1. a. A person licensed as a new motor vehicle dealer pursuant to chapter 322 shall not be required to disclose to a prospective or actual buyer or lessee of a new motor vehicle repairs of damage to or adjustments on or replacements of parts with new parts on the motor vehicle if all of the following are true:

 (1) The repairs, adjustments, or replacements were made to achieve compliance with factory specifications.
 (2) The actual cost of any labor or parts charged to or performed by the dealer for any such repairs, adjustments, or parts does not exceed four percent of the manufacturer‘s suggested retail price.
 (3) The dealer posts in a conspicuous place notice that repairs, adjustments, or replacements will be disclosed upon request.
 (4) The dealer discloses any such repairs, adjustments, or replacements upon request.
 b. The provisions of this section take precedence over and shall supersede section 714.16, subsection 2, paragraph “a”, unnumbered paragraph 4, and section 714H.4, subsection 2.

Terms Used In Iowa Code 321.69A

  • dealer: means every person engaged in the business of buying, selling, or exchanging vehicles of a type required to be registered under this chapter. See Iowa Code 321.24
  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lessee: means any consumer who leases a motor vehicle for one year or more pursuant to a written lease agreement which provides that the lessee is responsible for repairs to the motor vehicle. See Iowa Code 322G.2
  • Manufacturer: means a person engaged in the business of constructing or assembling all-terrain vehicles required to be registered under this chapter and who has an established place of business for that purpose in this state. See Iowa Code 321I.1
  • Motor vehicle: means a self-propelled vehicle purchased or leased in this state, except as provided in section 322G. See Iowa Code 322G.2
  • Person: includes any individual, firm, corporation, partnership, joint adventure, or association, and the plural as well as the singular number. See Iowa Code 321H.2
  • Rule: includes "regulation". See Iowa Code 4.1
  • Signature: includes an electronic signature as defined in section 554D. See Iowa Code 4.1
  • Vehicle: means any vehicle as defined in chapter 321. See Iowa Code 321H.2
 2. A person licensed as a new motor vehicle dealer pursuant to chapter 322 shall disclose in writing, at or before the time of sale or lease, to the buyer or lessee of a new motor vehicle that the vehicle has been subject to any repairs of damage to or adjustments on or replacements of parts with new parts if the actual cost of any labor or parts charged to or performed by the dealer for any such repairs, adjustments, or parts exceeds four percent of the manufacturer’s suggested retail price. The written disclosure shall include the signature of the buyer or lessee and be in a form and in a format approved by the attorney general by rule. A dealer shall retain a copy of each written disclosure issued pursuant to this section for five years from the date of issuance.
 3. As used in this section, “manufacturer’s suggested retail price” means the amount required to be disclosed by a dealer pursuant to 15 U.S.C. § 1232(f)(4).
 4. A violation of this section is an unlawful practice pursuant to section 714.16.
 5. A violation of this section is a prohibited practice or act pursuant to section 714H.5.
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