Welcome to your daily briefing on automotive developments in New Hampshire. Today we're covering 6 key stories including updates on new hampshire automotive headlines, background & context. Let's dive in.
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Read our complete guide to understand exactly what you need to know and what steps to follow to obtain your New Hampshire auto dealer license.
Relevant to automotive professionals operating in NH.
This guide will take you through every step in getting your New Hampshire auto dealer license in easy-to-understand language.
Relevant to automotive professionals operating in NH.
Auto dealer license requirements and regulations in New Hampshire. Learn about the procedures, forms, and fees associated with applying for a NH dealer license.
Relevant to automotive professionals operating in NH.
Reach professionals in this market
3 stories
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.
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.
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