This law allows motor vehicle dealers in Virginia to sell and advertise existing new vehicles for up to 180 days after their franchise is terminated, under specific conditions. It clarifies the dealer's rights regarding inventory post-termination and limits their ability to perform warranty services or receive incentives unless earned prior to termination. The law also grants similar rights to late model and factory repurchase dealers.
A dealer can sell and advertise existing new vehicle inventory for up to 180 days following franchise termination, under specific conditions.
The vehicle must have been acquired in the ordinary course of business, the franchise must have been terminated not due to license revocation or a crime, and the vehicle must have been in inventory at the time of termination.
No, the law does not entitle a dealer to continue warranty service or receive incentives unless these were earned prior to the franchise's termination.
Yes, they have the same rights and obligations as franchised new vehicle dealers under Virginia law.