NEW NJMVC POWER OF ATTORNEY AND THE IMPACT ON DEALERSHIPS Issue 3 | 2023
Running a dealership comes with its share of uncertain terrain. But one thing is certain. Our Dealer Financial Services team is dedicated to being by your side with the resources, solutions and vision to see you through. John Kratsch john.r.kratsch@bofa.com 862.485.4467 business.bofa.com/dealer Making business easier for auto dealers. Especially now. Chris McCawley christopher.mccawley@bofa.com 267.675.0151 “Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA. Investment products offered by Investment Banking Affiliates: | Are Not FDIC Insured | Are Not Bank Guaranteed | May Lose Value | ©2022 Bank of America Corporation. All rights reserved. 4826555 08-22-0145
WE MEAN BUSINESS New York • Newark • Jersey City • Basking Ridge • Philadelphia Genova Burns LLC • www.genovaburns.com ATTORNEYS AT LAW
EDITOR: BRIAN HUGHES PUBLISHED BY THE NEWSLINK GROUP, LLC 855.747.4003 ©2023 New Jersey Coalition of Automotive Retailers | The newsLINK Group, LLC. All rights reserved. The New Jersey Auto Retailer is published four times each year by The newsLINK Group, LLC for the New Jersey Coalition of Automotive Retailers (NJCAR) and is the official publication for this association. The information contained in this publication is intended to provide general information for review, consideration and dealer education. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of NJ CAR, its board of directors, or the publisher. Likewise, the appearance of advertisements within this publication does not constitute an endorsement or recommendation of any product or service advertised. The New Jersey Auto Retailer is a collective work, and as such, some articles are submitted by authors who are independent of NJ CAR. While NJ CAR encourages a first-print policy, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior written permission. For further information, please contact the publisher at 855.747.4003. table of CONTENTS NJ CAR Executive Committee and Board of Trustees 2022-2023 NJ CAR BOARD OF TRUSTEES BY REGION NORTHERN REGION I (Bergen, Essex, Hudson, Passaic, Sussex) Joseph Agresta, Jr. Timothy Allocca Jeffrey Brown John Fette Tim Hlavenka (Alt.) William Kundert, Jr. Brian Lam Renee P. McGuire James Russomano (Alt.) Richard Selman (Alt.) Todd Van Duren NORTHERN REGION II (Hunterdon, Morris, Somerset, Union, Warren) Scott Barna (Alt.) David Ferraez John Johnson, Jr. Sean Lyons Chris Preziosi, Jr. (Alt.) Edward J. Rossi William L. Strauss, III Stephen Tilton James Curley, III ....................................................................................Chairman Eric Nielsen ...................................................................................Vice Chairman Ronald E. Baus, Jr. .................................................................................Secretary Andy Shapiro ..........................................................................................Treasurer Michael P. DeSilva ...................... Regional Vice President (Northern Region I) Mark Montenero ........................Regional Vice President (Northern Region II) Richard Malouf, Jr. ..........................Regional Vice President (Central Region) Ed Barlow, III ................................Regional Vice President (Southern Region) Michael P. DiFeo .....................................................................Budget Chairman Michael McGuire ...................................NJ CAR Insurance Co. Ltd. Chairman Richard DeSilva, Jr. .......................................NJ CAR Services, Inc. President Richard DeSilva, Jr. ...........................................NADA Director for New Jersey Frank M. Pezzolla ..................................................Truck Committee Chairman Charles S. Miller ...................................................................CAR-PAC President Thomas DeFelice, lll ............................................................NextGen Chairman James B. Appleton ...............................................................................President CENTRAL REGION (Middlesex, Monmouth, Ocean) Robert Ciasulli Thomas Faragall Garry Foltz Elizabeth Giglio (Alt.) Adam Kraushaar Melissa Longo Shari Sandidge (Alt.) Paul Sansone, Jr. Anton Semprivivo David Wintrode, Sr. (Alt.) Jordan Wright SOUTHERN REGION (Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Mercer, Salem) Russell Abate Jason Elkins Jeremy Fisher William Kassner (Alt.) Steven Kindle (Alt.) Judith Krupnick David Kull Peter Lanzavecchia (Alt.) Stacey Lilliston James McCormick Robert D. McCormick Tina Wright 6 President’s Message CAR-PAC is Making a Final Push To Raise $500,000 Ahead of 2023 Elections BY JAMES B. APPLETON 10 Chairman’s Message Support New Jersey Consumers And Help NJ CAR Fight The Adoption of ACCII BY JAMES CURLEY, III 12 NADA Director’s Message NADA Working on a Wide Variety of Critical Legislative Priorities BY RICK DeSILVA, JR. 14 It’s Time To Acquire Inventory Like Your Job Depends on It … Because It Does BY STU ZALUD 16 5 Questions With... Assemblywoman Ellen Park, 37th Legislative District Senator Troy Singleton, 7th Legislative District 20 New NJMVC Power of Attorney and the Impact on Dealerships BY GREYSON HANNIGAN 23 Charge Up New Jersey EV Incentive Program 26 Deleting Customer Data Stored in Vehicles Best Practice or Legal Requirement? BY DAVID ESTRADA 28 NJ CAR Partners Will Soon Introduce Brief Health Benefit Videos BY BRUCE MAZZARELLI AND STEPHEN HORVAT 29 Every Dealership Should Be a Member of NJ CARPOOL 30 Thank You to Those Who Contributed to NADA PAC 32 NJ CAR Recognizes the Dealerships That Have Contributed to CAR-PAC 4 new jersey auto retailer
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PRESIDENT’S MESSAGE CAR-PAC is Making a Final Push To Raise $500,000 Ahead of 2023 Elections JAMES B. APPLETON CAR-PAC, the Coalition’s political action committee, has raised nearly $318,000 as of September 18, 2023, and has set an ambitious goal of raising $500,000 ahead of the elections this November. The funds contributed to CAR-PAC help the Coalition ensure the franchised new car and truck retailer industry’s voice is heard in Trenton on a wide variety of important public policy issues. It is critical that EVERY dealership contributes to CAR-PAC to ensure we have the necessary financial resources to support candidates (on both sides of the aisle) who support the franchised retail automotive industry in New Jersey. CAR-PAC advocates on behalf of New Jersey’s franchised dealerships and works tirelessly to educate legislators on the many contributions the industry makes to the state’s economy. Remember, ALL 120 MEMBERS of the New Jersey State Senate and General Assembly are up for re-election in November, and New Jersey’s 500 neighborhood new car and truck dealerships have a huge stake in the outcome of this election, which may have unexpected competitive races, thanks to the newly drawn legislative districts. NJ CAR appreciates the support of the 300 dealers who consistently contribute to CAR-PAC and hopes they will continue their support. The Coalition hopes those dealers who have not previously contributed will reconsider supporting this critical tool for NJ CAR. NJ CAR currently invoices dealers $1,000 per year to keep CAR-PAC funded properly, but it is important to know that the New Jersey Election Law Enforcement Commission (ELEC) rules allow Continued on page 8 6 new jersey auto retailer
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contributions to a political action committee of up to $8,200 per business or jointly-controlled business. That means a dealer that owns one store can contribute up to $8,200 per two-year election cycle, while a dealer with 15 stores can contribute a TOTAL of $8,200 across all stores (about $546 per store). And don’t forget, those contributions can be made with corporate funds. CAR-PAC has set a goal to raise $500,000 for this year’s elections. Please contribute as much as you can comfortably afford. Checks should be made payable to CAR-PAC and forwarded to NJ CAR Headquarters (856 River Road, West Trenton, NJ 08628). If you have any questions regarding how much your dealership or dealership group can contribute this election cycle, please contact Jim Appleton at (609) 883-5056, x330 or via email at jappleton@njcar.org, and he will have staff look into what you can still legally donate to CAR-PAC. Please support CAR-PAC with a generous contribution so they can continue supporting all of New Jersey’s neighborhood new car and truck dealerships. We navigate you forward. The auto industry faces massive disruptions in the short and long term. Innovators and factories alike threaten the business model. In times like these, you need seasoned practitioners to guide you through the detours and roadblocks. ArentFox Schiff is here to navigate you forward – through this crisis and the next. Smart In Your World afslaw.com CAR-PAC ADVOCATES ON BEHALF OF NEW JERSEY’S FRANCHISED DEALERSHIPS AND WORKS TIRELESSLY TO EDUCATE LEGISLATORS ON THE MANY CONTRIBUTIONS THE INDUSTRY MAKES TO THE STATE’S ECONOMY. Continued from page 6 8 new jersey auto retailer
CALL US NOW 877.875.6906 30 Two Bridges Rd. Suite 240, Fair eld NJ 07004 • www.vanguarddealerservices.com FOLLOW US ON OUR SOCIAL NETWORKS OUR DEALERS BENEFIT FROM: Free F&I Specialists/ Emergency Fill-in Better Managed Sales and F&I Departments Low Employee Turnover Compliance Experts Continuous In-house Coaching Higher CSI Scores and Customer Retention Rates EV Solutions Specialists Ongoing Compliance Staffing Support Free, Confidential, Honest Sales Strategy and Proficiency Analysis. SCAN ME F&I PRODUCT TRAINING SALES TRAINING
CHAIRMAN’S MESSAGE Support New Jersey Consumers And Help NJ CAR Fight The Adoption of ACCII JAMES CURLEY, III My tenure as NJ CAR Chairman runs through the end of 2023. Time really does fly when you’re having fun … if you call “dealing with all of the legal, legislative and public affairs challenges the car business faced this past year” fun. We can all agree that 2023 has been a great year in the car business for dealers and manufacturers, but we can also see the challenges that lie ahead. Dealers and OEMs have never made as much money selling new cars as we have in the past couple of years. But I don’t think anyone expects that to last forever. Indeed, there are already signs that inventories are starting to grow, and incentives are creeping back into the market as new car prices soar. Consumers are starting to pump the brakes, and dealers are concerned that we are headed to a market in which working- and middle-class families simply won’t be able to afford a new car or truck. Meanwhile, state and federal government officials are hell-bent on transforming the retail automobile market to an all-electric vehicle market in a little more than a decade. And the OEMs seem ready to comply, regardless of what consumers want. NJ CAR has launched an aggressive grassroots campaign to mobilize dealership employees to write and email their state legislators to urge them to tell the New Jersey Department of Environmental Protection (DEP) to reconsider its adoption of California’s Advanced Clean Car II (ACCII) rule. We have already generated thousands of email contacts to legislative offices, and many legislators on both sides of the political aisle have reached out to DEP and the Governor’s Office to question this radical public policy initiative. We have a second campaign targeting Governor Murphy himself that has already generated hundreds of responses. NJ CAR has urged the DEP — and we have asked our friends and supporters in the Legislature to urge the DEP — NOT to adopt ACCII. Rather, we have asked the DEP to go back to the drawing board and compare the costs and benefits of adopting ACCII versus allowing New Jersey to revert to the federal clean car program. The Biden Administration recently proposed a massive overhaul of the federal clean car program that is nearly as stringent as ACCII but which allows OEMs, dealers, and consumers more choice and greater flexibility on how to meet the requirements. The sad fact is DEP never even studied the new federal plan or analyzed whether it would be better for New Jersey. We have serious concerns about whether the proposed regulations square with the New Jersey Clean Car law. We also question whether unelected public officials ought to be making such consequential decisions affecting New Jersey’s $40 billion per year auto retail sector. Common sense and good governance 10 new jersey auto retailer
• Knowledgable and local Account Manager • Over 150 years of energy experience • Tailored advice from market experts • Pricing programs that fit your needs • Outstanding Customer Care Member benefits: Call today for your free, no-obligation natural gas or power quote! Gail Caputi, Program Manager 609.760.2043 | gcaputi@njcar.org Peter Jagodzinski, Account Manager pjagodzinski@spragueenergy.com | 732.440.0038 Customized Natural Gas & Power Solutions Take Advantage of your membership benefits would suggest that big decisions like this should be made by the elected members of the New Jersey Legislature, not a lame-duck governor or his political appointees. The regulations published in late August are now subject to a 60-day public comment period that runs through late October. The Governor’s plan is to have these regulations in place before the end of the year, which would put us on track to be a 35% EV market by 2027. These percentages ramp up quickly to 100% by 2035. I don’t think there is anyone in this room that believes that’s a realistic time frame. How about we get to a 20% or 30% EV market before we start talking about 100%? Simply put, New Jersey will be a 100% EV market when consumers say they want it, not when government officials mandate it. NJ CAR is working hard to persuade the DEP to back off, and if they don’t, we’re asking the legislature to take the wheel and steer EV policy back onto the right road. Every dealer should be asking every one of their employees to contact their local legislators to have them ask the DEP to rethink the adoption of ACCII. The Coalition has made it incredibly easy with the creation of the NJ CARPOOL grassroots political action network. If you haven’t already done so, contact Anne Smith at asmith@njcar.org, and she’ll take care of enrolling your employees in the network. I also encourage every dealer to contribute as much as they are comfortable (and legally allowed) to CAR-PAC, NJ CAR’s political action committee. The money we raise for CAR-PAC goes to support candidates for the State Assembly and Senate who will eventually — one way or the other — have the final say on EV policy in this state. SIMPLY PUT, NEW JERSEY WILL BE A 100% EV MARKET WHEN CONSUMERS SAY THEY WANT IT, NOT WHEN GOVERNMENT OFFICIALS MANDATE IT. 11 new jersey auto retailer
NADA DIRECTOR’S MESSAGE NADA Working on a Wide Variety of Critical Legislative Priorities RICK DeSILVA, JR. Below is a recap of some of the most critical legislative priorities that NADA is addressing on half of franchised new car and truck dealerships across the country. NADA AIMS FOR “DO OVER” ON THE FTC’S $38 BILLION “VEHICLE SHOPPING RULE” The Federal Trade Commission (FTC) recently proposed a “Vehicle Shopping Rule” that would overwhelm car buyers and small businesses with additional paperwork and needlessly lengthen the sales process. The rule was proposed without credible analysis or the necessary time for public comment to avoid unintended consequences for consumers and small businesses. A comprehensive study by the Center for Automotive Research found that the rule would cost businesses more than $38 billion over the next decade. Overall, the FTC’s proposed rule would make the auto buying experience worse, not better, for consumers. The “FTC REDO Act” directs the FTC to “redo” its flawed “Vehicle Shopping Rule,” but this time with basic regulatory safeguards the agency should have properly undertaken in the first place. The bill requires the FTC to 1) issue an Advance Notice of Proposed Rulemaking; 2) conduct a quantitative study on auto retailing; 3) conduct consumer testing; and 4) publish a cost benefit analysis based on actual data. The FTC failed to perform any of these essential steps before proposing its rule. Additionally, earlier this Summer, the House Appropriations Committee reported out an appropriations bill (H.R. 4664) which included language that stops the FTC from finalizing, implementing, or enforcing the “Vehicle Shopping Rule.” NADA is urging members of Congress to cosponsor the “FTC REDO Act” to prevent the agency from needlessly imposing significant burdens and costs on consumers and small business dealers. EV MANDATES GO TOO FAR TOO FAST The Environmental Protection Agency (EPA) recently proposed new emissions standards that would effectively require 67.5% of U.S. car sales to be electric by 2032. New car and truck dealers are essential to sell and service EVs and have already invested $5 billion of their own capital in the tools, equipment, training, and recharging infrastructure, which are critical to laying the foundation to move from early adopters to mass marketing EVs to the average consumer. Despite federal incentives, customers are not purchasing electric vehicles in the quantities required for automakers to meet these different government mandates. The current EPA proposal ignores real-world consumer demand and, as a result, goes too far, too fast. Consumers are not moving as fast as the proposed regulations, largely because of other changes needed to make EVs broadly attractive to consumers: affordability, a sufficient and reliable charging infrastructure, and acceptable charging speeds. 12 new jersey auto retailer
A single national standard for achievable greenhouse gas regulations that leverages consumer demand is needed to produce the fleet turnover necessary to deliver environmental benefits. NADA is urging members of Congress to sign letters to congressional leadership warning that unless the EPA creates a national greenhouse gas standard that is reasonable and achievable for all 50 states and stops attempting to ban the sale of gas-powered cars, Congress will need to step in. NADA URGING CONGRESS TO PASS THE “SUPPLY CHAIN DISRUPTIONS RELIEF ACT” Under existing law, the Treasury Department has authority to allow businesses that utilize the last-in, first-out (LIFO) accounting extended time to replace inventory if a “major foreign trade interruption” makes inventory replacement difficult or impossible. Pandemic-related global disruptions and reduced auto production made it impossible for dealers to replenish new vehicle supply. Under the “Supply Chain Disruptions Relief Act” (H.R. 700/S. 443), Congress would determine that the conditions, necessary to grant additional time to replace vehicle inventories under existing law due to pandemic-related foreign trade interruptions, have been met. As a result of supply chain disruptions beyond the dealers’ control, LIFO recapture triggered significant, unexpected tax liability that continues to harm many smaller, multi-generational family dealerships. NADA is urging members of Congress to cosponsor the “Supply Chain Disruptions Relief Act” and to pass this legislation at the earliest opportunity. NADA SUPPORTS “PRESERVING CHOICE IN VEHICLE PURCHASES ACT” (H.R. 1435) The “Preserving Choice In Vehicle Purchases Act” (H.R. 1435) was introduced in March 2023 and passed in the U.S. House of Representatives on September 14, 2023. It now awaits consideration in the Senate. The legislation would amend the Clean Air Act to prevent the elimination of the sale of internal combustion engine and put the U.S. on a path to one national standard, as opposed to a piecemeal approach across the country. NADA will continue urging the Senate to pass this important legislation. Contact us today to place your announcement ad Call 801-676-9722 Or scan the qr code to fill out the form. Who to congratulate , who to acknowledge , and who to thank for a job well done. Employees are motivated when they are recognized and feel valued. The New Jersey Auto Retailer magazine is a great platform to celebrate your team's accomplishments!
It’s Time To Acquire Inventory Like Your Job Depends on It … BECAUSE IT DOES BY STU ZALUD, ACV AUCTIONS How important are vehicles to your lot’s success? Chances are that your answer is loud and clear — VERY. Sure, that may seem obvious, but breaking down the importance of cars in our modern society makes it more and more evident just how critical automobiles are to people and communities. Without them, your dealership won’t have a store, a brand, or a purpose. Vehicles are a constant in American culture, with over 275 million cars registered in the country as of 2020. This statistic tells us about the important role automotive retail plays in the daily lives of consumers across the nation. Moreover, with cars typically being the second-largest purchase the average American makes, it is increasingly important that automotive dealerships are equipped to handle demand with a steady supply of inventory that is appropriately priced. Because the customer experience is so important, how can dealers position themselves as a quality option for selective shoppers? Acquisition plays a major factor in your ability to meet the needs of customers, but let’s face it — yesterday’s methods for stocking dealership lots are antiquated, lacking the zest and speed that modern consumers desire. Shopping for cars has evolved into a hybrid approach that combines traditional brick-and-mortar interactions with digital touchpoints. That means dealers need to be dynamic in how they acquire vehicles to meet the needs of a rapidly evolving consumer in the marketplace. The best avenue to achieve that is by learning what consumers want. Put simply, the 275 million used vehicles that are driving on American roads are continually sought out for a variety of reasons. As consumers grow out of their leases, payments or simply want something new, your dealership will ultimately play a vital role in providing used vehicle options. As a result, those vehicles on the road are potential pieces of inventory. A dealership’s goal should be to shorten the gap and provide opportunities for consumers to trade in their cars no matter what their situation is. This approach toward consumer acquisition is important as it provides dealerships the chance to stock automobiles that will sell quickly to their unique customer base. HOW CAN DEALERS ACCOMPLISH THIS? The first step should include covering your basics. Start with a process that simply asks customers to trade their vehicles into your dealership. This can be done through your sales team, BDC, or even the service lane. Don’t be afraid to ask your customers if they are thinking about moving into a new car or truck. Many shoppers may not realize they are ready to get rid of their 14 new jersey auto retailer
vehicles, so give them the motivation to do so. You don’t have to create a hostile, high-pressure environment; rather, you can act as a consultant and provide them with options while they are on your lot. Be transparent in your approach and use a walkaround method for appraising their vehicle. Establish trust and be honest in pricing from the beginning. WHAT ABOUT SHOPPERS NOT ON YOUR LOT? This is where digital marketing, social media, and widgets come into play. Acquiring consumer inventory requires you to break down friction points and offer bridges that connect your team with potential sellers. Particularly for widgets on your website, consider moving past antiquated solutions and integrate a modern tool that can increase your form completion rate, provide better accuracy on pricing, and deliver an improved overall experience. This is a surefire way to drive more street leads and pack your lot with not just any inventory … but the right inventory. When it comes to acquiring consumer inventory, it’s about getting creative. Many dealers will put a sign in front of their store, while others try cold calling. Some will pay for advertising via TV commercials or billboards, but when it comes to grabbing the attention of drivers, the sky is the limit. Bring your team together and run a contest to see who has the best idea. Get a game plan in place based on your team’s feedback and execute them based on fresh ideas. Successful consumer acquisition comes from innovation, and now is the time to push the envelope. At the end of the day, you need to think outside the box. As it was once said, “The definition of insanity is doing the same thing over and over and expecting a different result.” Stop doing things the old way and thinking they will net you more inventory. Approach consumer acquisitions as if your job and dealership depend on it — because in 2023, it does. Strive to provide a transparent experience to your customers when looking to acquire their car. Platforms like ACV can help in providing a fair and honest price to your customer by leveraging advanced, accurate data. When it comes to buying vehicles wholesale, work with a partner that offers a full vehicle inspection so you know exactly what you’re buying before you make the investment, thus maximizing your overall profit. Stu Zalud is Director of Strategic Partnerships at ACV Auctions. He can be reached at (843) 247-3565 or via email at szalud@acvauctions.com. YOUR GOAL SHOULD BE TO SHORTEN THE GAP AND PROVIDE OPPORTUNITIES FOR CONSUMERS TO TRADE IN THEIR CARS NO MATTER WHAT THEIR SITUATION IS. 15 new jersey auto retailer
1) What inspired you to run for office and become a legislator? I came to this country with my parents when I was six years old. I worked hard to learn the language, excel in my studies and eventually graduate from law school. I know I had the quintessential American dream, but I also know that dream is becoming harder and harder to capture. I got into politics to serve the community and the country that has given me so much. 2) What is your greatest achievement and greatest disappointment as a legislator? If you could change one thing in Trenton, what would it be? This is a big question for a freshman legislator, but I would say my greatest achievement has been getting my Lunar New Year Resolution through the Assembly, and I look forward to getting it through the Senate in the coming months. I don’t know that I see anything as a disappointment quite yet. I see obstacles as learning opportunities. I am still learning the ins and outs, so whenever I hit a roadblock, I learn more about the legislature, our role, our relationship with the administration, the advocates, and how it all works together. Again, it isn’t easy, but it’s the business of getting things done on the state level. One thing I would improve in Trenton if I had a magic wand — and I think we are moving in the right direction, especially in the last election cycle — is increasing diversity. Not just the diversity of color, but the diversity of gender, creed, and class to make sure that diversity is reflected at the decision-making table. Again, I think we are really improving, especially here in District 37, but that’s one thing I think we could still use some movement on. 3) What are the legislative priorities, issues, or areas of concern you would like to focus your attention on? I want to bring our state and local levels into the 21st century. Right now, we are operating on computer systems from the 1980’s. We need to improve the way we communicate and interact with the public. There is no excuse for this, especially when it comes to systems people rely on for food, heat, and housing. 4) Coming out of the pandemic, what are the lessons you’ve learned, and how do you think those lessons should guide public policymakers going forward? First, we must have the systems New Jerseyans need in times of crisis working in a way that makes them easy to use, understand and access. That is urgent, and we can’t wait for the next pandemic to make these changes. Second, on a state and national level, we have to have a better way to combat misinformation. For me, the clearest thing that came out of the pandemic was how connected we truly are, meaning we are only as safe as our most vulnerable neighbors and are only as informed as our least informed communities. So, we cannot ignore, silo, or isolate anybody or group because, whether we like it or not, we are all in this together. 5) What was the make and model of the vehicle you learned how to drive in? What was the first vehicle you owned, new or used? My first car was a Nissan 240SX that I had in my senior year of high school. I loved that car. We drove it everywhere from Queens to Canada and down to Virginia Beach, too. ASSEMBLYWOMAN ELLEN PARK 37th Legislative District 5questions with... 16 new jersey auto retailer
22 Florence Street • South Hackensack, NJ 07606 • Learn more at WASCOonline.com • 800-732-4511 Why Should Your Dealership Partner With WASCO? Dealership Supplies & Exceptional Customer Service WASCO helps me manage a very diverse, very difficult business. Interacting with many vendors on my behalf really helps me simplify the entire process. — Ed Rossi, Rossi Chevrolet Buick GMC “ ” VOLUME PRICING DISCOUNTS PURCHASING EFFICIENCY ANNUAL DIVIDEND 1) What inspired you to run for office and become a legislator? I was inspired to run for office by my former boss and mentor, Honorable Joseph Roberts, who served as the Assembly Speaker from 2007-2010. 2) What is your greatest achievement and greatest disappointment as a legislator? My greatest achievement, without a doubt, is championing New Jersey’s environmental justice law, which is serving as a model for the nation. This law ensures that no one community bears a greater environmental burden than benefit. SENATOR TROY SINGLETON 7th Legislative District My greatest disappointment is not getting Lisa’s Law passed. This bill would have helped protect victims of domestic violence by allowing courts to order electronic monitoring of certain offenders. 3) What are the legislative priorities, issues, or areas of concern you would like to focus your attention on? As Chairman of the Community and Urban Affairs Committee, housing affordability and accessibility are ongoing priorities for me. Additionally, policies that ensure that economic growth is equitable. 4) If you could change one thing in Trenton, what would it be? If I could change anything in Trenton, it would be the pace at which we do things. We don’t allow enough time for big ideas to be fully developed. 5) What was the make and model of the vehicle you learned how to drive in? What was the first vehicle you owned, new or used? I learned to drive in a Plymouth Horizon. The first car I owned was a Nissan Altima. 17 new jersey auto retailer
As a recognized leader in the industry, Citrin Cooperman’s Automotive Dealership Practice continually provides local-level attention and top-notch client service through a robust foundation of highly specialized expertise and a team of dedicated professionals. Start your journey towards excellence by contacting us today. citrincooperman.com "Citrin Cooperman" is the brand name under which Citrin Cooperman Advisors LLC and Citrin Cooperman & Company, LLP, independently owned entities, provide professional services in an alternative practice structure in accordance with applicable professional standards. ELLEN KERA Partner ekera@citrincooperman.com WILL FERNANDEZ Partner wfernandez@citrincooperman.com 290 W. Mt. Pleasant Avenue, Suite 3310, Livingston, NJ 07039 709 Westchester Avenue, White Plains, NY 10604
New NJMVC Power of Attorney and the Impact on Dealerships BY GREYSON HANNIGAN DIRECTOR OF LEGAL AND REGULATORY AFFAIRS, NJ CAR Effective October 30, 2023 (extended from September 15, 2023), dealerships must conform to New Powers of Attorney (POAs), Odometer Disclosure Statement, and new rules for General and Limited POAs announced by the New Jersey Motor Vehicle Commission (NJMVC). NJ CAR has hosted several webinars and produced both a comprehensive FAQ document and a Quick Reference Guide. All of these materials are accessible under the News section of the NJ CAR website (www.njcar.org). Below are some of the highlights regarding the biggest NJMVC change to POAs in more than 25 years: • NJMVC requires a new Non-Secure POA to be used if dealerships choose to use electronic signatures on POAs. Additionally, the NJMVC requires a Secure POA to be used when the title is either lost or held by a lienholder (i.e., the classic trade situation). • Dealerships who do not wish to implement the new NonSecure POA to be used with electronic signatures may continue to use a General or Limited POA that can be on Dealer Letterhead. However, these POAs must now be notarized. • Whether a dealership implements the new Non-Secure POA or continues to use their current General or Limited POAs, they must also supply an Odometer Disclosure Statement that can either be electronically signed or wet signed. • While the forms are effective immediately, dealers can utilize the grace period until October 30, 2023, to familiarize themselves with the forms and upload the NonSecure POA and Odometer Disclosure Statement in their systems to be e-signed. • NJMVC considers the period before 10/30/23 as a phasein period. Dealerships must be implementing the new POAs starting NOW. This means that any motor vehicle transaction submitted after 10/30/23 (for sales that occurred before 10/30/23) must use the new POAs. • After 10/30/23, all transactions for SALES OCCURRING PRIOR TO 10/30/23 submitted to local NJMVC Agencies or NJ CAR for processing must conform to the new POAs and new rules for Dealer POAs or they will be REJECTED. • If these MV transactions are submitted to local NJMVC Agencies or NJ CAR before 10/30/23 for processing, they can use current POAs or the new POAs. We strongly suggest that dealerships should not wait to implement these new POAs and new rules. DEALER POAS To be used during regular purchases or trades — with title in hand for signing documents, (including the title and registration on behalf of the customer) — dealerships can continue to use this POA. It must be notarized and have a Notary Commission Expiration date. The Notary cannot sign for the dealership. The POA must have the following in order to be notarized: • The owner(s) address • The address of the dealership (if not on Dealership Letterhead) • Must be accompanied by an Odometer Disclosure Statement ° May list more than one (1) dealership representative If you have an MCO, NJ Title, Out-of-State Title with a New Jersey Reassignment that is not being signed by the customer as a buyer, a notarized dealership POA (signed by the customer) appointing a dealership representative may be used. If you have a trade title (New Jersey or Out-of-State Title) that is not being signed by the customer as a seller, a Notarized Dealership POA (signed by the customer) appointing the Dealership Representative may be used. Non-Secure POA (NSPOA) NSPOAs must be used with Electronic Signatures. The NSPOA is not mandatory and cannot be forced on a customer. The NSPOA accomplishes everything the Limited, General, or Dealer POA is used for. It can be used for purchases only, never a trade. It does not require a notary, but it must be filled out digitally on a computer, or in the DMS, and must be accompanied by an Odometer Disclosure Statement. The user may list more than 20 new jersey auto retailer
one (1) Dealership Representative, but it must be accompanied by a Certificate of Completion for all signatures. If you have a New Jersey or Out-of-State Title with a New Jersey Reassignment or MCO that is not being signed by the customer as a buyer, a Non-Secure POA that is digitally completed and electronically signed by the customer, certifying the Dealer Representative, may be used. The NSPOA must include a Certificate of Completion for all signatures. SECURE POA (SPOA) The SPOA is used only when a Title is lost or held by a lienholder and is mandatory. A separate Odometer Disclosure Statement is not needed and does not require a notary, but it must be filled out digitally, printed, and wet-signed. The SPOA must contain the following three (3) security features: • A star at the top left over NJMVC • A Vehicle Identification Number (VIN) • Watermark Signatures Part A is filled out by the person trading in the vehicle. Part B is filled out by a new customer when the dealership is awaiting the title. Part C is always filled out. If a dealership takes a vehicle in trade, the title is then held by the bank while awaiting a payoff and release of the title. If the dealership does not have the title in hand to be signed by both the buyer and seller, then Parts A and C must be completed. If the vehicle described above, which had been taken in trade, is subsequently sold before the dealership has received the title from the bank, the purchaser of the vehicle must complete Part B. This confirms the true mileage at the time they purchased the vehicle. Parts A, B, and C are then submitted. Odometer Disclosure Statement (OS-SS-2) The Odometer Disclosure Statement is used to state the total mileage upon the transfer of ownership. It is required to be submitted with the Dealer POA, NSPOA — if implemented — and a Leasing POA, unless an exemption applies. It is not required to be filed with a Secure POA, but a separate Odometer Disclosure Statement must be submitted for each Lease or Fleet transaction. The Odometer Disclosure Statement must be signed by both the buyer and the seller. It cannot be signed using a POA. The statement can be electronically signed, but must be done so with an accompanying Certificate of Completion. If it is used for Mileage Corrections, it must be wet-signed and notarized. Only the primary owner is required to sign; a co-owner’s signature is not necessary. If the source document is a New Jersey, Out-ofState Title, or MCO, the Title will be flipped into the purchasing customer’s name, and the dealership should use a POA to sign the title documents on behalf of the purchaser, then the purchaser must sign a separate Odometer Disclosure Statement. You cannot use a POA to sign for the customer. Alternatively, on a Lease, the lessee must sign the Odometer Disclosure Statement. Greyson Hannigan is NJ CAR’s Director of Legal and Regulatory Affairs. He can be reached at (609) 883-5056, x340 or via email at ghannigan@njcar.org. Scan this QR code to access NJ CAR’s comprehensive FAQs. https://njcar.org/wp-content/uploads/2023/07/ POA-FAQS-7-13-23Draft.pdf Scan this QR code to access NJ CAR’s Quick Reference Guide. https://njcar.org/wp-content/uploads/2023/08/ POA_Quick_Reference_Guide.pdf 21 new jersey auto retailer
The information contained herein is offered as insurance Industry guidance and provided as an overview of current market risks and available coverages and is intended for discussion purposes only. This publication is not intended to offer legal advice or client-specific risk management advice. Any description of insurance coverages is not meant to interpret specific coverages that your company may already have in place or that may be generally available. General insurance descriptions contained herein do not include complete Insurance policy definitions, terms, and/or conditions, and should not be relied on for coverage interpretation. Actual insurance policies must always be consulted for full coverage details and analysis. Insurance brokerage and related services to be provided by Arthur J. Gallagher Risk Management Services, Inc. (License No. 0D69293) and/ or its affiliate Arthur J. Gallagher & Co. Insurance Brokers of California, Inc. (License No. 0726293). © 2022 Arthur J. Gallagher & Co. | GGB41888 In association with ajg.com The Gallagher Way. Since 1927. • Broker-friendly access: Dealerships don’t need to give up their existing relationship. • Industry-specific classification rules: Premium reductions between 15%–20%. • Scheduled underwriting credits: Up to 25%, based on individual dealers’ risk profile. • Collaborative claims advocacy: Aggressive claims investigation and cost containment. • Access to NJ CAR’s Zero Injury Program: A proven industry loss prevention program. NJ CAR Workers’ Compensation Program Lowering costs for franchised auto dealers across New Jersey. NJ CAR in partnership with Gallagher and AmTrust, offers the industry's most comprehensive workers' compensation program custom tailored to New Jersey Franchised Auto Dealers. One of the key benefits of the program is a generous dividend return of up to 25% of your policy premium — not a credit applied to future premiums — and is based on individual loss experience rather than group performance. In 2022, the program paid $1,007,689 in dividends to participating dealers, beating the previous high of $840,505 paid in 2021. Other program benefits include: For more information, please contact: Pattie Collins Gallagher Area Senior Vice President T: 732.837.9150 | E: Pattie_Collins@ajg.com Charles Russo NJ CAR Director of Risk Management and Insurance T: 609.883.5056, ext 314 | E: crusso@njcar.org Northern New Jersey $2,264,134 Returned South Jersey $595,091 Returned Central New Jersey $$7903,035 Returned
The Fiscal Year 2024 (FY24) Charge Up New Jersey electric vehicle incentive program launched at 11 a.m. on July 12, 2023. It is important to note that any vehicle ordered, purchased, or leased after the FY23 program closure date (April 17th, 2023) and before the FY24 program launch date (July 12, 2023) will NOT be eligible for an incentive. The Center For Sustainable Energy (CSE), who is the administrator of the Charge Up New Jersey program, has provided some clarification regarding the process of reserving funding for ordered vehicles, dealership account updates, and troubleshooting common error messages when attempting to submit applications. In order for the reservation process to be completed as smoothly as possible, applicants must compile a series of documentation in order to be approved for a refund. The FY24 Charge Up New Jersey program will feature the same reservation process from the previous FY23 program, which will allow dealerships to submit applications for ordered vehicles, regardless of a delay in delivery. Applicants should use the Ordered Vehicles reference document as a guide for reserving the appropriate incentive for any customers who order an eligible Charge Up New Jersey EV Incentive Program 23 new jersey auto retailer
vehicle, and dealers can use the FY24 Placeholder Document to complete the initial application. Once the ordered vehicle is delivered, the dealership must upload the final documentation, including the vehicle purchase/lease agreement as well as registration. Dealer representatives must also compile the following documents for submission: • A signed and completed FY24 Terms & Conditions Form • A copy of the customer’s valid, unexpired New Jersey Driver’s License • Proof of the order document/vehicle configuration document listing the following: ° Name of customer ° Name of dealership ° Year, make, model, and trim (if applicable) of the ordered vehicle ° Date of order ° MSRP at the time of order ° The FY24 Placeholder document Please be advised that dealers have 14 days after the order of the vehicle to submit an application reserving the incentive. Then dealers will have 14 days after the vehicle has been delivered to submit all final documentation. The Ordered Vehicles reference document will provide further detail on the process, and the Duplicate VIN Errors document will help in the event that a placeholder VIN has already been assigned. NEW FOR FY24 If dealerships do not intend to reserve funding at the time of order, they must provide written notice to the customer noting that eligible vehicles will remain eligible for the incentive at the time of purchase or lease pending availability of funds. Dealerships may satisfy this requirement by providing the attached Dealership Deferment of Reserved Funds form to the customer for their review and signature at the time the customer orders the vehicle. This deferment form does not need to be uploaded with the other documents and may be kept on file at the dealership. If your dealership requires assistance in updating points of contact or correspondence, please use the FY24 Dealership Update document. NOTE: Per the Terms and Conditions of the program, the incentive is to be applied at the point of purchase/lease by the dealership and cannot be issued to the customer post-purchase via check. Any questions regarding the program can be directed to Charge Up New Jersey staff at chargeupnj@energycenter.org or call (877) 426-2474. You can also contact NJ CAR’s Director of Communications, Brian Hughes (bhughes@njcar.org), or NJ CAR’s Director of Government Affairs, Magdalena Padilla (mpadilla@njcar.org). 24 new jersey auto retailer
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Deleting Customer Data Stored in Vehicles Best Practice or Legal Requirement? BY DAVID ESTRADA, REGULATORY COMPLIANCE SPECIALIST, COMPLYAUTO As the deadline for compliance with the FTC’s revised Safeguards Rule has passed, some dealers may still have questions about implementing the FTC’s new requirements. From locking up deal jackets to installing multi-factor authentication, navigating the revised Safeguards Rule and understanding its legal requirements and practical demands has been challenging enough. In the past year, your inbox has likely been inundated with emails from vendors claiming that their product or service is “essential for Safeguards Rule compliance.” One of these emails in particular has caused many dealers concern, and it revolves around customer data stored in vehicles: “What about deleting customer data stored in vehicles? Is that required under the Safeguards Rule or any other law?” The short answer is no, but there is some important information to consider. INFORMATION IN VEHICLES AND THE FEDERAL SAFEGUARDS RULE In order to determine whether such data stored in vehicles is subject to the Safeguards Rule, we need to understand exactly what kind of data the Safeguards Rule directly affects and what it is attempting to protect. The Safeguards Rule is concerned with protecting non-public personal information (NPI), and under the GrammLeach-Bliley Act (GLBA), NPI is defined as “any record containing nonpublic personal information about a customer of a financial institution … that is handled or maintained by or on behalf of [the dealer] or [the dealer’s] affiliates.” This means that NPI includes: 1. Information a consumer provides in order to obtain a financial product or service 2. Information about a consumer resulting from any transaction involving a financial product or service 3. Any information obtained about a consumer in connection with providing a financial product or service The definition above focuses on “financial products or services,” and in the dealership context, this would mean that NPI is data that is directly derived from a finance or lease transaction. As you can imagine, this directly implicates information collected during the financial transaction: data such as customer social security numbers, dates of birth, and other credit-related information. NPI also includes more general types of customer information, such as the customer’s name and physical address. Most personal data that is stored in vehicles comes from people who are pairing their smartphones using USB cables or Bluetooth. As a whole, this data is generally limited to contact information, location information, text messages, and vehicle service history. Because the type of data typically stored in vehicles is not information derived directly from a financial transaction, it is considered a stretch to suggest that data typically stored in vehicles is NPI or is derived from a finance/lease transaction because the transaction has already concluded. In fact, at no point in their 145‑page document of the Safeguards Rule guidance does the FTC address the data stored in vehicles. 26 new jersey auto retailer
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