Welcome to your daily briefing on automotive developments in New Jersey. Today we're covering 5 key stories including updates on new jersey automotive headlines, background & context. Let's dive in.
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The New Jersey Senate and Assembly have approved Senate Bill 3309, the Motor Vehicle Open Recall Notice and Fair Compensation Act (the Act), which now awaits Gov. Phil Murphy's signature.
Relevant to automotive professionals operating in NJ.
Stay updated with the latest New Jersey DMV changes for 2024, including new fees, services, and regulations.
Relevant to automotive professionals operating in NJ.
Reach professionals in this market
3 stories
Replacement key fobs run $150-$500 retail with manufacturer programming, but cost dealers and locksmiths a fraction of that. Independent locksmiths now match dealer pricing in most markets. Owners who go to dealers default frequently because they do not realize the alternatives are equivalent.
For service departments, key-fob revenue is a meaningful margin contributor. For consumers, awareness of the alternatives is a recurring cost question.
Most states distinguish between retail, wholesale, and broker dealer licenses, with different bonding, facility, and inventory requirements. A wholesale license does not authorize retail sale to consumers; selling cross-category is a license violation that can trigger immediate suspension regardless of intent.
Cross-category sales are also typically uninsurable under the dealer's bond, leaving the dealer personally exposed on consumer claims that arose from the unauthorized sale.
A dealer may pull a credit report only with the consumer's authorization or for a specific permissible purpose under FCRA — typically completion of a credit transaction initiated by the consumer. Pulling a credit report based on a sales-floor walk-in without explicit authorization is a violation, even with intent to "save the customer time.".
FCRA violations carry statutory damages even without proof of harm, plus attorney fees. A pattern of unauthorized pulls can produce class-action exposure.
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