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138.4603 Determination of motor vehicle retail price for sales on or after July
1, 2014.
(1)
(a)
(b)
(2)
(a)
(b)
Effective for sales on or after July 1, 2014, of:
1.
New motor vehicles;
2.
Dealer demonstrator vehicles;
3.
Previous model year motor vehicles; and
4.
U-Drive-It motor vehicles that have been transferred within one
hundred eighty (180) days of being registered as a U-Drive-It and
that have less than five thousand (5,000) miles;
the retail price shall be determined by reducing the amount of total
consideration given by the trade-in allowance of any motor vehicle traded
in by the buyer. The value of the purchased motor vehicle and the amount
of the trade-in allowance shall be determined as provided in subsection
(2) of this section.
The retail price shall not include that portion of the price of the vehicle
attributable to equipment or adaptive devices necessary to facilitate or
accommodate an operator or passenger with physical disabilities.
The value of the purchased motor vehicle offered for registration and the
value of the vehicle offered in trade shall be attested to in a notarized
affidavit, provided that the retail price established by the notarized
affidavit shall not be less than fifty percent (50%) of the difference
between the applicable value of the purchased motor vehicle, as
determined under the method described in paragraph (b) of this
subsection, and the trade-in value of any motor vehicle offered in trade,
as established by the reference manual.
If a notarized affidavit is not available:
1.
The retail price of the purchased motor vehicle offered for
registration shall be determined as follows:
a.
Ninety percent (90%) of the manufacturer's suggested retail
price of the vehicle with all equipment and accessories,
standard and optional, and transportation charges; or
b.
Eighty-one percent (81%) of the manufacturer's suggested
retail price of the vehicle with all equipment and accessories,
standard and optional, and transportation charges in the case
of new trucks of gross weight in excess of ten thousand
(10,000) pounds; and
2.
The value of the vehicle offered in trade shall be the trade-in value,
as established by the reference manual.
Effective:June 25, 2013
History: Created 2013 Ky. Acts ch. 119, sec. 11, effective June 25, 2013.
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