ACM Risk Consultants (Pty) Ltd’s Post

We knew that there were a lot of bakkies available in South Africa, but we didn't realise quite how many. https://bit.ly/3STFZfZ #motorindustry #carlifestyle #cardealer #newcars

An extract from the #FAIS Ombud June 2024 Newsletter. Insurance aims to restore you to the position you were in before a loss occurred. Therefore, ensuring your vehicle is adequately insured is crucial, which includes specifying all extras fitted to the vehicle. Comprehensive motor vehicle insurance typically covers up to the retail value of your vehicle, inclusive of factory fitted items included in the listed price. The dealer invoice serves as a guide; for instance, specific vehicle models may come standard with leather seats. However, any factory fitted extras specifically ordered need to be detailed separately with their correct replacement costs noted for each item. These extras are usually listed separately on the dealer invoice. While specifying these items may incur an additional premium, it provides peace of mind that you will be adequately covered in the event of any losses. Consulting the dealer invoice is crucial, as these items are typically listed separately from the purchase price. When insuring a used vehicle, it is important to ascertain the exact specifications, including which factory fitted items were standard, included in the purchase price, or added either before or after delivery. This proactive approach ensures that your insurance accurately reflects the value and specifications of your vehicle, offering comprehensive protection tailored to your needs. As a client or as a dealer, ensure that vehicles are fully covered. #motorinsurance #FinancialServicesIndustry #cardealership #treatcustomersfairly

Have you read our Handbooks? They are chock full of tips and information for the motor dealer and F&Is. Find them at: https://bit.ly/4b1r7m9 #motorinsurance #FinancialServicesIndustry #dealership #FAIS

Here is a Blast from the Past! “Low Mileage Toyota Hiace Super 10 is a Time Capsule into 1975.” https://bit.ly/4dES942 #carlifestyle #drive #vehicles #usedcarsales

Buying (or selling) cars? Does FICA (Financial Intelligence Centre Act) affect you? You bet it does. Read “Buying a snazzy watch or car? This is how FICA rules will impact the deal” at: https://bit.ly/3WVLlJQ #FICA #FinancialServicesIndustry #motordealers #cardealership

Do you, as a dealer, not want the responsibilities of a Financial Service Provider? The service that ACM provides ensures that all commissions and margins generated by you Finance and Insurance providers go directly to the dealership, at the same time removing all the dealership’s FSP responsibilities. No more FSP, no more Juristic Representative and no more demands from the financial services regulator. Have a chat with us and we can show you how: https://bit.ly/4aypxrC #motorinsurance #NationalCreditAct #FinancialServicesIndustry #motordealers #NationalCreditAct #FAIS #FSCA

Joburg to Durban on one charge! E-Audi coming to South Africa in hot form! “Audi A6 e-tron Officially Unveiled and Coming to SA in 2025” https://bit.ly/4d2cKzD #carlifestyle #drive #vehicles #newcars

Should a client believe that they have been financially prejudiced because of the financial service rendered to them in respect of a regulated financial product, they can lodge a complaint on the FAIS ombud website or submit it in writing. Section 2 of the #FAIS Act states “A provider must at all times render financial services honestly, fairly, with due skill, care and diligence, and in the interests of clients and the integrity of the financial services industry.” As a dealer are your staff following the necessary guidance and regulations? Have a chat with the motor compliance experts, ACM: https://bit.ly/4aypxrC #FinancialServicesIndustry #motordealers #FSCA #treatcustomersfairly

The Financial Action Task Force has expressed its satisfaction with South Africa’s progress in the grey list process. For more information, see the media statement issued by National Treasury: https://bit.ly/4dp7PIT #FICA #FinancialServicesIndustry #motordealers #compliance

Whatever your opinion on whether South Africa is ready for EVs or not, there is a reasonably priced EV available. Read about the lowest priced EV here: https://bit.ly/3WhgW7w #carlifestyle #drive #vehicles #newcars