Recovery management services provider Millennium Capital and Recovery Corp. recently achieved the AT101 Service Organization Controls (SOC) 2, Type 2 Report for the fourth consecutive year.
The company highlighted the SOC 2 examination has taken on greater significance during the past couple of years as consumer finance companies work to attain greater assurances regarding their vendor’s standards of compliance. Millennium Capital and Recovery insisted that this achievement is critical as finance companies strive to meet increasing regulatory demands and compliance requirements from the Consumer Financial Protection Bureau.
“This report reflects Millennium’s commitment to insuring the highest levels of compliance in support of our market leading clients and their executive management teams,” Millennium chief executive officer Bob Bronchetti said.
“This along with our company’s recently announced ComplianceFIRST Solutions suite of programs are being recognized in the industry as the path forward relating to compliance,” Bronchetti added.
Millennium’s full report covers the areas of security, availability and confidentiality controls. The entire report is available to Millennium’s customers and prospective customers, and their auditors for use in satisfying their risk management and governance requirements.
To help navigate this regulatory terrain created by the Consumer Financial Protection Bureau, Vendor Transparency Solutions together with Weltman, Weinberg & Reis will be presenting a free live webinar for auto finance companies and their contracted service providers.
The webinar will be presented by Michael Dougherty of Weltman Weinberg & Reis, a leading authority on regulatory compliance in the auto finance industry.
The session is scheduled for Aug. 20 beginning at 1 p.m. ET.
Dougherty will provide an overview of new regulatory landscape and how it will impact finance companies, as well as the operations that provide products and services to that industry.
“This is such an important topic for everyone in both the auto lending and recovery industries,” VTS president Max Pineiro said. “This new rule is the most important regulation to impact the auto finance market in years. There is a lot for everyone to learn and having Mike Dougherty share his thoughts will provide invaluable insights.”
To register for this free webinar, go to this website.
For further information on Vendor Transparency Solutions, contact Pineiro at (520) 468-3990, ext. 102 or max@vtscheck.com, or Jeff Koistinen, director of operations at (520) 468-3990, ext. 100 or jeff@vtscheck.com.
Four industry associations all raised various concerns on Tuesday about the consent order released by the Consumer Financial Protection Bureau and Department of Justice involving American Honda Finance Corp.
To recap, along with paying $24 million in restitution, Honda’s captive is being instructed to restrict dealer markup to 125 basis points or lower, depending on the length of the vehicle installment contract.
Leaders of the National Automobile Dealers Association (NADA), the National Association of Minority Automobile Dealers (NAMAD) and the American International Automobile Dealers Association (AIADA) all chimed in through a statement sent to Cherokee Media Group’s Auto Remarketing and SubPrime Auto Finance News.
“Today’s government-imposed order will hamstring the ability of thousands of consumers to negotiate lower interest rates with their local auto dealership,” NADA chairman Bill Fox said.
“This enforcement action artificially constrains the right of consumers to benefit from interest rate reductions of up to 1 percent of the APR on their next auto loan," Fox continued.
NAMAD president Damon Lester emphasized the prospects potential buyers should expect when entering the showroom.
“Every person deserves to be treated honestly and fairly when purchasing and financing their next car or truck — no exceptions and no excuses,” Lester said.
“Today’s restriction of consumer rights is entirely unnecessary because a better alternative exists — the Fair Credit Compliance Policy & Program recommended by our associations,” Lester continued. “That alternative, which is modeled on prior Department of Justice consent orders, fully addresses fair credit concerns without displacing the ability of consumers to obtain discounted rates.”
AIADA chairman Brad Hoffman cautioned about the ramifications of Tuesday’s development.
“There’s no getting around the fact that this enforcement action is going to reduce the savings consumers depend on when financing a new vehicle,” Hoffman said.
“Everyone in our industry is mystified as to why the government continues to overlook its own common-sense approach in favor of the anti-consumer methods forced on Honda Finance,” Hoffman went on to say.
Chris Stinebert, president and chief executive officer American Financial Services Association, took a different approach when assessing what the CFPB and DOJ released.
“While AFSA does not comment on the specific details of individual consent orders or business practices, the association remains concerned that the Consumer Financial Protection Bureau has not made any adjustments to the flawed methodology it uses for alleging consumer harm,” Stinebert said in a statement.
“The association and its members remain dedicated to treating all consumers honestly and fairly, and ensuring they have access to affordable credit,” he continued. “AFSA believes that consumers deserve the right to negotiate the best deal when financing a vehicle.”
Ever wonder how an auction views the CFPB guidelines for its consigning partners? It’s simple: government regulations need to be followed, and auctions need to comply to insure both its partners and the consumers it represents have adequate protections.
However, let’s also not assume that the auctions should be dictated to on how to run their businesses nor have specific recommendations passed down under the guise of a white paper. Auctions have a long history of both serving their customers and their communities and following all city, state and federal guidelines that apply to its businesses, and its employees, and should not let the CFPB — under the guise of consumer protections — insert themselves into that process.
As consumers, all of us believe our personal information should be secure, and as business people we create the safeguards, both internal with our staffs and external with our software firewalls, to insure this process occurs. As a result, giving away our privacy rights in blanket contracts related to audits and record keeping beyond the scope of specific repossession customer information complaints, shows disrespect for the incredible job that this industry does for our consigning partners.
What I recommend is that our industry associations, such as IARA and NAAA, along with others related to the finance industry, take a unified and proactive stance toward Congress through our PAC’s (political action committees) or other avenues, to show this industry in a positive light and to make it clear that we will support the rights of all consumers that we are engaged with — without violating any of the rights inherent to our own businesses and that of our own employees.
It’s time for partnerships and driving respect for our industry and its value to this country, and it is also time that our partners realize these controls to help them run their businesses have costs that need to be addressed and are not just a series of rules that need to be complied with and do not reflect that side of the issue.
Jim DesRochers is vice president at Dealers Auto Auction of the Southwest.
Editor’s Note: As with any contributed content, the opinions expressed in this and other editorial columns are solely that of the author’s and do not necessarily reflect those of Auto Remarketing or its parent company.
Lithia Motors generated a used-vehicle same-store retail sales increase of 13 percent during the third quarter, fueled in part by a 17-percent climb in the turns of certified pre-owned units. The CPO performance has the attention of Lithia leadership, but not necessarily for the reason industry observers might first expect.
See, Lithia reported that sales of what it calls value auto units — vehicles with more than 80,000 miles — increased just 5 percent.
And sales for what it calls core units — second-generation vehicles that often arrive at company stores through trade and are 3 to 7 years old — edged up only 3 percent.
Lithia president and chief executive officer Bryan DeBoer explained his concerns to investment analysts when the company reported its Q3 performance, which included a 7.7-percent softening in used-vehicle gross profit to $2,479.
“What really is happening is there is a loosening in that late-model product, which means the availability,” DeBoer said. “When it's easy to get those vehicles and it’s easy to buy them, what happens is you start to use up dollars on certified or late-model conquest rather than core product or even value auto.
“When supply loosens and I think what we’ll see it as it begins to mellow out a little bit, it will be a little easier for stores to go back and find the correct core product, and we should see that start to grow again at a more typical rate,” he continued.
Lithia retailed 2,214 more used units in Q3, topping 17,000 vehicles company wide. That averaged out to be 55 units per store, still below Lithia’s goal of 75 used-vehicle sales per dealership.
Along with perhaps leaning too heavily on CPO performance, DeBoer described the inventory challenges Lithia experienced during the third quarter, which closed with company stores having a 55-day supply in inventory.
“Stores that had some issues in regards to inventory levels and then sold through it,” he said. “We’re obviously on our toes and most of our stores ready to respond as need be.
“Long term, I really believe that when you look at used vehicles, there is a very fine line between having the right cars and the wrong cars. Meaning when you're trying to expand your used car retail unit sales, you try things,” he continued.
DeBoer’s comments returned to what he called a “sucker’s bet.”
He said, “when you have a glut of trade-ins come off of new-vehicle sales, or they become more available on the used-vehicle wholesale auction areas, it's easy to take the path of least resistance and buy newer cars, later-model conquest cars that are really — let's call it a sucker's bet.
“It’s easy to buy. It looks good. It’s going to go through the shop easy, so on and so on,” DeBoer went on to say. “But those are cars that quickly are damaged when the market weakens, and they are pretty readily available at competitors. There is still some training there in some of the stores.”
Later in the call, DeBoer revisited what he means by Lithia’s core used product and what it will take to get that part of the company’s used business back up again.
“What really relaxed in terms of supply was the ability to find 1- to 3-year-old vehicles. And again, those conquest vehicles that aren't what you sell new are the easiest cars to find. Well, we're trying to push the expansion of conquest vehicles, but it's more in the 3- to 8-year-old vehicles, which didn't loosen up in supply,” DeBoer said.
“I think that the combination is, we bought a lot of higher dollar cars of off-brand and then you have the competitive pressures of selling against a certified car that may have incentives on financing or extended warranties that are included in the price or most importantly and knowledgeable salespeople that you’re competing against on selling those products,” he continued.
“Ultimately you increase your average cost per unit, but you don't make any more money doing it and I think that’s what you're seeing,” DeBoer went on to say. “That's not typical though in all of our stores. It's when those stores haven't been through that experience of learning to expand their business with the right cars. And like I said, it's a very fine line between a 3-year-old vehicle and a 5-year-old vehicle and what the equipment is on that car, the colors of that car, the mileage or something like that to find the right price inflection point between a new car and now a used car.”
Top-Line Performance
In other developments in the company’s latest performance, Lithia reported the highest third quarter adjusted net income in company history and an increase in adjusted net income from continuing operations of 18 percent above the prior-year period.
Lithia’s Q3 adjusted net income from continuing operations came in at $34.9 million, or $1.32 per diluted share. A year earlier, the company generated $29.6 million, or $1.13 per diluted share.
Unadjusted net income from continuing operations in Q3 was $34.5 million, or $1.31 per diluted share, compared to $30.9 million or $1.18 per diluted share, a year earlier.
Officials pointed out Q3 adjusted results from continuing operations exclude a $0.01 per share expense related to non-core acquisition expenses for the purchase of DCH Auto Group offset by a non-core benefit resulting from a tax attribute.
The company’s third-quarter revenue increased $228 million, or 21 percent, to $1.3 billion, up from $1.1 billion in the prior-year period.
Other quarterly performance highlights included:
— Total same-store sales increased 12 percent
— New-vehicle same-store sales increased 11 percent
— Service, body and parts same-store sales increased 13 percent
— Same store F&I per unit increased $97 to $1,202
— Adjusted SG&A expense as a percentage of gross profit was 66.1 percent
Update on DCH Integration
Lithia completed its purchase of DCH Auto Group on Oct. 1. DeBoer indicated the DCH stores are estimated to generate approximately $2.3 billion in annualized revenue.
The transaction was funded by approximately $364 million in cash, the issuance of 268,770 shares of Lithia Class A common stock, incurring $230 million of vehicle floorplan debt financing and the assumption of non-floor plan debt of $53 million.
“The transition on Oct. 1 was very smooth,” DeBoer said. “We spent really the last 120 days preparing for that transition. It’s a combination of two organizations. However, we really believe that our opportunity is to build upon their success and continue to expand their market share and their offerings to their consumers. So all in all, very smooth transition.”
One Wall Street observer asked Lithia leadership of its concerns about entering the Northeast after Group 1 Automotive discussed the high costs of doing business in that region and its subsequent disposal of a couple of stores.
“I don't believe there is any intent to dispose of any stores,” DeBoer said. “I think when you look at the New Jersey market or southern New York market, it's obviously highly competitive. We're very fortunate that the DCH brand that they built in New Jersey, New York has high customer belief and adhesion to the dealerships, the products that they sell, Honda being the No. 1 product in the Tri-State area
“Their stores are top stores within that area and their personnel have been there a long time,” he continued. “I think it's also important to restate that in the DCH transaction, their real estate and their locations, being in good locations, solid locations, typically on interstates or expressways and are 75 percent-plus of their facilities are owned, much like what Lithia is, which adds for stability of location without having to be transient to some extent in those locations.”
Lithia chief financial officer Chris Holzshu reiterated the due diligence the company utilized before entering into the transaction.
“Just like we do on the Lithia side, we go through each store and we evaluate each store individually,” Holzshu said. “We look at the opportunities in each location and make sure that the return that we're going to get out of each store is sufficient.
“And we’re very excited about the opportunities in each one of the DCH locations,” he went on to say.
With the Consumer Financial Protection Bureau pledging to intensify regulations that govern all kinds of debt collections, skip-tracing and investigations tool provider BellesLink described the five general requirements finance companies request of repossession agencies.
BellesLink founder Paul Kulas emphasized these five requirements are necessary for large repo operations as well as one-man, one-truck shops. Kulas included:
— Yearly corporate financial statements
— Proof of general liability policies
—Secure facilities, including vehicle yard, personal property storage and disposal
—Disaster recovery planning
—Data security and back-up
“These requirements for facilities, back-office and planning aren’t the domain of big business. These are things every good business addresses in their operations,” Kulas said in a blog post on his company’s website.
“In the recovery industry, CFPB compliance is still the topic everyone is talking about. Compliance has felt like a winter storm you know is coming, but hasn’t arrived yet,” he added.
Perhaps the “storm” Kulas referenced is getting closer for service providers in the repossession and recovery industries. CFPB director Richard Cordray touched on debt collection during a wide-ranging public speaking appearance last week at the University of Michigan School of Law.
“Collection of consumer debts is appropriate and helps maintain access to credit. But some debt collection practices have long been a source of frustration for many consumers, generating a heavy volume of complaints at all levels of government,” Cordray said.
“We are supervising and enforcing the law against debt collectors. We have already signaled that we will be writing a comprehensive set of new rules to govern this market. These rules will update federal law, which has not kept up with changes in technology or market practices, and has never before been implemented by regulations to clarify collectors’ obligations and the rights of consumers,” he continued.
Cordray estimated more than 30 million Americans — one in seven consumers — came out of the financial crisis with one or more debts in collection for amounts averaging $1,500 per person.
“In all of our work, we are striving to strike the right balance in writing rules, conducting examinations, and handling investigations. Our efforts reflect concern about access to credit and do not reflect a one-sided perspective to maximize consumer protection or industry deterrence at all costs,” Cordray said.
“There is such a thing as doing too little, and there is such a thing as doing too much. We are aiming instead at doing justice. On the facts of each matter, we quite simply are focused on getting things right, as best we can ascertain it,” he went on to say.
With what’s coming from the CFPB still being a fluid situation, Kulas plans to join Alex Price from MasterFiles for a series of roundtable discussions and presentations titled, “Effective Skip Tracing Through Compliant Communications,” during the next North American Repossessors Summit (NARS). The annual gathering of finance company executives, repossession operators and other service providers is set for March 12 through March 14 in Irving, Texas.
More details can be found at www.reposummit.com.
Auto Remarketing has officially announced its 2014 CPO Dealer of the Year, presented by NCM Associates, and earning this year’s honors is Hyundai of New Port Richey.
This dealership, located on the Gulf Coast of Florida, was featured as Hyundai’s top certified pre-owned seller in “The Best CPO Dealers in the USA” issue of Auto Remarketing this year after moving 1,357 certified cars in 2013. That was more than 500 units higher than any other Hyundai store.
The store is led by president, chief executive and owner Scott Fink, who owns several dealerships in Florida, including another Hyundai store and Chevrolet and Mazda franchises. Fink has been the chair of Hyundai’s national dealer council for more than six years.
“We’re honored to have Hyundai of New Port Richey earn this award and join us on site at the CPO Forum as part of Used Car Week,” said Auto Remarketing publisher and Used Car Week chair Bill Zadeits. “Hyundai’s growth in the certified pre-owned business has been an exciting story for our publications and events to cover, and Hyundai of New Port Richey is exemplary of that success.
“Congratulations to Scott Fink and his entire team of professionals,” Zadeits added. “Hyundai of New Port Richey join the legacy of excellent, industry-leading dealers who have been named as CPO Dealers of the Year, including Bert Boeckmann at Galpin Ford (Calif.), Brian Benstock at Paragon Honda/Acura (N.Y.), Gary Kron at Karl Chevrolet (Iowa), and Will Amiri and the team at Longo Toyota (Calif.) from the Penske Group.”
Michael DePaul, senior group manager of retail operations at Hyundai Motor America, said: “We are very pleased that Scott Fink and Hyundai of New Port Richey are being recognized as Auto Remarketing’s CPO Dealer of the Year. Scott has consistently been the No. 1 volume dealer for both new and CPO sales.
“Two years ago, when Hyundai’s monthly CPO sales averaged only 10 sales per store, Scott committed to 100 CPO sales per month. He hit that number the very next month and has maintained that momentum for the past 24 months,” DePaul said. “Congratulations to Scott and all of the Hyundai of New Port Richey staff for their commitment and support of the Hyundai CPO program.”
NCM Associates president and chief executive officer Paul Faletti Jr., said: “Understanding what it takes to be a truly outstanding CPO operation, NCM recognizes the significance of being named CPO Dealer of the Year. It is our privilege to be a part of the formal recognition Scott Fink and his pre-owned leadership team at Hyundai of New Port Richey are receiving for their outstanding efforts. We look forward to presenting them with the CPO Dealer of the Year Award in person next month at the CPO Forum.”
Hyundai of New Port Richey will be presented the award at 4 p.m. PST on Nov. 10 at CPO | The Pre-Owned Conference as part of Used Car Week.
Troy Morgan, who is the service manager of the dealership’s stand-alone CPO sales center, is accepting the award on site at the event. He will be joined by Jose Froelich, who is Hyundai’s senior manager of certified pre-owned, and Paul Stowe, director of retail operations for NCM Associates.
Then at 10:30 a.m. PST on Nov. 11, Morgan will join a panel discussion on the “Top 10 Things You Can Do Now to Improve Your Store and Create a CPO Sales Champion.”
Also on that panel are:
- Will Amiri, Longo Toyota
- Rod Rowley, Larry H. Miller Group
- Kraig Quisenberry, DCH/Lithia Motors
- Moderator: Kathi Kruse of Kruse Control Inc.
A complete agenda for the CPO Forum can be found here:
http://cpo.autoremarketing.com/agenda.
For more information or to register your team for the event, visit http://cpo.autoremarketing.com.
The CPO Forum is presented by AutoTrader.com.
Additionally, you can find a complete attendee list for the CPO Forum here:
http://cpo.autoremarketing.com/attendees
For more on Hyundai of New Port Richey, see the special CPO Dealer of the Year section of the Oct. 15 Auto Remarketing, here we include a feature on Fink plus a Used Car Manager in Action profile on how the dealership excels in the certified business.
With the Consumer Financial Protection Bureau intensifying its regulatory aim at the auto finance industry, Recovery Database Network (RDN) is launching a new technology product called VendorVision, which aims to help lenders efficiently and transparently manage third-party vendor compliance.
RDN highlighted VendorVision is a secure, Web-based compliance management platform. Organizations can define their compliance standards, manage documentation, deploy training materials, track the performance of contractors and agents and assign tasks within the system to assure compliance.
Because it’s Web-based, RDN indicated all documents are stored securely yet accessible online with a clear audit trail and detailed reporting capabilities. And, unique to VendorVision, it is integrated with RDN.
Should a vendor fall out of compliance with the lender’s requirements, repossession assignment volume can automatically be restricted or halted until the issue is remediated.
“We understand that CFPB regulations place a huge burden on our lender-clients. It’s an industry-wide concern,” RDN president Zach Hallowell said. “VendorVision takes the weight off. The user-friendly interface automates and simplifies the management of tasks associated with the repossession process.”
Hallowell also pointed out that VendorVision product is a resource for contractors and agents, too. After creating a vendor profile, an agent can receive and update remediation task status online.
Because the process is transparent and automated, lenders and vendors know they are aligned — and in compliance.
“Lenders have been pushing for this product,” said ADESA chief executive officer and president Stéphane St-Hilaire. “One of our top customers chose to work with RDN to create this interface because our skilled programmers know the industry and the process. It’s another example of RDN providing technology solutions for our industry partners.”
Lobbying efforts by organizations such as the National Automobile Dealers Association prevented dealerships from being directly regulated by the Consumer Financial Protection Bureau when it was formed four years ago.
But Automotive Compliance Consultants general counsel David Missimer explained how the CFPB’s latest moves could greatly influence how stores operate — especially in the F&I office.
As SubPrime Auto Finance News covered last week, Missimer recapped that the CFPB proposed a new rule to oversee larger nonbank auto finance companies for the first time at the federal level.
If enacted, Missimer says this rule will significantly affect auto dealer practices, including compensation. He emphasized that earlier CFPB documents related to this proposed rule make clear to auto finance sources that any continuation of markup as a compensation model for dealer generated financing will require a significant compliance management system.
“The CFPB is moving full-steam ahead to directly affect, change and establish compensation policies in dealerships,” Missimer said.
“The only way to protect the lending model currently in place is for dealerships to institute strict controls through a robust compliance management system,” Missimer continued. “And work with their finance sources to establish controls and procedures to respond to CFPB inquiries and accusations of disparate impact.”
As proposed, Missimer pointed out the rule would allow the bureau to supervise nonbank auto finance companies that make, acquire or refinance 10,000 or more loans or leases annually. If approved, the rule will place 90 percent of all nonbank auto finance under CFPB supervision. The proposed rule is open for comment for 60 days.
In addition to what’s being dubbed the “Larger Participant Rule,” CFPB director Richard Cordray reiterated the bureau’s focus on dealer markup, “and the agency’s general disdain for the practice,” according to Missimer.
The CFPB also issued supervisory highlights focused exclusively on auto finance.
Missimer contends the supervisory document makes clear to auto finance sources that any continuation of markup as a compensation model for dealer generated financing will require a significant compliance management system.
“The CFPB suggested a move to flat-rate compensation, or limiting dealer markup to 1 percent, may significantly reduce a company’s fair lending compliance obligations,” he said.
Furthermore, Missimer declared that the CFPB’s actions make clear that compliance would include providing dealer education and training, as well as assisting the dealer in developing a strong fair lending compliance management system.
Missimer closed his assessment of the latest CFPB actions by touching on the abstract legal theory that’s also stirred debate in the auto finance industry.
“The CFPB’s use of disparate impact is questionable from a legal context. Until the Supreme Court weighs in on use of the theory in lending, fair lending practices and procedures must be adopted to prove legitimate business purpose and necessity in response to disparate impact claims,” he said.
For information Automotive Compliance Consultants and its materials on dealership compliance, audits and training and more, contact Missimer at dmissimer@compliantnow.com or visit www.compliantnow.com.
Add this year’s National Remarketing Conference to the list of major industry events where discussion about the impact created by the Consumer Financial Protection Bureau is on tap.
Wait a minute.
You might be thinking the hallmarks of the NRC are connected with wholesale channels — vehicles moving from commercial consignors such as automakers and rental companies through the auction lanes or online sales and on to franchised and independent dealerships.
Well, Jason McCarter, a partner at Sutherland Asbill & Brennan in Atlanta, cautioned that auction managers and executives need to be aware of the CFPB, its enforcement actions and investigations, too.
Why?
McCarter pointed out that many commercial consignors also participate in indirect auto lending — which is squarely within the CFPB’s jurisdiction.
“A lot of commercial sellers at auction may have been indirect auto lenders and may be subject to direct CFPB oversight in one way or another,” McCarter told Auto Remarketing during a phone interview to preview the panel session about this topic and more at NRC.
Remarketing is a critical part of the back-end part of the business. When contracts fall into default and a repossession happens, plenty of state and federal mandates kick in as to how that collateral is liquidated and funds are recovered and connected back to the original contract terms.
McCarter stressed that finance companies and their recovery departments can end up “imposing reporting requirements on the auctions themselves as well as other parties they deal with.
“Their whole compliance program needs to consider third-party service providers and the role they play in their indirect auto loan portfolio. They pass on some of those requirements and compliance issues to the rest of the industry. There has to be some reporting.”
McCarter acknowledged he’s yet to see a direct inquiry by the CFPB into an auction similar to what the bureau has conducted through enforcement actions against operations such as Ally Financial and US Bank.
“But it seems to me that it’s sort of integral to the whole process of interacting with the consumer and what happens to the consumer,” McCarter said. “It ties directly into collection practices. It seems to me if the CFPB and other consumer regulators are focused on protecting consumer from loan abuses — and that certainly seems to be a focus — then it doesn’t seem like it will be long until they direct their attention to what happens on the back end of the transaction when the collateral is liquidated.
“To me, it seems like it’s got to be part of an overall compliance program — what are you doing with the collateral and how that’s going to effect the consumer on the front end,” he went on to say.
Typically, the primary regulators auctions interact with are on the state level, according to McCarter. Auctions need dealer licenses to conduct business in their respective state, a privilege that comes from agencies such as the Department of Motor Vehicles or Department of Revenue.
During the panel discussion at NRC — which is presented by SmartAuction and runs from Nov. 12 through Nov. 14 at the Red Rock Casino, Resort and Spa in Las Vegas — McCarter, fellow Sutherland Asbill & Brennan partner Keith Barnett, and Manheim compliance director Jason Poulos plan to break their presentation down into four segments.
To learn more about these segments, stay tuned to the Sept. 1 print edition of Auto Remarketing for the complete version of this story. Additional information about the National Remarketing Conference — including details on this session and others in the agenda — can be found at nrc.autoremarketing.com.
Also during Used Car Week, one of the key sessions at the CPO Forum will be “Top 10 Things You Can Do Now to Improve Your Store and Create a CPO Sales Champion,” which will feature:
Rod Rowley, from Larry Miller Group
Will Amiri, from Longo Toyota and Longo Lexus
Kraig Quisenberry, from Lithia Motors/DCH Auto Group
This session will also include Auto Remarketing’s annual CPO Dealer of the Year.
A complete CPO Forum agenda can be found at cpo.autoremarketing.com.
Interested attendees for any of the four Used Car Week conferences should also note that the early pre-registration discount deadline is this coming Friday (Aug. 15). More information on Used Car Week can be found at UsedCarWeek.biz.
