, and a 29% increase in final mile activity, there is certainly market demand. However, industry-wide supply shortages continue to limit production, making finding commercial vehicles difficult. Schifferle added, “Comvoy is all about making the search process as efficient as possible to really match commercial customers to the right work trucks and vans for their jobs. Comvoy also extends dealers’ reach to a national market which assists both sides of the purchase equation.” n MIDATLANTIC DEALER NEWS | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022 | 19

A Fond Farewell Letter, Looking Back & Looking Forward

By Reg Evans, Outgoing Midatlantic Regional Independent Auto Dealer Association Executive Director

Dear Members, Nonmembers, Dealers All, Wholesale Vehicle Auctions, Industry Vendors & Government Partners, I have had the honor and privilege to serve the PIADA, then the merged MidAtlantic IADA of Pennsylvania, Maryland, and Delaware, for ten years as executive director, president of the title business, licensed insurance agent, lobbyist, in house lawyer, convention chairman, and magazine editor and writer for 120 consecutive editions of the monthly MidAtlantic Dealer News. I had A LOT of help, guidance, suggestions, support, and collegial brainstorming along the way, from you, the dealers, auctions, vendors, directors and staff members.

I became involved in the PIADA 15 years ago when former executive director Phil Zulli and I had lunch and talked about the need and potential opportunity to get the document preparation fee codified into law. With leadership from Phil and the board of directors including past presidents Fran Morelli, John Kyner, Jeff Dreier, Andy Gabler, John DeFilippo, Tom Brandis, all stalwart supporters of the association, we got it done. Later, we got the doc fee increased to reflect true new costs and changes as the dealer world digitized.

My involvement with the PIADA as outside legal counsel from Shumaker Williams law firm, my then home away from home, continued when Pete Lukasiak was appointed by the board as the new executive director in 2008. Pete had tremendous national association experience and was great at connecting with government officials and key industry people to expand the PIADA’s reach and relationships. Pete was a past executive director of the National Auto Auction Association (NAAA) and past Person of the Year with the National Independent Automobile Dealers Association (NIADA). He was a mentor to me when the board allowed me the honor of becoming executive director in 2011.

Pete passed away in December 2021. He was a great friend who led the association with honor and dignity.

We have had solid boards of directors always during my term, but I should mention that it is the President who has the most responsibility and puts in the most time and effort to lead and move the association forward for the benefit of our dealers, auctions, and vendors. Presidents during my time as executive director include Steve Worley, John DeFilippo, Tad Swift, Tom Brandis, Michael Brill, Noah Melamed. I thank them and the other board members who have volunteered their time for our industry.

IADA Convention. Six years ago, these relationships made it possible and comfortable for the Maryland/Delaware IADA to merge with the Pennsylvania IADA. Special appreciation and thanks go to Tom Hodges, then president of the Maryland/Delaware IADA (MDDEIADA), and Jack Tracey, then MDDEIADA executive director, for making this merger possible and smooth. Jack passed away in 2021. Jack was a great person and he and his wife Mary Ellen Tracey were excellent to work with on our conventions.

The auctions are key. That is where we all congregate, buy, sell, arbitrate, and move metal. The energy of auction sale day is something I will always treasure. The leaders of our auctions are of paramount importance to dealer success and have contributed tremendously to association success. Thank you to these great auction folks for your support of the association over the years.

Great staff members make the world go round. You have really solid experienced people in staff leadership positions right now.

Shannon Becker, associate executive director, is lightning efficient and diligent in managing daily operations. Tammy Helman, head of title training and the title and messenger office, is one of the most experienced, knowledgeable and reliable vehicle title professionals in the Commonwealth. Nicole Autry has returned to lead the licensing section with her great licensing expertise and we are fortunate for her return. These staff leaders have great people working in their sections, and together they make the association strong, reliable, and effective for our dealers and auctions.

I would also like to express appreciation and special thanks to wholesale dealers Robert Hollenshead and Robert Adcock, and to all of our vendors, from warranty and service contract companies to GPS providers and more. You have been great supporters of the association and help retail dealers achieve success every week.

Special thanks to Frank Snyder who while working as an independent dealer at his dealership also simultaneously volunteered his time to serve as chairman of the Pennsylvania Vehicle Board. And special thanks to Jeff Dreier for his long time service as a member of the Pennsylvania Inspection Advisory Board.

Ultimately, the association is all about serving the members and I would like to thank ALL of our members over the years. I greatly value and appreciate all of our discussions and work together to help your businesses, from title work processing to regulatory compliance to government advocacy and beyond.

We expanded our annual convention starting in 2012 by teaming Pennsylvania with Maryland, Delaware, New York, and New Jersey, to form the MidAtlantic Regional

20 | MIDATLANTIC DEALER NEWS | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022

NIADA is important for the global success of our industry. That is an understatement.

Federal and state representation is tremendously important, so we must join together and advocate, defend, promote, in order to succeed for our industry. Support MARIADA and NIADA. They are here for your benefit. Get the win-win from and with your associations.

In conclusion, I am grateful for my time as executive director as I move into my next endeavor. I wish for you the confluence of passion and love for your work in our industry, strong consumer demand for your goods and services, and great business skills and work ethic, to combine for your ongoing success. Looking back makes me glad.

Looking forward, things are changing, so get ready and best of luck!

Sincerely and with gratitude, Reg

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Email Cynthia@piada.org or call 717.238.9002.

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DIN DIN ## _____________________________ _____________________________

E-mail E-mail Address Address _______________________________________________ _______________________________________________ Business Business Address Address______________________________________________ ______________________________________________ City City______________________________ ______________________________ State_______Zip State_______Zip Code________ Code________

MidAtlantic IADA Membership Application

DO IT QUICK! Call 717.238.9002 and Say “I Want to Join!” & we’ll take the info over the phone (M-F 8:30-4:30) Dealership _________________________________________________ Owner/President(s)__________________________________________ DIN #_________________________________ or  Special Member  Corp.

 Partnership

 Sole Proprietorship

 LLC

Number of Employees _______________________________________ Street Address______________________________________________ City __________________________________ State_____ Zip _______ County__________________ Dealership Anniversary (mm/yy)______ E-mail _____________________________________________________ Website____________________________________________________ Ph. (____) ___________________ Fax (____) _____________________ To assist our lobbying effort, your party affiliation is requested.  Democrat  Republican  Independent  Decline to answer PIADA yearly dues are $399.00 and MDIADA & DIADA are $299.00 (which include $60 NIADA dues). You will receive all NIADA benefits including a discount prescription drug card, Used Car Dealer magazine, and dealer advocacy to officials in Washington, D.C. (Contributions or gifts to PIADA PAC are not deductible as charitable donations for Federal tax purposes; however, the $399 dues payments are deductible by members as an ordinary and necessary business expense.)

By my signature below, I affirm that: I support the PIADA Code of Ethics and want to strengthen the business and public image of the Independent Automobile Dealer; I request membership in the MARIADA, 1501 North Front Street, Harrisburg, PA 17102, 717.238.9002, Fax (717) 238-3870, www.piada.org, and I authorize PIADA to fax or e-mail important information to me.

Name Name on on Card:_________________________________________________ Card:_________________________________________________

Signature __________________________________________________ My check(s) in the amount of: (Membership Fees are  PA Dealer $399.00 non-refundable.)  MD/DE Dealer $299.00  Plus a voluntary PAC fund contribution to PIADA PAC of $25 or more. (Must be individual check, not a corporate check. Corporate checks for PAC fund contributions are not permitted by PA law.)  Plus a $20 donation to the MidAtlantic Regional IADA Scholarship Fund.

Or please charge this amount to my credit card: Card type:  Visa  MasterCard  American Express  Discover

Card Card ## ________________________ ________________________ Security Security Code Code ______ ______ Exp. Exp.Date_____ Date_____

Name on Card ______________________________________________

Signature Signature_____________________________________________________ _____________________________________________________ Fax Fax (We’d (We’d prefer prefer fax) fax) to to 717.238.3870 717.238.3870 Or Or Mail Mail to: to: PIADA, PIADA, 1501 1501 North North Front Front Street, Street, Harrisburg, Harrisburg, PA PA 17102 17102

Card Number ______________________________________________

SPECIAL SPECIAL THANKS THANKS TO TO OUR OUR ANNUAL ANNUAL SPONSORS: SPONSORS:

Printed Name _______________________________________________

Phone Phone (____) (____) ___________________Fax ___________________Fax (____) (____)_____________________ _____________________ Number Number Attending Attending ______ ______

NAMES NAMES OF OF ATTENDEES: ATTENDEES: ___________________________________________________________ ___________________________________________________________ ___________________________________________________________ ___________________________________________________________ ___________________________________________________________ ___________________________________________________________ Card CardType: Type:  VISA VISA   MasterCard MasterCard   Discover Discover  American American Express Express

Security Code ___________ Expiration Date ____________________ Signature __________________________________________________ Date ______________________________________________________ Received by MARIADA Rep. _____________________________ Date ________________________________________________ OR Mail to: MARIADA, 1501 North Front St., Harrisburg, PA 17102. If using a credit card, you may fax this application to PIADA at 717.238.3870.

22 | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022 20| MIDATLANTIC | JANUARYDEALER 2022 NEWS MIDATLANTIC DEALER NEWS

IN MEMORIAM

Get to know your Mid-Atlantic Staff Shannon Becker Associate Executive Director (717) 238-9002 x18 / shannon@piada.org Tammy Helman, Title Consultant/ PennDOT Certified Trainer (717) 238-9002 ext. 28 / tammy@piada.org Nicole Autry, Dealer Set-Up Unit (717) 238-9002 x26 / nicole@piada.org

Cynthia Slemons, Membership Specialist (717) 238-9002 x16 / cynthia@piada.org Lisa Drank & Pam Smith Title Call Center (717) 238-9002 x27; (717) 238-9002 x32 lisa@piada.org; pam@piada.org Pamela Smith & Barbara Stake Online Registration Department (717) 238-9002 x15 pamela@piada.org; barb@piada.org

Tammy Farmer, Receptionist (717) 238-9002 ext. 10 Heather Levesque, MidAtlanticDealerNews-FEB2022-PRINT.pdf 1 Accounting 1/10/22 12:27 PM receptionist@piada.org (717) 238-9002 / heather@piada.org

Peter (Pete) Stanislaus Lukasiak 1943-2021 The National Auto Auction Association remembers Pete Lukasiak —At age 78, Pete passed away on Saturday, December 18, 2021, in the comfort of his home in Monrovia, MD. Appointed as NAAA Executive Director serving from 1988-2002, Pete took over for long-time Executive Secretary Bernie Hart. Before employment with NAAA, he was the former director of publications C for the National Automobile Dealers Association. After his separation from M NAAA, he worked for the Pennsylvania Independent Auto Dealers Association Y in Harrisburg, PA until his retirement.

CM

Pete is survived by his wife Vivian of 57 MY years of marriage, his daughter Sandy Chaney, his son Chris Lukasiak, and CY grandchildren Jessica, Gabriel, Joshua, CMY Zachary, Benjamin, and Hope.

K

A celebration of Pete's life will be held later in January as his family finalizes plans.

They will advise and post information on the Stauffer Funeral Home website, and offers of sympathy may also be posted staufferfuneralhome.com.

In place of flowers, the Lukasiak family prefers donations be made to the New Market/Green Valley Fire & Rescue Company in Monrovia, MD, in Pete’s name at nmvfc15.org. n

MIDATLANTIC DEALER NEWS | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022 | 23

MARYLAND FORMS DEALERS CAN ORDER SECURE FORMS QUANTITY PRICE TOTAL $ DUE Secure Power of Attorney (3 part-50 per package) Secure Dealer Reassignment (1 part-100 per package)

$ 00* _____ 20. $ 00 _____ 20.

Total Secure forms order 6% Maryland Sales Tax Shipping TOTAL enclosed for Secure forms

Shipping Cost: 1 – 4 packs = $10.00 5 – 10 packs = $15.00 Over 10 packs – Please call ahead for pricing.

NON-SECURE FORMS

________ $ ________ $ ________ ________ ________ $ ________ $

QUANTITY $MEMBER NON-$MEMBER TOTAL $ DUE

Cash Sales Contracts (100 per pack) Odometer Mileage Statement (100 per pack) FTC Buyers Guide (100 per pack) Check one:  AS IS  IMPLIED Restricted Power of Attorney (100 per pack) Deal Jackets (100 per pack) Test Drive Agreements (100 per pack)

_____ _____ _____

47.00 18.00 $ 00 28. $

$

94.00 36.00 $ 00 56.

________ ________ $ ________

$

$

$

$

$ 00 $ _____ $10.00 20. ________ $ 00 $ 00 $ _____ 24.

48. ________ $ 00 $ _____ $28.00 56. ________ Total Non-Secure forms order $ ________ 6% Maryland Sales Tax ________ TOTAL enclosed for Non-Secure forms $ _________ TOTAL AMOUNT DUE $ _________

Dealership ________________________________________________________________________ Dealer # (required) _________________________________________________________________ Member  Yes  No Contact Name ___________________________________________ Email _____________________________________________________________________________ Address __________________________________________________________________________ (FEDEX & UPS WILL NOT DELIVER TO P.O. BOX)

City_______________________________________________State ______Zip _________ Phone ______________________________Fax ______________________________________ Card Type:

 VISA

 MasterCard

 AMEX

Name on Card ___________________________________________________ Exp. Date________ Card Number _____________________________________ Security Code________ Make checks payable to: PIADA or fill out payment information below: Card Type:

 VISA

 MasterCard

 AMEX

 Discover

Name on Card ___________________________________________________ Exp. Date________ Card Number _____________________________________ Security Code________ We cannot process orders until payment is received.

Signature ____________________________________________ Date ___________________ For questions you may contact Cynthia Slemons at 717.238.9002 ext. 16 or Cynthia@piada.org.

PENNSYLVANIA FORMS DEALERS CAN ORDER DESCRIPTION QUANTITY MEMBER NON-MEMBER MEMBER EXT NON-M EXT $

“As is” Supplemental Statement Buyers Guide Plastic Holders (50) Buyers Guide Window Form Buyers Guide Window Form (Spanish) Consignment & Sales Agreement Form Deal Jackets Fees Chart (wall mount) Fraud Hotline Poster Installment Sales Contract (100) Interpreter Confirmation of Translation Key Tags (250) Lease Agreements Limited Warranty No Purchase Required Disclosure Notary Receipt Pad Odometer Mileage Statement Power of Attorney Disclosure Forms Rental Agreements Retail Buyer Order Form Secure Power of Attorney Secure Power of Attorney Log Book Temp Tag Log Book Title Release Authorization Used Vehicle Record

$

_____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____

24.00 $ 00 40. $ 00 20. $ 00 18. $ 00 25. $ 00 30. $ 00 14. $ 00 14. $ 150.00 $ 00 25. $ 00 32. $ 00 78. $ 00 26. $ 00 24. $ 00 15. $ 00 18. $ 00 18. $ 00 32. $ 00 32. $ 00 45. $ 00 15. $ 00 15. $ 00 15. $ 00 15.

_____ _____ _____ _____ _____ _____ _____ _____ _____

$

$

$

$

$

48.00 80.00 $ 00 40. $ 00 36. $ 00 50. $ 00 60. $ 00 28. $ 00 28. $ 300.00 $ 00 50. $ 00 64. $ 156.00 $ 00 52. $ 00 48. $ 00 30. $ 00 36. $ 00 36. $ 00 64. $ 00 64. $ 00 45. $ 00 30. $ 00 30. $ 00 30. $ 00 30.

_______ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______

_______ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______ $ _______

$

$

$

$

$

$

ADP FORMS Customer Delivery Check List Customer Proposal Damage Disclosure Delivery Confirmation Goodwill Repair Acknowledgement Insurance Coverage Acknowledgement Lease Spot Delivery Agreement Notice to Co-Signer Trade-In Appraisal

28.00 28.00 $ 00 28. $ 00 28. $ 00 28. $ 00 28. $ 00 28. $ 00 28. $ 00 28.

$ 56.00 _______ $ _______ 00 $ 56. _______ $ _______ $ 00 $ 56. _______ $ _______ $ 00 $ 56. _______ $ _______ $ 00 $ 56. _______ $ _______ $ 00 $ 56. _______ $ _______ $ 00 $ 56. _______ $ _______ $ 00 $ 56. _______ $ _______ $ 00 $ 56. _______ $ _______ $ Subtotal _______ $ _______ 6% Pennsylvania Sales Tax $ _______ $ _______ Shipping $ per pound + Special Shipping $ at cost. Total w/o shipping $_________ Please make checks payable to PIADA, 1501 North Front St., Harrisburg, PA 17102 (call in to receive shipping cost to include in payment) or you may fax orders to 717.238.3870 with credit card information. *All orders MUST be accompanied by a method of payment. *Must provide DIN if applicable.

Dealership ________________________________________________________________________ Contact_______________________________________________Date ________________

FOR INFORMATION ON MEMBERSHIP...

Address __________________________________________________________________________

MIDATLANTIC IADA = PIADA + MDIADA + DEIADA Contact Shannon at 717.238.9002 x 18 Shannon@piada.org www.piada.org • www.mdiada.org • www.deiada.org

City_______________________________________________State ______Zip _________

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Phone _____________________Fax ____________________*DIN ___________________ Card Type:

 VISA

 MasterCard

 AMEX

Name on Card ___________________________________________________ Exp. Date________ Card Number _____________________________________ Security Code________ All forms come in packs of 100 unless otherwise noted.

24 | MIDATLANTIC DEALER NEWS | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022

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MIDATLANTIC DEALER NEWS | MIDATLANTICAUTODEALERSUNITED.ORG • FEBRUARY 2022 | 25