Welcome to your daily briefing on automotive developments in Florida. Today we're covering 7 key stories including updates on florida automotive headlines, background & context. Let's dive in.
4 stories
How to Become a Used Car Dealer in Florida So, you want to be a used car dealer? That’s great! The FIADA is excited to help you through this journey. Used car dealers are required to be licensed in the state of Florida, and that process….
Relevant to automotive professionals operating in FL.
Look up your VIN to learn about recent recalls and necessary repairs. Find out about recalls on cars, trucks, SUVs and vans in Jacksonville, FL area.
Relevant to automotive professionals operating in FL.
If you need a Florida dealer license, follow our simple guide to learn the steps, requirements, and tips to get licensed fast and easy.
Relevant to automotive professionals operating in FL.
New FLHSMV rules: From Sept 23, valid passports required for registration. From Oct 1, two proofs of address needed for DL/ID. CDL residential rules changed Oct 7.
Relevant to automotive professionals operating in FL.
Reach professionals in this market
3 stories
Floor-plan lenders perform unannounced inventory audits to verify that every financed vehicle is on the lot, in the condition reported, and not sold-out-of-trust. The audit cycle is typically monthly. Discrepancies — a vehicle not present without proof of sale and payoff — trigger acceleration of the entire credit line in many agreements.
Sold-out-of-trust findings can convert a manageable cash-flow gap into immediate demand for the entire floor-plan balance. Recovery from a single bad audit can take years.
Federal law prohibits the sale of new vehicles under an open recall; the rules vary for used vehicles by state. Several states now require dealers to disclose open recalls to used-car buyers and to repair recalled vehicles before sale. Compliance varies widely across regions.
Selling a vehicle with an undisclosed open recall produces consumer-protection exposure and, in some states, automatic rescission rights for the buyer. The cost is far higher than the recall repair would have been.
A warranty is included in the purchase and obligates the seller; a service contract is sold separately and obligates a third-party administrator. The two are regulated differently — warranties under Magnuson-Moss federal law, service contracts under state insurance or specialty regulation. Misadvertising one as the other is a common consumer-protection issue.
Misrepresented coverage produces immediate refund liability for the contract price plus potential consumer-protection damages. Sales-floor scripts are the most common source.
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