You are preparing to buy a dealership and the manufacturer asks you to sign a Dealer Sales and Service Agreement with a provision stating that the manufacturer’s sales performance standards are reasonable. If you don’t sign the document as it, the OE implies, you won’t get to buy the dealership. Should you sign? No, says Erin Tenner. Manufactures have taken to inserting these types of clauses into the Sales and Service Agreement. Know your rights before you sign, she advises. Find out more in her column this week.
Dealers are generally major charitable givers, both in their community and to national causes they support. But when succession occurs, what if the next generation has different causes they want to support, or different priorities? Charting a philanthropic roadmap and having an honest and in-depth discussion about charitable giving with your successors not only helps continue the dealership’s legacy, it can also help you maximize the tax benefit of that giving, says Joan Kaye of Key Private Bank in this week’s issue.