In a world that is characterized by the desperation for survival, fraud, deceit and manipulation have become the order of the day in both normal life and also business life. The auto dealership business has not been left out of this desperation for survival, with the increasing demand for luxury, elegant and even normal day to day vehicles; fraudulent and illegal dealers have manipulated their way into the once clean car dealership business.
Many unsuspecting customers have fallen prey to the activities of these fraudulent dealers, who in order to increase the value of a car will tamper with the engine or even body parts; some of their activities include tampering with the odometer of a car in order to fraudulently misrepresent the value to a customer, and replacing car parts with low quality parts.
It is as a result of this that the government has made it compulsory that car dealers provide a motor vehicle dealer bond before licenses are issued. This bond serves as insurance for buyers who purchase vehicles that have been tampered with or vehicles that their dealers are subsequently not willing to enforce their warranties. Although some dealers still don’t know the benefits of complying with this rule, as they still believe they may remain underground and yet make profits. However, the level of awareness among buyers is high that no buyer wants to buy from a dealer who does not have a license.
An illegal dealer who buys this bond will simply turn his or her business around because apart from the fact that the business will come out of the shadows, it will also give buyers enough confidence to patronize them since they are sure that there will always be an insurance against any risk. What more can I say, operating your business as an illegal one also serves the risk of you losing all your investments, when and if there is a task force raid.