FTC Extends Enforcement Deadline for

Identity Theft Red Flags Rule

At the request of Members of Congress, the Federal Trade Commission is delaying enforcement of the “Red Flags” Rule until June 1, 2010, for financial institutions and creditors subject to enforcement by the FTC.

The Rule was promulgated under the Fair and Accurate Credit Transactions Act, in which Congress directed the Commission and other agencies to develop regulations requiring “creditors” and “financial institutions” to address the risk of identity theft. The resulting Red Flags Rule requires all such entities that have “covered accounts” to develop and implement written identity theft prevention programs to help identify, detect, and respond to patterns, practices, or specific activities – known as “red flags” – that could indicate identity theft.

http://www.ftc.gov/opa/2009/10/redflags.shtm

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Are you complying with the Red Flags Rule?

The Red Flags Rule requires many businesses and organizations to implement a written Identity Theft Prevention Program designed to detect the warning signs – or “red flags” – of identity theft in their day-to-day operations. Are you covered by the Red Flags Rule? Read Fighting Fraud with the Red Flags Rule: A How-To Guide for Business to:

* Find out if the rule applies to your business or organization;
* Get practical tips on spotting the red flags of identity theft, taking steps to prevent the crime, and mitigating the damage it inflicts; and
* Learn how to put in place your written Identity Theft Prevention Program.

http://www.ftc.gov/redflagsrule

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FTC Extends Enforcement Deadline for Identity Theft Red Flags Rule

At the request of Members of Congress, the Federal Trade Commission is delaying enforcement of the “Red Flags” Rule until June 1, 2010, for financial institutions and creditors subject to enforcement by the FTC.

CAR DEALERS WILL HAVE UNTIL JUNE 1, 2010 TO MEET RED FLAG RULES COMPLIANCE

The Rule was promulgated under the Fair and Accurate Credit Transactions Act, in which Congress directed the Commission and other agencies to develop regulations requiring “creditors” and “financial institutions” to address the risk of identity theft. The resulting Red Flags Rule requires all such entities that have “covered accounts” to develop and implement written identity theft prevention programs to help identify, detect, and respond to patterns, practices, or specific activities – known as “red flags” – that could indicate identity theft.

The Commission previously delayed the enforcement of the Rule for entities under its jurisdiction until November 1, 2009. The Commission staff has continued to provide guidance to entities within its jurisdiction, both through materials posted on the dedicated Red Flags Rule Web site (www.ftc.gov/redflagsrule), and in speeches and participation in seminars, conferences and other training events to numerous groups. The Commission also published a compliance guide for business, and created a template that enables low risk entities to create an identity theft program with an easy-to-use online form. FTC staff has published numerous general and industry-specific articles, released a video explaining the Rule, and continues to respond to inquiries from the public. To assist further with compliance, FTC staff has worked with a number of trade associations that have chosen to develop model policies or specialized guidance for their members.

On October 30, 2009, the U.S. District Court for the District of Columbia ruled that the FTC may not apply the Red Flags Rule to attorneys. Today’s announcement that the Commission will delay enforcement of the Rule until June 1, 2010, does not affect the separate timeline of that proceeding and any possible appeals. Nor does it affect other federal agencies’ ongoing enforcement for financial institutions and creditors subject to their oversight.

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CAR DEALER CLASS HOT TOPICS
TriStar Motors LLC + Car Dealer Education + DMV Service Providers
http://www.gotplates.com

We provide the best car dealer education in all of California.
Our in-person classes are offered in 25 cities and we conduct more classes than any other dealer education provider.
At anytime, if you have questions or need help in solving a problem you may visit our car dealer blog:
http://www.autogodfather.com

Charlotte will also respond to questions at 800..901..5950.

During our in-person training session there is always discussion between the dealer pre – licensing applicants and the course instructor.
Many of the dealer pre – licensing applicants have auto industry experience and bring to the discussion a wealth of experience and problem solving ability. This creativity is encouraged and not available in our online pre – licensing tutorial training sessions.

The online pre – licensing tutorial training session allows the student to prepare themselves for the in-person training and bring relevant questions to class. The online pre – licensing tutorial training session along with pre-payment ALSO brings a discount of $ 100.
CA DMV requires a six hour in-person course for pre – licensing.
Private Car Dealer education classes are available and great for 1-on-1 training. To signup for our private car dealer class:
http://www.gotplates.com/signupformnd300.php?type=New%20Dealer%20Licensing%20Class&x_amount=300.00

Car Dealer Education Discussion Points

Remember, character is doing the right thing, when no one is looking.
There are almost 15,000 licensed dealers and over 100,000 licensed salespersons in California. The DMV, CHP and Board of Equalization have less than 800 people monitoring the automotive sales industry.
Happy customers make for good business. If you are diligent in responding to customer complaints, pay your sales tax and registration fees on time and NEVER write a bad check you will sail through this car dealer business.
If you need to file a complaint with the dmv against any dealer:
http://www.dmv.ca.gov/forms/inv/inv172.pdf

If you need to get a dealers attention, file on his bond.
In the acquisition process many dealers have disputes over non-disclosed items. All auctions must be licensed dealers as of Jan. 01, 2001. All vehicles must meet the minimum safety standard ( Division 12 ) or be declared sub-standard in writing.
If you need the assistance of a good dmv attorney visit:
http://www.civilizedlaw.com

Remember, most enforcement action is the result of salesperson error.
In the sales process, the dealer is responsible for all claims made by their sales people. Maintaining strict control of all ROS forms and allowing time for adequate document review prior to each sale is critical.
If you need to train your salespeople, free online training at:
http://www.licensedsalesperson.com

Paying of a finders fee is strictly prohibited.
The only finders fee legally allowed in the auto sales industry is to licensed auto-brokers. Any dealer may become a licensed auto-broker, the first year endorsement cost is $ 50. Any licensed salesperson may collect a broker fee, when added to an existing auto-broker’s license. For more information from the dmv regarding autobrokers:
http://www.dmv.ca.gov/vehindustry/ol/autobrkr_end.htm

Consignments require a retail license with agreement & accounting.
A retail dealer may accept any vehicle on consignment. A wholesale dealer may not accept consignment from a private party. An accounting and payment must be made in all cases within 20 days of the sale date. Dealers may NEVER consign vehicles to each other. For more information from the dmv regarding consignments:
http://www.dmv.ca.gov/pubs/reg_hdbk_pdf/ch20.pdf

Offsite sales are strictly prohibited.
A retail dealer is only allowed to sell as his licensed location. This rule insures the proper distribution of sales taxes collected and that required disclosure has been made to the customer with properly posted signage ( provided for free to each car dealer student ).
If you need retail sales forms we suggest:
http://www.jodyforster.com

Sales licenses must be posted & endorsed by a dealer.
A salesperson may only post his license at one dealership. The DMV must be notified within 10 days of hiring or firing. We suggest the salesperson maintain a color copy while the original is posted at the dealership location. For more dmv licensed salesperson information:
http://www.dmv.ca.gov/vehindustry/ol/ol_handbooks/ol303.pdf

Spanish copy provisions cannot be waived.
The DMV requires a spanish copy of the sales contract, required disclosures and buyers guide for all buyers with Spanish surname. The providing of a translator does not relieve this burden from the dealer. For dmv spanish copy forms:
http://www.jodyforster.com

DMV fees can be estimated for retail customers.
The DMV allows the retail dealer to estimate fees and make refund upon completion of the registration application. The formula for 12 months of registration fees is: ( 2.2% + $ 60.) X .70
The DMV hotline number is 800..777..0133
Dealers are never allowed to charge back fees to a customer. Buyers fees for registration begin of the date of sale only. For dmv registration requirements:
http://www.dmv.ca.gov/pubs/reg_hdbk_pdf/toc.htm

Retail Sales are like a light switch, either ON or OFF.
If the sale is completed, the switch is ON, keep it all. If the sale is not completed, the switch is OFF, and all funds and the trade-in, if any, must be returned. For dmv refund information:
http://www.dmv.ca.gov/pubs/reg_hdbk_pdf/ch24.pdf

Deposits are fully refundable & cannot be waived.
Any deposit taken to hold a vehicle for retail sale and/or accessories is fully refundable if the sale is not completed. Failure to refund a deposit will get immediate attention from the DMV. For dmv deposit information:
http://www.dmv.ca.gov/pubs/vctop/d05/vc11737.htm

The maximum charge for documents is $ 55.
The charge for documents is optional and is NOT a government fee. The fee charged to all customers must be the same across the board. Any discrepancy would cause a refund to overcharged customers by the DMV. The fee must be disclosed and is taxable labor. For more dmv information regarding the dealer document fee:
http://www.dmv.ca.gov/pubs/vctop/d05/vc11713_1.htm

The maximum charge for smog inspection is $ 50.
The charge for smog inspection is optional and is NOT a government fee. The fee charged to all customers must be the same across the board. Any discrepancy would cause a refund to overcharged customers by the DMV. The fee must be disclosed and is taxable labor. A non-taxable fee of $ 8.25 is also allowed for the smog certificate fee. For more dmv information regarding the smog inspection fee:
http://www.dmv.ca.gov/pubs/vctop/d05/vc11713_1.htm

A dealer may charge interest of choice, with no limit.
Vehicle dealers are exempt from the usury restrictions of banks and finance customers, provided they disclose this fact and place themselves as lienholders on title. A dealer may repossess without notice upon default. Vehicle dealers are exempt from the 15 day notice requirement and may repossess at will, following the customary 5 day grace period, granted on every contract. For ca attorney general usury guidelines:
http://ag.ca.gov/consumers/general/usury.php

An open DO bill is a potential deal breaker.
Vehicle dealers using DO bills must provide documentation of completion to seal the deal and make the contract enforceable. An expiration date on the DO bill is useless. For do bills and dealer forms:
http://www.jodyforster.com

The buyers county of residence sets the sales tax rate.
The location of your dealership does not determine the rate of sales tax. Exempt transactions, dealer to dealer, out of state, out of country require exact paperwork to maintain the sales tax exemption. For current board of equalization sales tax rates:
http://www.boe.ca.gov/sutax/pam71.htm

Personal use requires a monthly use tax.
Any use of the dealer plate for personal use is taxable. The purchase price divided by 40 sets the taxable monthly base for dealers. The purchase price divided by 60 sets the taxable monthly base for salespersons renting a dealer vehicle. The taxable monthly base is then multiplied by the sales tax rate at the dealer location to determine the use tax due.Personal use is reported to the Board of Equalization. There is no requirement to report personal use to the DMV. The personal use of the dealer plate is reported on Line 2 of the sales tax report form sent to the Board of Equalization. For use tax rules from the board of equalization:
http://www.boe.ca.gov/pdf/pub110.pdf

Blank DMV registration & ROS forms can be ordered by mail.
The form office at DMV provides dealers with blank forms at no charge. A request on the dealer letterhead to the forms office will provide you all the forms you may need. Dealers may post flashers on sold vehicles. When a dealer posts a temporary operating permit on a vehicle the dealer may post flashers, license plate covers, over the existing plates, with instructions for removal upon the buyer receiving documents and registration stickers from the DMV. For dmv bulk forms ordering information:
http://www.dmv.ca.gov/pubs/brochures/fast_facts/ffdmv1.htm

Unpaid DMV administrative service fees causes loss of license.
When the DMV accesses an ASF upon a dealer, these fees must be paid immediately, even if the ASF is under protest. Failure to pay an ASF will result in bond activation and failure to pay the bond company will result in license termination. For dmv ASF information:
http://www.dmv.ca.gov/pubs/reg_hdbk_pdf/ch19.pdf

A retail dealer may sell to an unlicensed buyer.
The DMV has no requirement for any buyer to be a licensed driver. The RED section of the 553 sales contract requires the buyer to sign as to an understanding of this provision. A finance company may require a drivers license and insurance prior to release of a vehicle to a buyer, but, this is not state law.Every dealer shall obtain photo ID of the buyer.
The retail dealer must offer a cancellation option on all used vehicles offered for sale after july 1, 2006. For more car buyer bill of rights information:
http://www.carbuyerbillofrights.com
http://www.dmv.ca.gov/pubs/brochures/fast_facts/ffvr35.htm

The retail dealer must abide by new federal red flag rules on all vehicle sales where credit is offered or assistance provided. For free red flag rules tutorial training and assistance:
http://www.redflagclass.com
http://www.rexhead.net
For our $ 500. red flag program for licensed dealers:
http://www.gotplates.com/redflagform.php

Every out of state sale can be tax exempt.
Delivery is the condition which determines if taxes must be posted at the time of sale. If the out of state buyer is using a licensed transporter to have the vehicle delivered, the bill of lading exempts the collection of sales tax. If you, your staff or the buyer takes delivery, a notarized statement at delivery to an out of state location allows refund of sales tax posted at sale. For dmv out of state tax exempt regulations:
http://www.dmv.ca.gov/pubs/reg_hdbk_pdf/ch07.pdf

Division 12 is a federal law and cannot be waived at retail.
Division 12 is the minimum safety standard for all motor vehicles sold at retail by licensed dealers. The vehicle must meet these requirements or it cannot be sold. In wholesale transactions, the vehicle may be sold to another dealer with written disclosure. For dmv minimum safety standards:
http://www.dmv.ca.gov/pubs/vctop/d12/vc24007.htm

A voluntary repossession does not require a certificate.
If the customer is willing to sign the title on line 1a and return a vehicle the certificate of repossession is not necessary. A voluntary repossession in this manner is handled as a buyback. For dmv reposession form requirements:
http://www.dmv.ca.gov/forms/reg/reg119.pdf

Dealer smog certificates are good for two years.
When a dealer obtains a smog, required to offer the vehicle for retail sale within California, it has a useful life of two years. A dealer who obtains a vehicle with an unused smog is not required to re-smog the vehicle prior to sale. For dmv dealer smog rules:
http://www.dmv.ca.gov/pubs/reg_hdbk_pdf/ch21.pdf

Division 12 is an implied warranty.
The buyers guide has a provision for ” AS-IS, No Warranty ” The dealer should remember it really means, as-is, no warranty, except Division 12, the minimum safety standard. for the FTC sample federal buyers guide:
http://www.ftc.gov/bcp/edu/pubs/business/autos/bus13.pdf

Dealers may never post a for sale sign on the street.
All vehicles operated on the highway, or parked on the highway must never have a for sale sign posted on them.

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charlotte
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if you have a knack for customer service
consider becoming a licensed autobroker
with the california dmv

our car dealer education class is the first step to
an autobroker endorsement with the california dmv
the broker endorsement on your car dealer license
allows you to collect a fee when you assist a
car buyer with a vehicle purchase
from any licensed dealer ( new or used vehicles )

as a matter of fact, licensed brokers
are the only licensed entity
allowed to make a vehicle delivery
direct to the buyer at their home, workplace or office

The concept behind hiring an auto broker is relatively simple:
you’re not a professional car buyer, so why go up against a professional car seller alone?

With the confusion of financing, fees, add-ons, taxes and the hurried, jargon-filled nature of the dealership, it only makes sense to leave the bargaining to someone who won’t be fazed by the wheeling and dealing.

Fees for these services can start at $200 and can go as high as $1,000 normally, based on the car you’re brokering and whether it is a new or used model. Used cars and rare cars tend to carry a higher fee since it takes more legwork to locate a good deal; although, you’ll likely see an even deeper discount from the buyers best walkin price thanks to regional differences in used car prices.

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california dmv autobroker handbook information

http://www.dmv.ca.gov/pubs/reg_hdbk_pdf/ch18.pdf

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beginning june 1, 2010

every car dealer must have a written red flag rules program

within their dealership with a designated red flag compliance officer

if the dealership does not have the red flag rules program in place

the dealership faces a fine of $ 2500. per car deal after june 1, 2010

the FTC is the new sheriff in town

the FTC are the folks who years ago brought you the buyers guide

( remember, the federal buyers guide is the MANDATORY statement posted in the side window describing warranty / no warranty on every car offered for retail sale in america )

dmv compliance requires the buyers guide and now the red flag rules

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Auto Dealer Fraud FAQ

Q: What is “auto dealer fraud”?

A: “Auto dealer fraud” is a term that describes deceptive and unlawful practices used by automobile dealers, at almost any stage of the vehicle purchase process — from advertising, to negotiation of vehicle pricing and financing terms. Examples of auto dealer fraud include “bait and switch” advertising practices, deceptive inflation of vehicle prices, and failure to disclose information about a vehicle.

Q: How does a “bait and switch” occur?

A: “Bait and switch” sales tactics are a form of false or deceptive advertising, in which a car dealer lures potential buyers to the dealership by advertising one vehicle at a certain price, then tells the customer that the particular vehicle is no longer available before using aggressive tactics to sell a different, more expensive vehicle (or the advertised vehicle at a price higher than the advertised price).

Q: What kinds of things must used car dealers disclose about a used vehicle that is being offered for sale?

A: In most states, car dealers must disclose whether a used vehicle has incurred significant damage in an accident, has been designated “salvaged”, or has been flood-damaged.

Q: What is a mileage “rollback”?

A: A form of auto dealer fraud, a “mileage rollback” or “odometer rollback” occurs when the odometer of a used vehicle (which indicates the total miles the vehicle has been driven) is altered (or “rolled back”) to display a number that is lower than the vehicle’s actual mileage.

Q: How do auto dealer fraud cases differ from Lemon Law cases?

A: Although both involve motor vehicles, auto dealer fraud cases are very different from Lemon Law cases. In auto dealer fraud cases, improper tactics used by a car dealer during the vehicle sale process are the focus, while lemon law cases arise from problems or defects with the vehicle itself.

Q: Should I contact the dealer if I feel that a car salesman committed fraud when I bought a car?

A: You may be required to do so. In many states, you (or your attorney) must contact the auto dealer and give them an opportunity to correct the problem to your satisfaction, before taking any legal action for possible auto dealer fraud. This contact should be in writing, and should clearly illustrate both the problem (i.e. the dealer’s failure to disclose certain financing charges), and what steps you would like the dealer to take to resolve the problem (i.e. a partial refund of the vehicle purchase price).

Q: Can I file a lawsuit for auto dealer fraud?

A: In most cases, yes. If you recently purchased a vehicle and you suspect that the dealer may have committed fraud in the sales process, you may want to speak with an experienced Auto Dealer Fraud Attorney. An Auto Dealer Fraud attorney will evaluate all aspects of your case and explain all options available to you — including filing a lawsuit for your damages — and will work with you to ensure the best possible outcome for your case. Remember that in some states, you are required to contact the dealer and give them an opportunity to correct the problem before you take any legal action.

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good car dealer education helps reduce car dealer license fraud

to file a complaint against a car dealer license holder in california:

http://www.dmv.ca.gov/forms/inv/inv172.htm

to speak with a dmv attorney regarding car dealer license fraud:

www.civilizedlaw.com

to check the current license status of any california dealer:

https://mv.dmv.ca.gov/olinq2/welcome.do

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