POLICIES
Purchase and Sale of Vehicles and Service Discounts for Team Members and Immediate Family Policy Asbury encourages Team Members and their family and friends to purchase vehicles and other products and services from Asbury dealerships. The purchase and sale of vehicles by Team Members or their immediate family Members requires company approval. Team Members’ immediate family includes a spouse/domestic partner, children/stepchildren, in-laws, parents/stepparents, grandparents/step grandparents, grandchildren/step grandchildren, brothers/stepbrothers, sisters/ stepsisters, or any other relative residing in your household. For our current Vehicle and Service Discount policy, please reach out to your local HR Manager.
Team Member
Written Approval Of: GM and MMD/RVP
Dealership Team Members
GMs
SVP of Operations or MMD/RVP SVP of Operations or MMD/RVP
Corporate and Non-Dealership
54 No policy should be construed to confer any express or implied contractual relationship or rights to any Team Member. The Company reserves the right to modify any policy as necessary, in its sole discretion, to the extent permitted by law. Violation of any Company policies or procedures can result in disciplinary action up to and including termination of employment. If you have any questions about this handbook or Company policies, please feel free to discuss with your Manager or HR. Team Member purchases utilizing the discount are capped at 2 vehicle purchases per year. While completing the annual Code of Business Conduct and Ethics Questionnaire, applicable Team Members must disclose all new and used vehicles sold to or purchased from the Company during the preceding year. The MMD/RVP, GM and Accounting Manager will carefully review all Team Member and immediate family member deals for the following: • “Running your own deal” is a conflict of interest. When a Team Member or immediate family member is the Guest, that Team Member may not act on behalf of the dealership in that transaction. For example: • A Team Member may not set the sale price of a vehicle s/he is purchasing. • A Team Member may not set the trade value of a vehicle s/he is trading in. • The employee trade value must be approved by a Regional Used Vehicle Director or AVP. • A Team Member may not price his/her own products or accessories. • A Team Member may not submit his/her own credit application to a lender. • Paperwork must be handled by someone other than the Team Member buying the vehicle. For example, F&I Managers may not generate forms and accounting office Team Members may not post or compliance deals for his/her own purchase. • Under no circumstances shall any employee enter any information into any of ABG’s digital systems (ie, Dealertrack, CDK, Eleads,Vauto) on a purchase for themselves or a family member. • Team Members receive all the same disclosures as other Guests (privacy, risk-based pricing, CarFax, etc.) • An OFAC must always be done • Payment rules remain the same for Team Members (hold checks, credit card down payments, etc.) • All OEM guidelines (rebates, COP, RDR, etc.) must be observed • Lender must never be misled • Do not give cash back to the Team Member except on positive trade equity • Do not hide negative equity Inflated time-on-job, job title or income are particularly egregious when the borrower is our Team Member.
Made with FlippingBook flipbook maker