GNYADA September 2015 Newsletter

Refunding Registration Overcharges

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If your dealership offers to obtain registrations and titles for buyers, you can either calculate actual charges or attempt an approximation of the total amount due. According to New York State law, if a registration overcharge is based on an estimate, the dealer must refund any overcharge within 60 days of securing the registration and title. In addition, if your dealership esti-

mates this fee, you must include the following wording in the sales con- tract, lease or a separate document initialed by the customer: “The amount indicated on this sales contract or lease agreement for registration and title fees is an estimate. In some instances, it may exceed the actual fee due the Commissioner of Motor Vehicles. The dealer will automatically, and

within sixty days of securing such registration and title, refund any amount overpaid for such fees.” GNYADA suggests checking your contracts and lease agreements for this disclosure statement. GNYADA further urges dealers to have a proce- dure in place to ensure overpayments are refunded within the 60 days.

OMS Plate Registrations Expire This Month

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82, sign it and attach a copy of the OMS registration and the FH-1.

effective date of 10/01/2015 and expi- ration date of 09/30/2016. It’s best to contact your insurance provider as soon as possible for your FH-1’s, as they’ll likely be very busy providing these for everyone with OMS regis- trations. If you have your renewal notice, sim- ply sign it and attach it to the FH-1 before submitting it for renewal. If you didn’t receive a renewal notice, all you need to do is complete a MV- Manufacturers in many cases have strong-armed dealers into excessive facility requirements in addition to various "incentives" to create high customer satisfaction. Those invest- ments are intended to create cus- tomers for life. Painter's model is flawed if he needs to access dealer data to determine who his customer is. His company's service is a digital version of a print ad. What newspaper would claim that the dealer's customer belongs to the

If you lease or rent OMS vehicles at your dealership (essentially, vehicles for hire, without a driver), it’s impor- tant to be aware that all OMS regis- trations expire on September 30th . It doesn’t matter when you first regis- tered the vehicle — they all expire annually, on this date. Unlike regular registrations, you must submit a FH-1 (insurance ID card) for each vehicle, with your renewal request. The FH-1 must have an

Since we’re already in September, we recommend you submit the renewals as a “Same Day Rush”, so your regis- tration doesn’t expire before you get your new registration. (This is also a good time to make sure that the vehi- cle inspection isn’t expired.)

For further information, please contact DMV-DIRECT at 718.747.0400

Painter's Business Model is Flawed

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newspaper for billing purposes? Scott is not solely at fault here; deal- ers must reconsider a business model that permits access to their customer data. At some point, TrueCar's business model will attempt to convert dealers' customers into TrueCar's customers without the tremendous investments that dealers have made in facilities, personnel and capital to create a favorable experience in the purchase and service of vehicles.

The following opinion piece, written by GNYADA accounting consultant Steven J. Rosenblatt, was featured in the August 3rd issue of Automotive News.

To the Editor:

TrueCar CEO Scott Painter's letter to the editor is misleading ("TrueCar does not misuse dealer data," July 20).

Greater New York Automobile Dealers Association • www.gnyada.com

The Newsletter • September 2015

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