From the President
HIADA members were treated to an informative program on Oct. 19th presented by Lenders Car Financial Services, Spartan Financial Services, and Primalend. Our speakers explained their programs in detail and answered our questions and concerns.
In news pertinent to our used cars industry in October the US Senate voted to overturn the Consumer Financial Protection Bureau's arbitration rule. This law would have prevented banks and other financial institutions from including arbitration clauses in contracts such as auto loans. This ruling serves as a big win for independent auto dealers.
Nov. 14th HIADA will host Bill Murphy with Collateral Protection Bureau and Charlotte Kirk with Texas DMV. Mr. Murphy will be covering some major changes in the automobile insurance industry, which will have a major impact on the buy-here-pay-here businesses. Ms. Kirk will be explaining the details and benefits of electronic title transferring procedures. Be sure to RSVP!
Please join me in welcoming our newest members Bennie Swain of Bennie Swain Investments Co. Auto Sales & Ubaid Motiwala from Auto Selection of Houston. We are growing in size, knowledge and collective power. I look forward to seeing you at our Nov. 14th meeting, and hope you have a successful month in November.
Sincerely yours,
Rick Maroney