To be compliant, what must a dealer do regularly?

A dealer must regularly review laws and regulations related to motor vehicle sales to ensure compliance with state and federal requirements. This task is essential because the automotive industry is governed by a wide array of regulations that can frequently change. By staying informed about current laws, dealers can avoid legal penalties, safeguard their businesses, and maintain good standing with the regulatory authorities. Knowledge of regulations encompasses a variety of aspects, including financing, warranties, advertising, and handling of trade-ins, which are critical for legally operating a dealership.

Regularly reviewing inventory, conducting customer feedback sessions, and focusing on marketing strategies are all valuable business practices. However, they do not carry the same compliance implications as keeping up with the evolving landscape of laws and regulations that govern motor vehicle sales. Compliance is the foundation of a dealer’s ability to operate effectively in the industry without facing legal challenges.