Page 19 - VIADA-Spring2018-Final 030518-web

MEMBER ADVANTAGES | STRENGTHENING YOUR BOTTOM LINE

DealerRE, a managing agency located in IMPORTANT REMINDERS
Tim Byrd is Founder and President of

Gloucester, Virginia, and an auto industry
expert on Dealer-owned Reinsurance Com- VIADA notifies members of upcoming changes to rules and regulations when we know
panies, BHPH Operations, and Dealership about them via the Executive Director’s monthly email, in the quarterly magazine, as well
and F&I Development. As a 25+ year vet- as being posted on the new website when it is launched. One of the more recent notices in
eran of the car business, Tim is a trusted ad- the March eNews bulletin was that the FTC raised the penalty for not using the new Buy-
visor to many car dealers. Tim has appeared ers Guide from $40,464 to $41,484. This is a PER OCCURRENCE PENALTY! So be sure
on Auto Dealer Live and has been featured you are using the new Buyers Guide, as one of these penalties will put you out of business.
many times in Dealer Solutions Magazine, Order forms online at VIADA.org/forms.
The Virginia Independent News, Around
the Commonwealth, The BHPH Report, You should also subscribe to the MVDB newsletter so you can get notices directly from
DealerELITE.net, the Dealer Business Jour- them: mvdb.virginia.gov/newsletter/default.aspx. Although VIADA was aware that the
nal, AutoSuccess Magazine and NIADA’s new guidelines were being drafted, we did not know the exact wording until the MVDB
BHPH Dealer Magazine. Tim is a sought announced it in their newsletter. So, if you do not get their newsletter, I strongly suggest
after speaker and co-author of the #1 Best you go to the link above and sign up. VIADA sent a letter in March to Mr. Childress and
Selling book “Unfair Advantage” , “Race to Mr. Holcomb pointing out the burden the guideline has on our small dealerships with 1-2
the Finish Line ” and also a #1 Best Seller people.
“Race to the Finish Line 2” . First and fore-
most, Tim is a Christian man whose values, The MVDB continues to aggressively pursue those who are not compliant. A sample of
he strives, are a reflection of those of his Lord recent total penalties assessed and paid by dealers include:
and Savior Jesus Christ. Tim can be reached • Failure to maintain liability insurance on ALL dealer tags - $21,000
at www.DealerRE.com or by calling 804- • Failure to provide proof of safety inspection prior to retail sale - $4,500
824-9533. • Failure to maintain posted business hours - $6,020

BE A SMART DEALER

WITH REINSURANCE, EVERYONE WINS.
ITʼS WHAT SMART DEALERS DO!

Your own warranties • Your own certified pre-owned • Your own vehicle service contracts • Your own collateral protection

804-824-9533
www.WhyReinsurance.com

THE VIRGINIA INDEPENDENT NEWS | SPRING 2018 | 17