Dealer Conveyance Fees Charged by New and Used Car Dealers ...
Dealer Conveyance Fees Charged by New and Used Car Dealers in
Connecticut and Related Information
Report to Transportation Committee Required by Public Act 15-5, Section 428
(June Special Session)
January 15, 2016
By Legislative Program Review and Investigations Committee
Connecticut General Assembly State Capitol Room 506 Hartford, CT 06106
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Highlights of Dealer Conveyance Fee Report
? Section 428 of PA 15-5 JSS required this report by the Legislative Program Review and Investigations Committee (PRI), in addition to requiring new and used car dealers to submit dealer conveyance fee information to the legislature via PRI on a one-time basis by November 1, 2015.
? Most new and used license holders provided information for this survey. o The survey response rate for licensed new and used car dealers was 87% and 76%, respectively, with an overall response rate of 78%.
? Dealers selling new cars charge a higher dealer conveyance fee than dealers selling used cars or other motor vehicles (e.g., motorcycles, RVs). The average dealer conveyance fee for dealers selling: o new cars was $405 (range of $0 to $699); o used cars was $131 (range of $0 to $695); and o other motor vehicles, $119 (range of $0 to $499).
? Over 80% of new car dealers charge over $300, and over 70% of used car dealers charge under $199.
? No dealer conveyance fee is charged by 47% of used car dealers, 45% of other motor vehicles, and just 5% of new car dealers.
? For most dealers, there was little variability from month to month in the average dealer conveyance fee paid by customers from October 2014 through September 2015. o Dealers who commented on reasons for month-to-month fee variability largely said it was because they: increased fees during the period (30%), discounted the fee when customers registered the vehicle (25%), or negotiated with customers (11%).
? When the average dealer conveyance fee was compared among dealers by county, the fees did not vary significantly by counties.
? The dealer conveyance fee law requires dealers who charge a fee to reduce that fee by a proportional amount when the buyer elects, "as appropriate," to submit documentation to DMV to register and transfer ownership of a vehicle. o The average amount deducted by new car dealers was $58 (average of 14% of dealer conveyance fee). o The average amount for used car dealers was higher at $91 (average of 40% of dealer conveyance fee).
? When dealers were asked how the fee was calculated, the most frequent responses were: o an itemization of activities or supplies that were used to calculate the fee (36%), such as, paperwork, wait in DMV line, gas, salaries, and emissions; o costs divided by the number of vehicles sold (24%); and o based on competitors' prices (11%).
Dealer Conveyance Fee Report by Program Review and Investigations Committee Per PA 15-5 JSS: 1/15/16
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