Pub. 14 2015-2016 Issue 2

N E W J E R S E Y C O A L I T I O N O F A U T O M O T I V E R E T A I L E R S 3 new jersey auto retailer W W W . N J C A R . O R G PUBLISHED BY THE NEWSLINK GROUP, LLC 855.747.4003 CONTENTS 4 Chairman’s Message JOHN MANGANELLI 5 President’s Message JAMES B. APPLETON 7 NADA Director’s Message MARCY H. MAGUIRE 8 The Evolution of F&I A Q&A WITH RICK McCORMICK 10 Building the Perfect F&I Department JUDY VANN KARSTADT 12 How to Sell More F&I JAN KELLY 16 F&I Compliance Has Become Complicated by Evolving Issues & New Regulations PATRICK COX 22 What the Customer Wants, the Customer Gets — Examining the Coming Future of F&I REBECCA CHERNEK ©2015 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 and is the official publication for this association. The information contained in this publication is intended to provide general information for review and consideration. 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 specific circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of the New Jersey Coalition of Automotive Retailers, 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 that are independent of the New Jersey Coalition of Automotive Retailers. While the New Jersey Auto Retailer 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. MEMBERS OF THE NJ CAR BOARD OF TRUSTEES 2015-2016 NJ CAR BOARD OF TRUSTEES BY REGION John Manganelli.......................................................................................................... Chairman Lawrence W. Kull................................................................................................. Vice Chairman Richard A. DeSilva, Jr.................................................................................................. Secretary Robert J. Larson........................................................................................................... Treasurer Scott R. Senior ................................................. Regional Vice President (Northern Region I) Leonard R. Datello .......................................... Regional Vice President (Northern Region II) Scott Halderman.................................................... Regional Vice President (Central Region) Peter Lanzaveocchia.......................................... Regional Vice President (Southern Region) Eric Nielsen ................................................................................................... Budget Chairman Edward J. Barlow, Jr ...................................................... NJ CAR Insurance Co. Ltd. Chairman David Wintrode....................................................................... NJ CAR Services, Inc. President Frank M. Pezzolla ......................................................................... Truck Committee Chairman Raymond M. Burke, III ................................................................................ CAR-PAC President Marcy H. Maguire...................................................................... NADA Director for New Jersey James B. Appleton ....................................................................................................... President NORTHERN REGION I (Bergen, Essex, Hudson, Union) Michael Ciasulli Michael DeSilva Michael F. Di Feo Sam X. Di Feo James R. Haskell Guy Johnson (Alt.) Brian Lam George Liang Mark Montenero (Alt.) Todd Van Duren NORTHERN REGION II (Morris, Passaic, Somerset, Sussex) Timothy S. Allocca David Ayers (Alt.) Scott Barna Barbara Beyer Frank Esposito (Alt.) David Ferraez John M. Kemper David J. Long Renee P. McGuire Engle Oostdyk (Alt.) Judith A. Schumacher-Tilton CENTRAL REGION (Hunterdon, Mercer, Middlesex, Monmouth, Warren) John F. Chuhinko Drew Coleman Breanna N. Datello Lawrence Iannaccone Steven Kalafer (Alt.) Shelly I. LoCascio Paul J. Muller, Jr. (Alt.) James Reydel Anton Semprivivo John C. Smith (Alt.) Jeffrey R. Wall SOUTHERN REGION (Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Ocean, Salem) Ronald E. Baus, Jr. Ben Catanese (Alt.) Robert L. Davis Dennis M. Egan (Alt.) Thomas J. Hessert, Jr. (Alt.) John R. Lilliston James McCormick Joseph H. McErlean Rob Sickel Taylor Weisleder Tina Wright