the
FRONT ROW The official publication of the Washington State Independent Auto Dealers Association
February 2022
Is Your Dealership
UNDERINSURED
in Today’s Economy? Sculpting Legislation for Our Industry Dealer input is critical
Focus on Fraud
PLUS
Top 7 Ways Dealers Can Turbocharge Their Used Car Inventory
MEETING YOU WHERE YOU ARE
magauctions.com
2 | THE FRONT ROW | WSIADA.COM FEBRUARY 2022
@mcconkeyauctiongroup
CONTENTS FEBRUARY 2022
the
FRONT ROW
3 SAVE THE DATE FOR THE 2022 CONVENTION
The official magazine of the
WASHINGTON STATE INDEPENDENT AUTO DEALERS ASSOCIATION WSIADA.COM 707 Auburn Way South | Auburn, WA 98002 T: 253-735-0267 | F: 253-804-0844 staff@wsiada.com | WSIADA.COM EXECUTIVE BOARD Wasim Azzam, Board President-Elect
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All Right Auto Sales | President@wsiada.com Position Available, Board Vice-President VPresident@wsiada.com J.T. Curry, Board Secretary Motors Northwest | Secretary@wsiada.com Emil Scarsella, Board Treasurer
Town & Country Auto Sales | Treasurer@wsiada.com CHAPTER PRESIDENTS Blake Walker – North Cascade Walker Motor Works | NoCascade@wsiada.com Badie Darwazeh – North Sound Seattle Auto Haus | NoSound@wsiada.com
PRESIDENT-ELECT’S MESSAGE: “SUCCESS IS OVERCOMING YOUR FEARS AND UNDERSTANDING THAT YOU CONTROL YOUR DESTINY.”
What most business owners don’t realize is the significance of a business association that can bring business owners of different skills together for one goal and that is to educate, assist, and protect.
FOCUS ON FRAUD
This survey shares fraud trends, including income forgery and employment misrepresentation, and dealer-perpetuated fraud.
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FTC EXPANDS DATA SECURITY REQUIREMENTS, IMPACTING DEALERS
David Magarrell – South Sound (Elect)
At the end of October, the Federal Trade Commission announced its expansion of the Safeguards Rule to better protect consumer financial information from cyberattacks and security breaches.
Auto Sales Consultants, LLC | SoSound@wsiada.com Open Position – Vancouver Vancouver@wsiada.com Open Position – Yakima Yakima@wsiada.com Rhonda Coffin – Tri-Cities USA Auto Sales, Inc | Tri-Cities@wsiada.com Open Position – Spokane Spokane@wsiada.com
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EXECUTIVE DIRECTOR’S MESSAGE: SCULPTING LEGISLATION FOR OUR INDUSTRY WSIADA needs to have
more of a role in developing legislation aimed at helping our industry.
AT-LARGE BOARD Randy Fletcher, Board President (Emeritus) In-N-Out Auto Sales
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AJ Hamedian, Board President (Emeritus) Excellent Choice Auto Sales, LLC Ken Williamson, Board President (Emeritus) John’s Auto Mart, LLC WSIADA STAFF Brian Dansel, Executive Director Rick Olson, Education Manager Mila Froman, Membership Manager PRODUCTION EDITOR Professional Mojo Copyright 2022 WSIADA
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IS YOUR DEALERSHIP UNDERINSURED IN TODAY’S ECONOMY?
If you’ve been needing an excuse to review your dealers/garage insurance policy and make sure it is in line with 2022 moving forward this may be the time.
DATA SHOWS DEALER SALES ACTIVITY HEALTHIER WHEN THEY KEEP AD BUDGETS INTACT
Automotive marketers all over the U.S. have continuously reevaluated strategies for 2021 ad budgets.
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TOP 7 WAYS DEALERS CAN TURBOCHARGE THEIR USED CAR INVENTORY
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SERVICE PROVIDER DIRECTORY
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READ & RESPOND QUIZ
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AUCTION DIRECTORY
THE FRONT ROW | WSIADA.COM FEBRUARY 2022 | 1
“Success is overcoming your fears and understanding that you control your destiny.” BY WASIM AZZAM, WSIADA BOARD PRESIDENT-ELECT / ALL RIGHT AUTO SALES Productive and optimistic businessmen and businesswomen know that there are many factors that contribute to being successful in business, such as honesty, integrity, good strategy that provides a clear roadmap and a set of guiding principles or rules that define the actions employees should and should not take to achieve desired goals, a marketable product, quality service, and an efficient process to implement all of that. What most business owners don’t realize, however, is the significance of a business association that can bring business owners of different skills together for one goal and that is to educate, assist, and protect. The Washington State Independent Auto Dealers Association (WSIADA) was formed in 1953 to support and assist independent dealers and ensure a strong industry. I am honored to be elected as the new president of WSIADA (Washington State Independent Auto Dealer Association). My commitment to you is that I will work with the respected board members and staff to provide all members the following: • The education they need to help manage a compliant and successful 2 | THE FRONT ROW | WSIADA.COM FEBRUARY 2022
business by coordinating plans with the Department of Licensing and Department of Revenue for continued education and updates on new rules and regulations. Helping members gain access to valuable resources. Helping members with business networking opportunities. Helping members with new perspectives and guidance that will ensure proper and compatible performance for their business. Provide members with huge savings on supplies.
partners. Partners in obtaining the right education so they can get the job done right and avoid painful social and financial costs. Partners because they all develop professionally inside an association by learning to do better every day knowing that there is someone at the Association who is ready to answer their questions and concerns all week long. Partners because hundreds of them can network together and take advantage of doing business with quality vendors or avoid those who are of bad quality. Partners because they are all united to change any legislation that may otherwise be harmful to all.
Most importantly, we will work with our own lobbyist or professional advocate in the capital of Olympia to influence governmental decisions that will benefit all members. Let’s face it, we may be good at managing our dealerships, but as owners, we lack the knowledge and the political influence when it comes to addressing our concerns and defending our businesses against new legislations that may be good and advantageous for other industries but not for our industry; therefore, the Association will always have its own lobbyist in Olympia.
The board and I would like to thank all current WSIADA members and encourage all those who are not yet members to take advantage and join the Association for a much more successful and prosperous business.
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It is normal that outside a business association business owners of the same industry call each other competitors, but inside an association these owners are truly
Furthermore, the Association actively monitors motor vehicle legislation and lobbies for interests that benefit the members and the industry. The Association proudly works with adjacent industries that benefit our members’ daily operations by providing access and discounts on services and products such as commercial insurance, bond, identity theft, lending, marketing, and much more. If you have any questions, don’t hesitate to contact our office. Best regards to you all n
SAVE the DATE CHELAN, WA
June 13-16, 2022 CAMPBELL’S RESORT AT LAKE CHELAN
104 W Woodin Avenue, 98816
WSIADA 2022 Convention
Breakfast, lunch and dinner are included each day with registration. The last full day features events at local businesses for entertainment, which may include golf tournaments, horse riding, and more! Families will be welcome to join. Save the date and look for more details soon!
THE FRONT ROW | WSIADA.COM FEBRUARY 2022 | 3
u EXECUTIVE DIRECTOR’S MESSAGE
Sculpting Legislation for Our Industry Dealer input is critical
BY BRIAN DANSEL, EXECUTIVE DIRECTOR As you have heard me talk about in these articles as well as at chapter meetings, WSIADA needs to have more of a role in developing legislation aimed at helping our industry. Such is the case with the pre-filed Senate Bill 5495, which would prohibit scrap dealers from purchasing catalytic converters except from commercial enterprises and vehicle owners. Scrap dealers who knowingly purchase or receive stolen catalytic converters would face misdemeanor charges. Similar laws are being passed in other states as catalytic converter thefts sweep the country. Senator Jeff Wilson (R-Longview), the bill’s author, said he modeled his legislation after a similar law that takes effect in Oregon next month, out of concern that it will drive thieves north of the border.
“Every man owes a portion of his time and money to that industry or business from which he derives his livelihood.” -THEODORE ROOSEVELT
Wilson’s bill, introduced for consideration during the 2022 legislative session, also requires scrap metal dealers to confirm ownership when catalytic converters are resold, and maintain records of vehicle identification numbers. Cash payments could not be made on the spot and would have to be delayed at least five days. The WSIADA Board spoke about Senate Bill 5495 at their last board meeting and decided to come out in favor of the bill. I will work with our Lobbyist to provide as timely an update as possible, but what would help us out would be to hear from you all regarding converter theft in your area. We need hard (and correct) numbers to provide both Senator Wilson’s team as well as our lobbyist so that we have a better shot at moving this bill forward. Here is a link to the bill as it currently reads: lawfilesext.leg. wa.gov/biennium/2019-20/Pdf/Bills/Senate%20Bills/5495. pdf?q=20220106141803 Please give it a read and let me know your thoughts. As always, we know the best answers come from you all who face these issues on a daily basis. Here is to a great 2022—and let’s hope for a legislative victory out of the gates. Sincerely,
Brian
4 | THE FRONT ROW | WSIADA.COM FEBRUARY 2022
EVENTS CALENDAR TITLE WORKSHOPS (Virtual Meetings)
February 16 – 9am-12pm
wsiada.com/title/February2022 March 16 – 9am-12pm wsiada.com/title/March2022
CHAPTER MEETINGS March 22 – Vancouver
6pm – 9pm, Hilton Vancouver 301 W 6th Street Vancouver 98660
March 29 – Tri-Cities
7pm – 10pm, Clover Island Inn 435 N Clover Island Drive Kennewick 99336
March 30 – Yakima
7:30am – 10am, Hilton Garden Inn 401 E Yakima Avenue Yakima 98901
April 5 – South Sound
7:30am – 10am, Griot’s Garage 3333 S 38th Street Tacoma 98409
April 12 – North Sound
7pm – 10pm, Courtyard Seattle-Kirkland 11215 NE 124th Street Kirkland 98034
April 13 – North Cascade
7:30am – 10am, Drager’s International 1645 Walton Drive Burlington 98223
April 19 – Spokane
6pm – 9pm, Hilton Garden Inn 9015 W Highway 2 Spokane 99224
ANNUAL CONVENTION June 13 – 15th
Campbell’s Resort at Lake Chelan 104 W Woodin Avenue Chelan 98816
Is Your Dealership Underinsured in Today’s Economy? BY TODD SHEPARD, FOUNDER OF SHEPARD & SHEPARD INSURANCE SOLUTIONS
A million dollars used to be the gold standard. If I could only be a millionaire I’d be set!….or would I? As Dr. Evil learned several years ago, it seems a million dollars just isn’t the same as it used to be. In early January, Apple became the first public company in history to hit a $3 trillion market cap. A trillion is equal to one million million – and they have three of them! Read the news lately? It seems every day we hear of the government spending a trillion here and a trillion there like its nothing. So how does this have any impact on insurance? I mean, it’s not like anyone is ever going to sue for a trillion dollars, right? Rest assured they probably won’t, or at least not with any success, however, the constant chatter including these large numbers has changed the mindset of the litigious to the point where a million dollars no longer seems as big of a settlement as it once was – and our lawyer friends know it. If you’ve been needing an excuse to review your dealers/garage insurance policy and make sure it is in line with 2022 moving forward this may be the time. Over the years when placing insurance for auto dealerships, we have found most dealers choose a liability limit ranging from $100,000 on up to a $1 million. The decision is usually made based on either cost, a recommendation by the agent, a landlord requirement, or because it’s the only limit offered by the carrier. What this means is in the event of a claim filed against the dealership, the insurance available is
equal to the chosen limit with the highest amount available on a garage policy usually up to $1 million. So, what happens if someone sues for more than a million? This is where an Excess Liability Insurance policy comes into play. Excess Liability insurance is a type of policy that provides limits above the underlying liability policy. It does not broaden the stated coverage; it provides higher limits on top of the original policy. The primary purpose of Excess Liability insurance is to offer an added layer of protection in case the underlying insurance is exhausted of all possible resources. You may have heard the term Umbrella coverage before. An Umbrella and an Excess policy are similar yet not the same. Although an Umbrella is a type of excess policy, it is designed to cover multiple policies and is not available for all commercial risks. Because a garage insurance policy is made of multiple pieces, the main exposure being the liability to another party, the focus is to increase that liability limit. This is done by adding an Excess Liability policy. Here’s how it works; when a claim is reported to an insurance company, the first policy that will cover all financial losses and damages is the underlying policy (your garage policy). If the claim exceeds the limits of the underlying policy, the Excess Liability policy kicks in, picking up the remaining costs that were not covered by the underlying insurance.
To better understand, here’s an example scenario: Another driver is injured due to an accident caused by someone test driving one of your vehicles. The injured party files a claim against you, and the court decides that you are responsible for the incident. The injured party wants a $1,500,000 settlement, but your Garage Liability insurance has policy limits of up to $1,000,000. The underlying policy covers the first million and the Excess Liability covers the remaining $500,000. Without it, you would have to somehow figure out how to pay that $500k out of pocket. How much? The cost of an excess liability policy varies. A $1 million excess can range from under $1000 to several thousand, depending on your underlying exposure, number of staff, plates, and other factors. Unsure if an excess policy is a good fit for your dealership? A quick calculation is to determine if the assets of your business exceed your current liability limits. If they do, you should consider the added protection of an excess policy. Contact your insurance agent and start the discussion this month. n Todd Shepard is the founder of Shepard & Shepard Insurance Solutions and a regular contributor to the Front Row. For a professional review of your insurance policy or quote call 855-396-0488 or visit www. shepquote.com THE FRONT ROW | WSIADA.COM FEBRUARY 2022 | 5
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.
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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.” n
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 | 7
WSIADA UPDATES
NEW ONLINE PORTAL
The Association has been working diligently with upgrading our systems to allow dealerships to access their data through a portal access. This feature will be available in April once the migration and testing has been completed from our old system. Some of the new features this portal will give dealerships and their staff will include online payment options for billing and invoicing, event registrations without the worry if there is an active membership or not, membership renewals, verification of education related credits and managing the mailing lists that we will have available. Other options will come online as we get dealerships used to the portal access. We will be sending out an email and USPS letter to dealerships very shortly with requests to update digital contact information mainly. When you receive it, regardless of your membership status, fill it in and return it to the WSIADA office.
NEW TRAINING COURSES:
2022 is bringing some new opportunities for training available for independent auto dealers in Washington State. The Education department is working with the National IADA to provide training for Buy Here/Pay Here and Lease Here/Pay Here for dealerships interested in, or are currently conducting, this sales option to increase their revenue. We have updated the Title Workshop program for 2022 and have included a special item for attending the event. Dealerships that have their title clerk attend now get an included gift item as part of the registration. This item is a Title Clerk stamp, a $40 value! Dealers in 2021 requested training with regards to Department of Revenue topics. 8 | THE FRONT ROW | WSIADA.COM FEBRUARY 2022
We are working to make that happen. We will notify you as they become available.
CHAPTER MEETINGS:
We have our regional spring season Chapter Meetings available for dealerships to RSVP online now. During the fall season meetings, Brian Dansel was introduced to those who attended and received some valuable feedback on future meetings. One of the feedback we received requested to not hold the meetings on Mondays as dealerships are working through their weekend sales. We heard you clearly and now meetings will be scheduled on either Tuesdays or Wednesdays, depending on your location. During the Tri-Cities Chapter Meeting, the attendees elected Rhonda Coffin of USA Auto Sales, Inc (Kennewick) as their Chapter President. We still have several Chapter positions open in Yakima, Spokane, and Vancouver. If you’re a Dealer Principal and active member of the association, consider becoming the Chapter President in your area to assist your peers with questions or concerns that can be brought to the Association.
LEGISLATION
As Brian mentioned in his article, the Association is planning to work with Senator Jeff Wilson on his Senate Bill concerning Catalytic Converter’s and scrap dealers. This is one of the many Legislativerelated the Association will be working on to help our independent dealers in Washington State. Brian is always looking for ideas, concerns, and subjects to bring to our Association Lobbyist to protect and benefit your dealership operations. Send those ideas to Legislative@wsiada.com n
PLACE YOUR AD IN WSIADA’S MONTHLY MAGAZINE Stay in front of dealership DECISION MAKERS across Washington. REACH YOUR TARGET AUDIENCE with affordable rates. It’s advertising to GROW YOUR BUSINESS. TO LEARN MORE, VISIT: wsiada.com/memberships/ associate-membership Email advertising@wsiada. com for ad rates or to secure space.
Download the WSIADA App!
Online shopping, e-news, alerts and more! In a desire to be more accessible to dealers and maintain a footing in the ever expanding digital age, WSIADA has its own mobile app for dealerships to utilize features that the Association has available. The app is for members and nonmembers. It’s free and easily downloadable through your smartphone app store. Options that are available: • • • •
Dealer Alerts Events Calendar Online Store Smart Dealer Auction Discounts
• • • •
the Front Row Magazine Dealer Auction Schedules Sponsor Contact Information and much much more
IT’S FREE from these app stores: For More Information Contact: WASHINGTON STATE INDEPENDENT AUTO DEALERS ASSOCIATION 253-735-0267 | staff@wsiada.com | WSIADA.COM
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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 10 | THE FRONT ROW | WSIADA.COM FEBRUARY 2022
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
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. n
Data Shows Dealer Sales Activity Healthier when They Keep Ad Budgets Intact By Lauren Donalson, Senior Director of National Accounts at PureCars Although the pandemic was still a major force in the world, the automotive industry entered 2021 having rebounded from the earliest days of the shutdowns. If anything, automotive brands and dealers found themselves having to address a lack of inventory, not a lack of demand from shoppers. Automotive marketers all over the U.S. have continuously reevaluated strategies for 2021 ad budgets. Some retailers followed the belief that they should pull back on advertising since they weren’t worried about promoting vehicles when there is a lack of inventory. However, this has proven to cause deeper problems toward long-term customer relationships and loyalty.
If anything, those dealers who wisely shifted their advertising message have fared better than those who pulled their advertising altogether. What we’ve learned through the pandemic It is true, hindsight is certainly 20/20. With months of inventory shortage history now in the rearview mirror, there is a lot that can be gleaned from understanding dealer ad spend patterns, especially when industry observers look at the trends of dealers who cut off ad spending compared with those that did not. Simply put, the data suggests dealers who continued to spend on ad strategies grew their market share, and those who cut their ad spending lost sales. This data insight also includes ad spending strategies this past summer that may have been altered as a result of the ongoing
microchip shortage that saw fewer new cars and trucks hitting dealer lots. Reduced ad budgets equal larger sales drop-off Unfortunately for those dealers who pulled back on ad spending, they ended up feeling more pain in overall sales dropoff compared with dealers who modified advertising messages and strategies and increased budgets. For example, between the months of March and August earlier this year, dealers who decreased their advertising spending between 50% and 89% saw their sales volume drop by 28%. However, those dealers who actually increased their advertising spend by just 9% during the same time period saw a much lighter drop in sales at just 9%, according to PureCars dealership advertising spending data from September. The main difference in philosophy is what limited the drop off in sales performance. Dealers who pulled back in advertising looked at their showroom traffic in relation to lower inventory levels and thought there was no need to promote deals on new cars and trucks. However, savvy dealers looked at this past summer as an opportunity to make varying levels of budget increases in their spending. What’s more, they realized promoting vehicles that may or may not be on the lot was not the right thing for their customers. Instead, they modified their advertising messages and instead focused on promoting vehicle buy-back opportunities to increase inventory, and they also promoted service and repair options to boost revenue further. When customers come in for service and repair it gives dealers and their staff an excellent chance to discuss buy-back options with customers who give strong consideration to increased trade value and a discussion on other inventory on the lot. n
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HONORING WSIADA PAST PRESIDENTS 2018 – 2021: AJ Hamedian, Excellent Choice Auto Sales 2017 – 2018: Mo Aliabadi, South Tacoma Auto 2015 – 2016: J.T. Curry, Motors Northwest 2012 – 2013: Mo Aliabadi, South Tacoma Auto 2011 – 2012: Robert Reid, Reid & Johnson Motors 2009 – 2011: Bill Heald, Maple Leaf Motors 2008 – 2009: Danny Archibald, 2006 – 2008: Ken Williamson, John’s Auto Mart 2005 – 2006: John Zuckerman, Aurora Classic Coaches 2004 – 2005: Bill Heald, Maple Leaf Motors 2003 – 2004: David Randall, Archibalds 2002 – 2003: John Zuckerman, Aurora Classic Coaches 2001 – 2002: Art Manger, I-Deal Auto Sales 2000 – 2001: Pat Feutz, Gene Pankey Motor Co. 1999 – 2000: Mike Van Dinter, A-1 Auto Sales 1998 – 1999: Don Castle, I-Deal Auto Sales 1997 – 1998: Robert Reid, Reid & Johnson Motors 1996 – 1997: Emil Scarsella, Town & Country Auto Sales 1994 – 1996: Jack Morris, Greg Morris Co. 1992 – 1994: John St. Laurent, St. Laurent Motors 1990 – 1992: Dave Kuper, D.K.’s Motor Co. 1989 – 1990: Jim Holder, Al’s Used Cars 1988 – 1989: Ray Harley, Ray’s Auto Sales 1987 – 1988: Greg Morris, Greg Morris Co. 1986 – 1987: Ray Harley, Ray’s Auto Sales 1985 – 1986: Gary Giacomini, Gary’s Fine Cars 1983 – 1985: Irv Rohrich, Rohrich Chevrolane 1982 – 1983: Bill Newton, Purple Key Motors 1981 – 1982: Gene Pankey, Gene Pankey Motors Co. 1980 – 1981: Frank Granat, Aurora Car Mart 1978 – 1980: Howard “Mac” Ruddell, Ruddell Auto Sales 1976 – 1978: Bill Newton, Purple Key Motors 1975 – 1976: Bob Ochsner, Bob Ochsner Cars 1974 – 1975: Walt Friel, Summit Motors 1973 – 1974: Don Stephens 1972 – 1973: Dick Giovi 1971 – 1972: Howard Vande Kieft 1970 – 1971: Carl North 1969 – 1970: Allan Barry 1968 – 1969: Joe Rodgers 1967 – 1968: Eddie Bawyn 1965 – 1967: Ralph Look 1964 – 1965: Dick Wyman 1963 – 1964: Archi Caraway 1962 – 1963: Chuck Suvan 1961 – 1962: Roger Tallakson 1960 – 1961: D.L. Burd 1959 – 1960: Bill DeRango 1958 – 1959: Morrie Stotsenberg 1957 – 1958: Bill Deupree 1955 – 1957: Don Medley
Vehicles Hard to Get, But Auto Financing Isn’t BY STEVE FINLAY Automotive consumers currently may struggle to find the vehicle they want at a decent price amid an inventory shortage. But obtaining auto financing is a cinch today for most people. “Availability of funds is higher now,” says Andy Mayers, whose duties at Cox Automotive include serving as the company’s lender solutions strategist. “It’s easier for people to get credit.” That’s somewhat mollifying for today’s inmarket car consumers who face an inventory dearth caused by a global microchip shortage. It has resulted in automakers cutting production and dealers raising prices as demand outpaces supply.
basically a ‘grid’ and eliminates the need to resubmit loan applications” if the original submission requires amending.
“If someone changes terms, you don’t have to refile,” he says. “That benefits everyone – the consumer, dealer and lender.” Another digital trend Mayers cites: Online auto shoppers now can readily upload and send so-called loan stipulations such as a driver’s license, proof of employment and W-2 forms.
Another trend Mayers notes is the overall increased popularity of digital auto retailing. It gained traction during the height of the COVID pandemic. Cox Automotive says its data indicates dealers who offer flexible digital experiences are five times more likely to get a shopper’s lead submission, experience a 46% higher close rate than from other lead sources, and earn 24% higher gross profit per deal. Consumer satisfaction with car buying has increased with digitization, reaching an alltime high of 72% in 2021, up from 60% in 2019, according to a Cox Automotive study. Most auto consumers follow a hybrid
“The higher prices haven’t affected the availability of credit,” Mayers tells WardsAuto. Because the product shortage has hampered vehicle sales, there are fewer auto loans these days. But the amount of money lent typically is higher than before, “a $43,000 loan vs. a $34,000 loan,” Mayers cites as an example. The scarcity of dealer lot stock has hit automakers’ financing arms more than other lenders. “It’s been a negative for the captives,” Mayers says. Credit unions, on the other hand, “are capturing more business.” His work entails tracking lending trends, particularly as technology plays a greater role in the credit-driven automotive marketplace. For instance, technology now allows lenders to respond to a credit application by providing a “menu” of term options depending on different deal structure scenarios, such as down payment amount and loan-to-value, or how much money a car buyer wants advanced in relation to the price of the vehicle. “Lenders now have the ability to return multiple decisions,” Mayers says. “It’s
It’s not particularly hard to forge a pay stub, but technology allows lenders to better verify stipulation information such as income. “Say that someone applying for a loan is a truck driver living in a particular area,” Mayers says. “The technology can match the demographics, such as job-related income levels for people living in specific geographical areas.” When applying for auto loans, some people exaggerate their income and job titles to enhance the chances of credit approval. The auto-financing world is full of stories about that, such as a cook claiming to be a chef. But conversely, many consumers tend to under-report their earnings, especially if they are in higher income brackets, Mayers says. “Their thinking is, ‘That’s enough information for me to give.’”
approach that consists of both online shopping and in-store visits. But Mayers foresees a day when A-to-Z online auto buying, including digital contracting, becomes commonplace. He notes several Cox Automotive units, such as Dealertrack, are working toward that. It includes what he calls a “lights-out” lending process. “That means everything is in order and all the work is done when the contract package is received.” Comparing complete digital auto retailing and lending to autonomous-vehicle development, he says, “We’re not at level 5 yet,” the industry-designated point at which a vehicle totally drives itself. n Steve Finlay is a retired WardsAuto senior editor (Steven.Finlay1950@gmail.com).
THE FRONT ROW | WSIADA.COM FEBRUARY 2022 | 13
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.
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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
6.
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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.
WSIADA FAQs DO I REALLY NEED COMMERCIAL PROPERTY OR CAN I USE MY HOME AS AN OFFICE?
Washington State requires that dealerships be in a commercial zoned property with utilities attached. Homes would not follow this requirement.
DO WE HAVE TO PAY TO ATTEND CHAPTER MEETINGS?
You may attend a Chapter meeting for free. For the education credits to be applied to your dealership, you will need to pay a fee of $50.
DO YOU HAVE NEW DEALER EDUCATION CLASSES IN OTHER PARTS OF THE STATE?
Currently, we do not provide this course other than through webinar online since the pandemic began. Prior to the pandemic, and possibly after, we may provide courses again in Auburn and Spokane depending on the interest.
DO YOU TAKE CASH?
We are not set up for cash transactions. We only accept Debit/ Credit Cards on our webstore or checks at our retail locations.
HOW CAN I GET A WHOLESALE DEALER LICENSE IN WASHINGTON? Washington State eliminated the Wholesale Dealer Endorsement for new dealers in 2018. There are no plans currently to reinstate this license endorsement. FOR MORE: wsiada.com/faqs
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 THE FRONT ROW | WSIADA.COM FEBRUARY 2022 | 15
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SERVICE PROVIDER DIRECTORY WSIADA service providers are best in class.
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ACV Auctions (800) 553-4070 acvauctions.com
Adesa Portland
(503) 492-9200 www.adesa.com/portland
Adesa Seattle
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Bidbuy Dealer Auctions (844) 505-1555 bidbuydealer.com
Copart Auto Auction (253) 847-8300 copart.com
Insurance Auto Auction (IAA) Spokane (509) 891-2388 iaai.com
Kaman Auctions (425) 640-5111 kamanauctions.com
MAG Auctions Spokane
Shepard & Shepard Insurance Solutions
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Reliable Credit Association (253) 240-1818 reliablecredit.com
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(503) 286-3000 manheim.com
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(800) 537-6571 key.com/small-business/services/ merchant-services
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Yarbro Auctioneers
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Legal Services
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Insurance Auto Auction (IAA) Seattle
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(509) 765-6869 yarbro.com
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Kinetic Advantage
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CTM Unlimited Auctions (877) 396-5808 ctmunlimitedauction.com
Bonds and Commercial Insurance
Washington Retail Association (360) 943-9198 waretailservices.com
321 Ignition
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AutoZone
(650) 409-2526 sellyautomotive.com
(866) 727-5317 sc53@autozone.com Learn more on page 7
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Southwest Dealer Services (206) 571-3068 swds.net
Vehicle Services PRco
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Floor Plan Companies AFC
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THE FRONT ROW | WSIADA.COM FEBRUARY 2022 | 17
READ & RESPOND FEBRUARY 2022 The WSIADA READ AND RESPOND quiz allows the reader to earn one hour of continuing education credit toward the dealership’s required annual renewal. Payment options are available for members of the association and non-members also for notification to the Washington State Department of Licensing. A passing grade will be granted for scores of 80% or greater. If a passing grade is not granted, the reader may retake the quiz. SEND YOUR COMPLETED QUIZ TO WSIADA [Mail: 707 Auburn Way South, Auburn, WA 98002 or Fax: 253-804-0844 or Email: education@wsiada.com] Please be advised that the information contained in WSIADA’s the Front Row is, to the best of our knowledge, current and correct. However, we caution readers not to use the information provided to them as final authority. Its purpose is to be a guide. Any legal advice should be regarded as general information. It is strongly recommended that one contact an attorney for counsel regarding specific circumstances. Some articles may express opinions and/or suggestions for best practices. Likewise, the appearance of advertisers or their identification as members of WSIADA, does not constitute an endorsement of the products or services featured. q I have read and understand the disclaimer above. Dealership Name
Motor Vehicle Dealer No.
Date
Quiz Taker’s Name Signature Email Position Business Phone Fax CIRCLE THE CORRECT ANSWER.
1) Associations actively monitor motor vehicle legislation and lobby for interests that benefit the members and industry? a) TRUE b) FALSE 2) Dealerships that treat a consumer as a human being will increase sales a) TRUE b) FALSE 3) Dealers taking advantage of text messaging advertising because these opened and read within how many minutes of being received? a) 3 minutes b) 5 minutes c) 8 minutes d) 10 minutes 4) Streaming services are an effective way to advertise buyback incentives. a) TRUE b) FALSE
5) Direct calls for commercial vehicles increased by what percentage during the pandemic? a) 133% b) 150% c) 210% d) 322% 6) Frank McKenna stated that “a lot of dealers think fraud will happen to them.” a) TRUE b) FALSE 7) What percentage of subprime lenders reported a significant uptick in fraud risk from the pandemic? a) 12% b) 34% c) 58% d) 64% 8) Which program was a result of the Gramm-Leach-Bliley Act? a) Risk Based Pricing Rule b) Red Flags Rule c) Safeguards Rule d) Used Car Rule
18 | THE FRONT ROW | WSIADA.COM FEBRUARY 2022
9) What is Excess Liability insurance? a) It’s the same as Umbrella coverage. b) It protects dealerships from being sued by consumers. c) It’s an addition to the Garage Keepers liability. d) It’s a type of policy that provides limits above underlying liability policy. 10) Senator Jeff Wilson has introduced a Senate Bill that will prohibit scrap dealers from purchasing catalytic converters with exception of commercial enterprises and vehicle owners. a) TRUE b) FALSE
The Washington State Independent Auto Dealers Association was created by Independent auto dealers for Independent auto dealers in the state of Washington since 1953.
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CONTINUING EDUCATION OPTIONS AND PRICE DIFFERENCE: EDUCATION
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Title Workshop (3 hours) Annual WSIADA Conven�on (5 hours)
*RECENT DEALER ADVICE RESULTED IN $5,000 SAVINGS ON ONE DEALER TRANSACTION **CONTINUING EDUCATION FEES ARE EXCLUDED FROM INVOICING OPTION
AUCTION LISTINGS n ADESA SEATTLE adesa.com/seattle Tuesday: Consignment, 9:30AM Alternate Tuesday: Specialty, 8:30AM Thursday Night: InOp Sale, 4:45PM n ADESA PORTLAND adesa.com/portland Thursday: Consult website n BIDBUY DEALER AUCTIONS (844) 505-1555 bidbuydealer.com Weekly Thursday Auctions 8:00AM to 3:00PM and previews Tuesday and Wednesdays 12:00PM to 3:00PM n COPART copart.com Times vary: Consult website n CTM UNLIMITED ctmunlimitedauction.com See website for auction dates and times. n DAA NORTHWEST magauctions.com/daanw Weekly auctions: Thursdays, 9:00AM Monthly promotional event auctions: Wednesday, 2:00PM & Thursday, 9:00AM
n DAA NORTHWEST (CONTINUED) Monthly MotorSports auctions: Thursdays, 11:00AM (Lane 8) Monthly RV auctions: 11:00AM (Lane 8) Heavy Metal auctions, 8:30AM as scheduled (Lane 8) NOTE: MotorSports, RV and Heavy Metal auction For dates, visit: daanwmotorsports.com
n IAA - INSURANCE AUTO AUCTIONS SPOKANE iaai.com (509) 891-2388 See website for dates and times.
n DAA SEATTLE magauctions.com/daasea Friday: Dealer and Fleet/Lease, 9:00AM Alternate Friday: Heavy Metal,* 9:00AM (Lane 8) Monthly GSA Public Auctions, 1:00PM *Mechanically-challenged/cosmetically damaged/non-running inventory
n MANHEIM PORTLAND manheim.com/locations/PAA/events Tuesday: Open Sale, 9:00AM
n EHLI AUTO AUCTIONS ehliauctions.com Last weekend of every month n IAA - INSURANCE AUTO AUCTIONS SEATTLE iaai.com See website for dates and times.
n KAMAN kamanauctions.com Thursday, Noon
n MANHEIM SEATTLE manheim.com/locations/SSAA/events Monday: OVE Event Sales; Foothills Toyota Mobile Sale, 1:00PM in Burlington, WA Wednesday: General Sale Weekly, 9:00AM All sale dates and times are subject to change. Please verify with the Auction or manheim.com.
WSIADA TITLE WORKSHOP $125 MEMBER // $175 NON-MEMBER
This Workshop is designed to give dealers an in-depth understanding of the business practices, state/federal requirements, and forms needed to complete a transaction. This course offers 3 hours toward Continuing Education requirements and allows attendees to ask the instructor individual and dealership-specific questions. Any employee of a dealership may take this course. Continuing Education hours are issued to the dealership, not to individuals attending. The curriculum for this workshop includes, but is not limited to: • How to transfer a title properly in Washington State • Avoiding common dealer errors including how to detect and avoid fraud. • How to use e-Permitting, Contracted Plate Search, and other state systems accurately. • Proper procedures on processing Consignments, Trade-In’s and Private purchases. • Tips on how to avoid costly penalties with efficiency and organization skills.
FREE TITLE CLERK STAMP WITH REGISTRATION! ($40 VALUE)
You may register and pay online. You’ll receive an email confirmation after your registration is complete. Registration is available until 2:00PM the day before the class. In-person registrations on the day of the class are not accepted.
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WASHINGTON STATE INDEPENDENT AUTO DEALERS ASSOCIATION WSIADA.com 707 Auburn Way South Auburn, WA 98002
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