Economy, Auto
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Car Presales Need License

Car Presales Need LicenseCar Presales Need License

A deputy industries, mining and trade minister has announced that companies are allowed to pre-sell cars only with the express permission of the ministry. Mahmoud Navabi added that the notification of executive regulations and the recently updated customer protection protocols require all car dealers and registered sellers to obtain a license before they take customers' money, with a maximum deposit of 50% of the final vehicle price allowed as of now. Navabi also said the maximum waiting period for buying a car now must not exceed 30 days; previously the number was up to several months, Mehr News Agency reported.  The reason for the change in procedures comes, as hundreds of car buyers around Iran are being shortchanged by private dealers who take large sums of money.  The new law will not only affect people buying cars but also includes buyers of motorcycles and light/medium/heavy goods vehicles. Car buyers are entitled to lodge a complaint against violators with the ministry. 

Financialtribune.com