SACRAMENTO – The Retail Sale of a Vehicle to the Public has become a complicated compliance puzzle for California Car Dealers. We have assembled the following Compliance Checklist to assist dealers & salespersons to get it right every time.
When preparing a car for sale, prior to offering the vehicle for sale to the public make sure you have the following documents completed & ready for presentation to the buyer:
Federal Buyers Guide
NMVTIS Vehicle History Report
Division 12 Safety Inspection by a Licensed Mechanic
Smog Inspection & Certificate less than Two ( 2 ) Years Old
Safety Recall Disclosure
Prop 65 Sticker & Disclosure
Song Beverly As – Is Sticker & Disclosure
Prior Vehicle History Disclosure
When showing the vehicle to a potential customer make sure you collect a current drivers license & insurance card and prepare a letter of permission for the test drive. This small step places the buyers insurance in primary position in the event of an insurance claim.
When the potential customer shows interest in the vehicle and you are going to complete the sale make sure you prepare and present the following additional documents.
Authorization to Run Credit
Contract Cancellation Option
Pre-Contract Disclosure
Spanish Copy Offer
Translation Document Offer
Conditional Sales Contract
Reg262 Bill of Sale with Power of Attorney
Electronically Generated Report of Sale
Temporary Plates Front & Rear of Vehicle
Original Title with Wet Signature Odometer Statement
Lienholder Demand Letter
Sales Tax Rate Verification
Remember the following limits on fees:
Contract Option & Restocking is price based.
Fee totals vary from 175. to 500. Max.
Document Preparation Fees Max of $ 70. + tax
( if BPA may increase to Max of $ 85. + tax )
Smog Inspection Fee Max of $ 50. + tax
Smog Certificate Fee Max of $ 8.25
Transfer Fee $ 15.
License Plate Fee $ 22.
Estimated Registration Fee requires a refund if overcollected.
Electronic Processing ( BPA Only ) up to $ 30.
Delivery Fees are only allowed after the sale.
Used Vehicle Dealer Preparation Fees are prohibited.
Bank Origination Fees are prohibited.
#realcardealerschool
800-901-5950
Email us at admin@gotplates.com
if you wish a free copy of the TriStar Motors
Contract Preparation Spreadsheet
