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AFFILIATED WITH NIADA | PUBLISHED BY MIDATLANTIC IADA

January 2022

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MARIADA 1501 North Front Street Harrisburg, PA 17102

Tax Season 2022 Poses Unprecendented Opportunity, Challenges SEE PAGE 12

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Harrisburg

Looking Forward To A Great 2022 Celebrating 40 Wonderful Years With You!

2022 2 8 19

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6 MARIADA Mourns the Loss of former PIADA President Tim Swift 7 NIADA Launches Dashboard 7 Used Car Prices in the Philadelphia Region Jump by 27% 7 Manheim Express Sees Triple Digit Growth in 2021 8 NIADA Government Report 10-11 2022 Dealer Discount Book 12-13 Feature Story

on current used vehicle market conditions

24 The CarLawyer

The latest update on legal issues MIDATLANTIC REGIONAL IADA PROGRAMS, OFFERS & EVENTS

20 In Person 2022 Advanced Issuing Agent Training Courses 20 MidAtlantic IADA Membership Application 23 Forms for Dealers PA, MD 26 Auction Directory

Tax Season 2022 Poses Unprecedented Opportunity, Challenges

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ADVERTISERS Advantage Automotive Analytics . . . . . . . . . . . . . . . . . . 3, 19 ✷ Advantage Auto Tags & Insurance . . . . . . . . . . . . . . . . . . . 19 ✷ America's Auto Auction Harrisburg . . . . . . . . . . . . . . . . . . . 2 ✷ America's Auto Auction Lancaster . . . . . . . . . . . . . . . . . . . . 27 ✷ Bel Air Auto Auction . . . . . . . . . . 25 ✷ Central Pennsylvania Auto Auction . . . . . . . . . . . . . . . . . . . . . . 28 ✷ Counselor Library . . . . . . . . . . . . 25 ✷ Dealer Goodies . . . . . . . . . . . . . . . . 9 Lehigh Valley Auto Auction . . . . . . . .21 ✷ Manheim . . . . . . . . . . . . . . . 3, 14-15 ✷ North East PA Auto Auction . . . 17 ✷ ProGuard Warranty Inc . . . . . . . . . . 5 ✷ ADVERTISER ALSO PARTICIPATING IN THE 2020 DISCOUNT

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4 President’s Message

16 Pennsylvania Dealers Required to Disclose Safety Recalls 18 MARIADA Enhances Dealer Licensing Unit at Its Harrisburg Offices 22 Kontos Kommentary

INDUSTRY & MEMBER NEWS, COLUMNS

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2022 Dealer Discount Book 6

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DISTRIBUTION OF THIS MAGAZINE (FORMERLY PA DEALER NEWS) NOW INCLUDES DEALERS IN PENNSYLVANIA, MARYLAND, AND DELAWARE VIA: (1) EMAIL TO ALL DEALER MEMBERS AND TO ALL NON-MEMBERS THAT PROVIDE US WITH THEIR EMAIL ADDRESSES; (2) PAPER COPIES MAILED TO MIDATLANTIC IADA (PIADA-MDIADA-DEIADA) MEMBERS; (3) PAPER COPIES FOR MEMBERS AND NON-MEMBERS IN PA, MD, AND DE WHICH MAY BE OBTAINED FOR FREE AT PARTICIPATING AUCTIONS ON AUCTION SALE DAY. MIDATLANTIC DEALER NEWS SENDS FREE COPIES FOR DISTRIBUTION TO DEALERS AT APPROXIMATELY: 25 WHOLESALE VEHICLE AUCTIONS IN PENNSYLVANIA, MARYLAND, DELAWARE, NEW JERSEY AND NEW YORK.

MIDATLANTIC IADA SPONSORS

WOULD YOU LIKE TO RECEIVE A DIGITAL VERSION OF THE MIDATLANTIC DEALER NEWS MAGAZINE EARLY EACH MONTH? Email Shannon at Shannon@piada.org.

MIDATLANTIC DEALER NEWS JANUARY 2022 | 3

From the MidAtlantic IADA 2020-2022 ASSOCIATION PRESIDENT

WE’VE ALL LEARNED MUCH ABOUT ADAPTING TO CHANGE

ow, 2022 is here, many of us are excited to move on from what has been an interesting year . Interesting, not only in our industry, but across the board . I believe we will look back on these times as extraordinary due to the volatility in the wholesale market, the ability to garner huge front ends, and the astonishing sight of empty franchise lots up and down car row . Lessons learned this year will be carried with us the rest of our careers . Having success during times like these is something to be proud of, and I’d like to congratulate all of you for learning to adapt to a continually changing and challenging environment . I’m not suggesting that 2021 was all bad . For instance, many of us were able to expand our operations and gain additional market share . Some were able to break into niche Japanese Domestic Market vehicles, while others were able to save money creating leaner operations . The MidAtlantic IADA had a tremendous 2021 as well . A few points to mention are the expansion of our title department, as we brought on two new title clerks with years of experience at PennDOT . This has allowed us to serve our members more quickly and provide on-thespot title work . We rehired a great team member, Nikki Autry, to run our dealer setup department (more on pg . 18) . Legislatively, with the help of

our lobbying team, we were able to introduce impoundment legislation to the state House . This will go a long way in protecting the collateral of dealers who originate loans or dealers who have recourse on loans written by third parties . Finally, our board of directors is looking for more opportunities to serve the dealers of PA, MD and DE in 2022 . Inflation, wages, gas prices, availability of inventory and rising interest rates are concerns for all of us moving into the new year . We have great content to help you move into 2022 stronger than ever . Our friend, Tom Kontos, Chief Economist at KAR Global sent us some key economic indicators to consider . He reported that in November the average price per gallon of gas was up over 200 percent from last year while diesel is up 55 percent . Salaries have experienced the highest increase since 2001 (pg . 22) . We also need to pay close attention to changing mandates from local, state and federal bureaucracies . The CFPB and FTC moving on new and expanded regulations in areas such as information safeguards, credit reporting disputes and debt collection rules so please see our article from Eric Johnson from Hudson Cook in this month’s magazine (pg . 24) as well as Brett Scott of NIADA’s Government Report (pg .8) . Our association offers tools and assistance to help you navigate these unique times . With inflation baring

Noah Melamed

its teeth, lingering pandemic-related problems and the continued emphasis on numerous legal and regulatory issues our businesses face on a daily basis, your membership with the MidAtlantic IADA has never been more important . Your membership includes access to our experts in all dealer matters, a discount book worth more than $20,000 and the ability to have title work done on the spot in our Harrisburg office . Finally, thank you all for being supporters of our association and industry . And a very special thank you to the members of our board of directors who volunteer countless hours to improving our industry for dealers, auctions and consumers . I have all the faith that 2022 will be a great year . I’m looking forward to seeing how the entrepreneurial spirit and ingenuity of dealers across the country will continue to move our industry forward . From everyone here at our association and board we wish you and your family a happy, healthy, and prosperous new year . Noah Melamed is the President of the MidAtlantic Regional IADA. Noah and his family own and operate Ticket to Ride Auto Sales and Finance (TTR), and their new dealership Accel Auto, both of which are located in Lancaster, PA. You can reach Noah at nmelamed@yourttr.com.

MIDATLANTIC IADA’S 2021-2022 OFFICERS AND DIRECTORS

Noah Melamed, President Ticket to Ride Auto (PA) .......................................... 717.393.9133 Michael Brill, Chairman B & B Automotive (PA) ............................................ 215.781.1818 Bert Straub, President-Elect 1st Choice Auto LLC (PA) ....................................... 814.840.4012 John DeFilippo,Treasurer DeFilippo Bros. Motorcars (PA)............................. 610.532.87713 Clint Weaver, Secretary America's Auto Auction Harrisburg (PA) .................. 717.697.2222 Tom Brandis, Vice President Advantage Auto Sales& Credit (PA) ......................215.805.2034w Tom Hodges, Vice President Tom Hodges Auto Sales (MD) ................................. 301.373.2277 Dan Limongelli, Vice President Jo-Dan Motors (PA)................................................. 570.829.2043 Michael Mansour, Vice President Car Connection, Inc. (PA)........................................ 724.658.1212

Beth Melamed, Vice President Ticket to Ride Auto (PA) .......................................... 717.393.9133 Lisa Cohowicz, Director North East Pennsylvania Auto Auction (PA) ..................... 570.207.2277 Jeff Dreier, Director Dreier Auto Sales (PA) ............................................. 570.675.5696 April Hollobaugh, Director A & J Autos (PA) .............................................................. 814.827.6825 Kevin Luring, Director Garden Spot Auto Auction (PA) .............................. 717.738.7900 James Makia, Director Exclusive Motorcars (MD) ....................................... 410.367.0011 Daniel McNamee, Director Daniel Thomas Auto Sales (PA) ...................................... 215.768.2402 Gregg Pachik, Director Manheim Philadelphia (PA) ..................................... 215.822.1935 Kerri Rotunda, Director Corry Auto Dealers Exchange (PA) ......................... 814.664.7721

4 | JANUARY 2022 MIDATLANTIC DEALER NEWS

George Smouse, Director Smouse Trucks & Vans (PA) .................................... 724.887.7777 Steve Worley, Director Worley Motors (PA) ................................................. 717.732.2051 Jay Zimmerman, Director Zimmerman’s Auto Sales (PA)................................. 717.766.7656 Chris Smiley, Advisor Mountville Motor Sales (PA) .................................... 717.681.9610

STAFF

Shannon Becker, Associate Executive Director shannon@piada.org ...................................................717.238.9002 Tammy Helman Titles and Messenger Department .......................717.238.9002 Nicole Autry, Dealer Development nicole@piada.org ......................................................717.238.9002 Dealer Call Center .......................................................717.238.9002 Peter A. Salinas, Special Contributing Writer

ASSOCIATION NEWS

MARIADA MOURNS THE LOSS OF FORMER PIADA PRESIDENT TIM SWIFT

im E . Swift, 61, of North East, Pa ., passed away unexpectedly, November 18, 2021, at St . Vincents Hospital . He was born on December 27, 1959, in Erie, Pa ., a son of Merle and Sharon Swift of North East . Mr . Swift graduated from North East High School in 1977 . He attended Northwood Institute for a two-year degree in the automotive industry . He enjoyed collecting and trading cars for most of his life . He started his sales career at Mackay Swift Dodge in North East and went into the auto auction business for many years . He was past president of the Pennsylvania IADA, and a National Past President of NIADA . He was a member of Park United Methodist Church in North East . In addition to his parents, Tim is survived by his brother, Tad Swift of Erie, his Uncle, Wayne Swift of Florida, his Aunt, Lynda Semelka of North East, and several cousins, nieces and nephews . He is also survived by his former wife, Paula Swift . Friends were received at the W . Tad Bowers Funeral Home, 92 S . Lake St .,

North East Nov . 22, 2021, and funeral services were held there Nov . 23 . Pastor Eric Leonard officiated . Private interment was in North East Cemetery . Memorials may be made to Park United Methodist Church, 30 N . Lake St ., North East, PA 16428 or to the charity of one’s choice . To send condolences, please visit www .bowersfuneralhome . com .

6 | JANUARY 2022 MIDATLANTIC DEALER NEWS

Several Pennsylvania IADA board members expressed their thoughts on Mr . Swift’s passing, including former PIADA President John DeFilippo . “Tim was a great guy,” DeFilippo said . “I had the opportunity to serve on the board of directors with him early in my formative years on the board . He was dedicated to improving our industry . His presence will be missed .” 3

INDUSTRY NEWS

NIADA LAUNCHES DASHBOARD

The National Independent Automobile Dealers Association has launched Dashboard, a news and information hub for auto dealers and the automotive industry at large . The new resource is a one-stop shop where dealers can find relevant and actionable information on a wide range of topics, including F&I, sales, marketing, Buy Here-Pay Here, compliance, inventory and more . The content, geared toward independent dealers and others throughout the automotive sector, includes industry news and analysis, association information and events, and educational content from top experts and successful dealers . “Providing up-to-the-minute information to NIADA members and the auto industry is what Dashboard is all about,” NIADA CEO Robert Voltmann said . “It seems both the automotive world and Washington D .C . are changing faster and faster, and Dashboard will allow our members to stay on top of it all .” Dashboard can be found under the “News” tab of NIADA’s website at niada .com .

USED CAR PRICES IN THE PHILADELPHIA REGION JUMP BY 27%

According to a recent article in the Bucks County Courier Times a recent survey of 1 .9 million used car sales from one to five years old nationally, found that prices are up an average of 27 .1 percent in the greater Philadelphia area . The greatest increase in prices locally, according to the Courier Times, was for some normally less expensive vehicles because the demand for them has skyrocketed . For example, the price for a Kia Forte rose 49 percent, or by $6,340 this November compared to November 2020 . Other top price changes in the Philadelphia area included for the Toyota

Avalon, up 47 .4 percent or $10,217, and the Honda Odyssey, up 41 .3 percent or $10,601 in the past year . Popular new vehicles are often selling for more than the MSRP . The new vehicle with the highest jump in price above the MSRP according to ISeeCars is the Jeep Wrangler, at 31 .6% above MSRP, or $10,621 more . Other contenders include the Ford Mustang and Maverick, Chevrolet Corvette, Porsche Macan and Cayenne, Lexus RX and Mercedes-Benz GLB .

MANHEIM EXPRESS SEES TRIPLE DIGIT GROWTH IN 2021

During 2021, dealer usage of Manheim’s offsite wholesale channels skyrocketed, with Manheim Express alone experiencing triple digit growth year-over-year . This trend of dealers increasingly wholesaling from their lots is one of the biggest changes to come out of the second year of the COVID-19 pandemic . Manheim Express is the quickest and easiest way to get vehicles into the broader Manheim Marketplace, where dealer lots and lanes meet . According to Manheim, about half of offsite sellers say that selling from the lot is more important now to how they do business (more than any other channel) . The same number—around half—predict that all wholesale sales from dealers will come from the dealership lot in the future . Those dealers said some of the top benefits of offsite selling are that it

is easy, saves time, and gives them the ability to retail the vehicle while it is listed in wholesale, helping them sell their vehicles faster . “COVID significantly changed the wholesale industry, speeding up digital wholesale adoption by highlighting just how effective it can be,” said Connie Suozzo, vice president, Manheim Digital . “Manheim’s offsite channels bring with them a whole new level of efficiencies, and we have been investing heavily in our offsite experience—particularly Manheim Express—to help dealers buy and sell inventory from anywhere .” In total, Manheim offsite volumes have increased 123% year-over-year, with much of that growth being driven by Manheim Express, which increased over 200% in the same timeframe . To support this growth, Manheim more than doubled the size of the Manheim Express Concierge team, and the company continues to invest in this area . Over 15,000 unique dealers have listed with Manheim Express in 2021 alone . Launched in 2018, Manheim Express offers industry-leading condition information, such as immersive 360-degree images, movable images to see depth of damage, audio and video tags to assess engine noise and undercarriage, interior imaging and more . Dealers can choose to capture the vehicle themselves using the app or have the imaging and condition report created by a trained Manheim Express Concierge specialist . To further support digital buyer confidence, Manheim implemented a number of guarantees and policy changes, including its Digital Buyer Protection program, the Manheim Express Inspection Guarantee, as well as continuing to provide complimentary DealShield protection on all qualifying offsite units . Manheim Express also offers the ability to list vehicles during live, auctioneer-led Simulcast sales—an industry first for offsite wholesaling .

To keep the MidAtlantic Dealer News on schedule, certain deadlines must be observed. All information is due at the MidAtlantic Regional Independent Automobile Dealers Association for PA-MD-DE state chapters of PIADA-MDIADA-DEIADA (together “IADA”) office in Harrisburg thirty days prior to the publication date of each issue. The MidAtlantic Dealer News is a publication of the IADA, 1501 North Front Street, Harrisburg, PA 17102. Advertising rates available on request. If you have any questions please call the IADA office at 717.238.9002. IADA was established in 1955, and chartered in 1959 under the Non-Profit Corporation Laws of the Commonwealth of Pennsylvania as PIADA and merged with Maryland and Delaware trade association in 2015. The statements and opinions expressed herein are those of the individual authors and do not necessarily represent the views of the MidAtlantic Dealer News or IADA. Likewise, the appearance of advertisers or their identification as members of IADA does not constitute an endorsement of the products or services featured. Editorial and advertising requests should be directed to the Editor: MidAtlantic Dealer News, 1501 North Front Street, Harrisburg, PA 17102. Phone 717.238.9002, FAX 717.238.3870 or e-mail to Shannon@piada.org. Logos are trademarks of the IADA. Copyright © 2021 by IADA. All Rights Reserved. PUBLISHING SERVICES PROVIDED BY: WAVELINE DIRECT, LLC • 192 HEMPT ROAD • MECHANICSBURG, PA 17050 • wavelinedirect.com • 1.800.257.8830

MIDATLANTIC DEALER NEWS JANUARY 2022 | 7

WASHINGTON UPDATE

NIADA GOVERNMENT REPORT Brett Scott

By Brett Scott

IADA is your voice in Washington D .C ., advocating for independent dealers, the used vehicle industry and small business . Here’s a look at the latest news and NIADA efforts regarding legislative, regulatory, PAC and grass roots activities .

LEGISLATIVE Infrastructure: After months of negotiating, bickering and political maneuvering, the House of Representatives at last passed a bill providing $1 .2 trillion in funding for roads, bridges, broadband and other infrastructure projects . The bill, which had passed the Senate with bipartisan support, was approved in the House by a 228-206 vote . It was signed into law by President Biden on Nov . 15 . Social Spending: Next on the President’s agenda is the package of social spending that would vastly expand federal programs in education, health care, energy and more – a bill whose price tag has been trimmed back from $3 .5 trillion to a still massive $1 .75 trillion . The House vote on that bill followed the nonpartisan Congressional Budget Office’s estimate of the bill’s economic impact . The CBO report showed the bill would increase the federal deficit by more than $367 billion over 10 years, but estimated $207 billion could be generated by increased enforcement by the IRS, for a net deficit of about $160 billion . The White House claims the bill would reduce the deficit “over the long term .” The House passed the bill by a 220-213 vote, with no Republicans voting for it and only one Democrat – Rep . Jared Golden of Maine – opposing it . The bill now advances to the Senate, where Democrats will attempt to use the budget reconciliation process to pass it with no Republican votes . With the Senate split 50-50, Democrats will need the support of all of their senators to allow Vice President Harris to cast the deciding vote . That is not a given . Sens . Joe Manchin (D-W .Va .) and Kyrsten Sinema (D-Ariz .) have repeatedly expressed reservations with some of the bill’s programs and the tax proposals to pay for them . In an Oct . 26 news conference, Manchin blasted the bill, citing concerns about its effect on inflation and saying it included

“shell games” and “budget gimmicks” that could lift its actual cost to twice the proposed $1 .75 trillion . S. 2387, Small Business Tax Fairness Act: NIADA joined a coalition of trade associations representing every sector of the economy in signing a letter to the leaders of the Senate Finance Committee and the House Ways and Means Committee opposing the bill . S . 2387 would simplify the 199A deduction for pass-through entities but would eliminate that deduction for taxpayers with incomes of more than $500,000 and begin phasing it out at $400,000 . That limit, the associations said, would be “extremely harmful for a wide swath of small businesses .” In addition, the letter urged the committees to make the 199A deduction permanent – it is currently set to expire in 2025 . REGULATORY T h e Fe d e r a l Tr a d e C o m m i s s i o n implemented a controversial update to the Safeguards Rule, requiring non-banking financial institutions – which now includes vehicle dealers – to develop, implement and maintain a comprehensive security system to keep their customers’ information safe . The changes spell out the specifics of a compliant information security program, including limiting access to customer information and new requirements for encryption and multifactor authentication . The new rule also requires entities to designate one “qualified individual” to oversee their information security program . And they must explain the administrative, technical, and physical safeguards used to handle customers’ secure information . The update was approved by a 3-2 vote of the five commissioners, with Republicans Noah Joshua Phillips and Christine S . Wilson dissenting, saying the revision is unnecessary and its “one-size-fits-all approach” could weaken data security by diverting resources away from real risk management based on an entity’s unique security needs . NIADA submitted comments opposing the revisions to the Safeguards Rule, citing the “enormous expense” for dealers to comply – up to $330,000 annually – while not significantly reducing data security risks or increasing consumer benefits . The FTC is now seeking comments on another proposed change requiring

8 | JANUARY 2022 MIDATLANTIC DEALER NEWS

financial institutions to report data breaches and other security events to the commission . PAC California: On Nov . 12, I joined IADA of California president Beto Beas, chairman Brenna Stansberry, senior vice president Tony Harb and executive director John Frappier at an event for Rep . Doug LaMalfa (R-Calif .) in Richvale, Calif . Rep . LaMalfa, a member of the House Transportation and Infrastructure Committee, expressed support for the auto industry and independent dealers and welcomed an ongoing relationship with NIADA and IADAC . Coffee With Congress: NIADA’s latest Coffee With Congress is coming up Dec . 8, featuring Rep . Barry Loudermilk, a Republican representing Georgia’s 11th district, just north of Atlanta . Coffee With Congress is a series of virtual events that allows NIADA members to talk directly to the congressional representative from their district about what’s happening in Washington and ask questions about legislation and policies that could affect their businesses . If you’d like to have coffee with your congressional representative, let me know at brett@niada .com and we’ll be happy to try to arrange it . GRASS ROOTS Michigan: A bill backed by the Michigan IADA was signed into law by Gov . Gretchen Whitmer, giving car dealerships more flexibility in their hours of operation . Previously, dealerships were required to be open for at least 30 hours a week for all 52 weeks of the year, making it difficult for small dealerships to accommodate emergencies, vacations, repairs and other necessary closures . The new law allows vehicle dealerships to be open for less than the 30 hour-minimum for up to four weeks each year . “We applaud Governor Whitmer,” said MIADA president Otto Hahne, owner of City of Cars in Troy, Mich ., “for signing this common-sense legislation that will provide many small independent automobile dealerships with much needed regulatory relief and flexibility when emergencies occur and provide them with the ability to plan for other temporary closures .” 3 Brett Scott is NIADA vice president of government affairs.

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F E AT U R E

By Peter A. Salinas

Tax Season 2022 Poses Unprecedented Opportunity, Challenges Changes to 2021 U.S. Tax Laws that will result in large increases in tax refunds for consumers on the lower-end of the income spectrum — millions of which are special finance and deep subprime automotive customers — present a number of financial and financing challenges to buy here-pay here (BHPH) dealers.

ill Neylan, president and CEO of Florida-based Tax Refund Services (TRS)Tax Max, a provider of early tax refund and tax preparation programs for automotive retailers for more than 25 years, said he fully expects a very strong tax season for car dealers this year . A variety of tax law changes, he said, can result in some consumers with families getting as much a $15,000 in tax refunds or credits . David Brotherton, a dealer trainer and business development specialist with Buckeye Dealership Consulting, a national provider of reinsurance products and dealer training, said that’s good news and he expects a strong, but short time frame for the 2022 tax season, but he tempers the enthusiasm with caution and a large dose of reality . HIGH INVENTORY PRICES “Computer chip shortages on the new car manufacturing side and parts replacement on the used side have driven used car wholesale values to records in recent months,” Brotherton said . “Quality used vehicles, especially those that fit most BHPH business models are in short supply . If you want to fill up your lot in anticipation of what could be a record tax season you are going to have be that last person with his hand up in the lane or online . It’s going to be a costly proposition to secure the inventory you need .”

TAX LAW CHANGES Neylan pointed to a number of changes in tax law that will result in a 33 to 50 percent increases in tax refunds for millions of Americans . Notable tax law changes include*: • The refundable portion of the Child Tax Credit has increased from $1,400 to up to $3,600 for 2021 . A large portion of this —$1,500 — was already advanced to taxpayers beginning in July through December of 2021, but there will still be an increase in refunds because of the increase in this credit . • The Earned Income Credit (EIC) increases from 3 % to 5% • The EIC for taxpayers with no dependents is increasing • The Day Care Credit is the most substantial increase . The credit was a maximum of $1,200 that could only go towards taxes due . Now the Day Care Credit is fully refundable like the Earned Income Credit . Taxpayers can get up to 50% of their day care expenses added towards their refund with a maximum credit of $8,000 against $16,000 in day care expenses . *See accompanying table to learn details of the 2021 Tax Law Changes .

“Refunds can be more than $15,000,” Neylan said . “It’s unprecedented . Standard deductions have increased, and some lower-wage earners who never

12 | JANUARY 2022 MIDATLANTIC DEALER NEWS

qualified for the earned income tax credit before are now eligible for a $500 to $1,500 refund .” He said the day care credit is by far the largest increase . “Fifty percent of the day care costs are now added back to the refund,” Neylan said . “This was part of the American Rescue Act passed in the spring of 2021 .” BUSINESS MODEL CHALLENGES The billions more dollars in the marketplace and dealers vying for a limited number of used vehicles will continue to place upward pressure on used car values, Brotherton noted . “Obviously dealers have varying resources and how much emphasis they place on securing inventory to attract those tax refund dollars will depend on how much they are willing to spend and how increased inventory prices affects their business models,” Brotherton said . As increased federal unemployment subsidies ended in many states in mid- to late-summer and across the country in the fall, there was an uptick automotive BHPH delinquencies and automotive finance delinquencies in general . “Some people have stopped making payments and others have stopped making repairs as well,” Brotherton said . “You have to make the inventory prices fit within your business model, and with older vehicles, extending the finance term isn’t the answer .”

GET CREATIVE TO FIND INVENTORY Neylan who works with hundreds of dealers across the country said many dealers he works with have gotten creative when it comes to finding inventory . Brotherton agrees . “Go outside of your lane to find the inventory you need,” Brotherton said . “Go to the physical auction, buy online, buy off the street, try the new onlineonly auctions, look for cars on social media, and try working with buyers and wholesalers . Take an all-of-the-above approach to getting the cars you want . Beggars can't be choosers .” As far as the business model is concerned, Brotherton noted that protecting your collateral is vital . He said to do what you must to ensure that you can locate it when you need to, and find it should the consumer try to skip or hide the vehicle .

many have been successful with the program . “Dealers who take the time to understand how the program works, dedicates staff time to training, and educating the consumer, have been successful with the program,” Brotherton said . “It’s the individual dealer’s call, but it should be made with full information .” Brotherton and Neylan agree that dealers will be challenged with higher prices for fixed costs, inventory, staffing, health care and more . “You shouldn’t take on insurmountable debt or can’t exceed your capital or outrun your cashflow,” Brotherton said . “But for those dealers who can get the inventory they need, they can definitely benefit from tax refunds in the first quarter of 2022 .” 3

VERIFY, VERIFY, VERIFY “Be sure to verify all stips, make sure you know where they work, where they live, and verify everything else in terms of income and expenses,” Brotherton said . Neylan’s TaxMax program has a Fourth Quarter program, and determines a consumer’s anticipated tax refund months in advance of its delivery, which should come in mid-to-late February through early March this year, Neylan noted . “We have some major national chains using our program and they’ve been selling cars since November 1 using the anticipated refund as part of the down payment,” Neylan added . Brotherton noted that there is mixed feelings in the dealer community about using money that hasn’t yet materialized as a down payment, though, he said,

2021 Tax Law Changes & Case Study What is a fully refundable tax credit?

Child Tax Credit has increased from $2,000 to $3,000 per child under the age of 18 and is now fully refundable. (See Sample(s) 1-4) Child Tax Credit has increased from $2,000 to $3,600 per child under the age of 6 and is now fully refundable. Additional Child Tax Credit is fully refundable, and is the remaining balance of the unused Child Tax Credit. (See Sample(s) 1-4) Earned Income Credit (EIC) has increased for taxpayers claiming children by 3-5% and is fully refundable. (See Sample(s) 1-4) Earned Income Credit has increased SUBSTANTIALLY for single taxpayers claiming no children and is fully refundable. (See Sample 5) Child and Dependent Care Credit “Daycare Credit” has increased from $1,200 to $8,000 and is now fully refundable. (See Sample(s) 3 & 4) Any unused “Daycare Credit” is fully refundable and is the remaining balance of the unused “Daycare Credit”. (See Sample(s) 3 & 4) Advanced Child Tax Credit Payments have been issued to taxpayers by the IRS. Advanced Payments include $250 per month per child under the age of 18 and $300 per month per child under the age of 6. These Advanced Payments will NOT EFFECT the size of tax refunds compared to last year due to the fact that the IRS is only advancing a portion of the increased Child Tax Credit from July 15th through December 15 of 2021. (Advanced Payments will expire Dec.15, 2021) (See Sample(s) 2 & 4) The standard deduction for single taxpayers has increased from $12,400 to $12,550. (See Sample 5) The standard deduction for Head of Household taxpayers has increased from $18,650 to $18,800. (See Sample(s) 1-4) The standard deduction for Married Filing Joint taxpayers has increased from $24,800 to $25,100.

Sample 1

Sample 2

Head of Household taxpayer claiming 2 children ages 7 and 11. $28,000 in W-2 wage earnings with zero in federal withholdings. $3,000 Advanced Payments recv’d.

Head of Household taxpayer claiming 2 children ages 7 and 11. $28,000 in W-2 wage earnings with zero in federal withholdings. No Advanced Payments recv’d. Income Standard Deduction Taxable Income Income Tax

$ 28,000 $ -18,800 $ 9,200 $ 920

Child Tax Credit $ Daycare $

-920 0

Income Standard Deduction Taxable Income Income Tax

$ 28,000 $ -18,800 $ 9,200 920 $

Child Tax Credit $ Daycare $

-920 0

Sample 3

Head of Household taxpayer claiming 2 children ages 7 and 11. $28,000 in W-2 wage earnings with zero in federal withholdings and paid $8,000 in child care expenses (daycare). No Advanced Payments recv’d. Income Standard Deduction Taxable Income Income Tax

$ 28,000 $ -18,800 $ 9,200 $ 920

Child Tax Credit $ Daycare $

-920 0

Sample 4

Head of Household taxpayer claiming 2 children ages 7 and 11. $28,000 in W-2 wage earnings with zero in federal withholdings and paid $8,000 in child care expenses (daycare). $3,000 Advanced Payments recv’d. Income Standard Deduction Taxable Income Income Tax

$ 28,000 $ -18,800 $ 9,200 $ 920

Child Tax Credit $ Daycare $

-920 0

Total Tax $

Fed. Withholdings $

4,253 5,080 0 2021 Refund $ 9,333

Earned Income Credit $ Add’l Child Tax Credit $ Unused Daycare Credit $

2021 Refund $

4,253 2,080 0 6,333

Earned Income Credit $ Add’l Child Tax Credit $ Unused Daycare Credit $

4,253 5,080 4,000 2021 Refund $ 13,333

Earned Income Credit $ Add’l Child Tax Credit $ Unused Daycare Credit $

6,289

2020 Refund $

6,289

2020 Refund $

Earned Income Credit $ Add’l Child Tax Credit $ Unused Daycare Credit $

2020 Refund $

+$3,000 Advanced Payments

6,289

A fully refundable tax credit is the unused credit that is refunded to the taxpayer no matter how much the taxpayer's income tax liability is, thus generating a larger tax refund. (Ex: EIC, Add’l Child Tax Credit, “Daycare Credit”)

Sample 5 Single 20 year old taxpayer claiming no children. $15,000 in W-2 wage earnings with $540 federal withholdings.

Income Standard Deduction Taxable Income Income Tax

$ 15,000 $ -12,550 $ 2,450 $ 245

Child Tax Credit $ Daycare $ Total Tax $

0 0 245

Fed. Withholdings $ Refund Sub Total $

-540 295

4,253 2,080 4,000 2021 Refund $10,333

Earned Income Credit $ Add’l Child Tax Credit $ Unused Daycare Credit $

2020 Refund $ 6,289

2020 Refund $

+$3,000 Advanced Payments

957 0 0 2021 Refund $ 1,252 279

Chart Courtesy of TRSTaxMax

MIDATLANTIC DEALER NEWS JANUARY 2022 | 13

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The nation’s leading provider of end-to-end wholesale vehicle solutions never stops working for you. Whether you work in-lane, online or both, Manheim is here to help you be more successful — with better, faster, seamless wholesale tools that independent dealers love.

VISIT OUR MID-ATLANTIC LOCATIONS Manheim Baltimore-Washington, Manheim Keystone, Manheim Pennsylvania, Manheim Philadelphia, Manheim Pittsburgh

To learn how, visit mymanheim.com or call 1-866-MANHEIM (626-4346).

INDUSTRY NEWS

PENNSYLVANIA DEALERS REQUIRED TO DISCLOSE SAFETY RECALLS

choose to comply, such as using by the safety recall information from your selected vehicle history report information (VHI) company or document management system (DMS) company . This information can typically be placed on one or two pages by the vehicle history report vendor instead of 10 pages .

ea lers in Pennsylvania a re required to prov ide not ice of open or unremedied safet y recalls to customers at the time of sale of the vehicle, pursuant to Pen n s ylv a n ia Ac t 59 of 2018 . Dealers have been complying with this l aw si nce it went i nto ef fec t on August 27, 2018 . This article is intended to provide clarification and additional informat ion in response to quest ions f rom our Members about t he Act 59 of 2018 safety disclosure notice law . Providing a safety disclosure notice was already an established best practice in the industry utilized by most of our dealers prior to it becoming a legal requirement . SAFETY RECALL DISCLOSURE NOTICE REQUIREMENT P ursuant to Act 59, dealers are required to provide notice of open or unremedied safety recalls to customers at the time of sale of the vehicle . SAFERCAR.GOV DISCLOSURE NOTICE METHOD The Safe harbor way to do this is to provide the safercar .gov notice by placing the 17 digit VIN and printing the results . The problem we have been notified of is that this may require as many as 10 pages for a printout, plus another 10 pages to keep in your records . However, by using the safercar . gov recall information, dealers are automatically in compliance with the law . DMS AND VHI VENDORS DISCLOSURE NOTICE METHOD There are other ways the dealers may

16 | JANUARY 2022 MIDATLANTIC DEALER NEWS

CONCLUSIONS It is recommended that you consult with your VHI vendor and your DMS vendor regarding obtaining safety recall notice information to provide to your customer at the time of sale . You will want assurance that the information provided by the DMS vendor or VHI vendor is as updated or more updated than what is listed on the safercar .gov website . 3

INDUSTRY NEWS

MARIADA ENHANCES DEALER LICENSING UNIT AT ITS HARRISBURG OFFICES

By Peter Salinas

ormer Pennsylvania IADA Dealer Licensing Specialist Nicole Autry has returned as a full-time employee at the association’s Harrisburg offices . Nicole had worked for the association from 2011 through 2020 and has now returned to her former post . She assists all association members with most of the Nicole Autry licensing and business relationships with the Commonwealth . “Whether it’s a dealer who is changing his business designation from sole proprietor to an LLC or a C-corp or is changing or adding locations, or getting licensing for their sales professionals, we can help them through the process,” Nicole said . Shannon Becker, MidAtlantic IADA assistance executive director, said the association’s Dealer Unit, is one of the busiest and multiple requests for assistance come in daily . “Having Ms . Autry return is very good for our members, and she is instrumental in delivering these important services,” Shannon said . Nicole said new dealers seeking assistance in setting up their relationship with the state is one of the more frequent requests . She assists with helping dealers to understand exactly what paperwork and information Pennsylvania requires . “If all the information required is prepared and delivered properly their application or changes can move through the system quickly,” Nicole said . “If not, it can add many weeks to the process, delaying the proper licensing required to operate legally .” There are many moving parts to legally

Dealers who open new locations, such as Dual Devil’s Garage in Houston, Pa., can get licensing and other assistance from MidAtlantic IADA.

18 | JANUARY 2022 MIDATLANTIC DEALER NEWS

acquiring licensing including working with counties and municipalities to acquire occupancy permits, and the Dealer Unit assists with those issues as well . “Dealers are fully utilizing the services we offer, and we encourage more to take advantage of these offerings as well,” Nicole said . “Just in the last month, we’ve assisted 11 dealers with first-time licensing .” New dealers who call for assistance who are not members are strongly encouraged to join the association, and Nicole and other association employees detail the numerous benefits of joining the association . Typically, it can take four to six weeks for Pennsylvania to approve an application once it is submitted to the State Board of Vehicle Manufactures, Dealers and Salespersons, Nicole noted . The two-step process involves both the Bureau of Enforcement Investigation and PennDOT . Dealers who wish to contact Nicole Autry should call, 717 . 238 .9002 Ext . 26, or send an email to nicole@piada .org . 3

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10/14/21 10:05 AM

2022 ADVANCED ISSUING AGENT TRAINING COURSES IN PERSON AT THE FOLLOWING LOCATIONS Monday, March 14, 2022 AMERICA’S AA – HARRISBURG 1100 S. York St., Mechanicsburg, PA 17055 • Clint Weaver • 717.697.2222 Monday, April 25, 2022 ADESA - PITTSBURGH AA 378 Hunker Waltz Mill Rd., New Stanton, PA 15672 Carly Bishop• 724.925.4700 Monday, May 16, 2022 NORTHEAST PENNSYLVANIA AA Arcaro & Genell Restaurant, 443 South Main St., Old Forge, PA 18518 Lisa Cohowicz • 570.650.2781 Monday, June 13, 2022 MANHEIM PHILADELPHIA AA 2280 Bethlehem Pike, Hatfield, PA 19440 Charles Polina 215.822.1935 Monday, September 19, 2022 GARDEN SPOT AA Robert Rd. & Apple St., Ephrata, PA 17522 • Kristi Kohl • 717.738.7900

PIADA Members: $99 • Non-Members: $129 Contact PIADA chapter today: Email Cynthia@piada.org or call 717.238.9002.

COURSE REGISTRATION Company ____________________________________________________ Contact _____________________________________________________ PIADA Member?  Yes  No

DIN # _____________________________

E-mail Address _______________________________________________ Business Address ______________________________________________ City ______________________________ State_______Zip 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 on 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 # ________________________ Security Code ______ Exp. Date_____

Name on Card ______________________________________________

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

Card Number ______________________________________________

SPECIAL THANKS TO OUR ANNUAL SPONSORS:

Printed Name _______________________________________________

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

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

20 | JANUARY 2022 MIDATLANTIC DEALER NEWS

COLUMN STATISTICAL ANALYSIS

KONTOS KOMMENTARY

SUMMARY Wholesale prices rose to a new monthly record above $16,000 in October and have continued to exceed that threshold well into November . The average price of a vehicle sold at physical auctions is now more than $5,000 higher than this same time in pre-pandemic 2019 . In addition to tight used vehicle supply and lack of new vehicle inventory due to the chip shortage, wholesaleused vehicle values have benefitted from strong demand from rental companies that lack availability of new vehicles to place into fleet service . Retail used vehicle sales improved in October, but CPO sales softened — perhaps due to late-model used vehicle supply limitations . DETAILS According to KAR Global Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model class, wholesale prices in October averaged $16,318 — up 5 .0% compared to September, up 30 .4% relative to October 2020, and up 46 .5% compared to pre-COVID/October 2019 as seen in the table below .

WHOLESALE USED VEHICLE PRICE TRENDS

Tom Kontos

The following graph shows trends in average prices by major vehicle type and in total by week through November 14 using the same criteria:

Overall average prices are now more than 60% above preCOVID averages for this select group of vehicles . Based on NADA data, retail used vehicle sales by franchised and independent dealers in October were up 3 .5% monthover-month and up 0 .5% year-over-year . Year-to-date through October, sales are up 9 .6% versus 2020 and up 1 .5% compared to 2019/pre-pandemic levels . October CPO sales were down 4 .9% from the prior month and down 7 .2% versus last year, according to figures from Autodata . On a year-to-date basis through October, CPO sales are up 8 .5% compared to last year and up 1 .8% versus 2019 . 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 .

Prices rose for all model classes except compact pickups, which had a modest decline from high levels . When holding constant for sale type, model-year-age, mileage, and model class segment — using criteria that characterize off-lease units — prices in October were up versus 2020 and 2019 even more dramatically for midsize cars than for midsize SUV/ CUVs, as seen in the following table: Fleet/Lease Sales of Three-MY-Old Units w/36K-45K miles

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 . Forward-Looking Statements: The statements contained in this report and statements that the company may make orally in connection with this report that are not historical facts (including, but not limited to, expectations, estimates, assumptions and projections regarding the industry and business) may be forward-looking statements . Words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “promises”, “likely to” and similar expressions identify forward-looking statements . Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by the forward-looking statements . Factors that could cause or contribute to such differences include those matters disclosed in the company’s Securities and Exchange Commission filings . The company does not undertake any obligation to update any forward-looking statements .

Tom Kontos is Chief Economist, KAR Global, parent company of ADESA auctions. Mr. Kontos 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, Mr. Kontos 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. KAR Global, 11299 N Illinois Street, Carmel, IN 46032; 317-249-4235; tom.kontos@karglobal.com

22 | JANUARY 2022 MIDATLANTIC DEALER NEWS

MARYLAND FORMS DEALERS CAN ORDER SECURE FORMS QUANTITY PRICE TOTAL $ DUE $ 00* $ Secure Power of Attorney (3 part-50 per package) Secure Dealer Reassignment (1 part-100 per package)

_____ 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 _________

ntic Reg i tla

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JOIN

i an

ep end om ent Aut

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TODAY!

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.

MIDATLANTIC DEALER NEWS JANUARY 2022 | 23

COLUMN LEGAL

THE CARLAWYER©

ere’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 Consumer Financial Protection Bureau, Office of the Comptroller of the Currency, Federal Reserve Board and Federal Deposit Insurance Corporation . 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 . FEDERAL DEVELOPMENTS CFPB Announces New Hires. On October 29, the CFPB announced that Lorelei Salas will be joining the Bureau as Assistant Director for Supervision Policy and as the Acting Assistant Director for Supervision Examinations and that Eric Halperin will be joining as Assistant Director for the Office of Enforcement . CFPB Releases Guidance on Implementation of and Compliance with Debt Collection Rule’s Validation Information Requirements. The CFPB recently released guidance documents to help industry implement and comply with the Debt Collection Rule’s validation information requirements . The Debt Collection Rule requires debt collectors to provide consumers with certain information to help them identify the debt being collected . This “validation information” consists of information about the debt, information about the consumer’s protections and rights during collection of the debt, and information to facilitate the consumer’s ability to exercise those rights . The Debt Collection Rule details how a debt collector can provide the validation information in a validation notice . The CFPB’s most recent guidance on the Debt Collection Rule includes a Spanish translation of the model validation notice, a new section of the rule’s FAQs

that addresses the use of the model validation notice, a new section of the rule’s FAQs that addresses the special rule for residential mortgage debt that may be used when disclosing the required validation information, and a document addressing how to disclose certain validation information in an “Itemization Table” when using the model validation notice . The CFPB also recently issued FAQs on “limited-content messages” and the call frequency provisions of the Debt Collection Rule . CFPB Issues Advisory Opinion on CRA Matching Procedures. On November 4, the CFPB issued an advisory opinion addressing the matching procedures that consumer reporting agencies use to match information to consumers . The advisory opinion reminds CRAs, including background screening companies, that their procedures to match information they receive to the correct consumer in preparing consumer reports must comply with their obligation to “follow reasonable procedures to assure maximum possible accuracy” under Section 607(b) of the Fair Credit Reporting Act and that the practice of name-only matching (i.e., matching information to the particular consumer who is the subject of a consumer report based solely on whether the consumer’s first and last names are identical or similar to the first and last names associated with the information, without verifying the match using additional identifying information for the consumer) is not a reasonable procedure . CFPB Releases Report on Consumer Credit Report Disputes. As part of a series of reports on consumer credit trends, the CFPB released “Disputes on Consumer Credit Reports,” which examines how disputes can appear in credit record data, the characteristics of consumers who have disputes appear in their credit reports, and what happens to accounts that have been reported as being in dispute . The report uses

24 | JANUARY 2022 MIDATLANTIC DEALER NEWS

Eric Johnson

data on auto financing, student loan, general-purpose credit card, and retail card accounts that were opened between 2012 and 2019 . These four types of credit have the largest share of accounts that had dispute flags during the sample period . Agencies Issue Final Rule Requiring Notification of Significant ComputerSecurity Incidents. On November 18, the OCC, FRB, and FDIC issued a final rule imposing notification requirements on banking organizations and their bank service providers when a significant computer-security incident has occurred . The final rule requires a banking organization to notify its primary federal regulator of any significant computer-security incident as soon as possible and no later than 36 hours after the banking organization determines that a computer-security incident has occurred . Notification is required for incidents that have materially affected or are reasonably likely to materially affect the viability of a banking organization’s operations, its ability to deliver banking products and services, or the stability of the financial sector . In addition, the final rule requires a bank service provider to notify affected banking organization customers as soon as possible when the provider determines that it has experienced a computer-security incident that has materially affected or is reasonably likely to materially affect banking organization customers for four or more hours . Compliance with the final rule is required by May 1, 2022 . CASE(S) OF THE MONTH Court Denied Arbitration of Car Buyer’s Individual Claims Against Assignee of RIC Based on Waiver and Denied Arbitration of His Class Action Claims Based on Arbitration Agreement’s Wording: A car buyer entered into a retail installment contract in connection with his used car purchase . After the buyer defaulted, the assignee

of the RIC repossessed and sold the car and then sued the buyer to recover the deficiency balance . The buyer answered and filed a counterclaim alleging that the assignee violated the Uniform Commercial Code by not selling the car in a commercially reasonable manner and by not giving appropriate notice . The assignee answered the counterclaim and later moved for summary judgment on its deficiency claim and the buyer›s counterclaim . Thereafter, the buyer moved for leave to amend his counterclaim to specify the alleged violations of the UCC and to convert the counterclaim into a class action . The trial court denied the assignee›s summary judgment motion and granted the buyer›s motion for leave to amend . The assignee moved to compel arbitration of the buyer›s individual counterclaim and to dismiss the class allegations based on an arbitration agreement in the RIC . The trial court denied the assignee›s motion, and the Court of Appeals of Indiana affirmed . The RIC›s arbitration agreement provided that either party

could choose to have any dispute between them decided by arbitration and that the claim would be arbitrated on an individual basis and not on a class basis . The appellate court found that the assignee waived its right to compel arbitration of the buyer›s individual claim by answering his counterclaim and then moving for summary judgment, actions that the appellate court found were «inconsistent with an intent to arbitrate .» The appellate court also found that even if the assignee sought to compel arbitration of the amended class action counterclaim, it could not do so based on the wording of the arbitration agreement that class action claims are not arbitrable . See Financial Center First Credit Union v. Rivera, 2021 Ind . App . LEXIS 345 (Ind . App . November 9, 2021) . THIS MONTH’S CARLAWYER© COMPLIANCE TIP Our Case of the Month highlights how having an arbitration agreement in a RIC is not enough to secure arbitration of claims rather than litigation . It’s equally

important to look at your actions when dealing with a lawsuit or counterclaim . In this case, the assignee of the RIC answered the buyer’s counterclaim and moved for summary judgment . The court ruled that the assignee waived its right to compel arbitration and that its actions were inconsistent with the parties’ earlier intention to arbitrate claims . If you haven’t done so, it’s time to review the arbitration agreement you’re using (you do have an arbitration agreement or provision, right?) and compare those to your actual practices . So, there’s this month’s roundup! Stay legal, and we’ll see you next month . 3 Eric (ejohnson@hudco.com) is a Partner in the law firm of Hudson Cook, LLP, Editor in Chief of CounselorLibrary.com’s Spot Delivery®, a monthly legal newsletter for auto dealers and a contributing author to the F&I Legal Desk Book. For information, visit www. counselorlibrary.com. ©CounselorLibrary. com 2021, all rights reserved. Single publication rights only, to the Association. HC# 4882-3023-3349

MIDATLANTIC DEALER NEWS JANUARY 2022 | 25

AUCTIONDIRECTORY PENNSYLVANIA ADESA MERCER

758 Franklin Road, Mercer, PA 16137 Phone: 724.662.4500 / Fax: 724.662.8716 Chris Angelicchio, General Manager Jason Miller, Auction Manager Sale Day: Friday 9:00 A.M. Office M-W: 9-4:00; TH: 9-5:00; F: 8-5:00 www.adesa.com

ADESA PA

I-83 Ex. 28 (Old Ex. 12), 30 Industrial Rd., York, PA 17406 Phone: 717.266.6611 / Fax: 717.266.7650 Derek Kline, GM Theresa Casper, Dealer Sales Wednesdays 9:00 A.M. Inops 8:30 A.M. Specialty Sale every 4th Wed 8:30 A.M. www.adesa.com

ADESA PITTSBURGH

378 Hunker Waltz Mill Rd., New Stanton, PA 15672 Phone: 724.925.4700 / Fax: 724.925.4701 Chris Angelicchio, General Manager Bernie Nemec, Dealer Contact Tuesday 9:00 A.M. www.pittautoauction.com

AMERICA'S AA - HARRISBURG

1100 S. York St., Mechanicsburg, PA 17055 Phone: 717.697.2222 / Fax: 717.697.2234 Clint Weaver, GM; Ryan Milletics, AGM; Ryan Milletics, Operations Manager; Sharon Guise, Office Manager; Tom Wesner, Dealer Sales; Randy Donovan, Dealer Sales; Tammy Leppo, Dealer Sales; Glenn Gochenaur, National Accounts; Brent Wesner, Internet Sales Every Thursday 8:45 A.M. www.harrisburgautoauction.com

AMERICA’S AA - LANCASTER

1040 Commercial Ave., P.O. Box 406 East Petersburg, PA 17520 Phone: 717.569.5220 / Fax: 717.569.3109 Greg Gehman, Founder Jim Fucci, GM Weekly Sales Wed. 9:00 A.M.; INOPS 8:30 A.M. www.americasautoauction.com

GARDEN SPOT AUTO AUCTION

Robert Rd. & Apple St., Ephrata, PA 17522 Phone: 717.738.7900 / Fax: 717.738.7930 Kristi Kohl, GM; Kevin Luring, Marketing Manager Tuesday 10:00 A.M. www.gardenspotautoauction.com

GREATER ERIE AUTO AUCTION

7700 Avonia Road, (Exit 16 of I-90 & PA Route 98) Fairview, PA 16415-0916 Phone: 814.474.3900 / 877.474.GEAA Fax: 814.474.4969 Chrissy Briggs, GM; Ryan Russell, AGM Jody Gadley, Office Manager; Scott Porter, Operations Manager; Rich Gardner, Transportation Manager; Vicky Whiteford, Accounting/ HR, Manager Tuesday 1:45 P.M. www.greater-erie.com

LEHIGH VALLEY AUTO AUCTION

3880 Lehigh St., Whitehall, PA 18052 Phone: 610.435.5554 / Fax: 610.435.5557 Jerry Mekolichick, Owner Matthew Mekolichick, VP of Operations Monique Ramirez, Dealer Contact Every Wednesday 5:00 P.M. www.lehighvalleyautoauction.com

MANHEIM KEYSTONE

488 Firehouse Road, Grantville PA 17028 Phone: 717.469.7900 / Fax: 717.469.2842 Joey Hughes, VPGM Shirley Kennedy, Office Manager/Dealer Services Every Monday 11:00 A.M. www.manheim.com

MANHEIM PENNSYLVANIA

1190 Lancaster Rd., Manheim, PA 17545 Phone: 717.665.3571 / Fax: 717.665.9265 Joey Hughes VPGM; Randy Derr AGM Kevin Gantz AGM, Tim Doyle AGM Andy Mekulsia, Commercial Accounts Manager Deni Hostetter, Dealer Services Exotic Highline Sales every other Thurs.- 9:00 A.M. Every Friday Sale 8:30 A.M. www.manheim.com

MANHEIM PHILADELPHIA

55 E. Buffalo Church Rd. Washington, PA 15301 Phone: 724.225.1777 / Fax: 724.225.7223 Lou Craig - GM Thursday 12:30 P.M. www.americasautoauction.com

2280 Bethlehem Pike, Hatfield, PA 19440 Phone: 215.822.1935 / Fax: 215.822.8140 Charles Pollina, GM; Scott Mulligan, AGM Gregg Pachik, Dealer Services Manager Troy Moyer, Commercial Accounts Manager Tuesday 9:30 A.M. TRA Sale - Tuesday 12:30 P.M. Office: M-Th 8:30-5 F 8:30-1 www.manheim.com

BLOOMSBURG AUTO AUCTION

MANHEIM PITTSBURGH AA

AMERICA’S AA - PITTSBURGH

25 Ridge Road, Bloomsburg, PA 17815 Phone: 570.784.2306 Wednesday 10:00 A.M. John and Heather Vance, Owner/Operators www.bloomaa.com

CENTRAL PENNSYLVANIA AA

Exit 178 of I-80, Lock Haven, PA 17745 Phone: 800.248.8026 / Fax: 570.726.7841 Grant Miller, Owner; Doug Miller, V.P./COO Bill Neimond, GM; Tim Keohane, AGM Thursday 9:45 A.M. Office: MTF 8-5:30 W-Th 8-6:00 www.cpaautoauction.com

CORRY AUTO DEALERS EXCHANGE

P.O. Box 317, 12141 Route 6 West, Corry, PA 16407 Phone: 814.664.7721 / Fax: 814.664.7724 Kerri Rotunda, General Manager Jim Young, Operations Manager Thursday 10:00 A.M. 3 Lanes Dealer Consign, Fleet/Lease www.corryade.com

21095 Route 19, Cranberry Twp., PA 16066 Phone: 724.452.5555 / Fax: 724.452.1310 Tom McDonald, GM; Shawn Byers, AGM Zak Hanna, Senior Manager Client Service Justin LaScola, Manager Client Service Dealer Wednesday, 9:00 A.M. www.manheim.com

NORTH EAST PENNSYLVANIA AA

860 N. Keyser Ave., Scranton, PA 18504 Phone: 570.207.CARS / Fax: 570.207.1860 James Gaughan, Owner; Joseph Gaughan, Dealer Contact; Lisa Cohowicz, Dealer Contact Kevin Jennings, Dealer Cnt/F-L Tuesday 10:00 A.M. www.nepautoauction.com

PERRYOPOLIS AUTO AUCTION

Route 51 S. Perryopolis, PA 15473 Phone: 724.736.4445/ Fax: 724.736.0466 Renee Smith, Director of Operations Friday 9:45 A.M. www.perryautoauction.com

26 | JANUARY 2022 MIDATLANTIC DEALER NEWS

Spend $399 - Get $20,000 in Discounts on Auction and Industry Products & Services. Join PIADA-MDIADA-DEIADA, NJIADA, NYIADA Today! MARYLAND BSC AMERICA/BEL AIR AUTO AUCTION P.O. Box 200, 4805 Philadelphia Rd. Belcamp, MD 21017 Phone: 410.879.7950 / Fax: 410.893.1515 R. Charles Nichols, President Michelle Nichols-Neff, Vice President Cindy Mitchell, VP of Fleet Operations Christina Shepard, Dealer Sales Manager Shannon Webb, Floorplan Manager Chase Tribull, Transportation Manager Tommy Rogers, Salvage Manager Jennifer Friedel, Online Sales Thursday 8:30 A.M. @ Clayton Station Thursday 8:00 A.M. @ Bel Air @ Belcamp www.bscamerica.com

MANHEIM BALTIMORE-WASHINGTON

7120 Dorsey Run Rd., Elkridge, MD 21075 Phone: 410.796.8899 / Fax: 410.799.0512 John Eriksen, GM; Chad Spearman, AGM; Audrey England, AGM; Steve Soprano, Dealer Sales Manager Tuesday Sale Starting @ 9:30 A.M. Tuesday Frontline Sale @ 9:00 A.M. TRA/Salvage Starting @ 1:00 P.M. www.manheim.com

NEW JERSEY ADESA AUCTION OF NEW JERSEY

200 N. Main, Manville, NJ 08835 Phone: 908.725.2200 / Fax: 908.725.3446 Craig Estep, GM Consignment Sale Thursdays 8:45 A.M. Topline Sale 9:00 A.M. monthly Thursdays GM Factory Sale Bi-weekly Tuesdays 10:00 A.M. www.adesa.com

MANHEIM NEW JERSEY AA

730 Rte. 68, P.O. Box 188, Bordentown, NJ 08505 Phone: 609.298.3400 / Fax: 609.298.4489 Pete Sauber, GM; John Odorisio, AGM Wednesday 9:00 A.M. www.manheim.com

NEW YORK ADESA BUFFALO

12200 Main St., Akron, NY 14001 Phone: 716.542.3300 / Fax: 716.542.3547 Warren Clauss, GM, Mike Phillips, Assistant GM Consignment Sale Tuesday 9:00 A.M. Boat & RV Sale 2nd Tuesday Monthly 11:00 A.M. Ford Factory Tuesday Monthly 9:00 A.M. Office: M-Tu: 8-5, W: 8-4, Th: 9-4, F: 9-3 www.ADESA.com/Buffalo

ADESA LONG ISLAND

425 Patchogue Yaphank Rd., Yaphank, NY 11980 Noel Nixon, GM 631.205.5000 www.adesa.com/LongIsland

ADESA SYRACUSE

5930 State Rte. 31, Cicero, NY 13039 David Taylor, GM 315.699.2792 www.adesa.com/Syracuse

BUFFALO AUTO AUCTION 8418 Southwestern Blvd., Angola, NY 14006 716.549.4800 Russ Krull, GM deeregunner@hotmail.com

MANHEIM ALBANY 459 Route 146, Clifton Park, NY 12065-0440 518.371.7500 Jay Waterman, GM jay.waterman@manheim.com

MANHEIM NEW YORK AA 2000 Dealer Drive, Newburgh, NY 12550 Phone: 845.567.8400 / Fax: 845.567.8410 Jesse Nelson, GM / Darryl Vrooman, AGM Thomas Beal, AGM 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 www.manheim.com

ROCHESTER’S CENTRAL AUTO AUCTION 20 Cairn Street, Rochester, NY 14611 Julie Quinn, GM 585.328.2277 Info@rochesterautoauction.com

ROCHESTER- SYRACUSE AUTO AUCTION 1826 State Route 414, P.O. Box 129 Waterloo, NY 13165 315.539.5006 Scott Prankie, GM sprankie@rsautoauction.com

STATE LINE AUTO AUCTION 830 Talmadge Hill Rd. S., Waverly, NY 14892 Phone: 607.565.8151 / Fax: 607.565.8659 Jeff Barber, Owner; Jim Terwilliger, Sales Manager Neal McEwen, Fleet/Lease Manager GM Financial Open Sale – EVERY Friday @ 9:20 A.M. Sharp GM Financial Closed Sales as Scheduled Dealer Consignment Sale – EVERY Friday @ 9:20 A.M. Sharp www.statelineauto.com

WEST VIRGINIA MOUNTAIN STATE AUTO AUCTION Route 2, Box 835, Shinnston, WV 26431 Phone: 304.592.5300 / Fax: 304.592.3510 Chad Garrison, GM; Joe Pyle, Owner Monday 10:30 A.M. Office: 9:00-5:00 www.mtstateaa.com

January 1st, 2022 Office & Canopy CLOSED

Office & Canopy Will Reopen January 3rd