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Tomorrow, the governor will sign HB 18-1022
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Please join CADA for a bill signing with Governor Hickenlooper tomorrow, March 7. We are meeting at CADA at 2:30pm and heading to the Capitol from there for the 3:00pm bill signing.
You’re probably painfully aware of the complexities of Colorado's sales tax structure. CADA started the Coalition to Simplify Colorado Sales Tax to work with other business entities to rectify this complex system.
Wednesday, the governor will sign HB 18-1022, which directs the legislature to release a request for information to solicit ideas from industry on ways to simplify the sales and use tax system, based around five pillars:
- Accurate address location
- United licensing application
- Uniform sales and use tax remittance
- A taxability or exemption matrix
- Single point of remittance
This a huge step toward remedying the complex tax structure in Colorado.
Because space is limited, please contact Michelle O’Connor ASAP if you want to accompany CADA to the Capitol tomorrow for the bill signing.
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NADA’s Dealership Workforce Study measures the strengths of the business and helps dealerships make informed decisions on pay plans, benefits and work schedules and more. Participating dealerships will receive two complimentary reports: Automotive Retail: National & Regional Trends in Compensation, Benefits & Retention and Compensation, Benefits and Retention: How Your Dealership Compares.
The deadline to participate is April 30.
To enroll, visit www.nadaworkforcestudy.com. For questions, call Dorenda Fisher at 703.556.8583 or email WorkforceStudy@nada.org.
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Final Announcement on Fingerprinting for Salesperson Licenses (with Updates)
By Matthew Groves, VP Regulatory & Compliance
Effective March 1, 2018, there is a new requirement for a completed new salesperson license. In the 2017 session, the Legislature passed a sunset review bill, adding a requirement for fingerprints to be submitted alongside NEW salesperson license applications. Any application submitted without the fingerprint cards or form DR-2197 – Verification of Fingerprints - will be rejected as incomplete. This form will be posted to the Auto Industry Division website imminently. Or you can obtain by e-mailing matthew.groves@colorado.auto.
Importantly, this requirement does not impact License Renewal Applications. Nothing in this legislation will impact the renewal process for existing salespersons.
Fingerprints must be taken at a Law Enforcement Agency, or at the Auto Industry Division. This will include any Police Department or Sheriff’s Department within the state, but not private agencies run by former law enforcement officers. Many law enforcement agencies charge a fee for this service. In addition, some have limited hours and will require appointment for fingerprints, or restrict the services to resident or employees within their respective counties. If you elect to go to the Auto Industry Division, no reservation is required and no residency restriction applies.
In addition to the two fingerprint cards, new salespersons will also be required to submit $39.50 with their application to cover the costs of submission to the Colorado Bureau of Investigation (CBI) and Federal Bureau of Investigation (FBI). These checks may be made payable to the Colorado Department of Revenue, or CDOR, and need not be in a separate check. One check covering the submission and the licensing fee is appropriate.
Update: Based on questions from Dealers, we have added two pieces of information regarding applicability of the fingerprinting requirement.
First, if you have multiple dealerships under the same roof and a salesperson only licensed to one dealership, adding a subsequent license to that salesperson would not require fingerprinting. The currently licensed salesperson would fill out the application and mark the “multiple” box at the top of the application. The form must otherwise be filled out as though it were a new application. However, the valid, active license negates the need for the fingerprint.
Second, by contrast, if a salesperson holds an inactive license, upon moving to reactivate it, this salesperson would need to submit fingerprinting cards with their application. This would apply to any person submitting an original application.
As always if you have any questions, please send me an e-mail or call: 303.282.1449.
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On President Trump’s announced steel embargo
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- - CLICK BELOW FOR MORE AUTOMOTIVE NEWS - -
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CADA has a fillable bond request form for new sales people! This new, fillable PDF form makes it easier, faster and more accurate for us to turn around your salesperson bond request. Because there’s no handwriting to decipher with this form, bond turnaround can be faster than ever. Just download the form, electronically fill it out and return to Khorrie Luther (khorrie.luther@colorado.auto). Questions? Call Khorrie: 303.457.5122.
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Sales Power Boost
Wednesday, May 16, 2018
OR
Thursday, May 17, 2018
Send half your sales team one day and half the other day!
8 – 5 p.m.
CADA Headquarters
Presented by the Sales Academy, these two, one-day workshops will give your dealership team a boost in sales and profitability in the shortest amount of time possible.
Based on The Academy’s Y.E.S. Customer Engagement Process, your experienced team will pick up fresh techniques for today’s internet-educated customer. The Power Boost is designed for dealerships that want new ideas and directions for big-sale weekends and strong close outs.
Today’s customer requires an updated skill set — and even mindset — that needs to be adopted by sales professionals and managers.
Course instruction includes
- The Science of the Sale
- Basics of appointment setting
- Determining the customer state in the buying process
- Up front objection handling to move forward
- Determine the emotion for vehicle
- Correct vehicle selection
- Basics of vehicle presentation
- Ask the customer to purchase
- Presenting numbers
- Price objections
- Trade objections
- Cash objections
- Payment objections
- Working with the customer
Who should attend
Any sales person on your team — rookie or veteran. The content will help a rookie become more capable of operating in today’s sales market. It will give a veteran a boost in dealing with today’s customer, by giving him or her improved or updated engagement skills.
Why you should attend
The Sales Academy teaches sales professionals how to meet customers at their point in the buying process, not make them start over. Your sales team will pick up fresh techniques for today’s internet-educated customers.
Price
$349/person
OR
$249 each for 5 people from your dealership
Send 3 people and your sales manager is FREE!
Register
e-mail: SeminarRSVP@colorado.auto
Phone: 303.831.1722 |
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Mastery of Finance for Automobile Dealers:
A workshop that links finance to automobile dealership operations
Tuesday, June 19, 2018
8 a.m. – 5 p.m.
CADA Headquarters
Performance is measured on bottom-line results. Do your key decision makers know how to drive the bottom lines at an auto dealership?
Using a revolutionary and simple approach, learn to support your team’s management of sales, expenses and assets to improve profit, cash flow and return on capital.
In this one-day seminar, you’ll learn:
- The three types of cash flow and which is most important to your daily operations
- The relative profitability of the five lines of business at a dealership
- How costs are allocated to dealership departments
- How to distinguish cost of goods sold from operating expenses at a dealership
Topics covered include
Fundamentals of Finance
- Key elements of business strategy
- Structure and purpose of three financial statements
- Distinguishing assets, liabilities and equity
- Difference between cash and earnings
- Three types of cash flow
- Relationships of the three statements to each other and to dealership operations
- Basic principles of finance
Financial Analysis and Decision Making
- Analyzing auto dealer financial statements
- Learning the three bottom lines — and how to improve them
- Evaluating a dealer’s performance trends
- Identifying crucial drivers and auto dealer KPIs
- Managing working capital for dealerships
- Making better strategic decisions
- Applying financial knowledge to your job
- Sources and uses of cash
Who should attend
This seminar is designed for non-financial professionals in every functional area of an auto dealer’s operations who need to:
- Drive financial performance
- Analyze strategic opportunities
- Assess risk
- Communicate financial priorities and results
Price
$400/first person
$350/additional person
Register
Online: CLICK HERE
e-mail: SeminarRSVP@colorado.auto
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Did you miss the Military Lending Act webinar?
Good news! The webinar is available on demand from CADA, ready for you to attend at your own convenience! To get the webinar, click here.
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ENDORSED PROVIDER / PROGRAMS
For information about any of the Endorsed Provider’s products or services, contact
Polly Penna polly.penna@colorado.auto
303.457.5119 office | 303.945.6426 mobile
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