wholesale dealer auctions must report every sale to dmv

dealerplate

Wholesale auto auction dealers must report vehicle sales on a Vehicle Auction Wholesale Report of Sale (REG 398).

  • The REG 398 includes the phrase “sold through” and contains the:
    • name, address, and dealer number of the selling dealer;
    • name, address, and number of the dealer conducting the auction;
    • date of delivery and the actual odometer mileage reading at the time of delivery to that dealer; and
    • name, address, and dealer number of the dealer acquiring the vehicle.
  • The wholesale auto auction dealer must also complete the “Sold through Auction if Applicable” portion of the “dealer transactions only” section on the reverse side of the title.
    • If the title does not contain a specific space for the auto auction endorsement, the auction must complete one of the dealer sections on the title.
    • Endorsement in the margin of the title is not allowed.
    • If there is insufficient space in the dealer endorsement section, a Vehicle/Vessel Transfer and Reassignment form (REG 262) must be completed.