Friday, March 23, 2012

FTC Takes Action To Stop Deceptive Car Dealership Ads


FTC Alleges Dealers Falsely Promised To Pay Off Trade-ins, No Matter What Consumers Owed. Five car dealers around the country have agreed to Federal Trade Commission settlement orders that require them to stop running ads in which they promise to pay off a consumer's trade-in no matter what the consumer owes on the vehicle.

The FTC charged that the ads, which ran on the dealers' websites and on sites such as YouTube.com, deceived consumers into thinking they would no longer be responsible for paying off the loan balance on their trade-in, even if it exceeded the trade-in's value (i.e., the trade-in had "negative equity"). Instead, the dealers rolled the negative equity into the consumer's new vehicle loan or, in the case of one dealer, required consumers to pay it out of pocket.


Thursday, March 15, 2012

How Cars Became Luxurious in 1940


What’s your favorite car feature? Heated seats? Automatic Windows? Remote locks?
With all the technology today, we’re pretty darn close to having our cars drive themselves…or fly. I’m sure that’s right around the corner.
Apparently 1940 was a pretty ground breaking year for cars. Previously, cars were very convenient, but uncomfortable. Luxury cars were introduced and became an over all representation of your wealth and social status.

Tuesday, March 6, 2012

Joe Lescota named NIADA Director of Dealer Development


ARLINGTON, Texas (March 5, 2012) – Former Northwood University Automotive Department Chairman Joe Lescota has been named Director of Dealer Development for the National Independent Automobile Dealers Association, NIADA CEO Michael Linn announced.

He will begin his new duties June 1 after Northwood completes its spring semester. 

Lescota, who resigned as chairman of Northwood’s Automotive Marketing Department in February after 15 years at the university, will work closely with NIADA Director of Education Georgia Brown on the association’s dealer education initiatives as well as evaluating analytical data.

Lescota will continue to serve as lead instructor for NIADA’s Certified Master Dealer course, a position he has held since 2003. The CMD program will continue to be presented in conjunction with and accredited by Northwood University, as it has since it was created in 2001.

I am very excited about my new role as Director of Dealer Development for NIADA,” Lescota said. “I have had the privilege of working with independent dealers for several years as the Certified Master Dealer instructor and at NIADA Conventions.  Now I will be able to expand and help develop a wider range of educational programs offered by NIADA. It's an awesome opportunity for me to work even closer and more frequently with NIADA members.”

Lescota is a former retail automotive executive with more than 25 years of frontline dealership, sales, management and training experience. He has served as a dealer operator and is credited with developing innovative management techniques leading to reduced employee turnover and increased customer retention and satisfaction. He has conducted workshops and seminars to help used car dealers increase their profitability and helped introduce college credit courses in dealerships nationwide via distance learning.

In 2011, Lescota was inducted into NIADA’s Ring of Honor for outstanding performance and leadership that has contributed to the professionalism and growth of the automobile industry, one of only 21 honored in the association’s 66-year history. He was named Man of the Year by the Association of Finance and Insurance Professionals in 2006 and is a five-time winner of Northwood’s Faculty Excellence awards.

I’m looking forward to having Joe as a senior staff member on our educational team at NIADA,” Linn said. “Joe’s industry knowledge and professionalism will be a great addition for us.”

About NIADA

The National Independent Automobile Dealers Association (niada.com) has represented the used motor vehicle industry since 1946. NIADA assists its members in becoming more successful and is the industry’s legislative representative for protecting dealer and consumer interests. The association consistently generates valuable industry education and information, along with services and benefits designed to prepare members for an ever-changing marketplace. As a consumer-friendly association, automotive consumer information can be found at autoconsumer.tv