Page 20 - GIADA Aug2017Digital

LAW ENFORCEMENT FEATURE

GIADA Teams up with Georgia Police

BY KRISTIN REILLY, GIADA STAFF WRITER OF
Tip THE Month
Quite often, the Georgia Independent Au-
tomobile Dealers Association receives re- AMAC offers financing to qualified BHPH dealers
ports of issues and unfair practices that can Sometimes the Best looking to expand their business.
harm both consumers and licensed deal-
ers. The most common complaint received Deal is No Deal
from both sides is about the illegal practice
of Curbstoning (O.C.G.A. § 40-2-39.1). When business is slow it can be What’s included:
tempting to lower your underwriting
For those of you who are not familiar, standards to get another deal on Funding for Receivables
Curbstoning involves a person or persons the board. This is never a good
who are regularly engaged in the business idea, whether it is done during your You Collect or We Collect
of buying and selling used automobiles for busy season or your slow season.
profit but without first meeting the mini-
mum legal requirements to do so. This can Many of us make the mistake of Floorplan Lines
mean an unlicensed person, selling vehicles chasing business when times
for profit, as well as a licensed dealer who is are slow. Instead, concentrate on Simplified Insurance Tracking
selling vehicles at a location where they are making your business stronger,
not licensed to do so. training your employees, educating
yourself, working on a business Reports Package
plan, thoroughly reviewing your
compliance program or anything else Training
to strengthen your business are all far
better options than writing bad deals. Bulk Roll in for Existing Contracts
Remember, running a successful
business is a marathon not a dash.
Cash Flow from Payments

Victims of Curbstoning are often left with
complications such as expensive repairs,
issues with rolled back odometers, and are Ace Motor Acceptance Corp. (AMAC) specializes in supplying capital to BHPH dealers. Our
sometimes left without proper paperwork
to process their titles and get their tags. BHPH in a Box™ program provides capital to fund contracts and floorplan lines of credit
Often in these curbstoning environments, to purchase inventory. By offering both, AMAC improves your cash flow by allowing you to
criminal activity has been reported such as pay off your floorplan when the deal is funded. We understand what it takes to grow your
fraud, deception, auto theft and even as-
sault or worse. business. AMAC allows you to maintain your customer relationship, leading to increased
repeat and referral business. Instead of selling off your portfolio or doing an expensive
In an effort to better inform dealers, con- payment stream, AMAC has a superior program that allows you to retain strong monthly
sumers, and even police officers about
Curbstoning and how to stop it, GIADA cash flow from customer payments. We approve you, not your customer. The BHPH in a
has teamed up with Georgia Police to com- Box™ program is the most complete program in the industry. To learn more call AMAC
bat this all too common illegal activity. At Curbstoning and what they can do to pro- Convention & CE Seminar where both Lt. today at 704-882-7100 ext. 7509.
the forefront of this mission, GIADA has tect their communities from this harmful Price and Officer Pledger gave a presenta-
teamed up with Lieutenant Jim Price from and illegal practice. tion to over 500 dealers on this topic. The
the Gwinnett County Police Department response was overwhelming, dealers were
and Officer Brandon Pledger from the As a thank you for their service, GIADA overjoyed to learn that there was hope for
Rome Police Department. Their efforts presented Service Appreciation Awards to stopping this activity. n
have taken them to Police Departments Lt. Price and Officer Pledger at their recent
across the state to teach other officers about Acemotoracceptance.com 704-882-7100 ext. 7509
18 | GIADA Independent Auto Dealer AUGUST 2017