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Keith Whann

--Keith Whann--
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--Keith Whann--
Keith Whann
On 10/30/16, 12:51 PM

Most States have specific disclosure requirements with regard to manufacturer buybacks. Some require the use of a separate form containing a State mandated disclosure while others require a dealer to disclose that the vehicle is a buyback on the purchase agreement. Even if your state has no specific requirements with regard to manufacturer buybacks, it is likely that failing to disclose this fact would violate your State’s Unfair and Deceptive Acts and Practices (UDAP) Statute. Furthermore, if your State requires a manufacturer buyback title brand, you should explain to your customer, in writing, that the title to the vehicle will be branded and the repercussions of that brand, such as decreased trade-in value. Remember, this advice pertains not only to manufacturer buyback vehicles, but to any other relevant disclosures related to condition such as its being a salvage, junk, rebuilt or flood vehicle.

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Asked: 10/30/16, 12:51 PM
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Last updated: 10/30/16, 12:51 PM