Virginia Dealer Manual - Virginia Department of Motor Vehicles
Virginia Dealer Manual - Virginia Department of Motor Vehicles
Virginia Dealer Manual - Virginia Department of Motor Vehicles
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<strong>Virginia</strong> <strong>Dealer</strong>’s <strong>Manual</strong><br />
October 1, 2009<br />
NOTE: A dealer must retain employment records for individuals no longer in their<br />
employ, and must include the beginning and ending dates <strong>of</strong> employment. <strong>Dealer</strong>s must<br />
maintain records <strong>of</strong> the number <strong>of</strong> hours per week that each employee works or worked<br />
during the time they were employed by the dealership. An <strong>of</strong>ficial record <strong>of</strong><br />
compensation for these hours, such as a copy <strong>of</strong> a W-2 Form is suitable pro<strong>of</strong>. Please<br />
note that ALL salespersons must be issued a W-2.<br />
7.8.1.3 Vehicle Inventory<br />
a. <strong>Dealer</strong>s must retain lists <strong>of</strong> all vehicles in their inventory for sale, resale and<br />
consignment as well as all consignment contracts and records <strong>of</strong> purchases, sales,<br />
sales and trades for a period <strong>of</strong> five years. The buyers order for each vehicle must<br />
also be retained for five years, and must include the following information:<br />
1. year model<br />
2. make<br />
3. vehicle identification number (VIN)<br />
4. purchase date<br />
5. date received in inventory<br />
6. date <strong>of</strong> sale or trade<br />
7. name and address <strong>of</strong> dealer and purchaser<br />
8. sale price<br />
9. amount <strong>of</strong> deposit and amount<br />
10. credit for trade-in<br />
11. processing fee (if any)<br />
b. Salvage <strong>Dealer</strong>s are required to retain the same records as required on the buyer’s<br />
order for any late model vehicle plus:<br />
1. name and address <strong>of</strong> the person form whom the vehicle was acquired.<br />
2. title number<br />
3. state <strong>of</strong> issuance<br />
4. motor number, if applicable<br />
5. name and address <strong>of</strong> purchaser<br />
6. VIN <strong>of</strong> vehicle from which any major component part is taken.<br />
7. bill <strong>of</strong> sale for any major component part sold.<br />
7.8.1.4 Collection/Fees<br />
<strong>Dealer</strong>s must retain itemized records for each vehicle <strong>of</strong> all <strong>Motor</strong> Vehicle SUT, and all<br />
fees collected for titling, registration, UMV fees and any additional processing fees, for a<br />
period <strong>of</strong> five years.<br />
NOTE: The DMV Investigator / MVDB Field Representative may request any Buyer’s<br />
Order/Bill <strong>of</strong> Sale to verify collection <strong>of</strong> fees noted above.<br />
7.8.1.5 Odometer Disclosure<br />
Federal law requires that dealers retain odometer disclosure statements for a period <strong>of</strong><br />
five years. Retained documents containing a disclosure statement for a vehicle’s<br />
odometer reading may include:<br />
- 86 - <strong>Virginia</strong> <strong>Department</strong> <strong>of</strong> <strong>Motor</strong> <strong>Vehicles</strong>