Dealer Inventory Insurance

NMIADA is working with the Speaker of the House and Senate President Pro Tempore to pass legislation requiring documentation from the seller of a Catalytic Converter in the state of New Mexico.

Catalytic Converter theft is a significant issue facing auto dealers and citizens and NMIADA is working closely with the Legislature to get legislation passed that will make it illegal for junk yards to purchase anonymous catalytic converters. A written paper trail will allow law enforcement to effectively follow sales in the state.

This bill will receive it’s first hearing at the Senate Public Affairs Committee on either Wednesday or Friday this week. We are asking interested dealers to participate in helping to pass this important legislation by:

Lately, I’ve spent a lot of time talking to dealers about inventory. The topics range from ‘There are no cars available’ to ‘There are plenty of cars out there, but the cost is impacting my business plan’ to ‘Insuring my inventory at the same time I satisfy my insurance budget has become nearly impossible’.

The economy changes, business plans change, both vehicles and insurance costs fluctuate with conditions whether it is Cash for Clunkers at the beginning of an economic recession that we faced several years ago or an inability to get microchips from China or gas prices that create more homebodies. I can speak for only one piece of the puzzle: insuring your dealer-owned inventory.