Automotive Compliance will be holding free Gap Rule Change Roadshows for retail motor dealers to cover the forthcoming regulation change in September.
The company is offering an open invitation to dealers who want a greater understanding of the new ruling which takes effect from September 1.
Paul Guy, managing director of Automotive Compliance, said: “The new rules taking effect on September 1 will have a major impact on the way in which a motor dealer sells gap insurance and represents a significant change to the industry. We have to change the way in which this product is sold, which for most dealers generates an important revenue stream.
“The most significant of these changes leading to the most confusion is around the understanding of the four-day deferred period between prescribed information being given out and the order being taken, which will mean every dealer having to change their sales process and procedures.
“Anyone who does not will fall foul of the regulator, already confirmed additional field staff will be in place to ensure rules are followed.”
The roadshows will be a two-hour session, where the changes will be outlined in motor trade terminology that can be translated directly into the showroom process.
Three dates have been announced so far:
- August 18 at the Holiday Inn, Bristol Filton, at 10.30am-2.30pm and 2.30-4.30pm
- August 19 at the Holiday Inn, Stoke-on-Trent, at 10.30am-12.30-pm and 2.30-4.30pm
- August 20 at the Holiday Inn, Bexley Heath, at 10.30am-12.30pm and 2.30-4.30pm
It is aimed at directors and dealership management involved in dealership FCA activity, and registration can be found via the company website at www.automotive-compliance.co.uk.