DEFINITION of TERMS

DMV =  Department o f Motor Vehicles

OL= Occupational License

DEPARTMENT= Department of Motor Vehicles

BOE=Board of Equalization

BAR= Bureau of Automotive Repair

DEALER= owns the dealer ship

NEW VEHICLE= A vehicle from the manufacturer and has never been registered and has less than 7500 miles

USED VEHICLE=A vehicle that has been registered, sold and operated, or has 7500 miles, or 3% parts replaced

AUTOBROKER= Find, negotiate, and arrange the sell of a vehicles for a company or individual and get paid to do so (No selling, no inventory)

WHOLESALE=Conducts sales within the auto industry such as dealer auctions, other license dealers

RETAIL= Conduct sales within the auto industry wholesale, or with the public retail

SALESPERSON=sales vehicles for the dealer

PUBLIC  AUCTION= A location the invite the public to purchase vehicle at a bidding process

DEALER AUCTION=A location that offer vehicles for sale at a wholesale price through a bidding process

REPORT OF SALE (ROS) =A department document that must be filled out to Reports the sale of a vehicle

DEALER NOTICE=Part of the ROS that is submitted to the department and releasing the liability of a vehicle

DISPLAY=an area that vehicles are shown to the public

INVENTORY= the supply of vehicles

BRANCH=a licensed location of operation in addition to your main

MAIN=the main licensed location of operation

CVC OR VC=California Vehicle Code. A book which holds the rules of a vehicle dealer

ASF= Administrative Service Fee. These are penalties applied to a dealer license.

*****************Additional terms maybe explained**********************