August 2, 2018
To WATDA Franchised Dealers,
Many of you may have recently experienced an issue with processing transactions due to the dealer’s trade name or an abbreviation being listed on the Manufacturer’s Statement/Certificate of Origin (MSO/MCO). The DMV has a long-standing policy of requiring that the dealer’s formal corporate name by listed on all Buyer’s Guides, Purchase Contracts, MV-11’s and MSO/MCO’s. Through an internal auditing process, DMV has discovered that many manufacturers are sending dealers MSO/MCO’s with the dealer’s trade name or abbreviations listed and not the full legal name.
The result is, many dealers have been informed that transactions have been put on hold and the dealer was instructed to contact their manufacturer to reissue an MSO/MCO listing the dealer’s legal name. In the meantime, the customer’s transaction was not being processed. WATDA has been in contact with DMV about this situation and we are working with DMV to rectify the issue as quickly and painlessly as possible.
DMV has informed WATDA they will process all transactions (all pending and going forward). However, in an effort to facilitate compliance with the policy, DMV is attempting to communicate with each manufacturer to inform them that they need to title their MSO/MCO’s in the dealer’s legal name. This process will take some time.
Therefore, DMV will allow dealers to process MSO/MCO’s with the dealer’s trade name or abbreviations on MSO/MCO’s issued prior to October 1, 2018. All MSO/MCO’s issued after October 1, 2018 MUST HAVE the DEALER’S FULL LEGAL NAME listed in order to process the transaction. While DMV is reaching out to each manufacturer, dealers can help expedite the process by contacting your manufacturer with any information they are going to need to change their records and process.
If you have any questions, please contact Chris Snyder at WATDA.