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WHEN YOU ENTER THE CODE
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ONCE ACTIVATED
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A Car Dealer Website
Will help you sell more cars!

To remain competitive in the used car marketplace you need to have an online presence. We make it easy to do so. Get a dealer website, put your cars online, spread the word about who you are and what you sell.

DEALER WEBSITE DESIGN AND CUSTOMIZATION
Our out of the box dealer website solution requires absolutely no work on your part and appropriate customizations are handled by our staff. For dealers that want to dig a little deeper and get more involved, your dealer site is customizable by you with just a few clicks. The site style, the content, the header design, the cars that rotate and appear in the header, the background colors, the keywords, the page descriptions, the page titles, the search engine optimization – it’s all in your hands if you want to take the reins. If not, it’s taken care of for you by our staff.

ADDING INVENTORY
You can load your inventory into Dealer Jump by deocding each VIN and clicking 1 button to add up to 100 pictures from your computer. Before you know it you’ll start gaining visibility online, generating more traffic, talking to more leads, and selling more cars!

It’s no surprise that auto dealers with a dealer website sell more vehicles than their competition without one. As a dealer you need to promote your business by displaying your vehicle inventory online. You’ll reach people you never knew were your customers and you’ll gain business credibility. We’ll provide you with a cutting edge design for your dealership that encourages customer interaction.

Summary of our dealer website offering:
  • Clean, easy navigation so users can browse your inventory and find the car they’re looking for
  • Phone number present on every page so site visitors can call you easily
  • A contact form on each vehicle page so site visitors can write to you with inquiries because not every person wants to pick up the phone. Sometimes it’s easier to just type a simple question and click SEND.
  • Clear display of the vehicles in your inventory with pictures and other pertinent details.
  • A location map so site visitors can figure out how to get to your lot and visit you in-person if they like what they see online
  • Search engine optimized pages that get indexed and organically placed in the search results of the majr search engines
  • Load dozens of pictures from your camera or computer (max 100) for each vehicle with 1 click
  • Decode the VIN of your vehicles and load them on your website in seconds.
  • Be up and running, live and online within a couple days.
  • We buy your domain name and provide the hosting
  • We provide you with a real email address that ends in your domain so you can look more credible and professional. Instead of a yahoo, gmail, hotmail, live, msn or other free email account, you can gain credibility with an e-mail address that is a part of your web domain (i.e. sales@americasbestusedcars.com)

Every dealer has a competitive advantage and a reason or two why the consumer should spend money in their dealership and not the other dealers down the block, but remember that no matter how many reasons you give your customer to buy a car from you, consumers have choices. There is great value in a customer having a good experience with you both online and in-person. So get started with a website for your auto dealership and get yourself out there. Make in impact. Showcase your inventory. Get more leads and sell more cars.

The sites we design for dealers are to-the-point and get the job done. Dealers all over the United States are enjoying using our dealer websites. Each site is designed to engage your customer and to convert them from just a website visitor into a web lead. You’ll have site visitors writing to you and calling you

Get a dealer website and sell cars online

To get started with a new dealer website for your business, click here >>

pricing label now mandatory for all car dealers

 

AB 1534 (Wieckowski)
Vehicles: dealers: used vehicle sales: labeling requirements.

Existing law regulates the accuracy of information provided to consumers during vehicle sales, including the information contained in advertising, brochures, and manuals, as specified.

Existing law also requires manufacturers, as specified, to disclose certain information regarding a vehicles engine, as specified, by affixing a label on the vehicle. A violation of these provisions is an infraction.

This bill requires a licensed dealer, as defined, to affix to and to prominently and conspicuously display a label on any used vehicle offered for retail sale that states the reasonable market value of the vehicle.

The bill requires the label to contain specified information used to determine the vehicles reasonable market value and the date the value was determined.

The bill requires a licensed dealer to provide to a prospective buyer of the used vehicle a copy of any information obtained from a nationally recognized pricing guide that the licensed dealer used to determine the reasonable market value of the vehicle.

The bill requires the label to meet all the following conditions:

 

a)   Be in writing with a heading that reads “REASONABLE

MARKET VALUE OF THIS VEHICLE” in at least 16-point bold

type and text in at least 12-point type.

 

b)   Be located adjacent to the window sticker identifying

the equipment provided with the vehicle, or if none,

located prominently and conspicuously on the vehicle.

 

c)   Contain the information used to determine the reasonable

market value, including, but not limited to, use of a

nationally recognized pricing guide for used vehicles, and

the date the reasonable market value was determined.

 

d)   Indicate that the reasonable market value is being

provided only for comparison shopping and is not the retail

sale price or the advertised price of the vehicle.

 

The bill defines “nationally recognized pricing guide” as including,

but not limited to, the Kelley Blue Book, Edmunds, the Black

Book, or the National Automobile Dealers’ Association (NADA)

Guide.

 

 

 

we make it simple for you
car dealer education
800-901-5950
http://gotplates.com

 

red flag rules at a glance

+++

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

FTC tips for a red flag rules program if you offer credit

+++

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. By identifying red flags in advance, businesses will be better equipped to spot suspicious patterns that may arise — and take steps to prevent a red flag from escalating into a costly episode of identity theft.

Resources on this site can help business people educate their staff and colleagues about complying with the Red Flags Rule.

What Compliance Looks Like

Your Identity Theft Prevention Program is a “playbook” that must include reasonable policies and procedures for detecting, preventing, and mitigating identity theft. Your Program should enable your organization to:

  1. identify relevant patterns, practices, and specific forms of activity — the “red flags” — that signal possible identity theft;
  2. incorporate business practices to detect red flags;
  3. detail your appropriate response to any red flags you detect to prevent and mitigate identity theft; and
  4. be updated periodically to reflect changes in risks from identity theft.

The Red Flags Rule also includes guidelines to help financial institutions and creditors develop and implement a Program, including a supplement that offers examples of red flags.

The FTC and the federal financial agencies have issued Frequently Asked Questions and answers to help businesses comply with the Rule.

Who Must Comply with the Red Flags Rule?

The Rule requires “financial institutions” and “creditors” that hold consumer accounts designed to permit multiple payments or transactions — or any other account for which there is a reasonably foreseeable risk of identity theft — to develop and implement an Identity Theft Prevention Program for new and existing accounts. The definition of “financial institution” includes:

  • all banks, savings associations, and credit unions, regardless of whether they hold a transaction account belonging to a consumer; and
  • anyone else who directly or indirectly holds a transaction account belonging to a consumer.

A change in the law on December 18, 2010 amended the the definition of “creditor,” and limits the circumstances under which creditors are covered. The new law covers creditors who regularly, and in the ordinary course of business, meet one of three general criteria. They must:

  • obtain or use consumer reports in connection with a credit transaction;
  • furnish information to consumer reporting agencies in connection with a credit transaction; or
  • advance funds to — or on behalf of — someone, except for funds for expenses incidental to a service provided by the creditor to that person.

Bookmark this site and check it often for revisions that reflect changes in the law.

 


 

 

Related Topics

Protecting Personal Information: A Guide for Business

Are you taking steps to protect personal information? Safeguarding sensitive data in your files and on your computers is just plain good business. After all, if that information falls into the wrong hands, it can lead to fraud or identity theft.

Avoid ID Theft: Deter, Detect, Defend

A one-stop national resource to learn about the crime of identity theft. It provides detailed information to help you deter, detect, and defend against identity theft.

OnGuard Online

Provides practical tips from the federal government and the technology industry to help computer users be on guard against Internet fraud, secure their computers, and protect their personal information.

Privacy Initiatives

Educates consumers and businesses about the importance of personal information privacy, including the security of personal information.

#realcardealerschool licensed salesperson training online

car dealer compliance tips from the #realcardealerschool

we recently met with larry, executive director of IADAC

and we discussed the need for enhanced car dealer education

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we offer specific tips for continued compliance

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car dealer insurance agent convicted of fraud

Former agent who pocketed insurance premiums pleads guilty to fraud

News: 2014 Press Release

For Release: October 7, 2014
Media Calls Only: 916-492-3566
Former agent who pocketed insurance premiums pleads guilty to fraud

WALNUT CREEK, Calif. – Thomas Henry Morris, 72, pleaded guilty to one felony count of insurance fraud after he collected premiums and failed to pay over $133,000 in premiums to an insurer. Morris was sentenced to three years felony probation and 40 hours of community service. As part of his plea agreement, Morris paid $133,000 in restitution and will pay an additional $10,000 to the insurance company involved.

“This sentencing is a victory for consumers and insurers,” said Commissioner Dave Jones. “It was because of the combined efforts of the Department of Insurance and the Contra Costa County District Attorney that we were able to bring an end to the scheming and thieving of this individual and find justice for the aggrieved insurance company.”

Morris, who owns Morris & Associates Insurance Services Inc., carried out his scheme with a producer license that expired in 1994. He exposed auto dealerships to hundreds of thousands of dollars in potential liability by selling surety bonds, collecting the premium and pocketing the funds that belonged to the insurer.

The investigation began in September 2013 and revealed Morris was directly involved in conducting unlicensed insurance transactions. The criminal complaint was issued June 24, 2014 and Morris surrendered to the court the following day.

###
The California Department of Insurance, established in 1868, is the largest consumer protection agency in California, regulating the $123 billion insurance marketplace. In 2013 the California Department of Insurance received more than 170,000 calls from consumers and helped recover over $63 million in claims and premiums. Please visit the Department of Insurance web site at www.insurance.ca.gov. Non-media inquiries should be directed to the Consumer Hotline at 800.927.HELP or 213.897.8921. Telecommunications Devices for the Deaf (TDD), please dial 800.482.4833.

what will i find in a nmvtis vehicle history report ???

What’s inside the vehicle history report?
The vehicle history report compiles all available records related to your VIN into a single report. It includes:

  • Detailed vehicle specifications
  • Current and history title records
  • Reported odometer readings & issues
  • Checks across 60+ potential title brands
  • The date and entity for title brands present
  • Records of total-loss reported by insurance companies
  • Records of salvage reported by junk and salvage yards
  • The contact information associated junk, salvage, and insurance entities

Where does the data come from?

The vehicle history data is supplied by the National Motor Vehicle Title Information System (NMVTIS). States, insurance carriers, and salvage yards are required by federal law to report data to NMVTIS. According to NMVTIS, their data providers include over 9000 insurance carriers, auto recyclers, junk yards and salvage yards and their database includes over 40 million salvage or total loss records.
How do I get a report for my vehicle?

You can begin by running an instant lookup on your Vehicle Identification Number.

where can i find a dmv car dealer attorney ???

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Some car dealer attorneys defend the dealer

Some car dealer attorneys defend the buyer

Selecting a good attorney is important

redstar

 

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Car Dealer Attorneys for sellers

Stephanie Francone

License

Status

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Don Nauman

License

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Car Dealer Attorneys for the buyer

Hovanes Margarian

License

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Louis Liberty

License

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thx

Charlotte

gotplates.com

800-901-5950

car dealers…..if you offer any type of credit you must be red flag certified

car dealers offering credit of any form are required to be red flag compliant as of jan 2011

dmv inspectors are now checking for car dealers offering credit to be red flag compliant

here are the new red flag rule guidelines from the FTC:

Revised red flag rules for july 2013

our red flag compliance program cost is $ 500.

Click here to sign up now

car dealer nurse

look right here when you need a dmv car dealer attorney

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Some car dealer attorneys defend the dealer

Some car dealer attorneys defend the buyer

Selecting a good attorney is important

got1

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Car Dealer Attorneys for sellers

Stephanie Francone

License

Status

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Don Nauman

License

Status

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Car Dealer Attorneys for the buyer

Hovanes Margarian

License

Status

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Louis Liberty

License

Status

+++++

thx

Charlotte

gotplates.com

800-901-5950

is @beepi exempt from california car dealer advertising rules ??

we just pulled these ads from craigslist on an @beepi car for sale

as licensed california dealers @beepi must adhere to a host of advertising laws

here is @beepi california dealer license

+++

Main Location Information
BEEPI
1303 OCEAN ST STE B
SANTA CRUZ CA  95060
Tel: (866)623-3749
Location Opened : 12/12/2013
Location Closed:
Licensed to Provide,
Offer or Sell:
Used Auto/Commercial Vehicle Dealer.
License Information
License No.: 84834
License First Issued: 12/12/2013
Operator or Contact:
Owner of Business: CARSAVVY INC

+++

unfortunately ale resnick of @beepi has chosen not to follow california dealer law

here is the current list of craigslist ads from @beepi

+++

 

  • 2013 Hyundai Sonata GLS Certified Pre-owned

    losangeles.craigslist.org › … › cars & trucks – by dealer

    Craigslist Inc.

    32 mins ago – To see more photos and details of this Hyundai Sonata, check out this car’s Beepi listing by copying and pasting this link into your browser

  • 2011 Honda CR-V EX Certified Pre-owned

    losangeles.craigslist.org › … › cars & trucks – by dealer

    Craigslist Inc.

    32 mins ago – 2011 Honda CR-V EX 32500 miles $17800 no haggle price 888-542-3374 CALL ANYTIME This awesome Honda CR-V is for sale on Beepi.us, …

  • 2010 Ford Fusion SPORT Certified Pre-owned

    losangeles.craigslist.org › … › cars & trucks – by dealer

    Craigslist Inc.

    4 hours ago – To see more photos and details of this Ford Fusion, check out this car’sBeepi listing by copying and pasting this link into your browser

  • 2013 Ford Explorer XLT Certified Pre-owned

    losangeles.craigslist.org › … › cars & trucks – by dealer

    Craigslist Inc.

    4 hours ago – To see more photos and details of this Ford Explorer, check out this car’sBeepi listing by copying and pasting this link into your browser

  • 2013 Honda Accord EX-L Certified Pre-owned – Craigslist

    sandiego.craigslist.org › … › for sale › cars & trucks – by dealer

    Craigslist Inc.

    8 hours ago – To see more photos and details of this Honda Accord, check out this car’sBeepi listing by copying and pasting this link into your browser

  • 2013 Toyota Prius Three Certified Pre-owned

    losangeles.craigslist.org › … › cars & trucks – by dealer

    Craigslist Inc.

    4 hours ago – To see more photos and details of this Toyota Prius, check out this car’sBeepi listing by copying and pasting this link into your browser

  • 2012 Honda CR-V EX-L Certified Pre-owned – Craigslist

    sandiego.craigslist.org › … › for sale › cars & trucks – by dealer

    Craigslist Inc.

    8 hours ago – To see more photos and details of this Honda CR-V, check out this car’sBeepi listing by copying and pasting this link into your browser

 

is it time to take your car dealer license class ???

PRE-LICENSING CLASS LOCATIONS


Click on an city for class locations, times and information:


Private Classes for Renewal and Pre-License Students
We provide you the ability to operate your dealership within current DMV guidelines. You get to sit back and relax for 4 to 6 hours of dealer education (renewals 4 hr/ pre-licensing 6 hr). We will have you review your dealership with a series of questions and at the end of the course we will provide the course completion form.We teach private classes in all locations listed above as well as:

· Aptos
· Clovis
· Fresno
· Novato
· Ukiah


Prices for these classes:
1) $200 private renewal
2) $300 private pre-licensing

Additionally, we offer a “travel out” to your location
· the cost is $800 for up to three students, $200 for each additional student
· statewide coverage
· limited by our availability

Contact us for availability


Pre-License Only Class Options and Information:
· You must attend the class in person (6 hrs).
· You will study and take the DMV practice exam similar to the one given by your local inspector.
· A course certificate suitable for framing will be presented upon completion.
· Your certificate is good for one year.
· All materials are included.

Prices for these classes:
1) $100 – take our online tutorial before attending class & get $100.00 off your tuition
2) $200 – saves your seat
3) $300 – private pre-licensing class


 Pre-Licensing Dealer Class Schedule· Class list by Map
· Class list by Date
· Class List .pdf Download

· Or choose from the list below:

· Aptos
· Clovis
· Fresno
· Novato
· Ukiah

 Still have Questions?
Email us at: admin@gotplates.com
Call us at: 800.901.5950

used car dealer insurance considerations

  • Garage Liability
  • Inventory/Open Lot Coverage
  • Garage Keepers Legal Liability
  • False Pretense
  • Trick & Device
  • Personal Injury
  • True Comprehensive Coverage
  • Truth-in-Lending Errors and Omissions
  • Odometer Errors and Omissions
  • Title Errors and Omissions
  • Specified Vehicles
  • Medical Payment Coverage
  • Fire Legal Coverage
  • Building Coverage
  • Collision Coverage
  • Drive Other Car Coverage
  • Personal Property
  • Dealer’s Legal Defense
  • Products / Completed Operations
  • Business Income
  • Outdoor Signs
  • Attorney Assitance
  • Chose the coverages you want
  • Auto Dealers with repair shops
  • Personal Use for Owners, managers, and spouses

 

we offer car dealer education

and provide access to the best agents in the car dealer business

EZdealerinsurance.com

800-901-5950

we make it easy

on your mark…..are you ready to get your car dealer license ???

READY, SET, GO Getting your Dealer License

All California vehicle dealer applicants must take a mandatory six-hour coursetraining as mandated by the Department of Motor Vehicles before obtaining a vehicle dealer license. We conduct the courses throughout California. The fee for our new dealer course is:
$ 100 – with taking the online tutorial
$ 200 – without taking the online tutorial AND
$ 300 – for our private classes.
TriStar training is an excellent alternative to most new dealer programs, as we are retired training officers and not in the business of selling you dealer products.
The goal of each session is to provide comprehensive training is an easy to read and follow format. As our student you will be shown the required materials in our handbook, with an in-depth explanation of each required topic.
At anytime, if you have questions or need help in solving a problem you may email your question to: tsm974@gmail.com or call us toll free at: 800-901-5950

Signing up for the DMV approved pre-licensing class:
Registration and Class Completion – The course mandate covers a variety of topics and our program has full approval of the California Department of Motor Vehicles.

Download Our How Do I Become A Car Dealer Check list to get all of your questions answered.
to secure your seat with a valid credit card. Confirmation and directions will be sent via USPS, E Mail or FAX with in 24 hours.

To signup for a class by FAX, call 1-888-948-1795 and fax a copy of your ID, Along with your choice of class date and location

If sign up by phone call: 800-901-5950. If you know the course date and location just leave us your fax or email address with course information and we will send you a class confirmation.
Want More information about getting a dealer license? Read on:

There are basically three major steps you must complete to getting your license.
Step One
Complete the TriStar Motors 6 hour new dealer course, including our
practice test Sign up now online.
Obtain your class certificate upon completion of the course.
Make an appointment with the local DMV Inspector and pass the DMV Examination.
You will need 28 of 40 correct to pass the dmv multiple-choice examination. Three examination attempts are allowed on one pre-licensing certificate, one week apart. ( if you fail the car dealer examination go to http://licensedsalesperson.com & study )

After that if you fail the examination we retrain & re-certify you for free. Our dmv pre-licensing certificates are valid one year from the date of your car dealer class.

Expired certificates can be renewed by faxing your photo ID, contact number, expired certificate and your current mailing address to us at: 1-888-948-1795. Pre-licensing car dealer class fee of $100. when you submit your expired certificate.

Step Two
Prepare and submit your dealer application with a valid surety bond, resale permit & zoning approval letter
You will have to identify the type of dealership including an estimate of sales volume
The application must include a surety bond. A bond is a promise you make to the state, a promise that you will, in the event of a problem, have adequate financial coverage to solve the problem.
$ 10,000 bond needed if: Wholesale Only & less than 25 cars per year
Otherwise a $ 50,000 bond is needed
The premium you will pay to obtain a bond is based on the collective credit of the owners of the dealership.
The application must include a resale permit.
The Board of Equalization issues these resale permits and may require an additional bond for sales tax collection.
The application must include a zoning approval letter.
Each locality may place restrictions and charge fees to obtain local zoning approval. This is usually handled in an office called planning, and is generally where building permits are offered.
Some cities allow wholesale only in the home office. This will usually be approved with restrictions on vehicle storage and outsign signage.
Sometimes is it easier to start as wholesale & build up to retail.
Since wholesale dealers are restricted to within the industry acquisition and no selling to the public, some retail dealers will sell the occasional vehicle for a wholesaler.
This is known as a drafted sale, and the fee ranges from as low as $ 50. to as high as $ 1000.
Remember, the Inspector will have to put his or her name on your application prior to submission to DMV headquarters in Sacramento. The more complete and concise your application the greater the chance of acceptance and approval.
Step Three
Office Preparation and Photo Set
In order for your office to pass inspection several requirements must be met & demonstrated in photos prior to an actual inspection by the DMV.
A temporary license may be issued at the discretion of the Inspector prior to actual inspection.
A set of photos will help insure a temporary license & approval.
All dealers must maintain an office.
All offices must receive proper zoning approval.
Two dealers may not share the same address / office.
A dealer may share space with another business as long as such usage is approved by the local zoning authority and the business are clearly marked and separate.
The required photos are of the:
– Building
– Outside Sign
– Display Area
– Office
– Business License
– Posted Resale License
– Office Phone
– Office Signs
– Locked Cabinet or Safe
– Checkbook / Deposit Slip
– DMV Dealer Book
We are now offering our Study Guide-Class Outline © and Practice Exam © online to better help you prepare for your Dealer Licensing test (Please Note: this is not the online class which is offered to returning students). This tutorial will assist the New Dealer Student to:
Prepare for the class in advance.
Ask informed questions of the instructor during class
Provide ready access to the study guide and practice exam to those interested in becoming a salesperson or dealer.
If you have more questions please email us at: tsm974@gmail.com

you may get original plates in california for your collector car

Reassignment of Old Plates to a Collector Vehicle

New Policy

Old California plates (regular series) may be re-assigned to a collector vehicle, even if
the vehicle has a database record under a different license plate, when all of the
following conditions are met:
• Evidence is submitted to show that the old plates were once registered (assigned)
to the collector vehicle in California (see new requirements below).
• The old plate number is not on record or reserved as a special interest plate in the
Department of Motor Vehicles (DMV) database.
• The old plate’s combination of letters and numbers do not carry any connotations
offensive to good taste and decency.
• The owner (collector) has both the front and rear old plates for an automobile or
commercial vehicle or the single old plate for a motorcycle or trailer.

New Requirements

To put old, regular series California plates back on the collector vehicle, the original or
a photocopy of the California title, registration card, or renewal notice must be
submitted to the DMV to show that the plates were once registered to the vehicle (a
copy may only be used as proof the plates were registered to the vehicle; a copy cannot
be used for any other DMV purpose).

Procedures
To have the old, regular series California plates re-assigned to the vehicle submit:
• The proof that the plates were once registered to the vehicle (as noted above).
• A Statement of Facts (REG 256) from the vehicle owner stating in section G and
signing in section H to certify:
— The old plate number to be assigned to the vehicle.
— The old plates will not be affixed to the vehicle unless DMV sends approval.
— The plates currently on the vehicle will be surrendered to DMV if the old
plates are approved.
— Their daytime telephone number so the DMV can call if they have a question.
• There is no fee to reregister the old plates; however, any other fees or renewal
fees due within the next 75 days must be paid.
• All the required original documents for the application (transfer, nonresident, etc.)
in addition to old plate application requirements.

reach out to your dmv inspector

DMV HEADQUARTERS FOR DEALER LICENSING

916-229-3126

+++++

BAKERSFIELD DMV DEALER LICENSE INSPECTOR OFFICE

559-445-5304

CHICO DMV DEALER LICENSE INSPECTOR OFFICE

916-262-2563

COMMERCE DMV DEALER LICENSE INSPECTOR OFFICE

323-838-2711

COVINA DMV DEALER LICENSE INSPECTOR OFFICE

626-974-7140

EL CERRITO DMV DEALER LICENSE INSPECTOR OFFICE

510-231-7818

FAIRFIELD DMV DEALER LICENSE INSPECTOR OFFICE

707-864-4759

FRESNO DMV DEALER LICENSE INSPECTOR OFFICE

559-445-5304

HAYWARD DMV DEALER LICENSE INSPECTOR OFFICE

510-728-1349

LOS ANGELES DMV DEALER LICENSE INSPECTOR OFFICE

213-744-7563

ORANGE DMV DEALER LICENSE INSPECTOR OFFICE

714-703-2632

SACRAMENTO DMV DEALER LICENSE INSPECTOR OFFICE

916-262-2563

SAN BERNARDINO DMV DEALER LICENSE INSPECTOR OFFICE

909-890-0182

SAN DIEGO DMV DEALER LICENSE INSPECTOR OFFICE

619-688-0124

SAN FRANCISCO DMV DEALER LICENSE INSPECTOR OFFICE

415-431-6279

SAN JOSE DMV DEALER LICENSE INSPECTOR OFFICE

408-229-7113

SANTA MARIA DMV DEALER LICENSE INSPECTOR OFFICE

805-346-2192

+++++

SUPERVISORS 

DMV DEALER LICENSE INSPECTOR OFFICES

CARLOS GONZALEZ

916-262-2532

ELBERT COOK

510-231-7429

KWAME CROSBY

626-974-7125

VANESSA FIELDS

909-890-0251

PHILLIPE CAMERON

213-744-2128

PAM GREEN

714-703-2632

+++++

MANAGERS

DMV DEALER LICENSE INSPECTOR OFFICES

JOY CUNANAN

916-229-3139

PAM GREEN

909-890-0251

+++++

TRISTAR MOTORS LLC

DMV CERTIFIED CAR DEALER EDUCATION

DMV LIASION

CLAUDIA PATTON

310-216-1438

redstar

got1

5 helpful tips for getting your DMV wholesale car dealer license

  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

california car dealer insurance agent

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President of J.L. von Arx & Associates Insurance Services

CA Lic. # 0702245

 

a detailed look at truecar.com

The car market is poised for some major changes. It’s taken a long time for the internet to begin to reshape the auto industry. It’s a big business and relies on a massive web of independent dealers for customer acquisition, service and support.

Technology creates “one way doors”[1] that consumers pass through. Once they do they don’t go back – music on the iPod, online sharing using Facebook, navigation and maps on a smart phone, and instant streaming movies. We’ve seen plenty of these shifts already in established industries like advertising (Google), mutual funds (Morningstar), travel (Priceline), video rentals (Netflix), books & electronics (Amazon), collectables (eBay), restaurants (OpenTable), rental properties (RealPage), timeshares (HomeAway) and residential real estate (Zillow.)

Consumer expectations have changed thanks to Amazon, Priceline, eBay, Apple and scores of other companies that are modernizing old business practices. The auto industry has embraced some elements of the internet and knows that their business practices and strategy will have to change even more.

TrueCar aspires to reshape some aspects of how the industry works and make it more efficient for consumers to buy cars. In doing this over time, it will also add some growth to the total market and for participating dealers.

There is enough inefficiency in the current mode of automobile sales to allow both dealers and consumers to benefit from using TrueCar. Travel is a good example of a business that has become far more efficient. Before online travel sites, it was typical for an airline to spend 20% of sales on customer acquisition. Today that figure is less than 10%. Consumers end up with more convenience and better prices. Airlines avoid cus­tomer acquisition costs, which allows more of them to spring up and expand the market.

Auto dealerships are just now seriously grappling with the reality of internet-driven reform of their business. Almost all of them have added some form of online advertising and CRM to their dealer management systems; but few of these, if any have been considered as part of an overall business process re-engineering. It’s added some cost but few clear benefits.

TrueCar has been a bit of a lightning rod for some of the ire and insecurity that many dealers have regarding change. Even though they know that the current situation is untenable they are worried about the potential impact to their businesses.

Unfortunately, there are many stereotypes about the car business in general, and dealerships in particular, that cloud and confuse the discussions about how to leverage technology and evolve the business to be more effective and profitable. Any large business ends up being a reflection of society. Of course there are bad car dealers and lousy salesman out there; but that doesn’t say anything about the industry as a whole.

It’s really not about technology. It’s about treating customers better and making them happy, even eager, to buy a new or used car. People love cars, so this should be possible. There are some dealerships that have been doing this but the industry is far from there. A recent piece by Becky Quick of CNBC and Fortune highlighted this with the very basic conclusion that since car dealers are now in a service business they should focus on the customer.[2]

Today the customer is better informed, thanks to the internet and resources like the online version of Consumer Reports. They also don’t expect to play a game when they go to buy something. It starts with the fact that the price on the sticker is often not the actual price and mostly goes downhill from there.

This report provides additional background on the industry, an overview of the TrueCar approach and future plans, an analysis of the market and competition, and a valuation discussion. Our preliminary intrinsic value model estimates a TrueCar share price of $8.66 versus the most recent transactions at $5.30.

Cars bought versus cars sold

There’s a big difference between a car bought and a car sold in terms of effort involved and what the cost to the dealer should be. Selling is an art in general and a learned skill for cars in particular. For a potential customer just deciding to “take a look around,” the salesman plays a crucial role. Asking many questions, taking the prospect out for a test drive and making sure that when they get back they park next to the prospect’s old car for a direct comparison. Who wants to get into that same old car after driving this shiny vehicle full of that wonderful new car smell?

Automobile sales people also become adept at working many variables at the same time, including trade-in value, leasing options, dealer financing, and a litany of “extras” from floor mats to prosaic regional options like “pothole insurance” in the Northeast. A sales person can often make a sale occur with even more profit by targeting the monthly payment versus the vehicle price. Aftermarket options are icing on the cake. When all this comes together and a consumer who was “just looking around” ends up with a new car, the salesperson has earned their commission.

Today, many car buyers know exactly what car they want to buy. In many cases they have even used a manufacturer site to fully customize and price out (at least based on MSRP) the one they want. For example, some dealerships like BMW of Ridgefield, Connecticut have customers that line up and wait for an audience with a salesperson who will write up their sales order and take their money. There’s not much “selling” going on there.

We’re picking on BMW here but a large and growing portion of consumers have done their research and simply need to purchase the car they want. They don’t want to be sold. Trying to use the same process on them is a waste of energy and money. The dealer only needs to efficiently complete the transaction.

Even though all this will be fairly obvious to institutional investors, it will take time for the dealers to change their ways of doing business. Old habits don’t go away easily. For example, if one configures a nice little MINI online and shares that with a local dealer this is the result:

Dear [Name],

I received your inquiry on the 2012 MINI Cooper Convertible S. I have to say a great choice! Nothing better than putting the top down on a beautiful summer day. Lightning blue happens to be one of my favorite colors for the MINI. Are you looking for an automatic transmission or a manual transmission? In addition [dealer] currently has some terrific specials that I would like to discuss with you.

I am also happy to answer any questions pertaining to availability, colors, options, timing, etc. which are all items that will affect your final cost. I will try and reach you by phone or you can simply call me @ [dealer main switchboard].

If you prefer, all this can also be accomplished in the showroom, which would be a great opportunity for you to see & drive the vehicle you are considering.

Either way I will do whatever I can to help you get the [dealer name] vehicle you want at numbers that are agreeable to you.

Thank you again for your inquiry and I look forward to working with you.

Sincerely,

John Smith

Department Manager

[Dealer Name]

[Main Number]

[email@leadcrm.com]

Notice a few things about the email? It has some of the usual sales techniques like asking the customer about options and getting behind the wheel for a test drive. The contact information is generic, including both the phone number and the email address. Take note of the “leadcrm.com” domain name. It’s not even an email at the dealership.

To make matters worse, a follow-up email comes about an hour later from the “business manager” making sure that a reply has been sent. Unfortunately, he doesn’t even customize the email header with a unique name and “reply-to” so it makes it very clear to the trained eye that all the emails are generated by the CRM system to basically say “come on in to the dealership and we’ll sell you a car!” Thanks, but no thanks.

The TrueCar Solution

TrueCar is providing what a significant portion of car buyers want. This includes pricing information on the vehicle, simplified purchasing and, ultimately, other services like trade-in credit, extended warranty, insurance, and financing. In essence, this is the type of customer we’d call an “informed buyer.” They want the best combination of products and services for their needs at a fair price. This isn’t about squeezing out the lowest cost.

Said another way, TrueCar is providing the intelligence that buyers need to complete a transaction. Not all buyers do it this way, but many do and they represent a huge opportunity for the dealers in both increased sales and increased profitability.

The picture below shows how different the experience is for consumers who use TrueCar. The first thing people notice is the price data. Terms like MSRP and “dealer invoice” are artifacts of the old way of doing business. Dealers who participate provide “upfront pricing” that the consumer can rely on to make a purchase decision. Consumers can request a “price certificate,” which they can use at the dealer to buy their car. If (and only if) the consumer purchases the vehicle the dealer pays TrueCar a fee of $299 for a new car or $399 for a used car sale.

This price data is the first part of the one-way door we see TrueCar providing to consumers. Anyone making a large purchase is unlikely to want to do so without having this information. The next step is the “price protection certificate” which can be printed and taken to the dealer. It is basically a reservation to go in and purchase your vehicle. An example of one of these certificates is included at the end of this report.

This is a simple core idea that will continue to spread across the market. TrueCar isn’t stopping with new cars. The company has an aggressive development plan to attack adjacent areas of the market. One of the most obvious is used cars. TrueCar already has a data-based website called ClearBook which gives pricing information. However, the next step is to integrate the used car into a new purchase and get the trade-in value to be part of the overall upfront pricing from the dealer.

All cars need to be insured and most are financed or leased. These are two adjacent opportunities for TrueCar that we expect them to deliver on. Combining the new car pricing data with upfront pricing, including a trade-in along with financing and insurance, will allow consumers to complete what used to be a multi-day, complex set of transactions during their lunch hour.

How big is the opportunity?

The vast size of the US auto market supports a baseline revenue opportunity for TrueCar of $5.5B per year.

In round numbers there are between 30 and 40 million new and used cars sold every year by dealers in the US. The new car portion has been in the range of 12 to 16 million with the balance being used vehicles. A naïve starting point is to look at a typical market of 15 million new and 20 million used cars and apply the $299/$399 to compute a sort of “ultimate TAM” of $12.5B ($4.5B for new cars plus $8B for used cars.)  Complicating this picture a bit is the need to use “subscriptions” for dealers in some states because the success payment is outlawed in some areas. Since not all cars will be sold via a TrueCar process, we need to slice the market finer.

Cars are pretty standardized now but there is still a very visceral aspect to experiencing one and buying it. Consumers want to see it, touch it, and drive it. Even though more and more consumers do their homework online and want to buy that way, there will always be people who patronize the local dealer and build relationships with their salesperson over time. Turning to a little data of our own about purchasing consumer electronics, the percentage of consumers who plan to buy their goods from Amazon has been running at a fairly level 35% for the past few years. It’s a reasonable figure to use for online car buying via TrueCar at some point in the future. That would give TrueCar $4.4B annual revenues on car sales fees. As an aside, consumer purchase intentions at Amazon have consistently moved up and stand at 44%, so 35% is by no means a ceiling.

There’s additional market opportunity in related services. A sad but true fact is that the $700B size of the financing market for automobiles is even larger than the market for the underlying vehicles, at least in America. Financing a vehicle via a loan or lease suffers from some of the same opaqueness and inefficiency. Insurance is another facet of automobile ownership that also represents a large (~$200B) annual market.

TrueCar will have products in the financing and insurance markets. Incentive fees on loans, lease financing and insurance are fairly high. At this stage it’s very hard to estimate, but if we use the 35% figure for transactions and the same 35% for the “attach rate” on loans and insurance, TrueCar could be an intermediary in $110B worth of financing and insurance revenue. Using some fairly standard industry figures, this would translate into an incremental $1.1B to $1.25B of TrueCar revenue.

We’re not including any advertising or consumer revenues in these market opportunity estimates. We’re also not factoring in any growth in the overall automobile market or any portion of the international opportunity. Overall, TrueCar has room to generate annual revenues of $5.5B to $5.65B based on the current US market.

The TrueCar Trajectory

In 2009 TrueCar launched their dealer portal, website and an array of data-driven services and deliverables. This helped them illustrate their value and drive awareness of their platform. Data has always been the core element of TrueCar’s strategy, and they continued to build it with new sources and use licensing agreements with media outlets to reinforce the positioning of TrueCar as an authoritative source.

2010 was filled with much of the same and validated the TrueCar plan and business model. This led to a substantial $33.5M financing at mid-year from USAA, Capricorn Investment Group, GRP Partners and Silicon Valley Bank. During the balance of 2010 the company continued to execute their strategy, add to the senior management team and also announced their ClearBook to bring some clarity to used vehicle prices.

In 2011 TrueCar launched ClearBook (Q1), surpassed $1B in cumulative savings for consumers (Q2), acquired social media property Honk.com (Q2), licensed and incorporated “Black Book” used car values into the ClearBook data (Q2), acquired residual value service ALG from DealerTrack (NASDAQ: TRAK) for equity and warrants (Q3), raised $200M in additional financing (Q3), acquired Carperks, a leading provider of automobile purchasing and leasing as an employee benefit (Q3), and expanded senior management roles including a chief marketing officer and EVP of marketing.

TrueCar has leveraged affinity programs with large organizations like USAA, American Express and AAA to jumpstart customer acquisition and car purchases. USAA is an ideal partner because their members are keen on efficiency and appreciate truth and integrity. These channels are growing rapidly for TrueCar and still have a long way to go. The 150,000 cars affinity members purchased via TrueCar in 2011 are out of approximately 8 million total units. We expect affinity sales to double year on year for the next few years. At the same time, TrueCar has added several new affinity partners (Geico, Bank of America, Nationwide Insurance, PenFed, and Consumer Reports) that will contribute to future growth.

To close out 2011, TrueCar and Yahoo! agreed to a 3-year exclusive relationship, putting TrueCar at the core of the Yahoo! Auto business. This increases the current size of the TrueCar online user base 10-fold to over 10M unique views per month. TrueCar will be paying Yahoo! handsomely for the traffic ($150M over the term) but their high rate of monetization makes the numbers work well for investors. There is also important strategic value because this puts TrueCar at the top of the heap in terms of traffic. It makes it nearly impossible for a dealer to opt out of the TrueCar offer.

In 2012 we expect to see the company become more ubiquitous and to increase the product and service portfolio to cover additional elements of the auto business including trade-ins, insurance and financing.

Online car buying and selling so far

The auto industry has moved their pre-existing practices online. Classified ads in newspapers have moved online. Mainstays like Consumer Reports help consumers online with the best information and analysis. All of the information is there with a few clicks of the mouse or touches of the screen.

There are lots of places to buy, sell and research cars today online. These include general-purpose sites like Craigslist and vehicle-specific ones like cars.com. Many of these sites have carved out at least an ad-hoc positioning based on how consumers are using these services. For example, Craigslist is a good fit for selling an inexpensive used car quickly and locally. If you have a more special car, sites like eBay Motors or cars.com are a better bet.

Many of the online sites provide services that help consumers search for cars based on their own individual preferences like make, model, mileage, options, color, price, and location. They also provide pictures and sometimes include third party information like loan payment calculators and Kelly Blue Book values.

So far, much of the “online” experience has had limited impact on industry practices because in many ways the online initiatives replicated older methods. For example:

  • So how should it work?

    Let’s say I want to buy a 2012 Acura MDX next week to upgrade from my current 2008 model.

    With TrueCar I know that a good price on a new one with the options I want is $44,800. I also know that the target trade-in price for my existing vehicle is $27,035 according to ClearBook.

    Although cars are close to standard they are not quite and used cars can vary quite a bit in terms of the condition of the vehicle. In fact my car has a small dent in the hood, which is estimated to cost $1,400 to fix. I don’t know how much the dealer would have to pay but it’s a real cost.

    On the financial and insurance side of the coin my insurance would need to be updated so some quotes are needed. And whatever financing options are available should be quoted as well.  At the same time the myriad of add-ons from roof racks to extended warranties should be offered.

    As a consumer I can provide all the parameters and even pre-selet details in terms of color choices. If needed I can also and supply detailed maintenance records and pictures of my existing vehicle.

    Having done all this work I’d want a quote on the whole thing and a date and time when I can come in and make it happen. I’d even be willing to pay something to validate it so the dealer knows I’m not just “tire kicking.”

    On appointment I arrive with my car and a bank check for $19,165 (or less if I’ve opted for and and been approved for financing.) I do most of the “paperwork” online and spend a 1/2 hour signing some things at the dealership and another hour doing my “new vehicle briefing” where they show you how to use the new mind-activated windshield wipers and I’m on my way.

    Craigslist replaced the old classified ads in general and for cars in particular. In the Northeast, people used to get something called the “Pennysaver,” which listed items for sale. Craigslist has taken over but it’s still just a listing tool.

  • Specialty publications like Autotrader have simply gone online and added a “.com” to their business. It’s still fundamentally an ad or listing-based business.
  • eBay Motors is also basically a listings business although they have the added element of auctions which only existed for high-end collector cars. That business is still dominated by the auction houses.
  • Manufacturers were actually the first to embrace online, and companies like BMW displayed some early leadership in communicating with customers and allowing them to create and save their own versions of BMW cars. These are useful but in the end the only option a consumer has to move forward is to have their information fed to a dealer “lead management” system in order to be called and sold to.

In other words, the methods and mechanisms are now online but primarily the same. The consumers and sellers still do the same work and pay the same way.  For example, most new car searching requires a local dealer to respond with a quote. This is where it all breaks down and fails to work. Instead of a simple firm price the consumer faces a delay, after which a deluge of marketing and sales-oriented emails from different dealers appear to explore the “lead.” Consumers, particularly the ones who tend to spend more money, do not want to be subjected to this.

Because lead generation sites sit between consumers and dealers, they tend to block both sides from getting what they want just so they can collect a small fee in the process. Unfortunately, the result is that the lead generator will get a payment but neither the consumer nor the dealer gets what they were seeking. Imagine the case where a consumer is looking at multiple make and model options: every price quote might mobilize a dozen different dealer representatives. The consumer only wants information including pricing, and hasn’t even decided on a make of vehicle. And providing customer name and email might put you in a bad position. The lead generator finds out what kind of money you are likely to spend and could sell the lead for a high price. The dealer who pays for it may do so with the aim of selling at a higher rather than a lower price.

The internet is actually increasing the costs for dealers. Advertising expense per vehicle sold has increased from $314 in 1996 to nearly $600 in 2006. Industry figures for 2007 reflect $13.17b spent on marketing with $2.35b spent online. There are 20,700 auto dealerships in the US but the number is expected to decline over time due to attrition and consolidation.

Dealers hesitate to give a firm price quote online because it weakens their negotiating position. Their real desire is to get a consumer into the dealership. The whole process creates inefficiency and breeds distrust.  The only way to fix this is to start reducing costs that don’t drive sales directly. In other words, paying a fee per sale makes much more sense as long as it is below this $600 figure.

Overall, the process is so bad that consumers are often turning to concierge type services that basically go out and purchase the car for a consumer so they can avoid the entire business. They may not get the absolute best price (because these services charge a fee) but they don’t end up with the worst price and they save time.

There is a trend toward upfront pricing at some organizations like United Auto Group, CarMax, and AutoNation. Lithia is a large dealership that has experimented with clear pricing and even the notion that sales should be replaced with customer specialists. This is similar to what Zappos decided to do in retail with outstanding results.

Some dealers continue to complicate the process by trying to get customers to approach the purchase differently and focus on a “monthly payment threshold” where factors like price, trade-in value, creditworthiness, and financing incentives can be used to control the decision process and avoid a direct price discussion.

Operationally, TrueCar has surpassed 25,000 vehicle sales per month, which puts them in league with the largest auto retail organizations including public companies AutoNation (NYSE: AN $33.50, $7.6B TEV) and CarMax (NYSE: KMX $27.00, $10.4B TEV). To be fair, TrueCar doesn’t sell cars themselves but facilitates the process between buyers and sellers. Depending on the rules and regulations prevailing in each geography they collect success fees or subscription fees for the service.

The car dealers themselves don’t offer the type of secular growth that TrueCar does because the traditional business is mature. Most other leading vehicle retailers have growth rates in the low single digits. Even eBay Motors has been a fairly flat business for the past six quarters at a $2B run rate.

The auto market is so large that there will always be myriad competitors in different segments – new cars, classified listings, auctions, used cars, financing, information & research, insurance, fleet services, etc.

The biggest direct competition for TrueCar is the old way of doing business, which everyone agrees has to change. There are, however, a few existing and potential competitors to TrueCar that are worth a closer look. One is another West Coast startup that is trying to bring a “new model” to the car-buying consumer. In this case, carWoo! is simply acting as an intermediary so a consumer doesn’t have to share their name, email or phone number with the dealers. However, the result is the same as traditional lead generation since the dealers all respond with the same “come on down to the dealership and we’ll talk” approach. CarWoo! also expects consumers to pay a fee to request more bids from dealers. Since a bid is meaningless (not a price certificate), the model seems doubtful.

Detractors and Risk Factors

There has been resistance and controversy around TrueCar that is tied mostly to a misplaced view that the company is somehow “destroying the car business.” Going back to the travel example, we know that companies like Priceline have actually helped the travel industry become more efficient and grow. Similar observations can be made in other industries.

As an innovator and pioneer it’s necessary for TrueCar to deal with the education needed and be flexible about their business practices to ensure that dealers and regulators focus on the long-term and appreciate the value that TrueCar is bringing to the industry.

Most service-oriented businesses don’t like to compete on price. But one must acknowledge that price is a big factor for consumers. Because TrueCar provides price information and also uses dealer-sourced data, the incorrect notion that somehow TrueCar was “using my own data for consumers to negotiate against me” made dealers upset.

As the preceding diagram “How TrueCar Uses Data” shows, TrueCar uses only non-dealer data to generate the price curves that consumers can use to judge how their price stacks up. There are numerous data vendors in the space that aggregate information like retail delivery reports, loan information and insurance policies. Lastly TrueCar also gets some data directly from consumer self-reports of new care purchases.

The dealer-sourced data is limited to what is required to identify referred sales (customer and vehicle information) and kept separate. This data is used to match a dealer sale to a TrueCar lead so the company can invoice and get paid. The sales matching data and supporting process is an operational, not an informational, system.

Actual car sales prices are not hard to come by and the market is far too large and diverse to be “locked down.” So in the end consumers are going to want, and obtain, access to this price data; for dealers, at least TrueCar is on their side. TrueCar only makes money when the dealer is successful.

There are hints that eventually everyone will see to demonstrate that it’s possible to sell to informed car buyers and still be happy and profitable. The fact is that consumers are not homogeneous. People still use local merchants for many purchases while driving to Walmart or Costco for “big shopping.” Even the “cult of Amazon Prime” buyers still enjoy shopping in stores and buying things to take home. By focusing on experience and services, the surviving dealers will thrive.

As we have witnessed with the travel industry, the pricing variety is as great as the different types of travelers. In the case of cars there is always the customer that will take a bus for two days to buy a demo model of a car in an ugly green to get a rock bottom price as well as the female executive who wants sexy black sedan delivered to her house, serviced via pick-up and drop-off from her office (washed and with a full tank every time) from her local dealer. And, of course, there are the millions between the two. They all need to know how much their car is going to cost.

The other area under scrutiny is access to, ownership of, and use of data. Dealers have some data and it gets aggregated to some degree. Some of the controversy above has stemmed from TrueCar “using the dealer’s own data against them,” which is partially true. But auto sales are just that, and the sales data isn’t proprietary. So while car dealers could try to make it more difficult to get data, they can’t keep it from finding its way into the market.

Management, Business Model and Valuation

Many closely associate the founder and CEO, Scott Painter, with the company. Scott has a long history in the industry, which includes the founding of CarsDirect.com. Scott founded Zag in 2005 and TrueCar in 2008 (with co-founder Tom Taira who became Chief Product officer when the two companies were merged into what is now TrueCar in 2010.) Scott’s vision, charisma and passion for improving the industry is well known. The rest of the management team is mature, with many having worked together for years at both TrueCar and prior companies. In addition to earlier auto-related businesses (like Toyota, CarFax, Model E, Zag) résumés include experience at companies like Yahoo!, Fox Networks, Alibaba, Overture, and American Express. Overall, the team appears adequate to handle the current high growth and to continue to improve operating margins.

TrueCar is really a data and online information company, which means they receive increasing returns to scale. It starts with a high gross margin of 80%. This makes it desirable for the company to invest aggressively in growth. Their heavy spending has generated losses, but these have been narrowing and we expect the company to become profitable soon and enjoy improving operating margins that will reach 24% during our forecast period. We expect these margins to continue to go up based on similar models.

Our initial IV model does not fully factor in the Yahoo! transaction, but already yields a valuation over 60% higher than the last funding round. If TrueCar executes well on the Yahoo! opportunity and maintains their high monetization rate, our revenue and IV estimates will be moved up much higher.

We’ve also included two groups of peer companies. Fundamentally, TrueCar fits into a category of “data and internet-focused disruptors” which are shown in one peer group. On average this group generates 69% gross margins and trades at nearly 8x revenues. The other peer group is auto industry companies, mostly dealers and distributors. The conventional auto business is lower gross margin (average 31%) and trades at a much lower 1.3x average ratio of price/sales. It’s worth noting that one company focused on auctions exhibits some features of the internet group and trades at a more respectable 3.9x sales.

CONCLUSION

The internet wave is coming to the automobile industry and we know that the business processes, practices and financial models are going to change. It’s a safe bet that the consumer is going to be a winner but dealers and manufacturers will also benefit if they face the future and put their time and energy into embrace the changes.

We also know that consumer acquisition costs are going to go down and that increased efficiency will drive more car sales. We expect the best dealers to master the internet over the next few years but progress will be uneven and vary by geography.

TrueCar is a key enabler for this transition and stands to benefit by providing the tools and services that will allow consumers and dealers to do business more easily. Dealers have good back end systems but almost nothing on the front end. TrueCar is a good example of a solution that will enable them to automate and optimize their business. Dealers will lower their selling cost per car, increase inventory turns and sales volumes.

TrueCar will capture a small portion of this efficiency improvement as revenue. Because of the large market size and opportunity in ancillary services (finance, insurance, etc.), they can grow rapidly to public company size and enjoy expanding margins.

Our IV analysis suggests 60% upside to the most recent valuation of the shares.


[1] For more on one way doors – http://blog.research2zero.com/2010/12/notes-from-think-tank/

[2] http://finance.fortune.cnn.com/2012/02/28/sexist-car-salesmen/

your dmv car dealer license application requires a photoshoot

PHOTOGRAPH PROCEDURES
IMPORTANT NOTE: The department will perform on site inspections to conirm the contents of photographs.
Submission of fraudulent application form(s) and/or photograph(s) is grounds to refuse to issue this and any
subsequent license.
− Photographs must be clear enough to ensure compliance with requirements.

− Each photograph must be dated and signed.

− Photograph must be attached to a sheet of paper, labeled and numbered according to directions below.

DIRECTIONS FOR PHOTOGRAPH REQUIREMENTS
• Office
− Photographs must clearly show an office set up to perform the duties required by the license type, including
adequate secure storage for accountable materials and records.
• Entrance
− Photograph(s) of the office entrance, which includes the office address from the outside of the building.
(NOTE: See directions under sign for further directions if the address is not affixed near the office entrance
or to the exterior of the building.)
− If the office entrance is not directly accessible from the exterior, then a photograph from the corridor showing
the direct entrance is also required.
• Office Use
− Exclusive Office Use: A full photograph from the entrance to the back wall which includes both side walls.
Option: Two or more photographs that can be placed together covering the entire office area.
− Non-Exclusive Office Use: Businesses involving vehicles or their component parts must be conducted
separate from other types of businesses. Provide photographs that clearly show the physical division
between businesses involving vehicles or their component parts, (1670 CVC).
• Books and Records
− Photograph(s) of where the books and records pertinent to the type of business being conducted are kept
(320 CVC).
• Sign
− Photograph(s) must clearly show a sign permanently affixed to the exterior of the building, visible from a
distance of ifty (50) feet. If the address is not visible on the exterior of the building, then it must appear on
the sign.
− Sign From Fifty (50) Feet: A photograph of the sign from a distance of ifty (50) feet is required.
− Sign From Property Entrance: A photograph of the sign from the nearest public entrance to the property.
• Display Area
− Photograph(s) must clearly show an area large enough for the type of vehicle(s) for sale and must be for the
exclusive use of the licensee.
− Photographs of the complete display area.
− Photograph(s) that shows the proximity of the display area(s) to the office. If the display area is not in the
immediate vicinity of the office, another permanently installed sign is required to identify the business name
and office address.
− Photograph(s) that includes display area sign(s). If utilizing designated parking spaces, a sign must be
permanently installed designating the spaces for the exclusive use of the licensee (business name). A copy
of a contract or lease agreement for the spaces must be included with the application.
• Location
− Licensees with minimal license requirements must submit a photograph that clearly shows the place of
business (exterior of building and/or property), posted business name sign and area for licensed activity.

#realcardealerschool odometer rollbacks always require written disclosure

car dealer compliance tips from the #realcardealerschool

we recently met with larry, executive director of IADAC

and we discussed the need for enhanced car dealer education

in that regard

we offer specific tips for continued compliance

for existing california car dealers

odometer exemption does not allow a rollback and written disclosure is required

car dealers know that certain vehicles are exempt from odometer disclosure

on the bill of sale

that being said

any change in the actual mileage of a vehicle

whether wholesale or retail

requires a written disclosure

an announcement at auction

and the placement of a mileage sticker in the drivers door frame

announcing the date of change and the mileage at change

NAAA Auction Rules for Odometer Rollback

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the only #realcardealer certified to teach

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some return your phone calls

some only sell bonds

some only sell insurance

some sell car dealer forms

some do income tax preparation

some cancel classes at the last minute

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we always answer phone calls

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we NEVER cancel our classes once posted on our website

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dmv requires a training class to take your car dealer license examination

dmv requires you pass a 40 question exam to submit your car dealer license application

we teach the required dmv license certification class in more places than anyone else

find out why our competition struggles to match our offer

could it be better value??

could it be better pricing??

could it be our dedication to customer service??

we like to think it is all three

visit our website to see our entire class schedule

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joseph is our car dealer license instructor in modesto

415-730-3131

we have a class in modesto every month

http://gotplates.com/cities.php?city=Modesto

good luck with getting your car dealer license

state investigators have a new tool for tax evaders

Governor Signs AB576

New Enforcement Effort Will Target Tax Evaders

It is estimated that tax cheaters and evaders in California are ripping off the state by billions of dollars a year, but legislation signed into law by Governor Jerry Brown this week, will work to change that.

Assembly Bill 576 provides for a new investigation and enforcement effort that will include California Statewide Law Enforcement Association (CSLEA) members who are investigators with the Employment Development Department (EDD), the Franchise Tax Board (FTB), and the Department of Justice (DOJ) all working with the Board of Equalization (BOE).

“These people and businesses making money, yet fudging numbers to avoid taxes and fees, or not reporting all together, hurt our economy, ” said CSLEA President Alan Barcelona.  “That’s money that could be used for public safety, consumer protection, public schools and other state services.”

AB 576 will create a centralized intelligence partnership to be known as the Revenue Recovery and Collaborative Enforcement Team until January 1, 2019.

get EZ car dealer insurance for your car dealer plates

WE MAKE IT SIMPLE FOR YOU

call jon at 562-795-6611

+++++

all licensed car dealers must maintain

used car dealer insurance

and dealer license plates

to operate their vehicles on the road

+++++

most dealers offer test drives to potential customers

if the dealer secures a copy of the prospective buyers

drivers license and insurance card on an existing vehicle

and

issues a letter of permission to the prospective buyer

( such test drive is legal for up to 7 days )

11580 of the insurance code goes into effect

+++++

craigslist is homebase for odometer fraud

 

Craigslist – homebase for Curbstoners and Scammers

Joseph Coupal -

I got a call from a friend yesterday that was trying to buy a car from an individual that she connected with on Craigslist. The car she was attempting to buy was a very nice 2007 Toyota Camry with 100,000+ plus. While the car was in excellent condition, the miles were lower than average and the seller’s asking price was Kelley Blue Book. She had the car taken to her mechanic, bought a CARFAX report and did everything she could possibly do to protect herself from a scam and agreed to pay a premium for the vehicle (the KBB price).

She left a sizable deposit on the car and went to her bank to get a loan. What she found out next will shock you!

The seller of the vehicle is a Curbstoner – a non-licensed dealer that flips cars for a profit without paying taxes or adhering to regulatory requirements that are in place to keep dealers compliant and protect the public from harm. This Curbstoner was trying to sell a vehicle that they did not own. Meaning they were not on the title and the name of the individual on the title was different from his last name. His excuse was that he was “selling it for a friend”. He showed my friend that the title was signed by the owner but not dated. No big deal right? WRONG! How do we know that the owner gave permission for the vehicle to be sold? How do we know the signature is not a forgery? How do we know that this vehicle is not part of an estate and the owner on the title is deceased ? All those things mean you will be paying for a car and it will never be yours because it was conveyed to you illegally.

My friends bank told her that the check would have to be made out to the person that is on the title and they wanted to see a copy. The greedy Curbstoner told my friend to tell her bank that she was actually dealing with the person on the title and that the seller wanted cash. If my friend had agreed to do this, she would have committed bank fraud!

Unfortunately, my friend was unable to proceed with the deal and the Curbstoner kept her cash deposit.

Don’t let this happen to you! Whether you are buying or selling a vehicle, stay away from Craigslist it’s a haven for people that want to take advantage of you. CarBuyerUSA will buy any car and we will come to you. We put everything in writing in a legal purchase agreement so you are protected. Our transporters are bonded and insured and our funds are guaranteed.

If you need to sell a vehicle yourself, do it the easy way and call CarBuyerUSA.

For more information please call (888) 995-6498 or visit www.carbuyerusa.com

this FTC policy addresses unfair competitive advantage being employed by disruptive technology used car sales models

FTC Policy Statement on Unfairness

DATE:

Appended to International Harvester Co., 104 F.T.C. 949, 1070 (1984). See 15 U.S.C. § 45(n).

The Honorable Wendell H. Ford
Chairman, Consumer Subcommittee
Committee on Commerce, Science, and Transportation
Room 130 Russell Office Building
Washington, D.C. 20510

The Honorable John C. Danforth
Ranking Minority Member, Consumer Subcommittee
Committee on Commerce, Science, and Transportation
Room 130 Russell Office Building
Washington, D.C. 20510

Dear Senators Ford and Danforth:

This is in response to your letter of June 13, 1980, concerning one aspect of this agency’s jurisdiction over “unfair or deceptive acts or practices.” You informed us that the Subcommittee was planning to hold oversight hearings on the concept of “unfairness” as it has been applied to consumer transactions. You further informed us that the views of other interested parties were solicited and compiled in a Committee Print earlier this year.1 Your letter specifically requested the Commission’s views on cases under Section 5 “not involving the content of advertising,” and its views as to “whether the Commission’s authority should be limited to regulating false or deceptive commercial advertising.” Our response addresses these and other questions related to the concept of consumer unfairness.

We are pleased to have this opportunity to discuss the future work of the agency. The subject that you have selected appears to be particularly timely. We recognize that the concept of consumer unfairness is one whose precise meaning is not immediately obvious, and also recognize that this uncertainty has been honestly troublesome for some businesses and some members of the legal profession. This result is understandable in light of the general nature of the statutory standard. At the same time, though, we believe we can respond to legitimate concerns of business and the Bar by attempting to delineate in this letter a concrete framework for future application of the Commission’s unfairness authority. We are aided in this process by the cumulative decisions of this agency and the federal courts, which, in our opinion, have brought added clarity to the law. Although the administrative and judicial evolution of the consumer unfairness concept has still left some necessary flexibility in the statute, it is possible to provide a reasonable working sense of the conduct that is covered.

In response to your inquiry we have therefore undertaken a review of the decided cases and rules and have synthesized from them the most important principles of general applicability. Rather than merely reciting the law, we have attempted to provide the Committee with a concrete indication of the manner in which the Commission has enforced, and will continue to enforce, its unfairness mandate. In so doing we intend to address the concerns that have been raised about the meaning of consumer unfairness, and thereby attempt to provide a greater sense of certainty about what the Commission would regard as an unfair act or practice under Section 5.

This letter thus delineates the Commission’s views of the boundaries of its consumer unfairness jurisdiction and is subscribed to by each Commissioner. In addition, we are enclosing a companion Commission statement that discusses the ways in which this body of law differs from, and supplements, the prohibition against consumer deception, and then considers and evaluates some specific criticisms that have been made of our enforcement of the law.2 Since you have indicated a particular interest in the possible application of First Amendment principles to commercial advertising, the companion statement will include discussions relevant to that question. The companion statement is designed to respond to the key questions raised about the unfairness doctrine. However, individual Commissioners may not necessarily endorse particular arguments or particular examples of the Commission’s exercise of its unfairness authority contained in the companion statement.

Commission Statement of Policy on the Scope of the
Consumer Unfairness Jurisdiction

Section 5 of the FTC Act prohibits, in part, “unfair … acts or practices in or affecting commerce.”3 This is commonly referred to as the Commission’s consumer unfairness jurisdiction. The Commission’s jurisdiction over “unfair methods of competition” is not discussed in this letter.4 Although we cannot give an exhaustive treatment of the law of consumer unfairness in this short statement, some relatively concrete conclusions ran nonetheless be drawn.

The present understanding of the unfairness standard is the result of an evolutionary process. The statute was deliberately framed in general terms since Congress recognized the impossibility of drafting a complete list of unfair trade practices that would not quickly become outdated or leave loopholes for easy evasion.5 The task of identifying unfair trade practices was therefore assigned to the Commission, subject to judicial review,6 in the expectation that the underlying criteria would evolve and develop over time. As the Supreme Court observed as early as 1931, the ban on unfairness “belongs to that class of phrases which do not admit of precise definition, but the meaning and application of which must be arrived at by what this court elsewhere has called ‘the gradual process of judicial inclusion and exclusion.'”7

By 1964 enough cases had been decided to enable the Commission to identify three factors that it considered when applying the prohibition against consumer unfairness. These were: (1) whether the practice injures consumers; (2) whether it violates established public policy; (3) whether it is unethical or unscrupulous.8 These factors were later quoted with apparent approval by the Supreme Court in the 1972 case of Sperry & Hutchinson.9 Since then the Commission has continued to refine the standard of unfairness in its cases and rules, and it has now reached a more detailed sense of both the definition and the limits of these criteria.10

CONSUMER INJURY

Unjustified consumer injury is the primary focus of the FTC Act, and the most important of the three S&H criteria. By itself it can be sufficient to warrant a finding of unfairness. The Commission’s ability to rely on an independent criterion of consumer injury is consistent with the intent of the statute, which was to “[make] the consumer who may be injured by an unfair trade practice of equal concern before the law with the merchant injured by the unfair methods of a dishonest competitor.”11

The independent nature of the consumer injury criterion does not mean that every consumer injury is legally “unfair,” however. To justify a finding of unfairness the injury must satisfy three tests. It must be substantial; it must not be outweighed by any countervailing benefits to consumers or competition that the practice produces; and it must be an injury that consumers themselves could not reasonably have avoided.

First of all, the injury must be substantial. The Commission is not concerned with trivial or merely speculative harms.12 In most cases a substantial injury involves monetary harm, as when sellers coerce consumers into purchasing unwanted goods or servicesl3 or when consumers buy defective goods or services on credit but are unable to assert against the creditor claims or defenses arising from the transaction. 14 Unwarranted health and safety risks may also support a finding of unfairness.15 Emotional impact and other more subjective types of harm, on the other hand, will not ordinarily make a practice unfair. Thus, for example, the Commission will not seek to ban an advertisement merely because it offends the tastes or social beliefs of some viewers, as has been suggested in some of the comments.16

Second, the injury must not be outweighed by any offsetting consumer or competitive benefits that the sales practice also produces. Most business practices entail a mixture of economic and other costs and benefits for purchasers. A seller’s failure to present complex technical data on his product may lessen a consumer’s ability to choose, for example, but may also reduce the initial price he must pay for the article. The Commission is aware of these tradeoffs and will not find that a practice unfairly injures consumers unless it is injurious in its net effects.17The Commission also takes account of the various costs that a remedy would entail. These include not only the costs to the parties directly before the agency, but also the burdens on society in general in the form of increased paperwork, increased regulatory burdens on the flow of information, reduced incentives to innovation and capital formation, and similar matters.18 Finally, the injury must be one which consumers could not reasonably have avoided.19 Normally we expect the marketplace to be self-correcting, and we rely on consumer choice-the ability of individual consumers to make their own private purchasing decisions without regulatory intervention–to govern the market. We anticipate that consumers will survey the available alternatives, choose those that are most desirable, and avoid those that are inadequate or unsatisfactory. However, it has long been recognized that certain types of sales techniques may prevent consumers from effectively making their own decisions, and that corrective action may then become necessary. Most of the Commission’s unfairness matters are brought under these circumstances. They are brought, not to second-guess the wisdom of particular consumer decisions, but rather to halt some form of seller behavior that unreasonably creates or takes advantage of an obstacle to the free exercise of consumer decisionmaking.20

Sellers may adopt a number of practices that unjustifiably hinder such free market decisions. Some may withhold or fail to generate critical price or performance data, for example, leaving buyers with insufficient information for informed comparisons.21 Some may engage in overt coercion, as by dismantling a home appliance for “inspection” and refusing to reassemble it until a service contract is signed.22 And some may exercise undue influence over highly susceptible classes of purchasers, as by promoting fraudulent “cures” to seriously ill cancer patients.23 Each of these practices undermines an essential precondition to a free and informed consumer transaction, and, in turn, to a well-functioning market. Each of them is therefore properly banned as an unfair practice under the FTC Act.24

VIOLATION OF PUBLIC POLICY

The second S&H standard asks whether the conduct violates public policy as it has been established by statute, common law, industry practice, or otherwise. This criterion may be applied in two different ways. It may be used to test the validity and strength of the evidence of consumer injury, or, less often, it may be cited for a dispositive legislative or judicial determination that such injury is present.

Although public policy was listed by the S&H Court as a separate consideration, it is used most frequently by the Commission as a means of providing additional evidence on the degree of consumer injury caused by specific practices. To be sure, most Commissi6n actions are brought to redress relatively clear-cut injuries, and those determinations are based, in large part, on objective economic analysis. As we have indicated before, the Commission believes that considerable attention should be devoted to the analysis of whether substantial net harm has occurred, not only because that is part of the unfairness test, but also because the focus on injury is the best way to ensure that the Commission acts responsibly and uses its resources wisely. Nonetheless, the Commission wishes to emphasize the importance of examining outside statutory policies and established judicial principles for assistance in helping the agency ascertain whether a particular form of conduct does in fact tend to harm consumers. Thus the agency has referred to First Amendment decisions upholding consumers’ rights to receive information, for example, to confirm that restrictions on advertising tend unfairly to hinder the informed exercise of consumer choice.25

Conversely, statutes or other sources of public policy may affirmatively allow for a practice that the Commission tentatively views as unfair. The existence of such policies will then give the agency reason to reconsider its assessment of whether the practice is actually injurious in its net effects.26 In other situations there may be no clearly established public policies, or the policies may even be in conflict. While that does not necessarily preclude the Commission from taking action if there is strong evidence of net consumer injury, it does underscore the desirability of carefully examining public policies in all instances.27 In any event, whenever objective evidence of consumer injury is difficult to obtain, the need to identify and assess all relevant public policies assumes increased importance.

Sometimes public policy will independently support a Commission action. This occurs when the policy is so clear that it will entirely determine the question of consumer injury, so there is little need for separate analysis by the Commission. In these cases the legislature or court, in announcing the policy, has already determined that such injury does exist and thus it need not be expressly proved in each instance. An example of this approach arose in a case involving a mail-order firm.28 There the Commission was persuaded by an analogy to the due-process clause that it was unfair for the firm to bring collection suits in a forum that was unreasonably difficult for the defendants to reach. In a similar case the Commission applied the statutory policies of the Uniform Commercial Code to require that various automobile manufacturers and their distributors refund to their customers any surplus money that was realized after they repossessed and resold their customer’s cars.29 The Commission acts on such a basis only where the public policy is suitable for administrative enforcement by this agency, however. Thus it turned down a petition for a rule to require fuller disclosure of aerosol propellants, reasoning that the subject of fluorocarbon safety was currently under study by other scientific and legislative bodies with more appropriate expertise or jurisdiction over the subject.30

To the extent that the Commission relies heavily on public policy to support a finding of unfairness, the policy should be clear and well-established. In other words, the policy should be declared or embodied in formal sources such as statutes, judicial decisions, or the Constitution as interpreted by the courts, rather than being ascertained from the general sense of the national values. The policy should likewise be one that is widely shared, and not the isolated decision of a single state or a single court. If these two tests are not met the policy cannot be considered as an “established” public policy for purposes of the S&H criterion. The Commission would then act only on the basis of convincing independent evidence that the practice was distorting the operation of the market and thereby causing unjustified consumer injury.

UNETHICAL OR UNSCRUPULOUS CONDUCT

Finally, the third S&H standard asks whether the conduct was immoral, unethical, oppressive, or unscrupulous. This test was presumably included in order to be sure of reaching all the purposes of the underlying statute, which forbids “unfair” acts or practices. It would therefore allow the Commission to reach conduct that violates generally recognized standards of business ethics. The test has proven, however, to be largely duplicative. Conduct that is truly unethical or unscrupulous will almost always injure consumers or violate public policy as well. The Commission has therefore never relied on the third element of S&H as an independent basis for a finding of unfairness, and it will act in the future only on the basis of the first two.

We hope this letter has given you the information that you require. Please do not hesitate to call if we can be of any further assistance. With best regards,

/s/Michael Pertschuk Chairman

/s/Paul Rand Dixon Commissioner

/s/David A. Clanton Commissioner

/s/Robert Pitofsky Commissioner

/s/Patricia P. Bailey Commissioner

__________

1Unfairness: Views on Unfair Acts and Practices in Violation of the Federal Trade Commission Act (1980) (hereinafter referred to as “Committee Print”).

2Neither this letter nor the companion statement addresses ongoing proceedings, but the Commission is prepared to discuss those matters separately at an appropriate time.

3The operative sentence of Section 5 reads in full as follows: “Unfair methods of competition in or affecting commerce, and unfair or deceptive acts or practices in or affecting commerce, are declared unlawful.” 15 U.S.C. 45(a)(1).

4In fulfilling its competition or antitrust mission the Commission looks to the purposes, policies, and spirit of the other antitrust laws and the FTC Act to determine whether a practice affecting competition or competitors is unfair.See, e.g., FTC v. Brown Shoe Co., 384 U.S. 316 (1966). In making this determination the Commission is guided by the extensive legislative histories of those statutes and a considerable body of antitrust case law. The agency’s jurisdiction over “deceptive acts or practices” is likewise not discussed in this letter.

5See H.R. Conf. Rep. No. 1142, 63d Cong., 2d Sess., at 19 (1914) (If Congress “were to adopt the method of definition, it would undertake an endless task”). In 1914 the statute was phrased only in terms of “unfair methods of competition,” and the reference to “unfair acts or practices” was not added until the Wheeler-Lee Amendment in 1938. The initial language was still understood as reaching most of the conduct now characterized as consumer unfairness, however, and so the original legislative history remains relevant to the construction of that part of the statute.

6The Supreme Court has stated on many occasions that the definition of “unfairness” is ultimately one for judicial determination. See, e.g., FTC v. Sperry & Hutchinson Co., 405 U.S. 233, 249 (1972); FTC v. R..F. Keppel & Bro.,291 U.S. 304, 314 (1934).

7FTC v. Raladam Co., 283 U.S. 643, 648 (1931). See also FTC v. R.F. Keppel & Bro., 291 U.S. 304, 310 (1934) (“Neither the language nor the history of the Act suggests that Congress intended to confine the forbidden methods to fixed and unyielding categories”).

8The Commission’s actual statement of the criteria was as follows:

(1) whether the practice, without necessarily having been previously considered unlawful, offends public policy as it has been established by statutes, the common law, or otherwise-whether, in other words, it is within at least the penumbra of some common- law, statutory, or other established concept of unfairness; (2) whether it is immoral, unethical, oppressive, or unscrupulous; (3) whether it causes substantial injury to consumers (or competitors or other businessmen).

Statement of Basis and Purpose, Unfair or Deceptive Advertising and Labeling of Cigarettes in Relation to the Health Hazards of Smoking, 29 Fed. Reg. 8324, 8355 (1964).

9FTC v. Sperry & Hutchinson C.., 405 U.S. 223, 244-45 n.5 (1972). The Circuit Courts have concluded that this quotation reflected the Supreme Court’s own views. See Spiegel, Inc. v. FTC, 540 F.2d 287, 293 n.8 (7th Cir. 1976);Heater v. FTC, 503 F.2d 321, 323 (9th Cir. 1974). The application of these factors to antitrust matters is beyond the scope of this letter.

10These standards for unfairness are generally applicable to both advertising and non-advertising cases.

1183 Cong. Rec. 3255 (1938) (remarks of Senator Wheeler).

12An injury may be sufficiently substantial, however, if it does a small harm to a large number of people, or if it raises a significant risk of concrete harm.

13See, e.g., Holland Furnace Co. v. FTC, 295 F.2d 302 (7th Cir. 1961) (seller’s servicemen dismantled home furnaces and then refused to reassemble them until the consumers had agreed to buy services or replacement parts).

14Statement of Basis and Purpose, Preservation of Consumers’ Claims and Defenses, 40 Fed. Reg. 53,506, 53522-23 (1975).

15For an example see Philip Morris, Inc., 82 F.T.C. 16 (1973) (respondent had distributed free-sample razor blades in such a way that they could come into the hands of small children) (consent agreement). Of course, if matters involving health and safety are within the primary jurisdiction of some other agency, Commission action might not be appropriate.

16See, e.g., comments of Association of National Advertisers, Committee Print at 120. In an extreme case, however, where tangible injury could be clearly demonstrated, emotional effects might possibly be considered as the basis for a finding of unfairness. Cf. 15 U.S.C. 1692 et seq. (Fair Debt Collection Practices Act) (banning, eg., harassing late-night telephone calls).

17See Pftzer, Inc., 81 F.T.C. 23, 62-63 n. 13 (1972); Statement of Basis and Purpose, Disclosure Requirements and Prohibitions Concerning Franchising and Business Opportunity Ventures, 43 Fed. Reg. 59614, 59636 n.95 (1978).

When making this determination the Commission may refer to existing public policies for help in ascertaining the existence of consumer injury and the relative weights that should be assigned to various costs and benefits. The role of public policy in unfairness determinations will be discussed more generally below.

18For example, when the Commission promulgated the Holder Rule it anticipated an overall lowering of economic costs to society because the rule gave creditors the incentive to police sellers, thus increasing the likelihood that those selling defective goods or services would either improve their practices or leave the marketplace when they could not obtain financing. These benefits, in the Commission’s judgment, outweighed any costs to creditors and sellers occasioned by the rule. See Statement of Basis and Purpose, Preservation of Consumers’ Claims and Defenses, 40 Fed. Reg. 53506, 53522-23 (1975).

19In some senses any injury can be avoided–for example, by hiring independent experts to test all products in advance, or by private legal actions for damages-but these courses may be too expensive to be practicable for individual consumers to pursue.

20This emphasis on informed consumer choice has commonly been adopted in other statutes as well. See, e.g.,Declaration of Policy, Fair Packaging and Labeling Act, 15 U.S.C. 1451 (“Informed consumers are essential to the fair and efficient functioning of a free market economy”.)

21See, e.g., Statement of Basis and Purpose, Labeling and Advertising of Home Insulation, 44 Fed. Reg. 50218, 50222-23 (1979); Statement of Basis and Purpose, Posting of Minimum Octane Numbers on Gasoline Dispensing Pumps, 36 Fed. Reg. 23871,23882 (1971). See also Virginia State Board of Pharmacy v. Virginia Citizens Consumer Council, Inc., 425 U.S. 748 (1976).

22See Holland Furnace Co. v. ETC, 295 F.2d 302 (7th Cir. 1961); cf Arthur Murray Studio, Inc. v. EW, 458 F.2d 622 (5th Cir. 1972) (emotional high-pressure sales tactics, using teams of salesmen who refused to let the customer leave the room until a contract was signed). See also Statement of Basis and Purpose, Cooling-Off Period for Door-to-Door Sales, 37 Fed. Reg. 22934, 22937-38 (1972).

23See, e.g., Travel King, Inc., 86 F.T.C. 715, 774 (1975). The practices in this rase primarily involved deception, but the Commission noted the special susceptibilities of such patients as one reason for banning the ads entirely rather than relying on the remedy of fuller disclosure. The Commission recognizes that “undue influence” in advertising and promotion is difficult to define, and therefore exercises its authority here only with respect to substantial coercive-like practices and significant consumer injury.

24These few examples are not exhaustive, but the general direction they illustrate is clear. As the Commission stated in promulgating its Eyeglasses Rule, the inquiry should begin, at least, by asking “whether the acts or practices at issue inhibit the functioning of the competitive market and whether consumers are harmed thereby.” Statement of Basis and Purpose, Advertising of 0phthalmic Goods and Services, 43 Fed. Reg. 23992,24001 (1978).

25See Statement of Basis and Purpose, Advertising of ophthalmic Goods and Services, 43 Fed. Reg. 23992,24001 (1978), citing Virginia State Board of Pharmacy v. Virginia Citizens Consumer Council, 425 U.S. 748 (1976).

26Cf. Statement of Basis and Purpose, Advertising of ophthalmic Goods and Services, supra; see also n.17 supra.

27The analysis of external public policies is extremely valuable but not always definitive. The legislative history of Section 5 recognizes that new forms of unfair business practices may arise which, at the time of the Commission’s involvement, have not yet been generally proscribed. See page 4, supra. Thus a review of public policies established independently of Commission action may not be conclusive in determining whether the challenged practices should be prohibited or otherwise restricted. At the same time, however, we emphasize the importance of examining public policies, since a thorough analysis can serve as an important check on the overall reasonableness of the Commission’s actions.

28Spiegel, Inc. v. FTC, 540 F.2d 287 (7th Cir. 1976). In this case the Commission did inquire into the extent of the resulting consumer injury, but under the rationale involved it presumably need not have done so. See also FTC v. R.F. Keppel & Bro., 291 U.S. 304 (1934) (firm had gained a marketing advantage by selling goods through a lottery technique that violated state gambling policies); cf. Simeon Management Corp., 87 F.T.C. 1184, 1231 (1976), aff’d, 579 F.2d 1137 (9th Cir. 1978) (firm advertised weight-loss program that used a drug which could not itself be advertised under FDA regulations) (alternative ground). Since these public-policy cases are based on legislative determinations, rather than on a judgment within the Commission’s area of special economic expertise, it is appropriate that they can reach a relatively wider range of consumer injuries than just those associated with impaired consumer choice.

29A surplus occurs when a repossessed car is resold for more than the amount owed by the debtor plus the expenses of repossession and resale. The law of 49 states requires that creditors refund surpluses when they occur, but if creditors systematically refuse to honor this obligation, consumers have no practical way to discover that they have been deprived of money to which they are entitled. See Ford Motor Co., 94 F.T.C. 564, 618 (1979)appeal pending, Nos. 79-7649 and 79-7654 (9th Cir.); Ford Motor Co.,93 F.T.C. 402 (1979) (consent decree);General Motors Corp., D. 9074 (Feb., 1980) (consent decree). By these latter two consent agreements the Commission, because of its unfairness jurisdiction, has been able to secure more than $2 million for consumers allegedly deprived of surpluses to which they were entitled.

30See Letter from John F. Dugan, Acting Secretary, to Action on Smoking and Health (January 13, 1977). See also letter from Charles A. Tobin, Secretary, to Prof. Page and Mr. Young (September 17,1973) (denying petition to exercise § 6(b) subpoena powers to obtain consumer complaint information from cosmetic fu-ms and then to transmit the data to FDA for that agency’s enforcement purposes).

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Term Definition
ACV Actual Cash Value of a trade-in.
Back-End Profit generated from a car deal other than the amount between dealers cost and the selling price.  Usually from Financing.
Be-Back-Bus Describing an imaginary vehicle that will magically deliver all the customers that promised they would be back.
Be-Backs A customer that promises the salesperson that they will be back.
Bubble A purposely low price or payment given to a customer to prevent the customer from buying elsewhere.
Builder A vehicle in very poor condition.
Bump When a customer increases their offer during the negotiation.
Buried Describes a customer who owes far more than their trade-in vehicle is worth.
Butter-Nose The act of convincing a customer to keep his trade while still buying a new car.
Closer An experienced salesperson that is brought in to complete the negotiation.
Cream-Puff A vehicle in excellent condition.
CSI “Customer Satisfaction Index”. A dealership and salesperson rating system measuring the customers buying experience.
Curbing When a salesperson is selling cars outside of the dealership in which they are employed. Often by negotiating secretly with the customers they meet at the dealership.
Desk The sales manger.
Ether The customers excitement of a new car purchase.
F&I “Finance and Insurance” the department that arranges the financing and signs the paperwork.
Finance-Reserve Profit made by the car dealer when they charge the customer a higher rate or a leasing money-factor.
Front-End Profit made from the sale of a vehicle that is base on the vehicle cost.
Gold-Balls Describing a customer with excellent credit.
Green-Pea A new inexperienced salesperson.
 

Gypsy A wholesaler that buys used cars from a dealership.
Hanger-Queen Describes “burnt-out” salesperson that rarely talks to customers.
Hanging-Paper When the dealership (usually the F&I manager) convinces a bank to finance a customer with marginal credit.
Jick Describing a salesperson or customer that is untruthful.
Killing-Bugs Described a vehicle that is sold.
Kink Salesperson that steals deals from their colleagues.
LA&H Life, Accident and Health Insurance.
Lay-down An easy customer that pays full price.
Leg Amount of money in a monthly payment over the agreed upon purchase price that allows the “F&I” department to increase their profit.
Liner A Salesman,  “on the front lines”
Mini Minimum commission that is paid to the salesperson when there isn’t enough profit in the deal to pay a percentage.
Monroney The window sticker produced by the factory on a new car.  Named after Senator Mike  Monroney who sponsored legislation in 1958 requiring discloser of content, mileage and options on a new car’s price sticker.
Mooch A customer that makes unreasonable offers.
Mop-and-Glow Refers to a paint sealant that is sold as an accessory.
Mouse-House A secondary finance source usually at a high interest rate used to borrow additional money for a down payment.
Nickel Five Hundred Dollars.
Pack Amount a dealer adds to their invoice cost.
Pencil A written counter offer from the sales manager.
Phone-Pop An incoming sales phone call.
Play-House-90 When the salesman is acting. Like when a salesperson pretends to have a difficult time convincing the Sales Manager to discount a car.
Term Definition
Point Describes a good location at the dealership for salesmen to meet customers.
Pounder Represents a $1000 in profit. A “two-pounder” is $2000, Etc.
Rat Describes a vehicle in poor condition.
Roach A customer with bad credit.
Roasted-the-app The act of changing the customer’s information on their credit application to make it more favorable to the lender.  Also, can mean to critique the application with the customer to improve the “closing” environment.
Second-Baseman A person that helps a customer negotiate the deal.
Sideways Describes a customer reversing  their commitment to purchase a car.
Skate When a salesman steals another salesman’s customer.
Sled A vehicle in poor condition.
Slide-Rule A cautious customer that constantly double checks the pricing during the negotiation and does extensive research.
Sneakers Tires.
Spiff Extra bonus paid to a salesperson.
Spoon A free deal given to a salesperson from the sales manager
Stroke A customer that wastes time visiting a dealership with no plan of buying a car.
Strong Describes a skilled salesperson.
tripped Reported the vehicle as sold to the factory and DMV.
Trunk-money Describes factor to dealer incentives that are not advertised to the buyer.  Because they are not known to the customer, they are “hidden in the trunk”.
Turn When a salesman introduces the customer to another salesman. Usually occurs when original the salesman is unable to sell a car.
Under-Allowance When a dealer tells the customer their trade-in is worth less than it’s actual cash value.
Up A customer. Or to meet a customer
Uped To greet a customer.
Upped The act of meeting a customer for the first time.
Ups Customers.
Upside-Down Negative equity in a car.
Walk-Around The act of demonstrating the features of a vehicle as you “walk around” the car
Wash-Out-Check Commission check paid at the end of the month.
Weak Describes an ineffective salesperson.
Whiskers Describes a car that has been the the dealer’s inventory for a long time.
Wrench A Service technician or repairman.
Wrinkle Dent or body damage on a vehilce.
Write-Up The document and technique used to produce an offer from a customer.

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will the beepi disruptuve technology $ 65M gamble payoff for redpoint ??

By, Krunal Barabde

As we are approaching the middle of the Fall 2014 semester, most of the MBA students who will be completing their basic credits at the end of current semester are remembering Hamlet’s opening phrase “to be or not to be” shall we opt for graduation in December 2014 or extend to May 2015, because most of the International students are still in job search mode.

However, some students have different dreams such as Alejandro Resnik a 31 year old Argentinean, an MBA from MIT Sloan School of Management 2013 batch, has completed Engineering from ITBA (Argentina) and Owen Savir not much known about him except an important fact that he is a Stanford MBA 2013 batch. On April 15 2014 in Silicon Valley Bay Area together, they launched a startup called ‘Beepi’. Beepi provides end-to-end services in car selling and buying business and connects buyers and sellers of cars[i]  using Peer-to-Peer (P2P) online platform.

The inception of idea came when Alejandro and his wife bought a Jeep and later were in disagreement with their decision[ii] Alejandro spoke about this problem to his angel investor friend Fabrice Grinda, who later introduced him Owen Savir.  Both calibrated that if “internet of everything is changing everything” then why not car buying and selling. This led the seed for Beepi’s business model.

Beepi starts the work right by inspecting & certifying car by a Beepi inspector, taking & uploading photos, and listing the car on the website from the sellers point. A buyer has to check the listings on the website, select car of his choice and make payment (Complete Paperwork including DMV Registration, Car Wash and Wax, Full Gas Tank, Delivery charges), and the car will be delivered to the doorstep. Beepi provides guarantee to both buyer and seller; for seller the car will be sold in 30 days and for buyer 10-day money back guarantee. Additionally, Beepi provides 3 months/3000 mile full service and warranty parts[iii].

Beepi, provides convenient options of financing (Loan), bitcoin payment, and reserve the car for 48 hours by placing some deposit amount, if doesn’t want to buy the car after 48 hours deposit will be refunded. Beepi identifies important questions in the purview of a buyer and has all the answers, before one can proceed to purchase. The websites lists complete history of the vehicle in the form of Auto Check Printable report, which includes all details of the vehicle such as odometer readings, accident check, title and problem check, Vin Number. The price listed includes all the services so there are no hidden charges; to improve transparency Beepi connects you to edmounds.com to verify market rate for the same car. Beepi also provides detailed external inspection reports of dents and bruises on the car body making it easy for a user to imagine the real picture of the car.

Since Beepi is in a service based industry it has clear emphasis on customer intimacy. In order to build customer relationship and answer all possible doubts of the buyers Beepi introduces ‘Beepi Inspector’. Additionally they provide online chat and call help. Since, it is new way of services offered in the industry, Beepi is making conscious efforts to educate their customers, by providing an option of learning more on the website and provide testimonials, backseat blog where owners explain the business model in a subtle way. Beepi also has a young and diverse team, and emphasizes the importance of front line Beepi inspectors who are the first form of interaction with clients.

Courtesy: https://www.facebook.com/beepihq/photos/a.508437672576411.1073741826.507463632673815/668766273210216/?type=1&theater

Beepi’s marketing strategy is very clear ‘to change the car buying and selling experience’. Make car buying selling simple, fast and fun experience end to end[iv]. Beepi provides convenience, transparency and hedges the risk in the market. At present Beepi’s target market are millennials  in age of 20’s and 30’s in California Bay Area and with Beepi Prime they have expanded market to 140 cities in Nevada, Arizona, and Oregon[v]. Beepi Prime charges $999 for delivering the vehicle in 5 days to door step, using their own transportation system which charges lower than market rate.

Beepi’s team has put considerable efforts on brand building and has featured on most of the important news channels and news website to create awareness amongst users; they are creating awareness through social media (FB,Twitter and Linkedin). However, so far their reach has been considering the number of followers on the social media. Beepi differentiates itself from competitors on price, assurance, convenience, and end-to-end services; Beepi’s main competitors are traditional car dealers and craigslist.

In a location (Bay Area) where startups are like popcorns, securing funding can be a challenge, but Alejandro must have had advantage in securing funding because of his experience of working as an angel investor with Fabrice Grinda (Co-Founder of OLX). Beepi Secured $5M Series A Funding in April 2014(Is the first significant funding in silicon valley model of startup-name refers to class of preferred stock sold to the investors for their investment[vi])from investors including Redpoint Ventures, Silicon Valley bank, Jose Marin, Rick Boyle, Fabrice Grinda, Tina Sharkey and Jeff Brody. Beepi has recently raised $60M in funding from Venture Capital firms that have also invested in Uber[vii]. This funding will help Beepi to go mobile and increasing its reach to its target customer and improving on the quotient of fun on buying and selling cars on-line. Beepi is today valued at $200M starting just 6 months back[viii].

If Beepi gives everything, how does it make money to be valued so high? Here is the answer – Beepi makes approx 9% on each transaction, which 80% less than traditional dealer charges. Beepi saves cost on overheads such as administrative costs, space and human resources. From April to September 2014 Beepi had achieved revenue run rate of $10M.

SWOT Analysis of Beepi

 

Courtesy: Krunal Barabde

Views of T-Birds on the Startup:

Adriano Caccamo: “I’d love to see some video reference of people that used their services on their website. There should be a video showing very closely all particulars of the cars on sale, but there are only pictures from a little far. I’d sell a car through them! I’d buy only if they offer some guarantees and if I can test it before buying it. Great Idea”

Abhijeet Joshi: “Questions their financial growth in the market which is very price sensitive. However, endorses their guarantee-based policy as very useful in consumer perspective”

Scott Grindle: “Beepi.com demonstrates both a clear service gap in a homogeneous market space and an ingeniously simple repositioning strategy. The question is, can they really change consumer habits; will they convince people to buy a car without seeing/driving it first? “

Jakub Marciniak: “I believe that the business model yields a lot of costs that need to be amortized by volume (e.g. the technicians need to be paid and motivated to be accurate in their evaluation of a car). The largest challenge in my opinion is to reach a critical mass that trusts the business model of buying a car without a test drive. Trust is the main part of a business. I analyzed the website and I am not clear about certain pitfalls that could backfire (e.g. what is “damage”? How is mileage handled if you drive over 1,000 miles in 10 days? …)

If you go to a used car dealer – do you trust him/her immediately?

Now imagine that you don’t even touch the car. Would you buy it?

Transparency in marketing is key to Beepi’s success. Good press is crucial. Leaks in the business processes are deadly.

 

I understand that the huge advantage is that cars can be bought, sold and shipped all over the US in little time and that the concept is portable and thus, globally applicable. But I am skeptical by nature because the amounts that are transferred are vital to some people (buying or selling a car is a major decision compared to buying or selling a new phone).

 

I would like to know more about how the technicians are selected, a general deconstruction of the fees that are applicable (and WHEN they occur!), a calculated example of a transaction (from seller to buyer and how Beepi makes money) and reviews from trusted sources”

 

If Beepi is successful, it will endorse the fact that “internet of everything is changing everything” so is customer purchase behavior. We would like to see more inspired business ideas and entrepreneurship initiatives, which will truly change the business in future.

 

 

 

Disclaimer: The article represents writer’s personal views and no affiliation with Das Tor any assumptions are based on the educated guess.



[i] http://en.wikipedia.org/wiki/Beepi

[ii] http://en.wikipedia.org/wiki/Beepi

[iii] http://startupbeat.com/2014/04/29/beepi-qa-id3769/

[iv] http://startupbeat.com/2014/04/29/beepi-qa-id3769/

[v] http://techcrunch.com/2014/09/05/beepi-prime/

[vi] http://en.wikipedia.org/wiki/Series_A_round

[vii] http://online.wsj.com/articles/beepi-raises-60-million-to-sell-used-cars-to-smartphone-generation-1412738102

[viii] http://online.wsj.com/articles/beepi-raises-60-million-to-sell-used-cars-to-smartphone-generation-1412738102

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Car Dealer Bond FAQ…

What is a dealer bond?

The car dealer bond protects your customers against fraudulent or unethical actions by a dealer. The bond assures the dealer is financially secure in cases where a customer is cheated by a dealer. The DMV and flooring company can also make claims against this dealer bond.

Can I make a down payment and then pay monthly for the dealer bond?

Absolutely!

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Ask about our 30% down payment option.

All surety bond carriers ask for payment of the bond in full,

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has set up a financing program to give

California dealers access to a payment plan for their DMV bond.

The DMV needs the OL-25 form signed – what is this and where do I get it?

The OL 25 is your surety dealer bond.

The original bond that will be sent from your bond carrier will meet this requirement.

How long does it take to receive the initial dealer bond quote?

Approximately 24 hours,

unless your FICO score is below 650.

Then the process usually takes 2 days.

How long does it take to receive the

originally-signed dealer bond needed to obtain my license?

From the time we receive your payment,

it’s typically a week to 10 days

before your receive your bond in hand

depending on where you are located in the country.

We’ve invested in check-by-fax and check-by-email to help expedite our service.

What if I have had some credit issues (bankruptcies, short-sales, foreclosures, etc.)

Most dealers these days have encountered credit issues of some sort.

We have the most competitive surety carriers for all credit levels

so no worries if your credit is less than perfect!

I started with a $10,000 bond because I am a wholesale dealer

and thought I would sell 24 vehicles or less per year.

Will the surety company increase the limit of my bond from $10,000 to $50,000

for additional premium if I will

sell 25 or more cars or I want to retail or auto broker?

Unfortunately not. Once your DMV inspector accepts your bond

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issues your dealer license,

the surety company will not make any refunds whatsoever.

The $10,000 bond would have to be canceled and a $50,000 bond

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Can I pay with a credit card?

You sure can.

For your convenience, we accept Visa, Mastercard, Discover, and American Express.

A standard convenience charge of 5% will be applied.

While we hope you don’t need to incur this additional expense,

some of our customers have found this option extremely helpful.

More Important Info

about Your Car Dealer Bond…

RIDER Process: needing a rider can be very frustrating if it’s only needed because your app was incomplete or something was incorrect. One of most common reasons for a rider that we see is the dealer forgot to put his middle name on the app. The cost is $100 and having to go through this process will add on 2 – 3 weeks to the time before you can be licensed. We are here to help and would rather spend 10 minutes answering your questions to provide you with the best possible experience with respects to your bond acquisition.

The two (2) most time-consuming steps of the car dealer licensing process are:

  • getting the LiveScan fingerprints into the Department of Justice system. This takes about 45 days and costs about $70; and
  • forming a corp. or LLC (if applicable). This also takes about 45 – 60 days, although the Secretary of State offers an expedited service for about $375 vs. about $100.

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To remain competitive in the used car marketplace you need to have an online presence. We make it easy to do so. Get a dealer website, put your cars online, spread the word about who you are and what you sell.

DEALER WEBSITE DESIGN AND CUSTOMIZATION
Our out of the box dealer website solution requires absolutely no work on your part and appropriate customizations are handled by our staff. For dealers that want to dig a little deeper and get more involved, your dealer site is customizable by you with just a few clicks. The site style, the content, the header design, the cars that rotate and appear in the header, the background colors, the keywords, the page descriptions, the page titles, the search engine optimization – it’s all in your hands if you want to take the reins. If not, it’s taken care of for you by our staff.

ADDING INVENTORY
You can load your inventory into Dealer Jump by deocding each VIN and clicking 1 button to add up to 100 pictures from your computer. Before you know it you’ll start gaining visibility online, generating more traffic, talking to more leads, and selling more cars!

It’s no surprise that auto dealers with a dealer website sell more vehicles than their competition without one. As a dealer you need to promote your business by displaying your vehicle inventory online. You’ll reach people you never knew were your customers and you’ll gain business credibility. We’ll provide you with a cutting edge design for your dealership that encourages customer interaction.

Summary of our dealer website offering:
  • Clean, easy navigation so users can browse your inventory and find the car they’re looking for
  • Phone number present on every page so site visitors can call you easily
  • A contact form on each vehicle page so site visitors can write to you with inquiries because not every person wants to pick up the phone. Sometimes it’s easier to just type a simple question and click SEND.
  • Clear display of the vehicles in your inventory with pictures and other pertinent details.
  • A location map so site visitors can figure out how to get to your lot and visit you in-person if they like what they see online
  • Search engine optimized pages that get indexed and organically placed in the search results of the majr search engines
  • Load dozens of pictures from your camera or computer (max 100) for each vehicle with 1 click
  • Decode the VIN of your vehicles and load them on your website in seconds.
  • Be up and running, live and online within a couple days.
  • We buy your domain name and provide the hosting
  • We provide you with a real email address that ends in your domain so you can look more credible and professional. Instead of a yahoo, gmail, hotmail, live, msn or other free email account, you can gain credibility with an e-mail address that is a part of your web domain (i.e. sales@americasbestusedcars.com)

Every dealer has a competitive advantage and a reason or two why the consumer should spend money in their dealership and not the other dealers down the block, but remember that no matter how many reasons you give your customer to buy a car from you, consumers have choices. There is great value in a customer having a good experience with you both online and in-person. So get started with a website for your auto dealership and get yourself out there. Make in impact. Showcase your inventory. Get more leads and sell more cars.

The sites we design for dealers are to-the-point and get the job done. Dealers all over the United States are enjoying using our dealer websites. Each site is designed to engage your customer and to convert them from just a website visitor into a web lead. You’ll have site visitors writing to you and calling you

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El Tio Auto Sales

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used car dealers offering financing must comply with the red flag rule

FTC Guide for Red Flag Rule

+++

HOW TO COMPLY: A FOUR-STEP PROCESS

Many companies already have plans and policies to combat identity theft and related fraud. If that’s the case for your business, you’re already on your way to full compliance.

1. Identify Relevant Red Flags

What are “red flags”? They’re the potential patterns, practices, or specific activities indicating the possibility of identity theft.9 Consider:

Risk Factors. Different types of accounts pose different kinds of risk. For example, red flags for deposit accounts may differ from red flags for credit accounts, and those for consumer accounts may differ from those for business accounts. When you are identifying key red flags, think about the types of accounts you offer or maintain; the ways you open covered accounts; how you provide access to those accounts; and what you know about identity theft in your business.

Sources of Red Flags. Consider other sources of information, including the experience of other members of your industry. Technology and criminal techniques change constantly, so it’s important to keep up-to-date on new threats.

Categories of Common Red Flags. Supplement A to the Red Flags Rule lists specific categories of warning signs to consider including in your program. The examples here are one way to think about relevant red flags in the context of your own business.

  • Alerts, Notifications, and Warnings from a Credit Reporting Company. Changes in a credit report or a consumer’s credit activity might signal identity theft:
    • a fraud or active duty alert on a credit report
    • a notice of credit freeze in response to a request for a credit report
    • a notice of address discrepancy provided by a credit reporting company
    • a credit report indicating a pattern inconsistent with the person’s history B for example, an increase in the volume of inquiries or the use of credit, especially on new accounts; an unusual number of recently established credit relationships; or an account that was closed because of an abuse of account privileges
  • Suspicious Documents. Documents can offer hints of identity theft:
    • identification looks altered or forged
    • the person presenting the identification doesn’t look like the photo or match the physical description
    • information on the identification differs from what the person with identification is telling you or doesn’t match a signature card or recent check
    • an application looks like it’s been altered, forged, or torn up and reassembled
  • Personal Identifying Information. Personal identifying information can indicate identity theft:
    • inconsistencies with what you know — for example, an address that doesn’t match the credit report or the use of a Social Security number that’s listed on the Social Security Administration Death Master File
    • inconsistencies in the information a customer has submitted to you
    • an address, phone number, or other personal information already used on an account you know to be fraudulent
    • a bogus address, an address for a mail drop or prison, a phone number that’s invalid, or one that’s associated with a pager or answering service
    • a Social Security number used by someone else opening an account
    • an address or telephone number used by several people opening accounts
    • a person who omits required information on an application and doesn’t respond to notices that the application is incomplete
    • a person who can’t provide authenticating information beyond what’s generally available from a wallet or credit report — for example, someone who can’t answer a challenge question
  • Account Activity. How the account is being used can be a tip-off to identity theft:
    • shortly after you’re notified of a change of address, you’re asked for new or additional credit cards, or to add users to the account
    • a new account used in ways associated with fraud — for example, the customer doesn’t make the first payment, or makes only an initial payment; or most of the available credit is used for cash advances or for jewelry, electronics, or other merchandise easily convertible to cash
    • an account used outside of established patterns — for example, nonpayment when there’s no history of missed payments, a big increase in the use of available credit, or a major change in buying or spending patterns or electronic fund transfers
    • an account that is inactive is used again
    • mail sent to the customer that is returned repeatedly as undeliverable although transactions continue to be conducted on the account
    • information that the customer isn’t receiving an account statement by mail or email
    • information about unauthorized charges on the account
  • Notice from Other Sources. A customer, a victim of identity theft, a law enforcement authority, or someone else may be trying to tell you that an account has been opened or used fraudulently.

2. Detect Red Flags

Sometimes, using identity verification and authentication methods can help you detect red flags. Consider whether your procedures should differ if an identity verification or authentication is taking place in person, by telephone, mail, or online.

  • New accounts. When verifying the identity of the person who is opening a new account, reasonable procedures may include getting a name, address, and identification number and, for in-person verification, checking a current government-issued identification card, like a driver’s license or passport. Depending on the circumstances, you may want to compare that to information you can find out from other sources, like a credit reporting company or data broker, or the Social Security Number Death Master File.10 Asking questions based on information from other sources can be a helpful way to verify someone’s identity.
  • Existing accounts. To detect red flags for existing accounts, your program may include reasonable procedures to confirm the identity of the person you’re dealing with, to monitor transactions, and to verify the validity of change-of-address requests. For online authentication, consider the Federal Financial Institutions Examination Council’s guidance on authentication as a starting point.11 It explores the application of multi-factor authentication techniques in high-risk environments, including using passwords, PINs, smart cards, tokens, and biometric identification. Certain types of personal information — like a Social Security number, date of birth, mother’s maiden name, or mailing address — are not reliable authenticators because they’re so easily accessible.

You may be using programs to monitor transactions, identify behavior that indicates the possibility of fraud and identity theft, or validate changes of address. If so, incorporate these tools into your program.

3. Prevent And Mitigate Identity Theft

When you spot a red flag, be prepared to respond appropriately. Your response will depend on the degree of risk posed. It may need to accommodate other legal obligations, like laws about providing and terminating service.

The Guidelines in the Red Flags Rule offer examples of some appropriate responses, including:

  • monitoring a covered account for evidence of identity theft
  • contacting the customer
  • changing passwords, security codes, or other ways to access a covered account
  • closing an existing account
  • reopening an account with a new account number
  • not opening a new account
  • not trying to collect on an account or not selling an account to a debt collector
  • notifying law enforcement
  • determining that no response is warranted under the particular circumstances

The facts of a particular case may warrant using one of these options, several of them, or another response altogether. Consider whether any aggravating factors raise the risk of identity theft. For example, a recent breach that resulted in unauthorized access to a customer’s account records would call for a stepped-up response because the risk of identity theft rises, too.

4. Update The Program

The Rule recognizes that new red flags emerge as technology changes or identity thieves change their tactics, and requires periodic updates to your program. Factor in your own experience with identity theft; changes in how identity thieves operate; new methods to detect, prevent, and mitigate identity theft; changes in the accounts you offer; and changes in your business, like mergers, acquisitions, alliances, joint ventures, and arrangements with service providers.

Administering Your Program

Your Board of Directors — or an appropriate committee of the Board — must approve your initial plan.  If you don’t have a board, someone in senior management must approve it.  The Board may oversee, develop, implement, and administer the program — or it may designate a senior employee to do the job. Responsibilities include assigning specific responsibility for the program’s implementation, reviewing staff reports about compliance with the Rule, and approving important changes to your program.

The Rule requires that you train relevant staff only as “necessary.” Staff who have taken fraud prevention training may not need to be re-trained. Remember that employees at many levels of your organization can play a key role in identity theft deterrence and detection.

In administering your program, monitor the activities of your service providers. If they’re conducting activities covered by the Rule — for example, opening or managing accounts, billing customers, providing customer service, or collecting debts — they must apply the same standards you would if you were performing the tasks yourself. One way to make sure your service providers are taking reasonable steps is to add a provision to your contracts that they have procedures in place to detect red flags and either report them to you or respond appropriately to prevent or mitigate the crime. Other ways to monitor your service providers include giving them a copy of your program, reviewing the red flag policies, or requiring periodic reports about red flags they have detected and their response.

It’s likely that service providers offer the same services to a number of client companies. As a result, the Guidelines are flexible about service providers using their own programs as long as they meet the requirements of the Rule.

The person responsible for your program should report at least annually to your Board of Directors or a designated senior manager. The report should evaluate how effective your program has been in addressing the risk of identity theft; how you’re monitoring the practices of your service providers; significant incidents of identity theft and your response; and recommendations for major changes to the program.12

FTC Resources

Identity Theft
ftc.gov/idtheft

+++

@beepi

@instamotor

@trycarlypso

@carkibo

@shift_cars

all offer financing for buyers of used cars in their sales model

+++

have they each published the required ITPP for red flag rule compliance ??

+++

dmv certified car dealer education

since 1998

based in san francisco

gotplates.com

800-901-5950

+++

gotlicense1

bondpotofgold

redstar

cheat the government…..go to prison

Prison Time For Two Car Dealership Owners Convicted For Bank Fraud

October 01, 2013

A joint investigation including DMV and DOJ

Two Modesto brothers, owners of several car dealerships in Stanislaus and Merced Counties, are heading to prison for more than four years each as a result of their conviction for conspiring to commit bank fraud.

“These men, along with several of their employees falsified the information of potential car buyers in order for the potential buyers to acquire financing,” said Alan Barcelona, president of the California Statewide Law Enforcement Association (CSLEA).  “Our CSLEA members who are investigators with the Department of Motor Vehicles (DMV) and special agents with the Department of Justice (DOJ) investigate these types of crimes in which unscrupulous people put their own financial gain over the law and over unsuspecting consumers who would not have qualified for loans in the first place.”

Together, the FBI, DOJ and DMV Investigations Division conducted a lengthy investigation into the actions of Abdel Jawad, aka Fred Jawad, 38,  and his brother Abdul Jawad, aka Manny Jawad, 39.

The two men  were found guilty after a three-day trial by a federal jury in January 2013. According to evidence presented at trial, the Jawad brothers owned and operated various used automobile dealerships including Own-A-Car, The Auto Store, and Auction 2 U in Modesto. Employees of the dealerships would help  customers to find a vehicle to purchase. Many of the  customers, however, were unable to qualify for a vehicle loan.   The Jawads, and others acting at their direction and on their behalf, conspired to assist the customers in preparing misleading and false financial information for submission to a financial institution in order to obtain financing.

In some instances the defendants conspired to enter fictitious information on loan applications including the names of employers for whom the customers did not work, or, if the customers were employed, inflated earnings amounts. Some of the customers signed these loan applications, while others had no knowledge of how their signatures appeared on the applications.

Because of the defendants’ conduct, financial institutions approved loans to customers who otherwise should not have received financing. As customers were approved for loans, the dealerships received the money as payment for the purchased vehicles.

The two Jawad brothers were sentenced to prison for more than four years each  and ordered to pay approximately $601,000 in restitution to the victims of their fraud.  The pair were ordered to surrender on November 18, 2013 to begin serving their sentences.

Three other defendants in this case have been sentenced after pleading guilty. Armando Fathic Abdallah was sentenced March 4, 2013, to 18 months in prison. Hussein Ali was sentenced to 27 months in prison on March 18, 2013, and Husam Sarama was sentenced in February 19, 2013 to three months in prison.

just what is a certified used car ???

CPO stands for certified pre-owned

what does it legally require to be a certified pre-owned vehicle ???

in california since the passage of the car buyer bill of rights

any used car dealer can publish their certification details in their office

and proudly advertise their vehicles as certified used cars

the fine points of the certification advertisment

is entirely at the discrection of the used car dealer

YES, the certification should include a warranty

YES, prior history vehicles are excluded from certification

YES, any car dealer may advertise certified pre-owned vehicles

#realcardealerschool

gotplates.com

800-901-5950

autopia

got1

redstar

autobroker cartelligent guide to selling your car

Cartelligent has released its consumer guide to selling trade-in vehicles. The service, based in Sausalito, California and with branches in East Bay, Silicon Valley and Orange County helps thousands of people purchase cars each year across all manufacturers and help them get a great value for their current vehicle. Its team of professional car buyers has put together a guide to help consumers understand the steps they need to take to sell their car on their own.

While most people are excited by the prospect of driving home in a new car, they are typically less enthusiastic about their options on what to do with their current vehicle. One of the most common questions clients ask Cartelligent is what they should do in advance to get their trade-in ready and ensure they get a fair price with a minimum of effort and expense.

Cartelligent has compiled a list of guidelines and things for consumers to consider before selling their car to make sure that it’s in the right condition and they have everything ready to make the process go smoothly.

Paperwork:
Consumers should locate the following paperwork in advance of selling the vehicle:

  •     Vehicle Title: If they do not know where this is, they will need to request a duplicate copy from the DMV before they can sell the car. If they still have a loan or a lease on the vehicle, they should arrange to pay off the balance and request the title before they offer it for private sale.
  •     Vehicle Registration: They will need a current copy of the car’s registration. If this has expired, they will need to pay the next year’s registration and any outstanding late fees and/or penalties before they can sell it themselves.
  •     Smog-Inspection: It is the seller’s responsibility to get the car smog-inspected and ensure that it passes.
  •     Vehicle History Report: They can obtain a vehicle history report through CarFax for $39.99 to prove that the car has not been in any accidents.
  •     Bill of Sale: Bills of Sale are available from the DMW. Both seller and buyer should fill it out completely when the sale is final.

 

Market Research:
Cartelligent recommends taking the time to research the vehicle’s value so that the seller knows what to expect and can weigh the potential gain of investing additional funds in repairs prior to sale. Websites like KBB.com and NADA.com can help them estimate the value range for their make and model. It can also be a good idea to look at similar vehicles online to get a sense for the local market value. Be aware that the asking price is often higher than the actual price the car will sell for.

Aesthetics:
A thorough detailing can make the car look more attractive and can add perceived value. Potential buyers will perceive a clean car as a well maintained car and assume the rest of the vehicle is also in top condition. Additionally consumers may want to consider repairing minor cosmetic damage such as:

  •     Minor dings or other body damage
  •     Windshield cracks (these may be covered by their insurance)
  •     Minor scratches and paint repairs
  •     Missing hubcaps or scratched wheels
  •     Headlight or taillight bulbs that have burned out

It can be a good idea to get an estimate on the cost of more extensive damage or needed repairs and then decide if the potential resale value of these will offset their upfront costs.

 

Mechanics:
A mechanical check-up can let the seller know if there are any issues with the vehicle and give them an estimate as to what these will cost to repair. Cartelligent recommends that the following be taken care of:

  •     Windshield Wipers: Putting a new pair of windshield wipers on the vehicle tells potential buyers that the seller has looked after the little things and builds confidence that the car is in good condition.
  •     Tires: Ensure that tires are in new or good condition. Replacing worn tires can add value to the vehicle.
  •     Warning Lights: Cartelligent recommends repairing any underlying issues causing a lighted warning indicator before putting the car up for sale.
  •     Noises: Cartelligent also recommends repairing any mechanical problems that are causing the vehicle to make noises when driven such as suspension squeaks and belt noises.
  •     Safety: Cartelligent strongly advises that the seller repair any and all issues that could make the vehicle unsafe to drive such as faulty brakes, airbags or seatbelts.

 

Selling the Vehicle:
Once the vehicle is in good shape and it’s ready to put up for sale, consumers should consider the following:

  •     Ad Copy: Be as honest as possible in the body of the ad but use words that will be compelling to potential buyers and make them want to see the vehicle in person. Avoid abbreviations, first-person references to the vehicle and short-hand that may come across as unprofessional and detract from the perceived value.
  •     Photos: Take high-quality photos of the vehicle that will show it to its best advantage in the ad. Low quality camera phone photos can make the vehicle look less appealing to potential buyers.
  •     Online Ads: Cartelligent recommends the following best practices when selling a vehicle online.
  •     Consider using a disposable cell phone rather than providing a personal number.
  •     Find a public, well-lit place for test-drives and the financial exchange.
  •     Request a cashier’s check or cash for the final payment.

 

Once the sale has been finalized, the seller will want to inform the DMV that they are no longer financially or legally responsible for the vehicle. They can fill out a Notice of Transfer and Release of Liability form once the sale is complete – it’s important to follow up in a few weeks to ensure that this went through.

Selling a trade-in can be time-consuming and confusing. Consulting this guide can help ensure that the process goes as smoothly and as safely as possible.

We welcome inquiries about these tips or about car buying in general. To set up an interview with one of our experts, please contact Jessica Carstens at 415-339-4562 or email jcarstens(at)cartelligent(dot)com.

About Cartelligent: For over thirteen years, Cartelligent has connected car buyers with the new car they want, at the right price. Thousands of satisfied clients have saved time and money while avoiding the hassle of the traditional dealer experience by working with Cartelligent to help them enjoy the car buying experience like never before.

all vehicles for sale must have a buyers guide posted

the FTC used car rule

carries a whopping $ 16k fine per vehicle for non compliance

+++

how do the outlaw renegade used car dealers

@beepi

@instamotor

@trycarlypso

@shift_cars

@carkibo

plan to met this requirement ??

+++

we would be curious to hear their answer

+++

dmv certified car dealer education

gotplates.com

800-901-5950

+++

bondpotofgold

gotlicense1

redstar

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We are approved by the California DMV

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We have created a complete starter kit of dealer forms.

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We include retail car dealer sales forms from Reynolds & Reynolds

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car buyers insurance form

car dealer not for sale sticker

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We include dmv licensing & registration forms

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We include custom gotplates.com dealer education forms

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where to complain about used car startups ??

Where to Complain

Cheated by a used car startup?
Scammed over auto financing?
You have lots of company.
Year after year, auto dealers and auto sales rank #1 in consumer complaints to state and local consumer protection agencies and the Better Business Bureau. Usually, the agencies are so overwhelmed by complaints they don’t have enough resources or staff to handle them all.

The good news — consumers now have two new cops on the beat in Washington, DC who actually want to hear from you about your car-buying problems. Thanks to the Dodd-Frank Wall Street Reform law, the Federal Trade Commission and newly established Consumer Financial Protection Bureau have new authority to act, to protect consumers. Before, the FTC was preoccupied with home mortgage issues, identity theft, telemarketing abuses, and other types of scams. Now — for the first time in decades — it is making auto sales issues a priority.

If you were ripped off by an auto dealer, it’s very important to complain to the FTC. The Federal Trade Commission has jurisdiction over auto dealers, and can now issue rules to curb unfair and deceptive acts committed by auto dealers. If the FTC gets enough complaints from consumers, it may also take enforcement action, and target individual dealers who have a history of engaging in bad practices. Eventually, that may result in victims receiving restitution or other relief. The agency may also issue a new rule to prohibit the shady practices.

The more consumer complaints the FTC gets, the better. Consumer complaints are a HUGELY important factor in whether the agency decides to act.

Where to complain:

www.ftccomplaintassistant.gov

If you were scammed by a dealer who sells only used cars, at a smaller independent car lot, then it’s a good idea to also tell your story to the new Consumer Financial Protection Bureau. The CFPB has jurisdiction over so called “Buy-Here-Pay-Here” car lots, and they are eager to act. Like the FTC, they need to hear from consumers to be able to justify moving forward.

Where to complain to the Consumer Financial Protection Bureau:

help.consumerfinance.gov/app/vehicleconsumerloan/ask

Note: It may take months for either agency to act. So keep in mind that complaining to them is important, but not a substitute for getting legal advice and taking your own legal action. To find an attorney who is expert in winning against unscrupulous dealers or manufacturers, check out the “find an attorney” section at the National Association of Consumer Advocates, at

autopia

do we really want another uber for selling used cars ???

Beepi Raises $60 Million in Series B Funding to Fuel National Expansion

Peer-To-Peer Marketplace Transforming the Way People Buy and Sell Cars

Beepi, the leading peer-to-peer marketplace to seamlessly buy and sell cars online, today announced it has closed $60 million in Series B funding. In this round, Foundation Capital and SherpaVentures join existing investors Redpoint Ventures, SherpaFoundry CEO Tina Sharkey, OLX founder Fabrice Grinda, IG Expansion co-founder Jose Marin, Homeaway co-founder Brian Sharples, former Loopnet CEO Rich Boyle and Silicon Valley Bank. The new infusion of capital will allow Beepi to accelerate the growth and expansion of its platform, bringing seamless, hassle-free car buying and selling to consumers across the United States.

“Beepi is transforming the antiquated car industry. This investment will help us to continue to make significant strides to change how Americans are buying and selling cars, the most expensive purchase many people are making,” said Ale Resnik, CEO and co-founder of Beepi. “The past six months have shown us that there is a real demand to buy and sell cars 100% online and we’re excited for the next stage of growth for the company.”

This Series B funding comes on the heels of Beepi’s recent expansion into the Los Angeles market and the introduction of Beepi Prime – its exclusive, customized delivery service – in 140 U.S. cities. As part of its seamless financing experience, the company also offers prospective buyers immediate pre-approval for loans at check-out. Buyers can pay for any car in the Beepi marketplace with a bank transfer, cashier’s check, up to six different credit cards at once or even bitcoin.

“As early investors in Lending Club, we saw the power of marketplace lending to enable both sides of a financial transaction to win — for transparency and simplicity to make everyone better off. We are thrilled to back Beepi, which is reinventing another hundred year old industry with the world’s first high-trust, peer-to-peer, used car marketplace that when combined with compelling auto financing options has the potential to blow open a massive market opportunity hidden in plain sight,” said Steve Vassallo, General Partner at Foundation Capital, who will be joining Beepi’s board.

“Uber has shown that huge segments of the population are being reshaped by the on-demand economy. Much like Uber revolutionized personal transportation, Beepi is revolutionizing the way we think about buying and selling cars,” said Shervin Pishevar, Managing Director & Co-Founder of SherpaVentures and Strategic Advisor and Board Observer at Uber. “Beepi takes a wildly unpleasant experience like buying a used car and transforms it into one filled with delight, trust and ease. This investment is an opportunity to bring that joyful Beepi experience to people across the country,” stated Pishevar, who will also become a Board Observer at Beepi.

Much like Tesla and Uber, Beepi has established itself as a disruptive force in the auto industry. Currently the company receives over 1,000 requests a week to sell cars from residents in the San Francisco Bay Area alone. As it continues to recreate how people approach buying and selling cars, Beepi will continue to expand its offerings and simplify the process for buyers and sellers alike.

About Beepi

Founded by Ale Resnik, CEO, and Owen Savir, COO, Beepi is a new way to buy or sell a great car completely online. For too long, buying and selling a car has been a complex and even terrifying process — whether it be because of poor experiences at dealerships, spending too much time haggling over prices, or ending up with a vehicle that falls way below expectations. Beepi is changing that experience by giving consumers an end-to-end experience when buying or selling a car; one that’s also fast, simple, safe and fun. For more information, please visit www.beepi.com.

SutherlandGold Group for Beepi
Ashley Thompson, 415-848-7177
beepi@sutherlandgold.com

how long will dmv allow rogue lawless unlicensed used car dealer @shift_cars to operate ??

we are leaders in dmv certified car dealer education

@gotplates

#realcardealerschool

since 1998

800-901-5950

+++

61 corvette

+++

we have examined records for @shift_cars

a used car disruptive technology sales model

and we have determined that they have

approximately 100 cars for sale on cargurus.com

their sales locations in san francisco, south san francisco and los angeles

have no dealer license of record

have no business license of record

and they boast on their website

driveshift.com

they have no dmv licensed sales personnel

+++

got1

+++

the offer to sell a car requires a dealer license and a consignment agreement

and a federal buyers guide on each vehicle offered for sale

the lack of buyers guide carries a $ 16k fine per vehicle from the FTC

+++

our question is how long with the dmv allow this rogue lawless unlicensed car dealer to operate ???

+++

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