Flashcards in GENERAL INFORMATION Deck (10):
A vehicle identification number (VIN) is comprised of 17 alpha numeric characters. Which
character identifies the model year?
If a vehicle is to be titled out of state, temporary tags are issued and the purchaser does not have the
required liability insurance, the dealer:
Must collect 1/12 of the uninsured motorist fee and submit to DMV.
On the buyers order, the line item, “Balance Due at Settlement” is used:
With both cash and finance transactions.
In general, a completed buyers order is legally binding when:
Both parties agree on a price and sign the buyers order.
In order for a dealer to occasionally rent a vehicle without a rental license:
The dealer cannot rent a vehicle without a rental license issued by the Virginia Department of
A dealer makes a good will substitution for a vehicle previously delivered and titled to a customer. The
sales and use tax refund process is:
The tax is not refundable
The sales tax on a warranty or service agreement sold to a customer is paid to:
The Virginia Department of Taxation
Effective July 2012, a Temporary Supplemental License issued from the MVDB:
May only be issued for 8 off site sales in a year.
Cannot have consecutive sales in the same jurisdiction.
If notifications are required, notifications must be sent by Certified Mail.
How many years is a dealership required to maintain proof that a Virginia Safety Inspection was
performed prior to sale at retail?