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FINANCE EXPRESS (FEX) / Automotive Dealers Resource (ADR) Forms

Compliance Information: Document Program Helps Protect Dealers From Lawsuits

Motor vehicle dealers face ever increasing economic and legal challenges.  Dealers can be hit with major financial losses or even lose their businesses unless they understand and comply with a multitude of old and new, often overlapping laws and rules specific to the motor vehicle industry. The informed dealer who makes the effort to understand his obligations can successfully work his way through the mine field of paperwork, thwart the lawsuit potential and prosper in the business. Automotive Dealers Resource of Oklahoma (ADR) is in business to help Oklahoma dealers do just that.

We had asked Attorney Keith Whann, who is known throughout the industry for his legal expertise, is founder of Whann & Associates and Legal Counsel to NIADA, to explore ways to help dealers protect themselves from increasingly successful consumer attorney attacks on their paperwork. Dealers all across the country are being regularly confronted with lawsuits because of the use of incorrect forms or inconsistent use of the many forms that are required in this business. Following more than two years of research and development, Mr. Whann concluded that the majority of dealer problems could be solved if dealers had available to them and would make consistent use of a comprehensive set of business forms in their dealings with their customers.

Such a comprehensive set of business forms were not readily available on the market, so in the design stage of this project, Whann worked with members of the industry to develop the forms that are needed to bridge the legal gaps in the forms that dealers are currently using. The resulting product is what is now known as the Finance Express (FEX) dealer document program which is produced and marketed by Automotive Dealers Resource (ADR).

Whann's conclusion is that this type of program is critical for the automotive industry. While ADR (formerly listed as OIADA) has been providing dealers with specific forms related to compliance, we now have a comprehensive forms program available to dealers. When integrated correctly into the dealerships' management system, the FEX/ADR system can assist dealers in preventing some of the most common paperwork errors, which in some cases can lead to noncompliance. This could include such things as:

 

The FEX/ADR forms provide an integrated system that helps the dealer create a selling mechanism for the dealership that is efficient, cost effective, compliant and customer-focused.

Contact ADR of Oklahoma toll free (1-800-346-4232) or visit our online store for these and all your form needs! We look forward to hearing from you.

Some of the specific forms, and their uses, available through ADR for integration into your business are as follows:

ADR 100 - CUSTOMER PROPOSAL
  • Captures important information about the customer.
  • Records information the dealership will need to complete a transaction.
  • Helps determine the customer's transportation needs.
  • Provides a framework for negotiating with the customer.
ADR 101 - TRADE-IN VEHICLE APPRAISAL
  • Captures information about the vehicle and its history.
  • Detects potential problems with the vehicle.
  • Enables the vehicle to be properly evaluated.
  • Designed to ensure that information is available to represent the vehicle for sale.
  • Provides F & I product upsell opportunities.
  • Provides a defense to payment packing claims.
ADR 102 - TEST DRIVE AGREEMENT
  • Obtains important customer information, including insurance coverage.
  • Protects dealership's interest in the vehicle.
  • States the consumer's obligations.
  • States when the vehicle must be returned.
  • Limits who may drive the vehicle.
  • Requires compliance with applicable law.
  • Is not a rental or loaner agreement.
ADR 116 - USED VEHICLE LIMITED WARRANTY
  • Enables the dealership to sell a vehicle with a "Limited" Warranty.
  • Discloses the following required information clearly and conspicuously, using simple and readily understood language:
    • who can enforce the warranty
    • what is covered by the warranty
    • what the warrantor will do if there is a defect
    • time period of the warranty duration
    • explanation of how to obtain warranty repairs
    • listing of any customer obligations
    • any limitation on implied warranties
    • exclusion/limitation of consequential damages
    • purchaser's legal rights
F 13.1 - ADR 117 (3RD PARTY FINANCE), ADR 118 (DEALER FINANCE) - SPOT DELIVERY AGREEMENTS
  • Provides flexibility for both traditional and sub-prime financed transactions.
  • Is properly integrated into the Retail Purchase Agreement.
  • Specifies the time period the dealership has to obtain final financing approval and the customer's obligations if it is unable to do so.
  • Requires the customer to have a valid driver's license and insurance coverage.
  • Requires customer to operate the vehicle in accordance with the law.
ADR 119 - AUTHORIZATION TO RELEASE PAYOFF INFORMATION
  • Provides important lienholder information for trade-in vehicle.
  • Grants authorization for dealership to request and receive payoff information.
  • Authorizes release of certificate of title to dealership.
ADR 120 - NOTICE TO CO-SIGNER
  • Confirms that the individual agreed to act as a co-signer.
  • Discloses the obligations they are undertaking by agreeing to act as a co-signer.
ADR 121 - INSURANCE COVERAGE ACKNOWLEDGEMENT
  • Confirms customer's obligation to maintain insurance coverage.
  • Sets forth the minimum coverage requirements and allowable deductibles.
  • Reinforces existing rights and obligations of the parties.
ADR 122 - CREDIT INSURANCE DISCLOSURE FORM (NOTICE OF OPTIONAL CREDIT INSURANCE)
  • Records consumer desired to purchase credit insurance products.
  • Confirms which products the customer purchased.
ADR 123 - DELIVERY CONFIRMATION
  • Records any items still owed to the customer.
  • Substantiates that nothing else was promised.
  • Is properly integrated into the Retail Purchase Agreement.
  • Confirms consumer had an opportunity to inspect the vehicle and found it free from reasonably discoverable defects.
  • Verifies consumer is satisfied with the vehicle and understands the transaction.
ADR 124 - CUSTOMER DELIVERY CHECKLIST
  • Reinforces the Delivery Confirmation
  • Records existing rights and/or responsibilities of the parties.
  • Only confirms existing rights and/or responsibilities of the parties.
  • Confirms the consumer is satisfied with the vehicle and understands the transaction.
  • Provides information about the products and services offered by the Dealership.
ADR 125 - ACKNOWLEDGEMENT OF AS-IS SALE
  • Reinforces the warranty disclaimer on the Retail Purchase Agreement.
  • Records the customer's understanding of the "as-is" nature of the sale.
F 12 - ADR 126 - GOOD WILL REPAIR ACKNOWLEDGEMENT
  • Enables the dealership to perform a "goodwill repair" without creating a warranty on the vehicle by:
    • Disclosing the "goodwill" nature of the repair to customers.
    • Recording the customer's understanding that a warranty is not being created.
ADR 127 - WHOLESALE PURCHASE AGREEMENT
  • Designed to accommodate the sale of multiple vehicles.
  • Provides the ability to integrate all material understandings/documents.
  • States Obligations, rights and remedies of the parties.
  • Contains warranty disclaimer to establish vehicles are sold on an "as-is" basis.
  • Contains an odometer reading and disclosure for each vehicle.
F 15.1 - ADR 205 - PRIVACY POLICY
  • Enables dealership to comply with G-L-B Privacy Act requirements.
  • Enables dealership to disclose business practices.
  • Lists the types of information collected/shred with specific examples.
  • Lists the types of third parties receiving the information, with specific examples.
  • Discusses how the dealership protects the confidentiality and security of information.
  • Contains the opt-out information sharing not otherwise permitted by law.
F 15.2 - PRIVACY POLICY - Annual Notice
F 04 - ADR 207 - FTC USED CAR BUYERS GUIDE
  • Required to be posted on all used motor vehicles prior to them being offered for sale.
  • Contains wording, type style, size and format, and is printed with 100% black ink on white paper of a size at least 11 x 7 inches, as specified in the FTC Rule.
  • Contains signature line with required disclosure.
ADR 214 - DEPOSIT RECEIPT
  • Enables the dealership to accept a deposit and provide a dated receipt containing the following information:
    • vehicle description (year, make, model & vin)
    • cash selling price
    • allowance for any trade-in vehicle
    • time period the option to purchase is binding
    • whether the deposit is refundable/conditions.
F 11 - ADR 228 - DEAL JACKET
  • Provides easy storage of documents
  • Assists dealership personnel in ensuring that the transaction is completed properly.
  • Captures information, which helps the dealership establish a bona fide error defense.
  • Provides dealership personnel with quick access to vital information about the vehicle and customer.
F 06 -- RETAIL PURCHASE AGREEMENT/BILL OF SALE
  • Contains provision for complete sold vehicle description.
  • Contains provision for complete trade-in record.
  • Complete customer information as required by the federal government.
  • Provides the ability to integrate all material understandings/documents.
  • States dealership obligations, rights and remedies.
  • States customer obligations, rights and remedies.
  • Contains warranty statement & disclaimer language.
  • Integrates FTC Buyers Guide Information.
  • Odometer reading and disclosure.
  • Provides for customer to acknowledge that he/she is satisfied.
  • Meets all current federal and state requirements for Bill of Sale

This is a partial listing.  Contact ADR (OIADA) toll free      (1-800-346-4232) or visit  our online store for these and all your forms and supplies! All the forms offered by ADR are approved by the State's Used Motor Vehicle and Parts Commission and are designed to meet all current federal and state requirements.  Our mission is to help you succeed.