If you can’t spot them or don’t know they’re there, your business may be in jeopardy. You, the dealer, are viewed as the “expert” in the retail automotive field and are held to the highest standard in your dealings with the public. Whenever you buy, sell or repair autos, as a professional in the automotive business you may be governed by state automobile disclosure laws or other state and federal statutes regarding business practices. You may be held responsible for having the expertise to distinguish between new and previously damaged (rebuilt or salvaged) items and disclosing this to your customers.
To learn more about this read the latest Loss Prevention Bulletin from Zurich, “Salvaged Vehicles on Your Lot Can You Spot Them?”
Click here to download the PDF version of “Salvaged Vehicles on Your Lot Can You Spot Them?”