2006 Code of Virginia § 46.2-1993.23 - Buyer\'s order

46.2-1993.23. Buyer's order.

A. Every motorcycle 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 46.2-1993.22, 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 motorcycle dealer selling or trading thevehicle.

4. The make, model year, and vehicle identification number.

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.

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 ten-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 TWENTY-FOUR HOURS OF WRITTEN ORORAL NOTICE TO YOU OF THE CREDIT DENIAL."

If the transaction does not include a policy of liability insurance, theseller shall stamp or mark on the face of the bill of sale in boldfaceletters no smaller than eighteen 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 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.)