Flood Titles - Important Notice from Secretary of State
rainstorms and flooding throughout the country within the past several months
have resulted in the Secretary of State’s Office implementing its flood title
process. This means that vehicles that appear on the National Insurance
Crime Bureau's (NCIB) database as known flood damaged vehicles must bear a
"Flood” designation on the title. It also means that vehicles that do not appear on the NCIB
database, but were registered in a location that was declared a federal or
state disaster area as a result of flooding will receive a flood title
designation unless accompanied by a signed and notarized natural disaster
disclosure statement signed by the previous owner declaring that the vehicle
was not in a natural disaster area or was not damaged.
IADA CATA 2016 Spring Conference
Join IADA and CATA for our annual Dealer Conference this spring, March 20-24, 2016 at the beautiful Ritz Carlton in Key Biscayne, Florida. This breathtaking property has so many fabulous activities to offer, and is a short distance from dynamic downtown Miami. Pre and post dates are available, but we need your reservation ASAP! REGISTER HERE!
Oppose the Ad Tax!
New Video: Dealer Financing Benefits Consumers
Illinois small business community won't survive another tax burden-say NO to a tax on advertising. Please use the following resources to oppose the AD Tax:
The stories of real consumers who saved money by financing new vehicle purchases through local dealerships are at the center of a new NADA initiative to showcase the true economic value of optional dealer-assisted financing, and better inform opinion leaders, elected officials and the media about the debate over the elimination of dealer reserve. Click here to view the video.
IADA LEASE TAX SEMINAR PRESENTATIONSDepartment of Revenue Presentation
In August, the SAAR topped 17.7 million new cars and light trucks, which beat expectations. Light-truck sales trounced cars (57.3% to 42.7%). Year-to-date, sales of light trucks are close to NADA's predicted 56% share, with 55.3% of the market choosing light trucks over cars. This move helped push vehicle transaction prices up nearly 3% compared to last year. But the weakness in car sales has led to increased incentives, which rose more than 3% YTD, according to Autodata. Asian automakers, with weaker light-truck product lines, saw incentives rise more than North American automakers. Though there is concern about the global slowdown and roiling equities markets, NADA's forecast for 2015 remains unchanged at 17.2 million. Click here
for the August edition of Market Beat.