Understanding Dealership Transactions on DealerCONNECT

DealerCONNECT and Bailment

DealerCONNECT: DealerCONNECT is a proprietary platform used by dealerships for managing their inventory, facilitating transactions, and communicating with manufacturers. It serves as a central hub for dealership operations.

Bailment: Bailment refers to the temporary possession of goods without ownership. In this context, the dealership acts as the bailee, meaning they have custody and responsibility for the unit while it is in their possession.

Recording the Transaction

When a dealership accepts a unit from a bailment pool on DealerCONNECT, they document the transaction in their system. This record includes details such as the unit's identification, condition, and transfer of responsibility.

Assuming Responsibility

The dealership takes on legal and physical responsibility for the vehicle once they accept it from the bailment pool. This responsibility includes care, maintenance, and protection of the unit until it is sold or otherwise disposed of.

By participating in these transactions on DealerCONNECT, dealerships streamline their operations, keep accurate records of their inventory, and ensure transparency in their dealings with manufacturers and other parties.