Some lenders file DMV paperwork themselves
Some lenders that finance vehicle purchases are requiring the selling dealer to prepare the application for title/registration and collect the fees, but deliver the application, fees and own- ership document to the lender for sub- mission to DMV.
For dealers who are preparing DMV documents and collecting fees, state law – under ORS 822.042(1)(b) and OAR 735-150-0050(1)(5) – re- quires the dealer to submit the title/reg- istration application to DMV within 30 days from the date of sale and to main- tain a record of the date submitted.
When the lender is submitting docu- ments prepared by the dealer, dealers should maintain a record of when the documents were delivered to the lender. DMVrecommends using certi- fied mail or similar traceable service.
If the dealer is hand-delivering the documents to the lender, DMVrecom- mends having the lender sign for receipt of the items. It is a good idea for deal- ers to keep copies of the documents on file as further proof of compliance.
DMV considers the date that the complete document package and fees are delivered to the lender as the date of submission for compliance purposes.
Dealers need to keep in mind that if the application for title/registration is being prepared by the lender and the dealer merely is delivering the owner- ship documents to the lender, the dealer must do this within 25 days from the date of sale – as required under ORS 822.042(1)(a) and OAR 735-150- 0050(2).
Dealers also must maintain a record of when the title was delivered to the lender.
If there is a title delay and the dealer is unable to meet the 25- or 30-day requirement, then be sure to document the good-faith efforts to obtain the title. Dealers also must notify the purchaser and any lien holders of the delay in writ- ing within 25 business days from the date of sale.
The publication “Title Delivery Re- quirements and Consignment Practices for the Oregon Dealer” (Form 7080) outlines these requirements and pro- vides a sample letter. This publication is available by visiting www.OregonDMV.com – click on Dealers and Business, then select Forms, Manuals and Publications.
Handbook update with new laws available on Oct. 1
The Title and Registration Handbook is currently being re- vised to include important leg- islative changes that affect the automobile industry effective Oct. 1, 2009.
The October 2009 revisions will be available to view, print or copy at www.Oregon DMV.com on Oct. 1, 2009.
Changes in the October 2009 Handbook revision will include increases to several ve- hicle fees and a new “Lemon Law Buyback” brand for ve- hicle titles.
Dealers should be sure to access the handbook on Oct. 1 so that they are familiar with the upcoming changes and col- lect the correct fees.
Dealer plate fee will rise with manufacturing cost
The state legislation that is going to affect vehicle buyers is affecting deal- ers too.
Plate fees increased under House Bill 2001, so the price of dealer plates also will rise, starting Oct. 1, 2009.
To replace an existing dealer plate,
the total fee will increase Oct. 1 from $13 to $22 for vehicle dealers and from $6 to $15 for dealers in motorcycles, mopeds and Class 1ATVs and snow- mobiles.
Vehicle dealer plate Motorcycle, moped Class 1 ATV and/or snowmobile dealer plate