2006 Code of Virginia § 46.2-1530 - Buyer\'s order

46.2-1530. Buyer's order.

A. Every motor vehicle dealer shall complete, in duplicate, a buyer's orderfor each sale or exchange of a motor vehicle. A copy of the buyer's orderform shall be made available to a prospective buyer during the negotiatingphase of a sale and prior to any sales agreement. The completed originalshall be retained for a period of four years in accordance with 46.2-1529,and a duplicate copy shall be delivered to the purchaser at the time of saleor exchange. A buyer'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 motor vehicle dealer selling or trading thevehicle.

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, purchaser's on-line systems filing fee, or other feerequired by law for which the buyer is responsible and the dealer hascollected. Each tax and fee shall be individually 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 46.2-1530.1 or any "dealer's manual transaction fee" as defined in 46.2-1530.2.

11. Any item designated as "dealer's business license tax," and the amountcharged by the dealer, if any.

12. For sales involving dealer-arranged financing, the following notice,printed in bold type no less than 10-point: "THIS SALE IS CONDITIONED UPONAPPROVAL OF YOUR PROPOSED RETAIL INSTALLMENT SALE CONTRACT AS SUBMITTED TO ORTHROUGH THE DEALER. IF THAT PROPOSED RETAIL INSTALLMENT SALE CONTRACT IS NOTAPPROVED UNDER THE TERMS AGREED TO WITH THE DEALER, YOU MAY CANCEL THIS SALEAND ANY DOWN PAYMENT AND/OR TRADE-IN YOU SUBMITTED WILL BE RETURNED TO YOU,PROVIDED THAT ANY VEHICLE DELIVERED TO YOU BY THE DEALER PURSUANT TO THISAGREEMENT IS RETURNED TO THE DEALER IN THE SAME CONDITION AS DELIVERED TOYOU, NORMAL WEAR AND TEAR EXCEPTED, WITHIN 24 HOURS OF WRITTEN OR ORALNOTICE TO YOU OF THE CREDIT DENIAL."

13. For sales of used motor vehicles, the disclosure required by 46.2-1529.1.

If the transaction does not include a policy of motor vehicle liabilityinsurance, the seller shall stamp or mark on the face of the bill of sale inboldface letters no smaller than 18 point type the following words: "NoLiability Insurance Included."

A completed buyer's order when signed by both buyer and seller may constitutea bill of sale.

B. The Board shall approve a buyer's order form and each dealer shall filewith each original license application its buyer's order form, on which theprocessing 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 Board.

(1988, c. 865, 46.1-547.5; 1989, c. 727; 1990, c. 900; 1993, c. 586; 1995,cc. 767, 816, 849; 2000, c. 116; 2003, c. 997.)