The year of Hindsight is beginning to disappear in the rear-view mirror as it yields to a year of possibilities in every direction you turn.
Here at CADA, our office will be closed Friday, January 1, 2021, so our staff can usher in the new year, in our own individual ways.
We wish you a very safe and Happy 2021!
The Celebration of the Season continues
Mountain States Toyota makes a BIG difference in kickstarting a young woman's career
Denver Councilman Chris Herndon, left and his Chief of Staff Amanda Schoultz, far right, take a moment to pose after Mountain States Toyota gave Dee Dee WIlkerson, middle, a 2016 Kia Optima. Schoultz said, "Dee Dee is over the moon! She literally texted me 20 minutes ago, thanking everyone involved."
"I get by with a little help from my friends."
— The Beatles
Dee Dee Wilkerson had a problem.
After completing her first semester at Colorado State University at Pueblo, she mostly held her breath that her old truck would carry her back home to Denver for the holidays. The truck was so bad a mechanic she knew told her that he wouldn't even let his daughter drive the truck.
Before going off to school, she was active in the Broncos Boys & Girls Club in Montbello for five years. Amanda Schoultz has volunteered at the club once a week for the past four years and became close to Dee Dee.
Amanda encouraged Dee Dee to take part in Denver Councilman Chris Herndon's free leadership program, Northeast Denver Leadership Week, to meet and learn from professionals in the community who are driving change and finding success. Also the Councilman's Chief of Staff, Amanda mentored Dee Dee at the Boys & Girls club for the past few years.
All Dee Dee's determination and Amanda's commitment to her success resulted in Dee Dee driving to Pueblo for her first year in college. And she worried she wouldn't be able to make it to and from work, and especially return to college because of the unreliable truck and the distance she needs to travel to get there.
Amanda and Councilman Herndon talked about what a difference a reliable vehicle would make in this young woman's life. "Chris said, 'Let me call Tim Jackson, and see if he has any suggestions for programs who can help us find her a reliable vehicle.'"
Jackson reached out to Tim Van Binsbergen at Mountain States Toyota, who gave Dee Dee a 2016 Kia Optima. "I was floored," Amanda gushed. "Dee Dee was floored! She's over the moon! In my wildest dreams, I would have loved for that to happen, but I sure didn't expect it."
In addition, Van Binsbergen paid the taxes on the vehicle, along with the first year of registration. Councilman Herndon, along with Josh Hanfling with Sewald Hanfling Public Affairs, then paid Dee Dee's first six months of insurance.
"And because generosity is contagious," Amanda explained, "her insurance agent gave her a $100 gift card for oil changes at Jiffy Lube."
She added, "We are so grateful to Tim Jackson for making the connection, Tim Van Binsbergen for making wildest dreams come true. Your generosity has been so meaningful; it will help her start fresh from a good place as she works and pursues her nursing degree."
You're CRUSHING it in December!
Thanks for your 26 donations — yes, 26 — last week!
While we’re only a few days away from the end of a challenging year, we’re still setting records!
Thank you to the following dealers who are changing lives with your donations:
Thanks to you, Clear the Air Foundation does it yet again!
We just awarded Brooklyn Ross a $2,000 tuition scholarship. Brooklyn attends Pueblo Community College and works at Spradley Chevrolet. She has found her passion in the automobile industry and plans on making it her career. She said this scholarship will help ease the financial burden as her fiancé is in school full-time, as well.
Can you help us reach 900 donations this year? Only 21 donations are needed!
Kick off 2021 with an important compliance update!
Under the Hood:
Service Department Legal Compliance
As we roll into 2021, it's a good time to refresh your knowledge on Colorado's detailed laws that govern service department compliance.
With the pandemic came new employment laws, including liability for an employer's failure to take COVID precautions and testing. Then last month, Colorado voters passed Proposition 118, the state's new paid and medical leave law. And in 2018, the state legislature passed the Equal Pay for Equal Work Act, which goes into effect January 1.
Designed for HR and Fixed Ops managers, as well as Service directors, managers, writers and department employees — and led by industry veterans Michael Dommermuth and Colin Walker, directors with Fairfield & Woods, P.C. — this webinar offers an update on new COVID-19 laws and regulations. You’ll learn more about how your service department and the employees you manage need to comply with these new rules.
In addition to employment law, topics include consumer consent, documentation and form requirements, electronic transactions, recalls, liability to inform and how to handle abandoned vehicles.
Failure to follow these laws can result in fines; violations of some can result in an award of treble damages AND attorney's fees.
Join us Thursday, January 14 and start off 2021 by making sure your Service Department is on the right side of the law!
Michael J. Dommermuth, director of Fairfield and Woods, PC, has represented motor vehicle dealers throughout Colorado and the Rocky Mountain West for more than 30 years. His firm provides full-service representation of motor vehicle dealers.
With more than 20 years’ general employment and litigation experience Director Colin Walker represents clients across a variety of industries, including automotive, in employment disputes.
CADA webinar January 21
Are you planning to buy or sell a dealership next year?
If part of your plans for 2021 include investigating what’s involved in buying or selling a dealership, be sure to attend the two-hour, in-depth webinar, Automotive Buy-Sell Transactions from A to Z.
Topics covered will include buy-sell trends, including blue-sky multiples, broker contracts, non-disclosure agreements, asset vs. stock transactions, real estate issues and typical contract issues.
The webinar will be led by Fairfield and Woods P.C. Directors Michael Dommermuth and Randy Earnest, where each has extensive experience representing buyers and sellers in automotive buy-sell transactions.
Also, Michael and Randy will discuss issues related to the impact of PPP money in the sale of a dealership and other topics related to preparing your dealership for a sale.
If you’re in the market to buy or sell a dealership, important issues go into every transaction — and failing to understand each requirement could cause problems for you down the line.
Director of Fairfield and Woods, PC, Michael has represented motor vehicle dealers throughout Colorado and the Rocky Mountain West for more than 30 years. His firm provides full-service representation of motor vehicle dealers.
Randy Earnest
Director at Fairfield and Woods, P.C., Randy represents motor vehicle dealers throughout Colorado and the region. As part of the full-service representation the firm provides motor vehicle dealers are federal and state compliance matters, buy/sell agreements, franchise matters, manufacturer and consumer relations, dealer succession and employment.
Congratulations to CIADA’s Todd O’Connell
While year end will bring several changes in the industry, one of the most noticeable for independent auto dealers will be the retirement of CIADA’s long-time President Todd O’Connell.
Todd joined the Colorado Independent Auto Dealers in 2011. He has been the voice of independent auto dealers at the Colorado Capitol — as a strong ally to CADA in their franchise law and objections to direct sales for electric vehicle manufacturers — and in preventing titles being issued to total loss vehicles, and narrowing the open of dealer bonds. In 2015, Todd won the National Independent Auto Dealers Association “State Association Executive of the Year.”
We at CADA wish Todd fair winds and following seas.
And we welcome David Cardella, who will be CIADA’s president as we open 2021. We look forward to continuing this long partnership and to the adventures ahead.
Odometer exemptions on used vehicles extended to 20 years
Beginning Friday, the Division of Motor Vehicles will no longer accept applications for title on vehicles over 10 years old if they read ‘exempt’ in the odometer reading box. That exemption has been moved by rule to vehicles over 20 years.
Every vehicle offered for sale between 10 and 20 model years of age will require a proper odometer reading before sale. We do not expect this to be a dramatic impact on franchised dealers, however, for those engaged in selling vehicles of this age, it will be a necessary preparation.
Thanks for participating in our Legislative Grassroots Meetings!
Special thanks to those dealers who have been an active part of the 100 in 100 Days Campaign so far!
Power in Numbers
Currently, CADA has hosted 77 Legislative Grassroots Meetings with 77 Legislators and 21 Fundraising Events with 56 Legislators. Our staff has also been in attendance at 4 C-3 Legislative Base Camps alongside 30 Legislators. Our PAC Dinner was another successful gathering with 15 Legislators, adding another meeting type to the schedule - Political Action Events.
Only made possible through dealer attendance, we have been a part of 103 meetings with Legislator attendance totaling 178.
Upcoming meetings:
WEDNESDAY, DECEMBER 30, 2020 | 12:00 PM – 1:00 PM
Legislative Grassroots Meeting / Legislative Lifetime Achievement Award
Network Now is the new matchmaking tool that will allow you to connect and meet with fellow attendees and exhibitors at the virtual Show.
Here’s how it works:
Setting Up Profiles - Once the NADA Show platform is open, attendees can sign in using registration credentials and set-up their profiles.
Before the Show – Before the Show kicks off, attendees will be able to begin engaging with fellow attendees and exhibitors, beginning February 5-8. Pre-event meeting scheduling allows attendees to get a jump on planning who they want to connect with, both at the show and the expo.
During the Show – Once the Show kicks off, February 9-11, you’ll get personalized networking recommendations based on your profile selections. You’ll also be able to schedule meetings and keep the conversation flowing with industry peers through the chat and messaging function and link your social media accounts (if you like).
After the Show - Network Now ends February 12, but you’ll be able to continue your conversations and connections by linking to your Facebook or LinkedIn accounts to keep things going.
Learn more about the new Network Now matchmaking tool.
Receptions and Happy Hours happen each day at the virtual NADA Show, with opportunities to connect, and discuss industry topics, meet fellow attendees and enjoy entertainment and play games to win cash and prizes.
This year’s NADA Show takes place Tuesday, February 9 through Thursday, February 11.
We encourage you to reserve time on your calendar by registering early and learn about group registration for your team. We look forward to seeing each of you in February!
Staying at the top of your game in the ever-changing world of automotive means constant education and self-growth. Check both boxes with CADA’s Education on Demand, through training that fits your schedule.
You’ll find relevant and timely training you can stream on topics ranging from COVID-19-related Employment Law to Solar and Hail inventory protection options, to Avoiding Lawsuits and Warranty Reimbursement. And we’re adding more sessions all the time.
Governor Polis issued a Colorado's mask mandate that requires everyone over the age of 11 to wear a non-medical face covering when in public spaces. The statewide mandate was put in place in July, and has been extended every 30 days since then.
TN1060 3-layer disposable face masks (50/package)
TN2210 5-layer KN95 anti-dust face masks (50/package)
For information about any Endorsed Providers' products or services, contact: Marsha Temple 303.457.5123 office | 303.589.3801 mobile
Considerations for Replacing Your Permanent Life Insurance Policy
Life insurance is a competitive market, and for many people, life insurance is not a once-in-a-lifetime purchase. There are many factors and sales tools used to tempt a person to exchange or replace their existing permanent life insurance with a new policy. Understanding the facts about your current policy, and the risks involved in replacing it, can help you make an informed decision that fits your current and future insurance needs.
When faced with the decision of replacing your existing permanent life insurance coverage, be skeptical, and take the time to understand all of the advantages and disadvantages that come with this decision.
Interest Rates: Does the coverage have a guaranteed interest rate that the company cannot go below? Is the rate tied to investments that you must choose and manage, which can add to the risk of the policy? Illustrations can be complicated and confusing; does it look too good to be true?
Policy Fees and Expenses: Understand and compare policy fees, and expenses. Some companies have both current and guaranteed rates. This allows the company to increase other fees, which will affect policy performance.
Cost of Insurance: Life insurance premium rates are influenced by the insured’s age and health. The cost of insurance will most likely be higher on a new policy than on your existing policy, primarily because you are older and your health may have changed when the new coverage starts.
Surrender Charges: Your policy may still have surrender charges, or cancellation fees, which will reduce the amount of money that would be transferrable to the new company. Surrender charges are usually higher in the early policy years, which means that any new coverage will likely have a higher surrender charge than any existing coverage.
Contestability Period: Life insurance is often issued with a two-year contestability period. This means that during the first two years of the policy, a death claim may be denied if the applicant or insured left out or distorted information that was provided during the application process.
Taxation: When a life insurance policy is surrendered for cash, certain circumstances may cause the funds received to be subjected to state and/or federal income tax. A financial professional should be consulted to fully understand the tax implications.
Although replacing your existing permanent life insurance policy is rarely beneficial, the replacement may make sense if the cost, projected performance, and the benefits outweigh the disadvantages. Knowing the facts, understanding your current and future life insurance needs, and thoroughly reviewing your options with your insurance advisor will help position you to make the best decision for your long-term financial goals.
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