Isell, how sure are you that it's Homeland Security that they run you through? I'm thinking it's Treasury that administers the OFAC program. Homeland Security administers the No Fly list, but I don't think they will tell a car dealer, or any third party, whether someone is on No Fly. There is a Freedom Of Information Act process to check No Fly, but I think you can only initiate it on yourself.
Here is the mission statement directly from the U.S. Department of the Treasury’s website concerning OFAC:
“The Office of Foreign Assets Control ("OFAC") of the US Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the proliferation of weapons of mass destruction, and other threats to the national security, foreign policy or economy of the United States. OFAC acts under Presidential national emergency powers, as well as authority granted by specific legislation, to impose controls on transactions and freeze assets under US jurisdiction. Many of the sanctions are based on United Nations and other international mandates, are multilateral in scope, and involve close cooperation with allied governments.
I agree that OFAC includes terrorists, but I think that Treasury and Homeland Security are focused on different aspects of terrorism. OFAC (Treasury) is intended to prevent the funding of terrorists, while Homeland Security is charged with preventing the entry into the U.S., especially via air travel, of persons who are known / suspected of terrorist acts.
Other than regretting that they're necessary, I have no problem with their goals, but I'm not understanding how either program relates to buying a car.
When to trade my leased G6. Expires: 07/11. Currently have 35,670miles. 4door, leather, roof, 4cyl, xm, changer. Everything except the V6 and fog lights.
I stopped by my dealership. They were more than helpful in getting me a "dealer buy out quote". I am not sure if I can legally put that number here, My sheet states I cannot disclose it?
Based on KBB Condition Value Excellent $9,825 My car would be in excellent condition. Good $9,200 Fair $8,100
Retail Value: $13,895 Now, I understand this number is not the one used in calculating the trade in. It is the $9,825 estimated number. But, what I will state is that my pay off is very near and ever so slightly lower than my retail value.
So this gives me a number of about $4,000 of negative equity? Now the dealer might be willing to give me more and I think they did in the Spring.
He was already asking about me trading....he was like, we could get you into a Regal. A sharp car, but I really want away from GM if I can. Plus, it is a 4cyl.
You asked the same question in another forum but I'll be happy to answer you again.
You are responsible for the remaining payments.
It's a Pontiac.
It's a 4 cylinder Pontiac.
It's a high mileage Pontiac.
Assuming your 4000.00 negative amount is correct, you will either have to write a check for that 4000.00 or **some** of it may be rolled into another car.
Or, you can ride out the next 11 months. At the end, you will probably be way over on miles and you will have to write a check for the excessive miles at, probably 15 cents a mile.
No good solution here for you.
If you decide to lease again, pick a model unlike a domestic car that doesn't have extreme deprecation and have them set up your lease for the number of miles you expect to be driving.
Oh, I am sorry. I didn't have this information before. I believe I stated that I would reply with this quote. It was all speculation before. So that we could see exactly where I stand. I just thought you all would be interested to see it. I appreciate you help though!
Well, unless you are actually ready to pull the trigger that store may have simply guessed at the numbers. I'm afraid that if it came right down to doing something the real, solid numbers might change.
You don't need to be sorry I was only trying to let you know what your options were.
You're right, my question was too broad. I'll try again. What are the obligations under OFAC when buying a car in the U.S.? Who has to do what to whom?
Not seeing here as complete of an answer as I needed, I called Treasury. While they don't, as a general practice, answer questions via e-mail, they were very helpful on the phone and guided me to the appropriate reference information on the website, treas.gov/offices/enforcement/ofac.
For U.S. domestic transactions (not importing / exporting) the obligation under OFAC is to determine whether the name of any party to the transaction appears on the SDN list or on the NS-PLC list. Both lists can be viewed, and downloaded, free of charge, from the OFAC website. Instructions for using Adobe, and similar, software to conduct the search are included.
The OFAC obligation is unaffected by the method of payment (financed vs cash). Also, the OFAC obligation is the same for all parties to the transaction. In other words, the purchaser has the same obligation to search the SDN and NS-PLC lists for the name of the seller as the seller has to search for the name of the purchaser. For OFAC purposes, corporations are treated as people, so when buying from a corporation (which most dealerships are), the name of the corporation should be entered as a search term.
Nicely done bit of research there. I've heard sales people talk about the OFAC report on these sites, but never (knowingly) saw it as a request form.
They just jokingly refer to it as something they have to present to see if you're a good guy or bad guy (whatever that means).
I bought new a few months back and gotta say, if I saw the form I don't remember it. Par for the course though, as there are a lot of forms to sign (and I paid cash).
Mako1a, thank you. Just to clarify, assuming that the purchase transaction that you mentioned was U.S. domestic, and that the name of any of the parties to it did not appear on the SDN list or on the NS-PLC list, OFAC wouldn't have required that anything be signed (in order to meet the OFAC obligation, specifically).
In order to prepare it for signing, the purchase contract is filled out with the name of the seller (corporation and/or person) and the name of the purchaser. For OFAC purposes, the seller has an obligation to search the SDN list and the NS-PLC list for the name of the purchaser, and has additional obligations in the (unlikely) event that the search returns a matching name. The purchaser has the same obligation regarding the seller.
My understanding is that OFAC doesn't require documentation of the search results when a name match is not found, although I think I would keep a copy of the version of the SDN list and the NS-PLC list that I used for my search. Just in case of the (unlikely) event that the OFAC status of the transaction were to be challenged at a future time.
OFAC does revise the SDN list and the NS-PLC list periodically. It is possible that the name of any of the parties to a given transaction could be absent from the lists at the time the transaction was completed and present on one of the lists at a later time. Possibly previous versions of the SDN list and/or the NS-PLC list can be obtained from OFAC; I haven't looked into that aspect.
Are you talking about an 'individual' transaction, which since this is an automotive forum, I assume is a vehicle sale?
From a brief look at a Treasury site, it looks to me like the regulations do not cover individual transactions, unless maybe you are going to export a vehicle.
What I think I see are regulations covering 'financial institutions'. If you are one of these, I think you should be asking such questions somewhere else, rather than a general auto forum.
I'm not trying to be nasty or unhelpful, but I personally don't understand what kind of help you are looking for.
I've been looking to buy a 2011 Kia Sorento with a specific color and options. I've been dealing with a local dealer and they can't locate the specific model I want, however they told me that they have one coming in to them with exactly what I want. The sales manager said they have a VIN number on the car already and it could arrive any time. That was 3 weeks ago this past Wednesday. I also noticed they received two new Sorento's within the past few days -- neither were the one I want.
My question is how often do Kia dealers receive new inventory and is there any way for them to have a set date on when they'll get my model in stock? Or are they just feeding me a line to keep me waiting?
I have done searches from other dealers and I don't think they're lying to me about not being able to find one. But is there any way to know if they're lying about having one come in "any time"?
You asked this question elsewhere but I'll answer it again for you.
If they have a VIN number, that means the car has been built and that it's in transit to them. They can't know exactly when it'll actually drop. The transport companies are usually pretty predictable but it can vary by days. If it's been three weeks it's probably going to drop this week. You might want to put a deposit on it if you haven't already done so.
I used to pad my delivery estimates by at least a week after I took a deposit. If I didn't do this, they would call and bug me and get impatient. If I called them a week early to give them the good news their car had arrived early they were always very happy.
Bolivar, not to worry, I don't think you're trying to be nasty or unhelpful. As the help that I was looking for wasn't available here, I got it from Treasury and posted it in Message #2609. I believe I was clear in my previous posts that I was asking about OFAC in regards to vehicle sales, not financial institutions. I'll make no predictions about whether sharing what I learned from Treasury will help, but based on having searched the Edmunds boards before I posted my question, I am sure that I'm not the only Edmunds participant having questions, or confusion, about OFAC.
I'm not sure that I fully understand what you mean by "individual" transactions, but OFAC does apply to all transactions (exchange of items of value, including vehicles and money) in which any party (individual or otherwise) is subject to the jurisdiction of U.S. regulation. An excerpt from the OFAC FAQ (treas.gov/offices/enforcement/ofac) reads: "Q: Who must comply with OFAC regulations? A: All U.S. persons must comply with OFAC regulations, including all U.S. citizens and permanent resident aliens regardless of where they are located, all persons and entities within the United States, all U.S. incorporated entities and their foreign branches."
That said, Treasury acknowledges that different transactions have different OFAC risk levels and obligations. The Treasury guidelines for measuring OFAC risk are too lengthy for me to post here, but I believe it's a fair summary to say that most U.S. domestic transactions (including U.S. domestic vehicle sales) are low risk, while most international wire transfers are high risk.
Treasury does not generally advise any one person (or corporation) what their OFAC risk level is regarding any one transaction before the transaction has begun. Taken together with the complexity of the OFAC regulations, this means it's possible for any person / corporation to misjudge their OFAC risk level. The misjudgment can occur in either direction. For example, a U.S. vehicle seller may be unaware that OFAC exists and behave as if their OFAC risk level is lower than it actually is. On the other hand, a U.S. vehicle seller who mostly engages in U.S. domestic sales may be influenced by marketing information from interested third parties to behave as if their OFAC risk level is higher than it actually is.
While it doesn't mean that OFAC pertains only to financial institutions, I agree that many of the examples shown on treas.gov/offices/enforcement/ofac do pertain to financial institutions. While OFAC doesn't say so, I think it's reasonable to infer that financial institutions are an industry where OFAC desires a high level of monitoring for compliance with the regulations.
From your info: "Q: Who must comply with OFAC regulations? A: All U.S. persons must comply with OFAC regulations, including all U.S. citizens and permanent resident aliens regardless of where they are located, all persons and entities within the United States, all U.S. incorporated entities and their foreign branches."
So, a private citizen could be arrested for selling his used Mercury to a terrorist.
What an idiotic law this is.
Obviously, this is a law that could be used aganist someone to tie their life up in the Federal courts.
I agree that OFAC's wording is enough to give pause. Some aspects of the regulations are new within about the past five years and judicial clarifications may be yet to come. Obviously, whether it reaches the idiotic threshold is for each citizen to judge individually. I'll submit, though, that if I sell my used Mercury to someone who is reasonably suspected by OFAC of being willing to give his life to cause a plane loaded with U.S. citizens to make sudden contact with a large immobile object located on sovereign U.S. soil, I will respect your right to tell me that I should have taken 10 minutes to run his name through the SDN list and the NS-PLC list before I signed off on the title.
The practical note is to remember to keep it in the context of OFAC's risk assessment guidelines, and appreciate that anyone having the computer hardware needed to participate on Edmunds already has all the tools needed to conduct the name matching search of the SDN list and the NS-PLC list.
The dealer called me toady and said a possible reason for the delay is that Kia is consolidating ports. I thought the new Sorento's were all built & shipped from their new plant in Georgia.
This is just conjecture, but I think you're right that they're assembled here. However, I suspect that many of the parts are shipped from Korea.
MODERATOR /ADMINISTRATOR Find me at kirstie_h@edmunds.com - or send a private message by clicking on my name. 2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h) Review your vehicle
"I have to think that in today's market, the dealer would not let a real buyer walk over the refusal to sign" (their privacy policy).
While the market may have changed since Oregonboy posted, I can give one data point. In the market of August 2010, I was presented with a so-called privacy policy that I found unacceptable. I declined to proceed with the deal unless the dealer (a state licensed new vehicle dealer) agreed to modify the policy to be more mutually acceptable.
When the dealer refused to make any modifications, I walked and he let me. Obviously, the dealer is the only one who can say whether he considered me a real buyer. However, the context is that an agreed upon buyer's order had been filled-out and printed for signing. The salesman, and his manager, were well aware that I was in the showroom, with verified funding in hand, prepared to take delivery of a specific vehicle on that day. If that's not a real buyer, I'd like to hear the definition.
To call the policy that I objected to a privacy policy is laughable. Calling it a non-privacy policy would be closer. Essentially it was a document that notified me that the dealer would give any of the content of my credit report to anyone that he wished, at any current or future time that he wished, for any purpose that he wished, and opting out was not allowed. Whether he would knowingly give it to an identify thief is not the only consideration. There was nothing about the deal that required him to give any of my personal information to anyone except the DMV. This kind of personal information is an item of value. Others will pay for it, for any number of advertising and marketing purposes, regardless of whether it actually enables them to sell me anything.
Anyone who would try to draw a parallel between this dealer's privacy policy and those that accompany credit card applications or are used by medical personnel is misinformed, at best. Credit card companies are required to give customers the choice of opting out of having their personal information shared with marketing affiliates. The HIPPA language that governs the use of personal medical information sets restrictions that are tighter than even those that govern credit card issuers.
I have bought elsewhere, a new vehicle of a different brand, from a licensed dealer, under a much more reasonable privacy policy. So, my experience is consistent with Isell's post. That is, privacy policies do vary, in substantial ways, between franchised new vehicle dealerships. I wonder if the more accurate statement is that all dealers who operate under one franchisor and/or distributor, within a given state or region, have the same privacy policy.
Can anyone give information on what role the franchisors, distributors, and state regulators / DMV's play in setting the privacy policy of their dealers?
I know dealers like to sell what they already have in stock. Second choice is to trade with another nearby dealer. But is it possible to special order a Subaru from the Indiana factory? I want a Legacy 2.5i Limited in a specific color with specific options, and there are none at any nearby dealers. In fact, there are none with even similar options nearby.
I know of several people who apparently placed special orders with specific combinations of options on the new Legacy. My friend plans on special ordering a 2011 WRX in the somewhat near future, and has already spoken with the dealer, so it is certainly possible on at least that model line.
2025 Jetta GLI Autobahn, 2024 Jeep Grand Cherokee 4xE
This was the first month they came out (April '01). At that time, there really were none sitting on lots. Each dealer I visited had 1 demo and that was it. The first dealer wanted full sticker no matter what ... even for the demo. I emailed all subaru dealers in the state, stating my intent to buy, the exact combo I wanted, and to give me their best offer. I only received one good reply with a price that split the difference between invoice and sticker, so that's who I ordered through.
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
Any chance of getting a auto loan without a job? Looking at a 35K vehicle and can put substantial down payment if necessary. Credit at the 3 majors is approx. 812. No lates or derogs. Only revolving debt is small house payment. Have approx 400K in verifiable cash. Just between jobs/contracts. Want to take advantage of yr end low interest financing and deals. Prefer not to pay cash for the car at present which I normally do. I'm in So. Cal. Specifically looking at Infiniti G37 or G25. Any Infiniti dealers care to respond?
Why don't you just buy it outright if you're sitting on that amount of cash? It's by far the cheapest was to buy a car and interest rates on cash deposits totally sucks right now anyway.
Well, let me back up. I'm not a dealer, so I wonder how many other people here feel that having no job + buying a new car don't go together anyway.
I don't think this is the place where infiniti dealers hang out in mass numbers. Why not just call the dealership and ask to speak with someone in finance?
Have approx 400K in verifiable cash. Just between jobs/contracts.
Verifiable cash? Is there any other type of cash? What type of contracts do you do?
I am assuming you are an IT contractor. Don't tell the dealer you don't have a job/contract. If you are a 1099, just put down your company name on the credit app, and they can call you for employment verification. If you worked for W2 for another company, just give them the name of that company. With your credit score I doubt they will verify employment. If they do, you might have to return the car, just make sure you don't have a trade-in. Or, you can give them a deposit and have them hold the car until your loan is approved. Make sure you buy on a weekday, you might get an instant approval.
hile he might have the cash it may not be liquid. He may have the cash in CD's and would pay a penalty if closed early. It might be held in trust and he cannot access it.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
Hi all, I've got a little dilemma... I'm looking to finalize a trade with a dealer in Massachusetts, who says I need the title to my current car to complete the trade. The problem is that my current car is registered in Vermont and is old enough that it wasn't issued a title in VT. I explained this to the sales rep, but he says that he needs the title according to Massachusetts law.
The especially weird part is this: I've still got the title from the previous owner, where it happened to be in Massachusetts. The sales rep says the trade can proceed if I get the previous owner to come in with me and sign the title over to the dealership. But isn't that title essentially null-and-void now, even though the car's new state decided it was too old to issue a new one? And how can I proceed with the trade if the state the car is registered in won't issue a title?
I was just rear-ended by a hit-and-run driver, probably 4-5k in damages.
A month ago, I had a not-at-fault wreck (other driver's insurance paid). I'm scared this wreck will send my insurance co. over the edge as far as insuring me goes, because I've also had a couple of tickets in the last 3 years. Should I just trade my 3-year-old Nissan in "as is" and take a big hit on its value with the Nissan dealer? Or should I get it fixed first, knowing my insurance co. will raise my premiums and/or non-renew (they're tough).
i recently replaced the engine, spark plugs, fuel pump, and temperature sensor and i got the fuel pump replaced one day and the next day the car stops on the highway and i had the guy who fixed it check the car and he said the fuel pump is running and 2 other people have told me the same. and the car cranks sometimes and goes back out and right now the battery is dead and my key is stuck could someone please give me some advice
Comments
The world we live in today.
What does the process consist of? Is it the same as checking to see if your name is on the SDN list?
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
“The Office of Foreign Assets Control ("OFAC") of the US Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the proliferation of weapons of mass destruction, and other threats to the national security, foreign policy or economy of the United States. OFAC acts under Presidential national emergency powers, as well as authority granted by specific legislation, to impose controls on transactions and freeze assets under US jurisdiction. Many of the sanctions are based on United Nations and other international mandates, are multilateral in scope, and involve close cooperation with allied governments.
It definately does include terrorists.
Other than regretting that they're necessary, I have no problem with their goals, but I'm not understanding how either program relates to buying a car.
When to trade my leased G6. Expires: 07/11. Currently have 35,670miles.
4door, leather, roof, 4cyl, xm, changer. Everything except the V6 and fog lights.
I stopped by my dealership. They were more than helpful in getting me a
"dealer buy out quote". I am not sure if I can legally put that number here,
My sheet states I cannot disclose it?
Based on KBB
Condition Value
Excellent
$9,825 My car would be in excellent condition.
Good
$9,200
Fair
$8,100
Retail Value: $13,895
Now, I understand this number is not the one used in calculating the trade in. It is the $9,825 estimated number. But, what I will state is that my pay off is very near and ever so slightly lower than my retail value.
So this gives me a number of about $4,000 of negative equity? Now the dealer might be willing to give me more and I think they did in the Spring.
He was already asking about me trading....he was like, we could get you into a Regal. A sharp car, but I really want away from GM if I can. Plus, it is a 4cyl.
11 payments left!!! Whoohoo!
Let me know what you all think! Thanks again!
You are responsible for the remaining payments.
It's a Pontiac.
It's a 4 cylinder Pontiac.
It's a high mileage Pontiac.
Assuming your 4000.00 negative amount is correct, you will either have to write a check for that 4000.00 or **some** of it may be rolled into another car.
Or, you can ride out the next 11 months. At the end, you will probably be way over on miles and you will have to write a check for the excessive miles at, probably 15 cents a mile.
No good solution here for you.
If you decide to lease again, pick a model unlike a domestic car that doesn't have extreme deprecation and have them set up your lease for the number of miles you expect to be driving.
I think it'll all work out. Life happens. Thanks
You don't need to be sorry I was only trying to let you know what your options were.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
For U.S. domestic transactions (not importing / exporting) the obligation under OFAC is to determine whether the name of any party to the transaction appears on the SDN list or on the NS-PLC list. Both lists can be viewed, and downloaded, free of charge, from the OFAC website. Instructions for using Adobe, and similar, software to conduct the search are included.
The OFAC obligation is unaffected by the method of payment (financed vs cash). Also, the OFAC obligation is the same for all parties to the transaction. In other words, the purchaser has the same obligation to search the SDN and NS-PLC lists for the name of the seller as the seller has to search for the name of the purchaser. For OFAC purposes, corporations are treated as people, so when buying from a corporation (which most dealerships are), the name of the corporation should be entered as a search term.
They just jokingly refer to it as something they have to present to see if you're a good guy or bad guy (whatever that means).
I bought new a few months back and gotta say, if I saw the form I don't remember it. Par for the course though, as there are a lot of forms to sign (and I paid cash).
2013 Mustang GT, 2001 GMC Yukon Denali
In order to prepare it for signing, the purchase contract is filled out with the name of the seller (corporation and/or person) and the name of the purchaser. For OFAC purposes, the seller has an obligation to search the SDN list and the NS-PLC list for the name of the purchaser, and has additional obligations in the (unlikely) event that the search returns a matching name. The purchaser has the same obligation regarding the seller.
My understanding is that OFAC doesn't require documentation of the search results when a name match is not found, although I think I would keep a copy of the version of the SDN list and the NS-PLC list that I used for my search. Just in case of the (unlikely) event that the OFAC status of the transaction were to be challenged at a future time.
OFAC does revise the SDN list and the NS-PLC list periodically. It is possible that the name of any of the parties to a given transaction could be absent from the lists at the time the transaction was completed and present on one of the lists at a later time. Possibly previous versions of the SDN list and/or the NS-PLC list can be obtained from OFAC; I haven't looked into that aspect.
From a brief look at a Treasury site, it looks to me like the regulations do not cover individual transactions, unless maybe you are going to export a vehicle.
What I think I see are regulations covering 'financial institutions'. If you are one of these, I think you should be asking such questions somewhere else, rather than a general auto forum.
I'm not trying to be nasty or unhelpful, but I personally don't understand what kind of help you are looking for.
My question is how often do Kia dealers receive new inventory and is there any way for them to have a set date on when they'll get my model in stock? Or are they just feeding me a line to keep me waiting?
I have done searches from other dealers and I don't think they're lying to me about not being able to find one. But is there any way to know if they're lying about having one come in "any time"?
If they have a VIN number, that means the car has been built and that it's in transit to them. They can't know exactly when it'll actually drop. The transport companies are usually pretty predictable but it can vary by days. If it's been three weeks it's probably going to drop this week. You might want to put a deposit on it if you haven't already done so.
I used to pad my delivery estimates by at least a week after I took a deposit. If I didn't do this, they would call and bug me and get impatient. If I called them a week early to give them the good news their car had arrived early they were always very happy.
I'm not sure that I fully understand what you mean by "individual" transactions, but OFAC does apply to all transactions (exchange of items of value, including vehicles and money) in which any party (individual or otherwise) is subject to the jurisdiction of U.S. regulation. An excerpt from the OFAC FAQ (treas.gov/offices/enforcement/ofac) reads:
"Q: Who must comply with OFAC regulations?
A: All U.S. persons must comply with OFAC regulations, including all U.S. citizens and permanent resident aliens regardless of where they are located, all persons and entities within the United States, all U.S. incorporated entities and their foreign branches."
That said, Treasury acknowledges that different transactions have different OFAC risk levels and obligations. The Treasury guidelines for measuring OFAC risk are too lengthy for me to post here, but I believe it's a fair summary to say that most U.S. domestic transactions (including U.S. domestic vehicle sales) are low risk, while most international wire transfers are high risk.
Treasury does not generally advise any one person (or corporation) what their OFAC risk level is regarding any one transaction before the transaction has begun. Taken together with the complexity of the OFAC regulations, this means it's possible for any person / corporation to misjudge their OFAC risk level. The misjudgment can occur in either direction. For example, a U.S. vehicle seller may be unaware that OFAC exists and behave as if their OFAC risk level is lower than it actually is. On the other hand, a U.S. vehicle seller who mostly engages in U.S. domestic sales may be influenced by marketing information from interested third parties to behave as if their OFAC risk level is higher than it actually is.
While it doesn't mean that OFAC pertains only to financial institutions, I agree that many of the examples shown on treas.gov/offices/enforcement/ofac do pertain to financial institutions. While OFAC doesn't say so, I think it's reasonable to infer that financial institutions are an industry where OFAC desires a high level of monitoring for compliance with the regulations.
From your info: "Q: Who must comply with OFAC regulations?
A: All U.S. persons must comply with OFAC regulations, including all U.S. citizens and permanent resident aliens regardless of where they are located, all persons and entities within the United States, all U.S. incorporated entities and their foreign branches."
So, a private citizen could be arrested for selling his used Mercury to a terrorist.
What an idiotic law this is.
Obviously, this is a law that could be used aganist someone to tie their life up in the Federal courts.
The practical note is to remember to keep it in the context of OFAC's risk assessment guidelines, and appreciate that anyone having the computer hardware needed to participate on Edmunds already has all the tools needed to conduct the name matching search of the SDN list and the NS-PLC list.
I wouldn't do business with someone who called me a toady. :P
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
MODERATOR /ADMINISTRATOR
Find me at kirstie_h@edmunds.com - or send a private message by clicking on my name.
2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h)
Review your vehicle
While the market may have changed since Oregonboy posted, I can give one data point. In the market of August 2010, I was presented with a so-called privacy policy that I found unacceptable. I declined to proceed with the deal unless the dealer (a state licensed new vehicle dealer) agreed to modify the policy to be more mutually acceptable.
When the dealer refused to make any modifications, I walked and he let me. Obviously, the dealer is the only one who can say whether he considered me a real buyer. However, the context is that an agreed upon buyer's order had been filled-out and printed for signing. The salesman, and his manager, were well aware that I was in the showroom, with verified funding in hand, prepared to take delivery of a specific vehicle on that day. If that's not a real buyer, I'd like to hear the definition.
To call the policy that I objected to a privacy policy is laughable. Calling it a non-privacy policy would be closer. Essentially it was a document that notified me that the dealer would give any of the content of my credit report to anyone that he wished, at any current or future time that he wished, for any purpose that he wished, and opting out was not allowed. Whether he would knowingly give it to an identify thief is not the only consideration. There was nothing about the deal that required him to give any of my personal information to anyone except the DMV. This kind of personal information is an item of value. Others will pay for it, for any number of advertising and marketing purposes, regardless of whether it actually enables them to sell me anything.
Anyone who would try to draw a parallel between this dealer's privacy policy and those that accompany credit card applications or are used by medical personnel is misinformed, at best. Credit card companies are required to give customers the choice of opting out of having their personal information shared with marketing affiliates. The HIPPA language that governs the use of personal medical information sets restrictions that are tighter than even those that govern credit card issuers.
I have bought elsewhere, a new vehicle of a different brand, from a licensed dealer, under a much more reasonable privacy policy. So, my experience is consistent with Isell's post. That is, privacy policies do vary, in substantial ways, between franchised new vehicle dealerships. I wonder if the more accurate statement is that all dealers who operate under one franchisor and/or distributor, within a given state or region, have the same privacy policy.
Can anyone give information on what role the franchisors, distributors, and state regulators / DMV's play in setting the privacy policy of their dealers?
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
Just curious, what effect did that have on the price? Could you have gotten a better price on a unit with the same MSRP that was on the lot?
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
Credit at the 3 majors is approx. 812. No lates or derogs. Only revolving debt is small house payment. Have approx 400K in verifiable cash. Just between jobs/contracts. Want to take advantage of yr end low interest financing and deals. Prefer not to pay cash for the car at present which I normally do.
I'm in So. Cal. Specifically looking at Infiniti G37 or G25. Any Infiniti dealers care to respond?
Thanks in advance from all dealers who respond.
Well, let me back up. I'm not a dealer, so I wonder how many other people here feel that having no job + buying a new car don't go together anyway.
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Verifiable cash? Is there any other type of cash? What type of contracts do you do?
I am assuming you are an IT contractor. Don't tell the dealer you don't have a job/contract. If you are a 1099, just put down your company name on the credit app, and they can call you for employment verification. If you worked for W2 for another company, just give them the name of that company. With your credit score I doubt they will verify employment. If they do, you might have to return the car, just make sure you don't have a trade-in. Or, you can give them a deposit and have them hold the car until your loan is approved. Make sure you buy on a weekday, you might get an instant approval.
Maybe he doesn't want to bust up a CD that is paying 5%?
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hile he might have the cash it may not be liquid. He may have the cash in CD's and would pay a penalty if closed early. It might be held in trust and he cannot access it.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
The especially weird part is this: I've still got the title from the previous owner, where it happened to be in Massachusetts. The sales rep says the trade can proceed if I get the previous owner to come in with me and sign the title over to the dealership. But isn't that title essentially null-and-void now, even though the car's new state decided it was too old to issue a new one? And how can I proceed with the trade if the state the car is registered in won't issue a title?
I've still got two CDs at 5%... through 2011...
If I needed the money to buy a car, then I'd certainly take the 0.9%, rather than pull the money from the CD...
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A month ago, I had a not-at-fault wreck (other driver's insurance paid). I'm scared this wreck will send my insurance co. over the edge as far as insuring me goes, because I've also had a couple of tickets in the last 3 years. Should I just trade my 3-year-old Nissan in "as is" and take a big hit on its value with the Nissan dealer? Or should I get it fixed first, knowing my insurance co. will raise my premiums and/or non-renew (they're tough).
Any advice or experience appreciated.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D