AUTOMOBILE DEALERSHIP LAW
Owners of automobile dealerships in Illinois are just one type of business that operates in the Land of Lincoln. So long as automobiles are the primary mode of transportation in America, Americans will require the services and merchandise that auto dealerships offer. Auto dealerships are governed by a myriad of state and federal laws and regulations, some of which can carry substantial penalties and sanctions for dealerships that do not comply with these provisions. These can be levied even if a violation of these laws and regulations is unintentional. Corri Fetman & Associates can assist your auto dealership in complying with these laws and regulations and allow your dealership’s business continuing unimpeded.
- Automobile Dealership Law: There are a wide variety of statutes, regulations, and other legal principles that can impact the manner in which an automobile dealership carries on its business and how it relates to consumers. Illinois’ “lemon law,” for example, provides certain legal rights to dealership customers who purchase a vehicle from the dealership that later develops problems. Additionally, the business relationship between a dealership and an automaker is usually regulated by contract law and legal principles. In order to make timely and appropriate decisions, automobile dealerships require legal counsel from those who are familiar with automobile dealership law.
- Automobile Dealership Contracts: As one might expect, basic contract law and principles apply to the contracts automobile dealerships enter into as well. If these contracts are poorly drafted, the dealership may unwittingly waive important rights, such as the right to accelerate a loan in the event the borrower misses a payment or the right to repossess the vehicle if the borrower fails to make timely payments. Moreover, a dealership contract between the dealership and an automobile manufacturer that is not reviewed and delicately negotiated can leave the dealership in a precarious situation if the dealership fails to generate sufficient sales, has inventory that remains unsold or is damaged, or needs to diversify the inventory on its lot in order to remain in business.