THE FRONT ROW
JULY 2024 • WSIADA.COM THE MAGAZINE FOR WASHINGTON INDEPENDENT AUTO DEALERS SINCE 1988 HOT
Revving Up for Success: Hot Summer, Hot Deals, & Hot Topics at July’s Education Fair PREVENTING Bank Fraud FEATURE Customer Trust in Dealerships is Dropping. What’s Next? Compliance as a Cultural Force How to Turn, Turn, Turn Used Cars PLUS! Knowledge is Power: Cyber Insurance 101 EDUCATION FAIR: EAST SPOKANE, WA TUESDAY, JULY 16 Doubletree by Hilton 322 N. Spokane Falls Court EDUCATION FAIR: WEST SEATTLE, WA THURSDAY, AUGUST 29 Doubletree by Hilton 18740 International Boulevard
TOPIC
1000+ UNITS
WEDNESDAY, JULY 24
9 LANES | 9:00 AM PT
Celebrating 7 70 y years o of s serving c clients i in t the s state o of W Washington. L Let u us a appreciate y you!
Thank you for choosing Manheim Seattle for your auction inventory needs! We look forward to celebrating this milestone anniversary with you.
• Pre-Event Sale giveaways - $500 Early Bird Drawing & $500 End of Sale Drawings - July 10th and July 17*
• Event Day Attendance Gift
• Event Day End of Sale Prizes*
• Auction provided lunch
• Highline Sale Inventory
*Must be present to win
ATMANHEIMSEATTLE
THE FRONT ROW
The official magazine of the WASHINGTON STATE Independent Auto Dealers Association
707 Auburn Way South | Auburn, WA 98002
T: 253-735-0267 staff@wsiada.com | WSIADA.COM
EXECUTIVE BOARD
Badie Darwazeh, Board President Seattle Auto Haus | President@wsiada.com
Randy Fletcher, Board Vice-President In-N-Out Auto Sales | VPresident@wsiada.com
Emil Scarsella, Board Treasurer Town & Country Auto Sales | Treasurer@wsiada.com
J.T. Curry, Board Secretary Motors Northwest | Secretary@wsiada.com
Wasim Azzam, Chairman of the Board All Right Auto Sales | Chairman@wsiada.com
CHAPTER PRESIDENTS
Tony Bonnallie – North Cascade Mission Motors | NoCascade@wsiada.com
Denis Costin – North Sound Independent Motors | NoSound@wsiada.com
Vacant Position – South Sound SoSound@wsiada.com
Rachel Frankel - Vancouver Top Auto Brokers | Vancouver@wsiada.com
Vacant Position – Yakima Yakima@wsiada.com
Vacant Position – Tri-Cities Tri-Cities@wsiada.com
Vacant Position – Spokane Spokane@wsiada.com
AT-LARGE BOARD
Ken Williamson, Board President (Emeritus) John’s Auto Mart, LLC
WSIADA STAFF
Rick Olson, Director of Operations
Mila Froman, Membership Manager
Mary Walton, Accountant
Lane Schulz, Event Coordinator
Production Editor Professional Mojo Copyright
2 DIRECTOR’S MESSAGE: REVVING UP FOR SUCCESSHOT SUMMER, HOT DEALS, AND HOT TOPICS AT JULY’S EDUCATION FAIR
Its time for the Washington State Independent Auto Dealers Association’s Education Fair in Spokane on July 16, 2024.
6 PREVENTING BANK FRAUD
Year after year, bank fraud continues to be a top compliance issue in dealerships. Dealers must have solid policies in place to deal with these claims.
8 CUSTOMER TRUST IN DEALERSHIPS IS DROPPING. WHAT’S NEXT?
A recent Cox Automotive study revealed a decline in trust towards dealership service, with only 54% of vehicle owners citing “trust” as a reason for returning to the dealership for service in 2023, down from 62% in 2021. This points to a sizable shift in customer loyalty and satisfaction.
10 THE POWER OF EDUCATIONAL CONTENT BOOSTING SALES BY CREATING INFORMED CAR BUYERS
In today’s competitive auto industry, customer education is more than just a value-added service; it’s a strategic imperative
that can significantly
12 KNOWLEDGE IS POWER: CYBER INSURANCE 101
In its simplest definition, cyber insurance can cover financial losses sustained from a cyberattack and cover your liability for a data breach involving customer information.
13 HOW TO TURN, TURN, TURN USED CARS
The market is trickier today. “You must be sharper today. The bar is higher than in 2020. Brush up on your closing skills.”
14 COMPLIANCE AS A CULTURAL FORCE
It’s imperative for businesses to encourage colleagues and team members to practice doing “the right things” when no one is looking.
15 FTC PRESENTS ENFORCEMENT REPORT TO CFPB
Consumers, who already have limited options may find it impossible to secure financing as banks and third-party creditors reduce the funding to dealers lacking the resources to meet the requirements of the rule. 17 MEMBERSHIP APPLICATION
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2024 | WSIADA
CONTENTS JULY 2024 16 SERVICE PROVIDER DIRECTORY | BC AUCTION LISTING
differentiate
and enhance customer loyalty.
a dealership
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