A. Every trailer dealer shall complete, in duplicate, a buyer's order foreach sale or exchange of a vehicle. A copy of the buyer's order form shall bemade available to a prospective buyer during the negotiating phase of a saleand prior to any sales agreement. The completed original shall be retainedfor a period of four years in accordance with § 46.2-1992.22, and a duplicatecopy shall be delivered to the purchaser at the time of sale or exchange. Abuyer's order shall include:
1. The name and address of the person to whom the vehicle was sold or traded.
2. The date of the sale or trade.
3. The name and address of the trailer dealer selling or trading the vehicle.
4. The make, model year, vehicle identification number and body style of thevehicle.
5. The sale price of the vehicle.
6. The amount of any cash deposit made by the buyer.
7. A description of any vehicle used as a trade-in and the amount creditedthe buyer for the trade-in. The description of the trade-in shall be the sameas outlined in subdivision 4 of this subsection.
8. The amount of any sales and use tax, title fee, uninsured motor vehiclefee, registration fee, or other fee required by law for which the buyer isresponsible and the dealer has collected. Each tax and fee shall beindividually listed and identified.
9. The net balance due at settlement.
10. Any item designated as "processing fee," and the amount charged by thedealer, if any, for processing the transaction. As used in this sectionprocessing includes obtaining title and license plates for the purchaser, butshall not include any "purchaser's on-line systems filing fee" as definedin § 46.2-1992.23:1 or any "dealer's manual transaction fee" as defined in§ 46.2-1992.23:2.
11. Any item designated as "dealer's business license tax," and the amountcharged by the dealer, if any.
12. If the dealer delivers to the customer a vehicle purchased by thecustomer on or after July 1, 2010, that is conditional on dealer-arrangedfinancing, the following notice, printed in bold type no less than 10 point:"IF YOU ARE FINANCING THIS VEHICLE, PLEASE READ THIS NOTICE. YOU AREPROPOSING TO ENTER INTO A RETAIL INSTALLMENT SALES CONTRACT WITH THE DEALER.PART OF YOUR CONTRACT INVOLVES FINANCING THE PURCHASE OF YOUR VEHICLE. IF YOUARE FINANCING THIS VEHICLE AND THE DEALER INTENDS TO TRANSFER YOUR FINANCINGTO A FINANCE PROVIDER SUCH AS A BANK, CREDIT UNION OR OTHER LENDER, YOURVEHICLE PURCHASE DEPENDS ON THE FINANCE PROVIDER'S APPROVAL OF YOUR PROPOSEDRETAIL INSTALLMENT SALES CONTRACT. IF YOUR RETAIL INSTALLMENT SALES CONTRACTIS APPROVED WITHOUT A CHANGE THAT INCREASES THE COST OR RISK TO YOU OR THEDEALER, YOUR PURCHASE CANNOT BE CANCELLED. IF YOUR RETAIL INSTALLMENT SALESCONTRACT IS NOT APPROVED, THE DEALER WILL NOTIFY YOU VERBALLY OR IN WRITING.YOU CAN THEN DECIDE TO PAY FOR THE VEHICLE IN SOME OTHER WAY OR YOU OR THEDEALER CAN CANCEL YOUR PURCHASE. IF THE SALE IS CANCELLED, YOU NEED TO RETURNTHE VEHICLE TO THE DEALER WITHIN 24 HOURS OF VERBAL OR WRITTEN NOTICE IN THESAME CONDITION IT WAS GIVEN TO YOU, EXCEPT FOR NORMAL WEAR AND TEAR. ANY DOWNPAYMENT OR TRADE-IN YOU GAVE THE DEALER WILL BE RETURNED TO YOU. IF YOU DONOT RETURN THE VEHICLE WITHIN 24 HOURS OF VERBAL OR WRITTEN NOTICE OFCANCELLATION, THE DEALER MAY LOCATE THE VEHICLE AND TAKE IT BACK WITHOUTFURTHER NOTICE TO YOU AS LONG AS THE DEALER FOLLOWS THE LAW AND DOES NOTCAUSE A BREACH OF THE PEACE WHEN TAKING THE VEHICLE BACK. IF THE DEALER DOESNOT RETURN YOUR DOWN PAYMENT AND ANY TRADE-IN WHEN THE DEALER GETS THEVEHICLE BACK IN THE SAME CONDITION IT WAS GIVEN TO YOU, EXCEPT FOR NORMALWEAR AND TEAR, THE DEALER MAY BE LIABLE TO YOU UNDER THE VIRGINIA CONSUMERPROTECTION ACT."
A completed buyer's order when signed by both buyer and seller may constitutea bill of sale.
B. The Commissioner shall approve a buyer's order form and each dealer shallfile with each original license application its buyer's order form, on whichthe processing fee amount is stated.
C. If a processing fee is charged, that fact and the amount of the processingfee shall be disclosed by the dealer. Disclosure shall be by placing a clearand conspicuous sign in the public sales area of the dealership. The signshall be no smaller than eight and one-half inches by eleven inches and theprint shall be no smaller than one-half inch, and in a form as approved bythe Commissioner.
(1996, cc. 1043, 1052; 2000, c. 116; 2009, c. 60; 2010, c. 359.)
A. Every trailer dealer shall complete, in duplicate, a buyer's order foreach sale or exchange of a vehicle. A copy of the buyer's order form shall bemade available to a prospective buyer during the negotiating phase of a saleand prior to any sales agreement. The completed original shall be retainedfor a period of four years in accordance with § 46.2-1992.22, and a duplicatecopy shall be delivered to the purchaser at the time of sale or exchange. Abuyer's order shall include:
1. The name and address of the person to whom the vehicle was sold or traded.
2. The date of the sale or trade.
3. The name and address of the trailer dealer selling or trading the vehicle.
4. The make, model year, vehicle identification number and body style of thevehicle.
5. The sale price of the vehicle.
6. The amount of any cash deposit made by the buyer.
7. A description of any vehicle used as a trade-in and the amount creditedthe buyer for the trade-in. The description of the trade-in shall be the sameas outlined in subdivision 4 of this subsection.
8. The amount of any sales and use tax, title fee, uninsured motor vehiclefee, registration fee, or other fee required by law for which the buyer isresponsible and the dealer has collected. Each tax and fee shall beindividually listed and identified.
9. The net balance due at settlement.
10. Any item designated as "processing fee," and the amount charged by thedealer, if any, for processing the transaction. As used in this sectionprocessing includes obtaining title and license plates for the purchaser, butshall not include any "purchaser's on-line systems filing fee" as definedin § 46.2-1992.23:1 or any "dealer's manual transaction fee" as defined in§ 46.2-1992.23:2.
11. Any item designated as "dealer's business license tax," and the amountcharged by the dealer, if any.
12. If the dealer delivers to the customer a vehicle purchased by thecustomer on or after July 1, 2010, that is conditional on dealer-arrangedfinancing, the following notice, printed in bold type no less than 10 point:"IF YOU ARE FINANCING THIS VEHICLE, PLEASE READ THIS NOTICE. YOU AREPROPOSING TO ENTER INTO A RETAIL INSTALLMENT SALES CONTRACT WITH THE DEALER.PART OF YOUR CONTRACT INVOLVES FINANCING THE PURCHASE OF YOUR VEHICLE. IF YOUARE FINANCING THIS VEHICLE AND THE DEALER INTENDS TO TRANSFER YOUR FINANCINGTO A FINANCE PROVIDER SUCH AS A BANK, CREDIT UNION OR OTHER LENDER, YOURVEHICLE PURCHASE DEPENDS ON THE FINANCE PROVIDER'S APPROVAL OF YOUR PROPOSEDRETAIL INSTALLMENT SALES CONTRACT. IF YOUR RETAIL INSTALLMENT SALES CONTRACTIS APPROVED WITHOUT A CHANGE THAT INCREASES THE COST OR RISK TO YOU OR THEDEALER, YOUR PURCHASE CANNOT BE CANCELLED. IF YOUR RETAIL INSTALLMENT SALESCONTRACT IS NOT APPROVED, THE DEALER WILL NOTIFY YOU VERBALLY OR IN WRITING.YOU CAN THEN DECIDE TO PAY FOR THE VEHICLE IN SOME OTHER WAY OR YOU OR THEDEALER CAN CANCEL YOUR PURCHASE. IF THE SALE IS CANCELLED, YOU NEED TO RETURNTHE VEHICLE TO THE DEALER WITHIN 24 HOURS OF VERBAL OR WRITTEN NOTICE IN THESAME CONDITION IT WAS GIVEN TO YOU, EXCEPT FOR NORMAL WEAR AND TEAR. ANY DOWNPAYMENT OR TRADE-IN YOU GAVE THE DEALER WILL BE RETURNED TO YOU. IF YOU DONOT RETURN THE VEHICLE WITHIN 24 HOURS OF VERBAL OR WRITTEN NOTICE OFCANCELLATION, THE DEALER MAY LOCATE THE VEHICLE AND TAKE IT BACK WITHOUTFURTHER NOTICE TO YOU AS LONG AS THE DEALER FOLLOWS THE LAW AND DOES NOTCAUSE A BREACH OF THE PEACE WHEN TAKING THE VEHICLE BACK. IF THE DEALER DOESNOT RETURN YOUR DOWN PAYMENT AND ANY TRADE-IN WHEN THE DEALER GETS THEVEHICLE BACK IN THE SAME CONDITION IT WAS GIVEN TO YOU, EXCEPT FOR NORMALWEAR AND TEAR, THE DEALER MAY BE LIABLE TO YOU UNDER THE VIRGINIA CONSUMERPROTECTION ACT."
A completed buyer's order when signed by both buyer and seller may constitutea bill of sale.
B. The Commissioner shall approve a buyer's order form and each dealer shallfile with each original license application its buyer's order form, on whichthe processing fee amount is stated.
C. If a processing fee is charged, that fact and the amount of the processingfee shall be disclosed by the dealer. Disclosure shall be by placing a clearand conspicuous sign in the public sales area of the dealership. The signshall be no smaller than eight and one-half inches by eleven inches and theprint shall be no smaller than one-half inch, and in a form as approved bythe Commissioner.
(1996, cc. 1043, 1052; 2000, c. 116; 2009, c. 60; 2010, c. 359.)
A. Every trailer dealer shall complete, in duplicate, a buyer's order foreach sale or exchange of a vehicle. A copy of the buyer's order form shall bemade available to a prospective buyer during the negotiating phase of a saleand prior to any sales agreement. The completed original shall be retainedfor a period of four years in accordance with § 46.2-1992.22, and a duplicatecopy shall be delivered to the purchaser at the time of sale or exchange. Abuyer's order shall include:
1. The name and address of the person to whom the vehicle was sold or traded.
2. The date of the sale or trade.
3. The name and address of the trailer dealer selling or trading the vehicle.
4. The make, model year, vehicle identification number and body style of thevehicle.
5. The sale price of the vehicle.
6. The amount of any cash deposit made by the buyer.
7. A description of any vehicle used as a trade-in and the amount creditedthe buyer for the trade-in. The description of the trade-in shall be the sameas outlined in subdivision 4 of this subsection.
8. The amount of any sales and use tax, title fee, uninsured motor vehiclefee, registration fee, or other fee required by law for which the buyer isresponsible and the dealer has collected. Each tax and fee shall beindividually listed and identified.
9. The net balance due at settlement.
10. Any item designated as "processing fee," and the amount charged by thedealer, if any, for processing the transaction. As used in this sectionprocessing includes obtaining title and license plates for the purchaser, butshall not include any "purchaser's on-line systems filing fee" as definedin § 46.2-1992.23:1 or any "dealer's manual transaction fee" as defined in§ 46.2-1992.23:2.
11. Any item designated as "dealer's business license tax," and the amountcharged by the dealer, if any.
12. If the dealer delivers to the customer a vehicle purchased by thecustomer on or after July 1, 2010, that is conditional on dealer-arrangedfinancing, the following notice, printed in bold type no less than 10 point:"IF YOU ARE FINANCING THIS VEHICLE, PLEASE READ THIS NOTICE. YOU AREPROPOSING TO ENTER INTO A RETAIL INSTALLMENT SALES CONTRACT WITH THE DEALER.PART OF YOUR CONTRACT INVOLVES FINANCING THE PURCHASE OF YOUR VEHICLE. IF YOUARE FINANCING THIS VEHICLE AND THE DEALER INTENDS TO TRANSFER YOUR FINANCINGTO A FINANCE PROVIDER SUCH AS A BANK, CREDIT UNION OR OTHER LENDER, YOURVEHICLE PURCHASE DEPENDS ON THE FINANCE PROVIDER'S APPROVAL OF YOUR PROPOSEDRETAIL INSTALLMENT SALES CONTRACT. IF YOUR RETAIL INSTALLMENT SALES CONTRACTIS APPROVED WITHOUT A CHANGE THAT INCREASES THE COST OR RISK TO YOU OR THEDEALER, YOUR PURCHASE CANNOT BE CANCELLED. IF YOUR RETAIL INSTALLMENT SALESCONTRACT IS NOT APPROVED, THE DEALER WILL NOTIFY YOU VERBALLY OR IN WRITING.YOU CAN THEN DECIDE TO PAY FOR THE VEHICLE IN SOME OTHER WAY OR YOU OR THEDEALER CAN CANCEL YOUR PURCHASE. IF THE SALE IS CANCELLED, YOU NEED TO RETURNTHE VEHICLE TO THE DEALER WITHIN 24 HOURS OF VERBAL OR WRITTEN NOTICE IN THESAME CONDITION IT WAS GIVEN TO YOU, EXCEPT FOR NORMAL WEAR AND TEAR. ANY DOWNPAYMENT OR TRADE-IN YOU GAVE THE DEALER WILL BE RETURNED TO YOU. IF YOU DONOT RETURN THE VEHICLE WITHIN 24 HOURS OF VERBAL OR WRITTEN NOTICE OFCANCELLATION, THE DEALER MAY LOCATE THE VEHICLE AND TAKE IT BACK WITHOUTFURTHER NOTICE TO YOU AS LONG AS THE DEALER FOLLOWS THE LAW AND DOES NOTCAUSE A BREACH OF THE PEACE WHEN TAKING THE VEHICLE BACK. IF THE DEALER DOESNOT RETURN YOUR DOWN PAYMENT AND ANY TRADE-IN WHEN THE DEALER GETS THEVEHICLE BACK IN THE SAME CONDITION IT WAS GIVEN TO YOU, EXCEPT FOR NORMALWEAR AND TEAR, THE DEALER MAY BE LIABLE TO YOU UNDER THE VIRGINIA CONSUMERPROTECTION ACT."
A completed buyer's order when signed by both buyer and seller may constitutea bill of sale.
B. The Commissioner shall approve a buyer's order form and each dealer shallfile with each original license application its buyer's order form, on whichthe processing fee amount is stated.
C. If a processing fee is charged, that fact and the amount of the processingfee shall be disclosed by the dealer. Disclosure shall be by placing a clearand conspicuous sign in the public sales area of the dealership. The signshall be no smaller than eight and one-half inches by eleven inches and theprint shall be no smaller than one-half inch, and in a form as approved bythe Commissioner.
(1996, cc. 1043, 1052; 2000, c. 116; 2009, c. 60; 2010, c. 359.)
