2021 Issue 1 Articles

I started in the car business in January 2003. After selling cars for seven months and being the top salesperson for 3 of those months, I was offered the finance manager position. My sales manager told me that she would sign out a cash deal with me in the office to observe and then I would “just have to figure it out.” Talk about being thrown into the fire!

Back in 1999, IADA chose to work with CVR to streamline the title and registration process, and provide the members with a program that makes this part of the car selling process easier and much more convenient for the buyer.

In the auto industry, the sale of aftermarket or voluntary protection products (“voluntary products”) is an important source of profit to a dealership. NADA has reported that dealer finance departments’ sales of voluntary products continue to drive dealership revenue. Sources of revenue from the sale of these products include vehicle extended service contracts, guaranteed asset protection (GAP), and credit life and disability insurance. Other voluntary products include dent repair, window etching and products related to financing of the vehicle, among others.

On behalf of the IADA Board of Directors and staff, I would like to thank all our members for your support of association activities this past year. 2020 was a year like no other. IADA celebrated its 100th year anniversary dedicated to representing automobile and truck dealers’ needs in Illinois. United through membership in IADA, members seek to achieve through “one voice” that which is impossible to achieve alone.