Va. Dealers Association Seeks F&I Licenses
F&I managers in Virginia may soon face the same licensing process as vehicle salesmen if the state´s Motor Vehicle Dealer Board approves a request from the Virginia Automobile Dealers Association.
F&I managers in Virginia may soon face the same licensing process as vehicle salesmen if the state´s Motor Vehicle Dealer Board approves a request from the Virginia Automobile Dealers Association.
To become licensed, the Motor Vehicle Dealer Board must conduct a background check on applicants. Candidates who have committed a felony or have a recent record of any crime related to vehicle sales would likely be denied a license, reported Automotive News.
A 20-question multiple-choice test would also be administered by the Virginia Department of Motor Vehicles´ customer service division. At least 16 questions must be answered correctly to pass, including topics such as truth-in-lending regulations.
Don Hall, president of the state´s dealer association, said licensing F&I managers would enhance public confidence. He added that it is an attempt to show leadership and address the problems addressing car dealers.
Richard Carter, a member of the association´s board and general manager of Haynes Jeep-Chrysler in Richmond, Va., told Automotive News that the board voted unanimously to pursue the licensing initiative.
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