What does the Transaction Fee Program require dealers to remit for each vehicle sold or leased?

The Transaction Fee Program mandates that dealers remit a fee of $10 for each vehicle sold or leased. This fee is part of the regulatory framework designed to ensure that dealerships contribute to the oversight and services provided by the regulatory body governing the motor vehicle industry. It is important for dealers to be aware of this requirement as failing to remit the correct fee can result in penalties and affect their business practices. By collecting this fee, the program helps maintain standards and create a level of accountability within the industry, ultimately benefiting consumers and enhancing their buying experience. Understanding this fee structure is essential for dealers to remain compliant with regulatory expectations.