Regulation 12-6-104 - Disclosures Required As Part Of A Motor Vehicles Sales Contract

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REGULATION 12-6-104 (3)(k).
1. Disclosures in the following language, in order and sequence, must be used in all contracts for the sale of any motor
vehicle unless excluded by these regulations:
____________________________________________________________
DISCLOSURES REQUIRED AS PART OF A
MOTOR VEHICLES SALES CONTRACT
These disclosures are required by Colorado Law unless the buyer has already been given a copy of a completed retail
installment sales contract that includes all disclosures required by federal and state laws. Initialing the provisions below
incorporates them into your contract to purchase a motor vehicle.
Buyer’s
Dealer’s
Initials
or Agent’s
Initials
A.
IMPORTANT NOTICE: The papers you are signing as part of this motor vehicle sale
are legal documents. You should read them carefully and if there is anything you do not
____
understand, you should seek legal assistance.
____
B.
WARNING: Only the terms and conditions written into these documents are part of the
contract. Be sure that any oral representations are also written into these documents;
____
otherwise they cannot be enforced.
____
C.
Any fraud or misrepresentation in a motor vehicle sale is punishable under Colorado
____
State Law.
____
D.
The contract is for cash. It requires you to pay the dealer $__________, the total balance
due after your trade-in and/or deposit(s) are deducted. Failure to pay this amount by
____
________ may result in the loss of any deposit(s) you have paid and/or your trade vehicle.
____
OR
Dealer has agreed to arrange financing for you and you agree to buy the motor vehicle if
financing can be arranged at an interest rate that does not exceed ______% annual percentage
rate. At this percentage rate your monthly payments would be _________ per month for
________ months, until paid in full, assuming a down payment or trade worth _________.
This annual percentage rate must be agreed upon by both you and the dealer.Also, you are
entitled by law to a complete, written disclosure of all the loan terms and the contract is
____
not binding until you receive such a disclosure and accept the loan terms disclosed.
____
E.
You and the dealer have agreed that the vehicle will be delivered to you prior to the purchase
price being paid in full. If financing cannot be arranged at the terms stated in the contract, and
the contract is canceled, you agree to pay the dealer $_______ dollars per day and ________
cents per mile for your use of the vehicle from the date of delivery until the vehicle is returned
to the dealer. If the contract is canceled, it may require you to immediately return the vehicle to
the dealer and to pay the cost of repair for any damage occurring to the vehicle while it is in
your possession along with the agreed upon daily and mileage charges. The contract may also
give the dealer the right to take the vehicle from you 24 hours after cancellation and demand
for the vehicle’s return. You may also be required by the contract to pay any costs the dealer
may have to pay in regaining possession of the vehicle. If you owe any money from daily
and mileage charges, damage repair costs or repossession costs to the dealer when the vehicle
is returned, the dealer may keep your deposit(s) up to the amount owed. Otherwise, the
____
deposit must be returned unless you have agreed that it is nonrefundable.
____
I hereby certify that I have received a
I hereby certify that I have given
copy of this disclosure
the buyer a copy of this disclosure.
____________________________
_____________________________
Buyer’s Signature
Dealer’s or Agent’s Signature

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