Please Welcome Our Newest TIADA Members DEALER MEMBERS A & N Motors Inc Nicolas Sam 3906 Waldo St #2B Houston, TX 77063 A-1 Auto Sales & Trade John Shah 3907 Irvington Blvd Houston, TX 77009 A. B. Motors George Agaybi 1115 Uvalde Rd Houston, TX 77015 Austinite Auto Sales, LLC ‘Sam’ Hesham Esawy 904 Wagon Trail Austin, TX 78758 Auto Max George Agaybi 1115 Uvalde Rd Houston, TX 77015 Autohouse Auto Finance Brian Pool 12980 Hwy 155 S Tyler, TX 75703 Countryside Auto Sales Gary Shockey 12019 San Pedro San Antonio, TX 78216 Edna Motors Tommy Pesek 210 N. Wells Edna, TX 77957 Fleet Auto Finance Ahmed Mahmud Houston, TX 77050 Fleet Trucks & Vans Jim Davis 5818 Leopard Corpus Christi, TX 78408 Houston Motors, LLC Michael Jackson 4235 S Main Street Stafford, TX 77477 JapanDrift.net Won Yoon 1951 W. Division St Arlington, TX 76812 JD Motors Joseph Dib 6710 Burbet Rd Austin, TX 78757 M. A. Auto Sales George Agaybi 1115 Uvalde Rd Houston, TX 77015
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McCoy Towing & Recovery Ron McCoy 2747 North FM 908 Rockdale, TX 76567 Mr. Victors Ltd Co Victor Daniec P.O. Box 2604 Edinburg, TX 78540 Paul Young Cars Paul Young 3701 E Saunders, Suite C Laredo, TX 78041 Premium Automotive Harmon Diaz 122 N McColl Rd Edinburg, TX 78541 Sansone Motor Cars, LLC Dominic Sansone 712 N. Main Street Keller, TX 76248 Spring Motor Sport Imad Ikhbeis 2702 Louetta Rd Spring, TX 77388 SR Auto Group M. Aljandali 6120 Long Dr Houston, TX 77087 Tony’s Used Cars Rami Tony 2801 Texas Ave La Marque, TX 77568 Universal Credit “Jimmy” Wael Elhaj 3535 Hwy 6 S Houston, TX 77082 Win Auto Center, LLC David Taylor 878 US Hwy 271 North Gilmer, TX 75644 Zoom ATX LLC Fadi Al Chaer 909 Prairie Trail Austin, TX 78758 ASSOCIATE MEMBERS Cornwell Jackson Derek Northup 6865 Wind Crest Dr; Suite #100 Plano, TX 75024 Kiss Concepts Group, LLC James Peacock PO Box 100971 Ft. Worth, TX 76185 QuoteWizard Adam Johnson 157 Yesler way Seattle, WA 98104
of a self-insurance approach is to eliminate the employee time required to verify insurance, deal with cancellations and renewals, and hassle with adjustors. Also, the dealer isn’t competing with insurance premiums for the customer’s limited dollars.
“Standard” Policies
There are sources out there that offer Texas driver’s policies that look like the old Texas “standard” policies that cover all the things that were covered before insurers started selling limited-coverage policies. Under some of these programs, a dealership employee can apply for coverage at the time of sale of the vehicle. Buyers can also be referred to agents that sell these policies with the understanding that limited policies are not acceptable. Some of the “standard” policies include liability insurance. While a dealer is not required to verify liability insurance, it’s still a good idea to encourage debtors to have liability. In addition to the fact that liability is required by state law, many local police agencies are impounding vehicles when the driver can’t produce proof of liability during a traffic stop.
Single-Interest Insurance
Single-interest has been around forever, but is rarely used by BHPH dealers. It is expensive and can typically be added to a contract only after the buyer has failed to obtain or maintain regular insurance. As is the case with any forced-placed insurance, it is difficult to get a sub-prime car debtor to make larger payments than originally contracted for to cover the additional cost.
Collateral Protection Programs
BHPH dealers in Texas and other states have for years been offering their customers a form of insurance for which the dealer controls the collection of and payment of premiums. These policies protect the lien holder’s interest only, and claims payments are made directly to the lien holder. These policies usually don’t involve any underwriting of the driver or the vehicle. While these programs have traditionally carried more appeal to higher-volume dealers, many small-to-medium size operations have recently started using them.
Debt-Cancellation Agreements
The Texas legislature, at the urging of TIADA, authorized in 2009 the inclusion in a motor vehicle retail installment contract of a charge for a debt cancellation agreement. The debt cancellation program can be self-operated by the dealer or can be based on a commercial product with some type of re-insurance (see Debt Cancellation Coverage T e x a s
D e a l e r
December 2015