we make it simple for you to get licensed
 

buying for a fleet ???…..get licensed

May 19, 2012

If you are a multiple car business like a:
car rental service
delivery service
large contractor
fleet service
etc…

You can obtain auction access and avoid the dealer markup by obtaining your dealer license.

If you are buying more than three vehicles a year you may find it to be a very good move to get your dealer license and benefit from lower car prices,
better cars to choose from and ease of transactions.
And becoming a dealer also allows you better resale prices at disposal
So why not, – buy at wholesale – sell at retail – and use the vehicles in you own business.
We are your first step in obtaining your dealer license.
We will teach you the ins and outs of becoming a dealer and provide you with the certificate you need to present to the CA DMV.
Contact us today at: 1.800.901.5950 or admin@gotplates.com

Posted, by in CAR DEALER LICENSE BUILDER, DMV CAR DEALER SERVICES, DMV FLEET BUYER, WHOLESALE DEALER LICENSE Tags: , , , , , ,

red flag rules at a glance

May 18, 2012

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Red Flags Rule

From Wikipedia, the free encyclopedia
Not to be confused with Red Flag Act
 This article uses first-person (“I”; “we”) or second-person (“you”) inappropriately. Please rewrite it to use a more formal, encyclopedic tone. (September 2011)

The Red Flags Rule was created by the Federal Trade Commission (FTC), along with other government agencies such as the National Credit Union Administration (NCUA), to help preventidentity theft. The rule was passed in January 2008, and was to be in place by November 1, 2008. But due to push-backs by opposition, the FTC has delayed enforcement (five times); the current deadline is December 31, 2010.[1][dated info]

Contents

[hide]

How the Red Flags Rule was Created

The Red Flags Rule was based on section 114 and 315 of the Fair and Accurate Credit Transactions Act of 2003.[2] FACTA was put in place to help Identity Theft Prevention and Credit History Restoration, Improvements in Use of and Consumer Access to Credit Information, Enhancing the Accuracy of Consumer Report Information, Limiting the Use and Sharing of Medical Information in the Financial System, Financial Literacy and Education Improvement, Protecting Employee Misconduct Investigations, and Relation to State Laws.[3]

Who This Rule Applies To

There are two different groups that this rule applies to: Financial Institutions and Creditors.[4] Financial institution is defined as a state or national bank, a state or federal savings and loan association, a mutual savings bank, a state or federal credit union, or any other entity that holds a “transaction account” belonging to a consumer.[5] FACTA’s definition of “creditor” applies to any entity that regularly extends or renews credit – or arranges for others to do so – and includes all entities that regularly permit deferred payments for goods or services [6]

Just because you don’t think you are a creditor, does not mean that the rule doesn’t apply. For example, law firms and accounting firms that receive payment after a service is completed are considered creditors. Another example is if you are a utility company. You provide the utilities and receive payment for your services rendered at the end of the month, rendering you a creditor.

There are many different companies that this rule applies to: this list includes, but is not limited to finance companies, automobile dealers, mortgage brokers, utility companies, telecommunications companies, medical practices, hospitals, and law firms; or any other company that performs a service, then receives payment once the work is complete.

What the Red Flags Rule States

The Red Flags Rule sets out how certain businesses and organizations must develop, implement, and administer their Identity Theft Prevention Programs. Your Program must include four basic elements, which together create a framework to address the threat of identity theft.[7][8]

The four basic elements to the program are:

1) Identify Relevant Red Flags

  • Identify the red flags of identity theft you’re likely to come across in your business

2) Detect Red Flags

  • Set up procedures to detect those red flags in your day-to-day operations

3) Prevent and Mitigate Identity Theft

  • If you spot the red flags you’ve identified, respond appropriately to prevent and mitigate the harm done

4) Update your Program

  • The risks of identity theft can change rapidly, so it’s important to keep your Program current and educate your staff

The Red Flags Rules provide all financial institutions and creditors the opportunity to design and implement a program that is appropriate to their size and complexity, as well as the nature of their operations.[5]

The red flags fall into five categories:

  • alerts, notifications, or warnings from a consumer reporting agency[5]
  • suspicious documents[5]
  • suspicious kk identifying information, such as a suspicious address[5]
  • unusual use of – or suspicious activity relating to – a covered account[5]
  • notices from customers, victims of identity theft, law enforcement authorities, or other businesses about possible identity theft in connection with covered accounts[5]

Ways that a business can comply

The FTC has a created a template for your business that can be populated to meet your companies needs. The template can be found on the FTC website. This template however is for small, very low risk businesses. There are also a number of other companies that will create a Program for your business to follow for a fee.

The Red Flag Rule as a cause of Identity Theft

As the Red Flag rule widely defines creditors, many businesses (such as utilities)[9] }are not required to collect personal information (such as SSN and Driver’s License Numbers) that they do not need and have no use for. This policy is precisely contrary to the FTC’s advice to consumers that they should disclose their social security number to others only when absolutely necessary.[10] This aspect of the Red Flag rule has the unintended consequences of increasing the number of business that hold consumers’ Social Security numbers thereby putting consumers at greater risk for identity theft through data theft.

References

  1. ^http://ftc.gov/opa/2010/05/redflags.shtm
  2. ^http://ftc.gov/opa/2007/10/redflag.shtm
  3. ^FAIR AND ACCURATE CREDIT TRANSACTIONS ACT OF 2003, Public, Law 108-159, 108th Congress, retrieved 2009-02-02
  4. ^http://www.ftc.gov/opa/2008/07/redflagsfyi.shtm
  5. ^ abcdefghttp://www.ftc.gov/bcp/edu/pubs/business/alerts/alt050.shtm
  6. ^http://www.ftc.gov/opa/2009/04/redflagsrule.shtm
  7. ^http://www.ftc.gov/bcp/edu/pubs/business/idtheft/bus23.pdf
  8. ^ “Identity theft” means a fraud committed or attempted using the identifying information of another person without authority. See 16 C.F.R. § 603.2(a). “Identifying information” means “any name or number that may be used, alone or in conjunction with any other information, to identify a specific person, including any – (1) Name, Social Security number, date of birth, official State or government issued driver’s license or identification number, alien registration number, government passport number, employer or taxpayer identification number; (2) Unique biometric data, such as fingerprint, voice print, retina or iris image, or other unique physical representation; (3) Unique electronic identification number, address, or routing code; or (4) Telecommunication identifying information or access device (as defined in 18 U.S.C. 1029(e)).” See 16 C.F.R. § 603.2(b).
  9. ^“Start or Install Service”.
  10. ^ ftc.gov. “Deter Minimize Your Risk”.

800-901-5950

Red Flag Rules Program


Posted, by in CAR DEALER EXTENDED WARRANTY PROGRAM, CAR DEALER GAP COVERAGE, CAR DEALER LICENSE BOND, CAR DEALER LICENSE INSURANCE, DMV RED FLAG RULES, RESEARCH VEHICLE HISTORY, SPANISH COPY FORMS, WHOLESALE CAR DEALER LICENSE Tags: , , , , , , ,

thank you test drive from gotplates.com

May 15, 2012

PULL OUT A CARFAX & RUN THE VIN

VinAudit.com makes it easy:

Instant NMVTIS Vehicle History Reports
Get full, online NMVTIS vehicle reports you can save, email, or print.
24/7 Online Access
Access instant reports through our web, desktop, and mobile interfaces.
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We guarantee the lowest prices for access to NMVTIS data.

TAKE A TEST DRIVE NOW

800-901-5950

Your CA Dealer Affiliate Link:

http://www.vinaudit.com/gotplates
– prefills “gotplates” promo code
– dealers who use it get 5 free reports initially

 


Posted, by in car dealer school, DMV VEHICLE HISTORY REPORTS, RESEARCH VEHICLE HISTORY Tags: , , ,

car dealer financing lingo

May 15, 2012

http://www.autofinancing101.org/resources/glossary.cfm

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Glossary of Definitions

Amount Financed
The dollar amount of the credit that is provided to the buyer.

Agreed-Upon Selling Price
The dollar amount the buyer agrees to pay the dealer for the vehicle.

Amount Financed
The dollar amount of the credit that is provided to the buyer.

Annual Percentage Rate (APR)
The cost of credit for one year expressed as a percentage.

Assignee
The bank, finance company, credit union, or other financial institution that purchases the finance contract from a dealer.

Bank or Credit Union Financing
(also Off-Site Financing)
The financing a buyer gets from his or her bank, credit union, or other financial institution to pay for a new or used auto.

Budget
A tool commonly used to measure expenses against income, to help people prioritize their spending and manage their money.

Buy Rate
The wholesale rate offered to a dealership at which the “assignee” (finance company, bank or credit union) will purchase the contract.

Co-Buyer
An individual who assumes equal responsibility for the contract. The account history will be reflected on the co-buyer’s credit history as well as the buyer’s. For this reason, consumers should exercise caution if asked to be a co-buyer for someone else. Since some co- buyers are eventually asked to repay the obligation, individuals need to be sure that they can afford to do so before agreeing to be a co-buyer.

Collateral
An asset pledged to the creditor until the financing is paid off. For example: If you own your home, it may be used as collateral to secure automobile financing.

Credit Application
The information that a buyer submits when applying for credit. It typically requires such items as name, Social Security number, date of birth, current and previous addresses and length of stay, current and previous employers and length of employment, occupation, sources of income, total gross monthly income, and financial information on existing credit accounts. This can be done in person, over the phone, or electronically via the Internet.

Credit Insurance
There are two common types of credit insurance. Credit life insurance is optional insurance that pays the scheduled unpaid balance if the buyer dies. Credit disability insurance (sometimes called credit accident and health insurance) is optional insurance that pays the scheduled monthly payments if the buyer becomes disabled. As with most contract terms, the cost of optional credit insurance must be disclosed in writing, and if the buyer wants it, the buyer must agree to it and sign for it.

Credit Report
A report containing information about the buyer’s current and past credit obligations, payment record, and data from public records (e.g., a bankruptcy filing obtained from court documents). For each account, the credit report shows the applicant’s account number, type and terms of the account, credit limit, most recent balance, and most recent payment. The comments section describes the current status of the applicant’s account, including the creditor’s summary of past-due information and any legal steps that may have been taken to collect.

Credit Reporting Agency
A firm that collects, sorts, maintains, and sells information about an individual’s credit history.

Credit Score
A numerical score that reflects the credit risk you present based on information contained in your credit file. The better your history of credit, the higher your score.

Creditor
A person or organization that regularly extends credit, subject to a finance charge.

Creditworthiness
The ability of a consumer to satisfy a credit obligation.

Dealer Financing
(also On-Site Financing)
Financing that a consumer obtains from the dealership rather than directly from a bank, credit union, or other financial institution to buy a new or used auto. The consumer enters into a contract with the dealership agreeing to pay the amount financed, at an agreed-upon finance rate, over a specified period of time.

Dealer Finance Income
A portion of the finance charge that is paid to or retained by the dealer as compensation for the dealer’s participation in providing financing to the buyer.

Delinquent Accounts
Credit accounts that are past due. They usually are classified as 30, 60, 90 and 120 days past due.

Depreciation
The amount by which a vehicle is expected to decrease in value over a specific period of time.

Down Payment
An amount paid at time of purchase that reduces the amount financed. This includes any combination of cash, trade-in value of a previously-owned vehicle, rebates, and other non-cash credits.

Extended Service Contract
Optional protection on specified mechanical and electrical components of the vehicle. It is available for purchase to extend and/or supplement the warranty coverage provided when purchasing or leasing a new, or in some cases, a used vehicle.

Finance Charge
The dollar amount that the credit will cost the buyer.

Fixed Rate Financing
An annual percentage rate that remains the same over the life of the finance contract.

Guaranteed Auto Protection (GAP)
Optional protection that pays the difference between the amount the buyer owes on the auto and the amount the buyer receives from his insurance company if the auto is stolen or destroyed before the buyer has satisfied the credit obligation. In some cases, the buyer may be responsible for the insurance deductible.

Installment Sale
A contract with a dealership to buy a vehicle by paying the amount financed, plus an agreed upon finance charge, over a certain period of time in installments, which are typically monthly payments.

Length of Contract
The total number of months the borrower has to pay his or her credit obligation.

Lien
A legal claim on ownership of the vehicle stemming from a debt. If the buyer does not make the payments, the lienholder can repossess and sell the vehicle as full or partial payment of the debt.

Off-Site Financing
(also Bank or Credit Union Financing) The financing a buyer gets a from his or her bank, credit union or other financial institution to pay for a new or used auto.

On-Site Financing
(also Dealer Financing)
Financing that a consumer obtains from the dealership rather than directly from a bank, credit union, or other financial institution to buy a new or used auto The consumer enters into a contract with the dealership agreeing to pay the amount financed, at an agreed-upon finance rate, over a specified period of time.

Repossession
In the event that a credit obligation is not satisfied, the legal right a creditor has to take the asset pledged as collateral (typically the automobile) and sell it to pay off the credit obligation. Depending on state laws, this process is typically subject to rights to redeem (pay off the entire balance and get your vehicle back) or reinstate (pay any delinquent payments and get your vehicle back to start the contract again).

Secured Credit
Financing for which some form of acceptable collateral, such as a house or automobile, has been pledged.

Trade-in Allowance: The amount the dealer agrees to pay for a trade-in vehicle, which consumers often apply towards the purchase of a new vehicle.

Unsecured Credit
Credit for which no collateral has been pledged.

Variable Rate Financing 
With a variable financing rate, the annual percentage range may change over the life of the contract.


Posted, by in $ 1M TRAINING GUARANTEE, CAR DEALER LICENSE BUILDER, VEHICLE REGISTRATION TIPS Tags: , , , , , ,

5 helpful tips for getting your DMV wholesale car dealer license

May 13, 2012
  1. Sign up for our 6 hour Car Dealer Pre-Licensing Class. Follow the steps that you are taught, and then get approved by the California DMV as a wholesale dealer.
  2. Utilize the Web. Did you know that most wholesale dealers search the internet prior to purchasing a vehicle? A good wholesaler will recognize a low priced car at auction buy it and resell it a week later at the same auction.
  3. Keep in mind that delivery of the vehicle to the buyer must occur at the sellers licensed location. Some wholesalers will buy seasoned stock ( vehicles which are front line ready on a retailers lot but approaching 60 days in inventory ) and swap them out for vehicles freshly obtained. This allows the used car sales manager to restart the clock on that seasoned stock. These deals are often done book for book, the wholesaler ends up with added value. In a front line ready car the wholesaler can sell to another dealer, but it will often take a series of these book for book trades before you can actually see profits. Many small used car lots do not have the time to go to auction. A good wholesaler can stock these smaller lots and make a small profit on each car.
  4. Don’t ever consign a vehicle to another dealer. The wholesale license is a good starting place for the beginner; lesser bond, easier zoning and access to the market. Dealer plates and insurance are included in the wholesale package but as a wholesaler one can only buy and sell within the industry. That means as a wholesaler you can sell only to other dealers, there is no buying off the street. If and when a wholesaler has a vehicle to sell to the public he/she may draft that sale through a licensed retailer, this is call this a drafted sale.
  5. Remember the drafted sale creates liability for the retailer. Typical draft fee is $ 500. We advise the following: no loss selling ( wholesaler must sell higher than acquisition cost ), smog safety and verification provided by wholesaler, wholesaler as contact person on the buyers guide, statement from wholesaler assuming all liability if customer is not happy. Then the retailer collects and pays all taxes and fees, and sends the documents to DMV for processing.

Tips

  • Wholesale Dealers cannot sell to the Public (only to other Car Dealers).
  • Wholesale Car Dealers have a lower bond requirement and spend less on insurance.
  • When selling to the public you must use a Drafted Sale.
  • Wholesale dealers provide a much needed asset to the retail car market. Wholesalers provide cars to retail dealers and often facilitate trades among dealers. A good car buyer will make a little on each car (perhaps $ 300), but can only sell up to 24 cars in one year.

Related wikiHows

Sources and Citations


Posted, by in CAR DEALER LICENSE BUILDER, DMV CAR DEALER NEWS, ezdealerbond.com, WHOLESALE DEALER LICENSE Tags: , , , , , , ,

car buyers can run dmv approved vehicle reports for $ 10.

May 12, 2012

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YES

July 1 all car dealers must make a vehicle history available

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YES

All vehicles with history must have a red sticker posted on the car

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YES

GotPlates.com is the only provider of Red Stickers for

VERIFIED CLEAN TITLE cars

+++++

YES

Any car buyer can run a DMV Approved Vehicle History Report for $ 10.


Posted, by in CAR BUYER VEHICLE HISTORY REPORTS, car dealer school, CARFAX ALTERNATIVE, DMV CARFAX ALTERNATIVE, DMV VEHICLE HISTORY REPORTS, NMVTIS VERIFIED CLEAN TITLE Tags: , , , , ,

dealer jump car dealer website offer ( code: gotplates )

May 12, 2012
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Code: gotplates
+++
1-888-675-7477
Damien or Sam
++++++++++++++++++++

Posted, by in ADESA AUCTION APPLICATION, CAR DEALER LICENSE BOND, CAR DEALER LICENSE INSURANCE, car dealer school, MANHEIM AUCTION APPLICATION, WHOLESALE CAR DEALER LICENSE Tags: , , , , ,

got jody forster…..the forms lady ???

May 11, 2012

+++

 

2-Part Buyers Guides

(100 per pack)

$21.99

All auto dealers throughout the United States are required to display this two page (one page duplicated) form in the side window of every used vehicle offered for sale. The Federal Trade Commission oversees this regulation to disclose whether or not a dealer is offering any kind of warranty. The form must be prominently displayed on a vehicle’s window while the vehicle sits in the dealer’s inventory. The form may be removed from a window for a “test drive”, but must be returned to the window immediately upon return from the test drive if a sale is not consumated. If the vehicle is sold, the form is signed and part of the paperwork processed at delivery of the vehicle. The one and only purpose of this form is to disclose what warranties, if any, are included with the purchase if this vehicle. A “used vehicle” is defined by the Federal Trade Commission as any vehicle previously registered, and any vehicle previously used. This includes new vehicle rollbacks as well as unlicensed demonstrators (demos). There is an exemption for vehicles weighing in excess of 6,000 lbs. unladen weight, which means motorhomes and heavier duty trucks are exempt from the “Buyers Guide” regulations. Required by law for consumer protection on used vehicles, this form meets federal regulations. Pressure sensitive tape at the top and bottom holds this 2-part carbonless, 8 1/2″ wide x 11″ tall form to the window. Available in two styles: “As-Is” or “Implied Warranty”. Note, some states prohibit “As-Is” sales. Sold in packs of 100. Quantity Discount Prices available on quantities of 5 and 10 or more packs.
  • Model: JF 327

 

CAR DEALER STARTER FORMS KIT

 


Posted, by in ADESA AUCTION APPLICATION, car dealer school, MANHEIM AUCTION APPLICATION, WHOLESALE CAR DEALER LICENSE Tags: , , , , , , ,

car dealer deal jackets from jody the forms lady keep the DMV happy

May 11, 2012

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File Folder Deal Jacket Envelopes

(pack of 100)

$29.99

Use these handy heavy duty manila stock 9″ x 12″ Deal Jackets complete with black preprinted stock, flooring, asccessories, customer sale, and trade information. All of your vehicle’s important papers will be kept together for each vehicle handled by the delership. Protect your vehicle’s records from becoming lost, torn or wrinkled. Sold in packages of 100. Try our Number 1 selling product today!! Call us to print your very own Custom design @ (949) 837 – 4088.
  • Model: JF-101

CAR DEALER FORMS STARTER KIT

 


Posted, by in CAR DEALER LICENSE BUILDER, FORMS LADY CAR DEALER SUPPLIES, RESEARCH VEHICLE HISTORY, WHOLESALE DEALER LICENSE Tags: , , ,

got spanish cash contract forms ???

May 11, 2012

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“AS IS”

Cash Contract

Simple – SPANISH

$49.99

California Civil Code Section 2981 mandates that sales contracts be completed when a motor vehilce is sold from a licensed entitiy (dealership). All contracts need to be in writing and must be contained on a single document. The contract is designed to protect both the consumer and the dealer by clearly stating the terms of the sale. The contract must include a proper description of the vehicle, the total cost and terms of the sale, as well as the prescribed disclosures required by statue. All contracts must be completed and signed by both parties (buyer and seller). Be sure to provide a clear copy of the contract to the consmer. This form is in complete compliance with disclosures, and is to be used for Cash in house deals when no financing is applicable. 14 3/4″ x 8 1/2″ – 2-part – 100 /pkg . Printed in Spanish.
  • Model: JF730SP

EZ Dealer Bond Quote

Car Dealer Forms Starter Kit

Used Car Dealer Insurance


Posted, by in $ 1M TRAINING GUARANTEE, ADESA AUCTION APPLICATION, car dealer school, DMV CERTIFIED CAR DEALER EDUCATION, MANHEIM AUCTION APPLICATION, SPANISH COPY FORMS, WHOLESALE CAR DEALER LICENSE Tags: , , , , , , ,

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