(1) The disclosure statement required by this
rule shall be made in writing, to a buyer or lessee, at or before the time of
sale or lease to the buyer or lessee and shall include the following statement,
in at least 14-point type:
Iowa law requires new motor vehicle dealers to disclose to
their customers when a new vehicle the dealer offers for sale or lease has been
subject to prior repairs or adjustments, or has had parts replaced with new
parts, when the cost of that repair, adjustment or replacement is more than 4%
of the dealer's adjusted cost for the vehicle. This new vehicle has had
repairs, or has had parts adjusted or replaced, as follows:
[Dealer: Check all that apply, and fully describe all repairs,
adjustments or part replacements.]
?Repair(s) to the following
part(s):_______________________________
_________________________________________________________
?Adjustment(s), as
follows:_____________________________________
_________________________________________________________
?Replacement(s) of the following
part(s):__________________________
_________________________________________________________
(2) The disclosure statement shall
also include all of the following:
a. The
year, make, model and vehicle identification number of the vehicle;
b. The signature of the buyer or
lessee;
c. The name and address of
the dealership;
d. The signature of
a dealer representative authorized to legally bind the dealership;
e. The dates on which the above signatures
were affixed to the document.
(3) The disclosure required pursuant to this
rule shall be made clearly and conspicuously, shall include no writing except
as required by this rule, and shall be made in either of the following ways:
a. On a separate 81/2" x 11" white piece
of paper; or
b. Via electronic
means, with the electronic signatures of all parties required to sign the
disclosure pursuant to this rule.
