Deal Jacket Checklist
One change of note for dealers regarding SB 876 is that, as of March 1, you will no longer need to maintain Form VTR-136 (County of Title Issuance) in the deal jacket. However, the following documents must still be maintained: 1. Documentation on how the vehicle was brought into the dealer’s inventory (Auction Receipt, Purchase Record, Buyer’s Order, Bill of Sale, etc.). 2. Copies of the Retail Installment Agreement(s). 3. Odometer Statement (if applicable). 4. Front and back of a title or MCO for the motor vehicle prior to transfer. 5. Buyer’s Guide. 6. We-Owe (if applicable). 7. Buyer’s Orders, Bills of Sale, Lease Agreements, and any Conditional Sales Agreement/Bailment Agreements (associated with the sale of the vehicle). 8. A copy of the payment instrument or a receipt for cash received.
9. Financing documents, waivers, any other agreements between the seller and purchaser to include the Credit Application. 10. Copy of Form VTR-130-U (Application for Texas Title and/ or Registration). 11. Copy of Form VTR-500 (Title Application Receipt/White Slip). 12. Copy of Form VTR-271 (Limited Power of Attorney) if taking a vehicle in for a trade. 13. Copy of Form VTR-264 (Repossessed Motor Vehicle Affidavit) if the vehicle was repossessed by the dealer. 14. Copy of proper Photo Identification (only required if title transferred in Texas). 15. Copy of required Written Disclosure for Rebuilt Salvage (if applicable). 16. A photocopy of the completed sales tax exemption form for out of state sales approved by the Texas Comptroller of Public Accounts (if applicable).
17. Copy of Consignment Agreement (if applicable). 18. Copy of Buyer’s Tag Receipt — Dealer Copy. 19. All other documents in your possession related to the listed vehicle(s).
Dealer Training
One of the guiding philosophies of our Enforcement Division is that compliance is best achieved through education. That is why TxDMV provides online dealer training seminars regarding the many laws affecting the motor vehicle industry. These free sessions help dealers understand the rules that govern their businesses. Each day-long seminar includes information that enables dealers to stay in compliance and avoid violations. I highly encourage everyone who is already working or interested in working in the motor vehicle industry to attend. See our website for upcoming dates:
ENSURE GROWTH, PROFITABILITY & LONG TERM CUSTOMER LOYALTY WITH OUR BEST-IN-CLASS SUITE OF PRODUCTS • TIADA Approved CPO Program • Full Claims Administration • Limited Warranties
• Collateral Protection Insurance • Vehicle Service Contracts • GAP Waivers
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December 2021