Make sure to register for IRS Energy Credits Online if you would like your customers to be able to take advantage of clean vehicle tax credits in January 2024. In December, registered dealerships will be able to add …
Questions about the rules surrounding surcharging credit cards are among the most frequent IADA gets. The short answer is that while it is legal, the rules are complicated and the consequences of doing it wrong include chargebacks of …
The Federal Trade Commission’s Used Car Rule, promulgated in 1984, requires the display of a Buyer’s Guide before offering a used motor vehicle for sale. One of the most common violations of the rule is the failure to …
As interest rates continue to creep up, IADA has received questions about the maximum annual percentage rate (APR) on motor vehicle financing. Iowa law establishes a three-tier rate cap system for automobile retail installment contract finance charges. For new …
Dealerships with more than 100 employees must file the EEO-1 Component 1 Report for 2022 by December 5, 2023. What it is: The EEO-1 Component 1 Report collects workforce demographic data on an annual basis. This data is usually collected in …
Any dealership that wants their customers to be able to take advantage of clean vehicle tax credits must register for IRS Energy Credits Online. November: The dealer should register. December: The initial user will be able to give additional …
The FTC announced an amendment to the Safeguards Rule late last month, requiring non-bank financial institutions, including dealers, to notify the FTC when they experience a data breach or other security events. Dealers (and other financial institutions) will be …
The period for dealerships to file a Consumer Credit Code Notification Form begins today. Every dealer who signs a retail installment contract needs to file and pay the associated fees by January 31, 2024. For more information on the …
Under Iowa law, creation of a security interest and perfection of a lien are two entirely different matters and typically occur on different dates. Most commonly, a security interest in a motor vehicle is granted by the customer’s …
One section of the Power of Attorney Authorization (POAA) form is causing confusion and filling it out incorrectly will result in a county return. The mistake: Instead of printing the name of the owner signing the POAA, some dealership employees …
Attendees at the Dealership Compliance Meetings asked good questions—so good, we wanted to share them with our newsletter readers. In Iowa, can a new car dealer advertise new vehicles online without the destination fee? If so, can we charge …
An increasing number of dealerships are offering mobile service trucks that travel to customers to perform repairs. If your dealership is operating a mobile service vehicle—or considering offering the option—keep the following in mind. Plates: Mobile service trucks …