Occasionally, we discuss dealership myths — things that “everyone knows”, even though they may not be true. Here are some you should consider.

Dealers know that the business carries with it a high-risk environment involving valuable inventory, customer interactions, employee operations and an ever-changing regulatory landscape. Understanding and maintaining adequate insurance coverage is not merely the best practice; it is a critical component of sound business risk management and legal compliance.

The original Used Car Rule was promulgated by the Federal Trade Commission in 1985. While there are few dealership employees who were active before the Rule was put in place, there is still some confusion surrounding the completion of the buyers guide. This was caused in part in early 2017 when the Rule was revised, and the buyers guide was redesigned.