§ 322.7B — Consignment sales of motor trucks

Iowa § 322.7B

• Jurisdiction: Iowa
• Title VIII: TRANSPORTATION
• Ch. 322: MOTOR VEHICLE MANUFACTURERS, DISTRIBUTORS, WHOLESALERS, AND DEALERS

Text

A licensed motor vehicle dealer may sell a used motor truck on a consignment basis if all
of the following conditions apply:
1. The dealer is licensed to sell used motor vehicles.
2. The motor truck offered for sale has a gross vehicle weight rating of twenty-six
thousand one or more pounds.
3. The dealer prominently displays the words “consignment vehicle” on the motor truck
andindicatesclearlyinthesalesdocumentationthatthemotortruckisaconsignmentvehicle.
The dealer shall put customers on notice that the dealer does not have title to the vehicle and
does not warranty the title.
4. The purchaser certifies to the dealer that the person is either a corporation, limited
liability company, or partnership or a person who files a schedule C or schedule F form
for federal income tax purposes, and that the motor truck is being purchased for business
purposes, and not for personal use.
5. The dealer assumes no liability for damages resulting from a customer’s test drive of
the motor truck, and the consignor maintains financial liability coverage as required under
section 321.20B or 325A.6, as appropriate, for the motor truck throughout the term of the
consignment.