How long must a dealer retain Report of Sale (ROS) records?

Dealers are required to retain Report of Sale (ROS) records for at least 4 years in order to ensure compliance with state regulations and to maintain accurate documentation of vehicle transactions. This retention period is crucial as it allows for verification of the sale in case of disputes, recalls, or for future reference regarding ownership history. Keeping these records for a minimum of 4 years provides a reasonable timeframe for potential audits and protects both the dealer and the consumer by ensuring there is documentation available in case of any issues that arise after the sale. This practice encourages accountability and transparency in the used car market, allowing for trust in transactions between dealers and customers.