According to F&I Magazine, the new law will update dealership protections passed in 2009, 2010, and 2011. These protections included limiting manufacturer-mandated renovations as well as giving dealerships the right of first refusal in the case of a manufacturer filing bankruptcy, closing a location, and then opening a new franchise in the area.

The biggest problem that dealerships ran into when reinforcing the new protections was manufacturers claiming that the laws didn’t apply to franchise agreements signed before the law was passed. Dealerships that ran into this problem often didn’t want to cause more trouble with the manufacturer, so they didn’t speak up. Fortunately, a few spoke up including Don Hicks, CEO of Shortline Auto Group, and they prompted the bill’s introduction.

One of the bill’s sponsors Colo. Sen. David Balmer praised Governor Hicklenlooper for signing it into law, stating, “Now Colorado will lead the country in protecting the free-enterprise rights of auto dealers and their car-buying customers.”

Want to learn more about how Special Finance Group can work for your dealership? Go to http://www.specialfinancegroup.com today to learn more about the Complete Special Finance Solution, and connect with Special Finance Group on Facebook, Twitter, and LinkedIn!

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Today, I was re-reading some of the excellent articles over at Special Finance Insider’s website, and I came across Brett Boatright’s tough-love article “Who’s Selling Who?” He walks through the typical excuses that salespeople, sales managers, finance managers, and used car buyers doll out when they fail to deliver on funding deals. The leads are the problem, the banks are the problem, the inventory is the problem…and so on and so forth.

The truth is that these are excuses, and there are steps that every special finance department can take to improve from the sales people to the finance managers. Most of the problems stem from not following through with leads, failing to be diligent with paperwork, and not knowing banks and finance companies’ programs inside and out. Every employee should take a moment periodically to take inventory of their day, how their time is spent, and how they can improve on their work. If they aren’t up to date on bank and finance programs, they need to schedule the time to learn it. Taking these simple steps can already put your special finance department back on the right track.

Special Finance Group wants to give your special finance department the tools it needs to succeed and exceed your expectations. To learn more about Special Finance Group’s Complete Special Finance Solution, go to http://www.specialfinancegroup.com, and connect with Special Finance Group on Facebook, Twitter, and LinkedIn!

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