What must be included in the secure records storage of a retail dealer?

The key focus for secure records storage in a retail dealership is ensuring that essential documents related to transactions and ownership are properly safeguarded. Contracts and vehicle titles are critical to the operation of a used car dealership because they establish legal ownership and terms of sale for the vehicles. Storing these documents securely protects both the dealership and the customers in case of any disputes or legal issues.

In the case of contracts, they outline the agreements made between the dealership and the customers, thus serving as a binding commitment. Vehicle titles are important as they transfer ownership and must be correctly maintained and accessible in order to comply with state regulations. Therefore, ensuring the secure storage of these documents mitigates risks and supports a legally compliant business operation.