An Act To Eliminate Unnecessary Regulatory Burdens on Motor Vehicle Dealer-to-dealer Transactions
Sec. 1. 10 MRSA §1475, sub-§1, as amended by PL 1991, c. 824, Pt. A, §16, is further amended to read:
Sec. 2. 10 MRSA §1475, sub-§3, as amended by PL 2003, c. 240, §1, is further amended to read:
Any dealer who offers for sale to consumers a repossessed vehicle that has been obtained by the dealer through any transaction other than a retail sale is not subject to the provisions of this subsection.
A dealer is not subject to the provisions of this subsection if that dealer offers for sale to consumers a used motor vehicle that has been obtained by the dealer through an auction located outside the State at which buyers are limited to licensed dealers and the seller of the used motor vehicle is neither a resident of this State nor a dealer licensed in this State, if the dealer clearly discloses on the written disclosure statement required by subsections 1 and 2-A that the vehicle was acquired at an out-of-state auction and that historical information regarding mechanical defects and substantial damage is not available.
The seller of the used motor vehicle shall sign and date this written statement and the dealer who buys the vehicle shall maintain a record of it for 2 years following the sale of the motor vehicle.
As used in subsection 2-A and this subsection, "substantial collision damage" means any damage to a motor vehicle from a collision when the costs of repair of that damage, at the time of repair, including replacement of mechanical and body parts, exceed $2,000.
Sec. 3. 10 MRSA §1475, sub-§6 is enacted to read:
summary
This bill exempts a car rental company acting in the capacity of a dealer and having a location in at least one other state from current law requiring giving or receiving written disclosure statements when selling a used motor vehicle at wholesale to another dealer.