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June 8, 2017- 1st Annual Used Vehicle Sales & Compliance Workshop Scheduled

May 05, 2017

Presented by ACV Auctions, Inc. & NJ CAR Services, Inc.

NJ CAR is pleased to announce that the first annual Used Vehicle Sales & Compliance Workshop has been scheduled for June 8, 2017, and will be presented by ACV Auctions, Inc. and NJ CAR Services, Inc. Earlier this year, the Coalition partnered with ACV Auctions to provide participating members with an Online, On Demand Live Auction Program (See 4/18/2017 Newsletter/ Bulletin No. 7), which has been well-received by the membership. NJ CAR Services, an affiliate of NJ CAR, offers a variety of business forms, advertising specialty items and logo wear to New Jersey dealers.

This event will be held on Thursday, June 8, 2017, at the Holiday Inn Clark (Exit 135 of the Garden State Parkway).

The Workshop is designed for GMs, GSMs and Used Car Managers. This half-day event will provide attendees with both valuable information and additional resources to improve sales and make sure their Used Vehicle Department is compliant with: recent changes to the FTC Used Car Rule and the FTC Buyers Guide; New Jersey’s used vehicle price labeling requirements; and the State’s requirements for mandatory warranties for used vehicles; when they can be waived and when/how used vehicles can be sold “as-is. Seminar topics and presenters include:

“USED CAR INVENTORY MANAGEMENT”Mike Waterman, VP Sales for ACV Auctions, Inc. This presentation will review best practices from top-performing automotive groups in the United States. Learning objectives of this presentation include:

•How some of the top auto groups in the U.S. are increasing front end profit by 6 figures.•What other levers should be utilized beyond just price and velocity in your inventory economic strategy. •Effectively maximize profits by pulling purchase and trade acquisition, pricing, merchandising, aging and wholesale levers.•Discover which markets are performing well.•Use better decision making in deciding which vehicles to take in, amount of recon to invest and how to profitably retail them.•How to acquire and sell more at retail and limit wholesale exposure.

“USED VEHICLE DEPARTMENT COMPLIANCE CHECK-UP” – Patrick Cox, NJ CAR’s Director of Legal & Regulatory Affairs. This presentation will dive into the details of the federal and New Jersey regulations that govern some of the critical aspects of used vehicle sales. Specific topics to be addressed, include:

•Changes in the FTC Used Car Rule & Buyers Guide.•Review of NJ law requiring price labeling of used vehicle inventory.•Required warranties; when they can be waived; and “as-is” sales.

Due to strong Sponsor support, the cost of this Workshop is only $99 per person (NJ CAR Dealer Members). It begins at 9:30 AM (registration and Continental Breakfast at 9 AM) and concludes at 12:15 PM. The event will be held at the Holiday Inn Clark (Exit 135 of the Garden State Parkway). Register online at the NJ CAR Academy pageor fill out and return the enclosed Registration Form attached to this NewsLetter.