49 Pa. Code § 19.18a - Consignment sales
(a) A licensed
dealer is permitted to engage in consignment sales without being licensed as a
wholesale vehicle auction or public or retail vehicle auction, as defined in
section 2 of the act (63 P. S. §
818.2), if the dealer meets the requirements
of this section.
(b) The dealer
shall maintain the following documents at the lot where the vehicle is
displayed:
(1) A copy of a separate written
consignment agreement with the consignor for each vehicle. The written
consignment agreement shall contain the following information:
(i) The name and signature of the
consignor.
(ii) The make, model,
year, vehicle identification number, and license plate number of the
vehicle.
(iii) The length of the
consignment period.
(iv) The terms
of sale, including the minimum selling price, if any, and the amount of or
formula for determining the dealer's commission.
(v) The terms of insurance coverage during
the period of consignment, including the name, address and telephone number of
the consignor's insurance agent, if any.
(vi) The express identification of any
warranties extended by the consignor.
(vii) The name and address or telephone
number of all current lien holders, together with the account number for each
lien.
(viii) Any material facts
relative to the vehicle, including accident history known to the seller,
vehicle condition and odometer disclosure.
(2) A copy of the current registration
card.
(3) A copy of the title or a
print-out of an electronic lien verification.
(c) The dealer shall have the title of the
vehicle assigned from the consignor to the dealer prior to applying for title
in the name of the buyer.
(d)
Whenever a vehicle is displayed for sale on consignment, the dealer shall
disclose in writing in at least 20-point bold type on or attached to the
vehicle that the vehicle is held on consignment and is not owned by the
dealer.
(e) A dealer may not
deliver a vehicle on consignment sale without having all title, lien and
registration documents signed by the buyer or consignor, or both, as
appropriate.
Notes
The provisions of this § 19.18a issued under sections 4(9) and 5(f)(3) of the Board of Vehicles Act (63 P. S. §§ 818.4(9) and 818.5(f)(3)).
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.