July 15, 2015
Disclosure Form(s) for Use in Oregon
Oregon Senate Bill 713, which was signed by the Governor June 26, 2015, includes provisions that provide for the following:
1) a manufacturer may not coerce a dealer to advertise, promote, offer, or sell an extended service contract, extended maintenance plan, a Guaranteed Asset Protection Waiver (GAP) endorsed by manufacturer, distributor, or importer; and,
2) this prohibition does not affect a manufacturer’s right or ability to require a dealer that sells a product or service that is similar to the products or services that the manufacturer does not provide, originate, sponsor or endorse, to notify a customer in writing and to obtain the customer’s acknowledgment, that the manufacturer, distributor or importer does not provide, originate, sponsor or endorse the product or service.
What this means to a dealer is that an automotive manufacturer can, in certain situations, require the dealer to provide and obtain a signature on an additional acknowledgment from the customer if the transaction includes an F&I product provided by Wise F&I or an affiliate.
Wise F&I has prepared template disclosures for the dealer’s use if required by the vehicle manufacturer. The disclosures would be specific to each F&I product category. Click here to obtain a template PDF file of each disclosure.
Questions or concerns? Please contact Client Services at 800-849-9559 or email ClientServices@WiseFandI.com.