Current through Register Vol. 30, No. 38, September 20, 2024
A. For the purposes of A.R.S. §
28-4410,
a motor vehicle dealer shall prepare a dealer consignment contract on a form
with contents as prescribed under subsection (B).
B. A dealer consignment contract shall contain the
following information:
1. The heading "Dealer
Consignment Contract;"
2. The
dealer's name and dealer license number;
3. The dealer's business address and
telephone number;
4. The owner's
name, address, telephone number, driver license number or taxpayer
identification number, and type of ownership;
5. The VIN; license plate number; licensing
state; and model, make, and year of the motor vehicle that has a dealer
consignment contract;
6. If there
is a lien holder, for each lienholder:
a. The
lien holder's name, address, and telephone number;
b. The lien balance;
c. The prepayment penalties, if any;
and
d. Other information on the
terms and conditions of the lien repayment;
7. A statement by the owner that the vehicle
is free and clear of all liens and encumbrances, except those disclosed under
subsection (B)(6)(a) and the lien balance is no greater than that disclosed
under subsection (B)(6)(b);
8. An
authorization by the owner permitting the dealer to market and sell the vehicle
on behalf of the owner at a mutually-agreed upon, specified, minimum
price;
9. An agreement by the
dealer to inform any prospective purchaser that the vehicle is on
consignment;
10. An agreement by
the dealer that, upon receiving the sale proceeds, the dealer shall immediately
satisfy all disclosed liens and ensure that the liens are released;
11. An agreement by the owner that, upon the
completion of the sale and after receiving the sale proceeds, the owner shall
promptly deliver and endorse the title certificate for reassignment to the
purchaser;
12. The expiration date
of the consignment contract;
13. An
agreement by the dealer to deliver the motor vehicle to the owner at a
specified location on the date that the contract expires or
terminates;
14. An agreement by the
owner to pay any specified fees due to the motor vehicle dealer on the return
of the vehicle, after the expiration or termination of the consignment
contract;
15. The date the contract
is executed;
16. The dealer's
signature; and
17. The owner's
signature.
C. A dealer
or an owner who adds to a dealer consignment contract a provision not described
in this Section shall ensure that the provision does not conflict with or alter
the meaning of a provision of this Section.
D. When a dealer prepares a dealer consignment contract as
prescribed under this Section, the dealer shall give a copy to the owner and
keep the original at the dealer's established place of business for three years
after the date that the dealer consignment contract expires or terminates, or
the vehicle is sold.
E. In
complying with this Section, a dealer shall not interpret or claim compliance
to be an approval by the state of the fairness, validity, or legality of a
dealer consignment contract. This Section furnishes only information required
in a dealer consignment contract. This Section does not detail any additional
contractual requirements that may be defined under other Arizona
statutes.
