What checklist should I use?
Member wants to refinance their current loan for an updated rate
Internal Refinance
True or False?
Specialty Plates belong to the vehicle
False
Specialty Plates belong to an Owner and are placed on the vehicle
What document do you use to claim exemptions from Taxes/Smog requirements?
Statement of Facts (REG 256)
When is Registration Renewals required prior to financing a loan?
When Registration Renewal is due in 75 day or less
All DMV Notifications are sent to the address ________ has on file
DMV
Member wants to purchase a vehicle from a Non-Franchised Dealership
Dealer Purchase
What is the name of the form required to Retain/Release interest in a Specialty Plate?
Special Interest License Plate Application (REG 17)
How are relationships selected on the document used for exemptions?
Underlining
Sales Tax is calculated using the current rate of the _______ city
Buyers
When is a MVR Required?
For all Private Party, Cash Out and Lease Buyout transactions
Member is purchasing a vehicle from a private party, the private party still has a balanced owed
Private Party with Lienholder
True or False?
All types of Specialty Plates are available for purchase
False
There are Specialty Plates with specific requirements.
(ie: Firefighters, Disabled etc)
Are Ex-Spouses a valid exemption?
No
Sales Tax is required
How can a member purchase a vehicle out of state?
From a Franchised Dealership in the state they reside in
True or False?
POCU can clear violations on file for the Owner(s)
False
They must clear it with the issuer
Member wants to buy out their current lease and remove a Registered Owner
Lease Buyout with a sale
True or False?
Specialty Plates have an annual fee
True
DMV informs the owner of the fee
Are siblings a valid exemption?
Only if both parties are minors
Reminder: We do not do loans for minors
Are we able to do loans for vehicles registered in a Business Name?
No all Owners must be individuals
What document is used for Name Changes on DMV Records?
Statement of Fact (REG 256) Section F Name Statement
Member is purchasing a Boat from a Private Party
Boat and Trailer Private Party
What are the two types of personalized plate sequences issued by the DMV?
Personal and Sequential
Is the Smog Abatement fee required when Smog exemptions are claimed?
No
All Smog requirements are being waived by the DMV and no fee is required
Do we collect and pay members registration fees?
No, the member must provide proof of payment
Name 2 things we check for on an MVR
Registration
Record Conditions
Stops
Violations
Suspended records
Vehicle type
Etc