Pub. 6 2016 Issue 1

4 AUTOMOBILE DEALER NEWS ILLINOIS www.illinoisdealers.com Illinois Automobile Dealers Association 300 West Edwards Street Springfield, Illinois 62704 T 217.753.0220 F 217.753.3424 www.IllinoisDealers.com The ILLINOIS AUTOMOBILE DEALER NEWS ispublished by The newsLINK Group, LLC and is the official publication of the Illinois Automobile Dealers Association. The ILLINOIS AUTOMOBILE DEALER NEWS is published 4 times per year. The statements and opinions expressed herein are those of the individual authors and do not necessarily represent the views of ILLINOIS AUTOMOBILE DEALER NEWS , or its publisher The newsLINK Group, LLC. Any legal advice should be regarded as general information. It is strongly recommended that one contact an attorney for counsel regarding specific circumstances. Likewise, the appearance of advertisers does not constitute an endorsement of the products or services featured by The newsLINK Group, LLC. CONTENTS Vol. 24 No. 1 Helping you focus on the road ahead. You put everything you have into your dealership. We get it. SunTrust Commercial Dealer Services understands the unique financial challenges you face, and like you, we’re dedicated to your success. Who is SunTrust? • SunTrust Bank is one of the nation’s top ten banking organizations • For over 50 years, we have partnered with over 600 auto dealer clients and share your commitment to the auto industry • We offer a variety of tailored solutions from floorplan to acquisition financing, real estate programs to cash management, and building personal wealth to retirement, while offering competitive retail programs • Our experienced team has the knowledge, capabilities, and responsiveness to provide what you’re looking for in a financial partner To learn more, contact: Scott Worthing 312.356.3308 phone scott.a.worthing@suntrust.com SunTrust Bank, Member FDIC. ©2015 SunTrust Banks, Inc. SunTrust is a federally registered service mark of SunTrust Banks, Inc. 030215 NOW IN CHICAGO & MIDWEST 6 IADA President’s Message 8 IADA Convenes Its Fall Board of Directors Meeting in Chicago, Nov. 19-20, 2015 10 Counselor’s Corner: Dealership Appraisals – Do Not Overlook Step One: Define the Scope of Your Expectations 14 2016 IADA CATA Annual Dealer Conference The Ritz Carlton - Key Biscayne, Florida March 20 - March 24, 2016 16 Consultant’s Corner: Monthly Goal = Daily Focus 20 Problem Solving When the Stakes Are High