Dealer Best Practices
1. A dealer should abide by all city, county, state and federal regulations pertaining to the following:
A. Demonstration and sales of motor vehicle
B. Laws regarding handicap access, non-discrimination, Consumer Protection, and Fair Trade Practices.
C. Conduct business in a transparent manner regardless of the
nature of the transaction (wholesale or retail).
C. Follow the NMIADA Code of Ethics, if a member.
2. An independent dealer’s lot should be:
A. Clean and well presented.
B. Have friendly and knowledgable personnel.
C. Be responsive to customers questions and concerns.
3. Should display prominently:
A. City business license
B. State dealers license
C. A membership certificate and Code of Ethics if a member of NMIADA.
D. Zoning & Fire Inspection,
E. Dealer Service Transfer Charge.
4. All pricing should be displayed in a consistent manner. Showing cash, finance, walk-in, internet pricing all being the same.
A. A dealer should prominently display a Buyer’s Guide in each vehicle explaining the limited warranty on all vehicles sold in New Mexico to consumers. Limited warranty for 15 days, or 500 miles, whichever comes first.
B. Dealers should verify customer’s identity by utilizing multiple streams of resources. To include photo id’s and the OFAC (office of Foreign Asset Control).
C. An independent dealer should practice fair credit rules compliance, and financing procedures.
D. Dealers should assume the responsibility to register the vehicle with NM Motor Vehicle Division if the vehicle is financed within 10 days of vehicle delivery.
Cash deals should also be registered within 10 days. The consumer has the right to do their own registration. If the consumer chooses to process their own registration it should be completed within 30 days.
Vehicles not being registered or titled within 30 days of the sale may be subject to penalties and late fees.
Dealers should address customer’s vehicle concerns in a prompt and courteous manner, before, during, and after the sale regarding the Limited Warranty. If you are member of NMIADA our Ethics Committee is available for consulation.
