Illegal Transactions

If you ever purchase a vehicle with from a person that possesses a blank title, you are part of an illegal transaction. If you ever lie to customer in order to sell a vehicle, you are part of an illegal transaction. If you ever ask someone to leave a title blank during a vehicle buy, you are part of an illegal transaction.

Illegal transactions vary from state to state. One state may allow a certain type of transaction while another state strictly forbids the identical transaction. For example, many states allow dealers to charge a document preparation fee to file paperwork, yet some states will actually revoke your dealer license permanently if you charge these fees.

I cannot stress the importance of staying in constant contact with your state dealer license bureau. Never wing it. If you are not quite sure if a transaction is legal, call your state dealer license bureau. If you are not sure how to correctly complete a document, call your state dealer license bureau. If you are not sure how to record a sale, call your state dealer license bureau.

Many dealers have had their dealer license suspended or permanently revoked when they were involved in a transaction they had no idea was illegal. States have zero tolerance for any dealer that does not follow state regulations to a tee. Remember, if you are not sure about any transaction, call your state dealer license bureau. They are your friend, they want you to be successful, and they are there for your support.

Always stay far away from any illegal transaction.

 

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