what is an autobroker endorsement ??? 3 comments
the dmv allows an autobroker endorsement
to both wholesale and retail licenses
as long as the dealer is legally allowed to post a sign
( a wholesale only dealer operating out of the home cannot generally hang the required sign )
the autobroker endorsement is often misunderstood
an autobroker does not sell any vehicles
an autobroker engages the retail client and is paid a fee
with the clients written authorization
following completion of a retail sale by a retail dealer
the autobroker is not legally required to disclose the fee amount
smart clients always use an autobroker to negotiate their deal
for new or used vehicles
saving significant time and money in the process
good luck
thx
charlotte
800-901-5950
3 Responses to 'what is an autobroker endorsement ???'
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C
800-901-5950
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hello deborah
we advise brokers to have a brokering agreement
for each customer they are representingthe red flag rules apply if you are collecting, submitting or forwarding
ANY non-public information from the buyerthe dmv requires you to collect the photo ID of each buyer
cash deals under the provisions of the car buyer bill of rights
must be drafted on a retail conditional sales contract
and all disclosure requirements of auto brokering applythe brokering agreement signed by the buyer and presented to the selling dealer
is the legal documentation required in the dealer jacket
for the autobroker to be paid from the customer and/or the selling dealerthe autobroker agreement allows the broker to get paid
hope that makes it clearer for you
hope all is wellthx
C
800-901-5950
gotplates.com
Is a Brokering Agreement necessary on leased vehicles, if the transaction is arranged by the broker with the dealer? And why do some dealers not require the Brokering Agreement on cash deals? In other words, when is the Brokering Agreement legally necessary?