Arizona Laws 28-4419. Required and prohibited activities
If providing a service of arranging or assisting in effecting the purchase of a motor vehicle by a retail consumer, a broker or motor vehicle dealer licensed pursuant to this chapter:
Terms Used In Arizona Laws 28-4419
- Broker: means a person who for any fee, commission or other valuable consideration offers to provide, provides or represents that the person will provide a service of arranging or assisting in effecting the purchase of a motor vehicle and who is not:
(a) A new motor vehicle dealer or an employee or agent of a new motor vehicle dealer. See Arizona Laws 28-4301
- Dealer: means a person who is engaged in the business of buying, selling or exchanging motor vehicles, trailers or semitrailers and who has an established place of business and has paid fees pursuant to section 28-4302. See Arizona Laws 28-101
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Motor vehicle: means an automobile, motor bus, motorcycle, truck or truck tractor or any other self-propelled vehicle, trailer or semitrailer. See Arizona Laws 28-4301
- Motor vehicle dealer: means a new motor vehicle dealer, a used motor vehicle dealer, a public consignment auction dealer, a broker or a wholesale motor vehicle auction dealer, excluding a person who comes into possession of a motor vehicle as an incident to the person's regular business and who sells, auctions or exchanges the motor vehicle. See Arizona Laws 28-4301
- Retail consumer: means any person purchasing, leasing or acquiring or possibly purchasing, leasing or acquiring a vehicle or product, service or financing not for resale. See Arizona Laws 28-4301
- Service: means any service that is sold, leased or provided to retail consumers and that directly relates to the ownership or leasing of a new or used motor vehicle, including extended service contracts or motor vehicle warranty and nonwarranty repairs or maintenance, including both parts and labor. See Arizona Laws 28-4301
1. Shall:
(a) Execute a written brokering agreement and provide a completed copy to both of the following:
(i) The retail consumer entering into the brokering agreement. The completed copy shall be provided before the retail consumer signs an agreement for the purchase of the motor vehicle described in the brokering agreement or before the broker or motor vehicle dealer accepts one hundred dollars or more from the retail consumer, whichever occurs first.
(ii) The selling motor vehicle dealer. The completed copy shall be provided before the selling motor vehicle dealer enters into a purchase agreement with the retail consumer.
(b) On demand of a retail consumer, refund any purchase money, including purchase deposits, at any time before the retail consumer signs a motor vehicle purchase agreement with a selling motor vehicle dealer of the motor vehicle described in the brokering agreement.
(c) On demand of a retail consumer, cancel a brokering agreement and refund any monies paid by a retail consumer, including a brokerage fee, under any of the following circumstances:
(i) If the final price of the brokered motor vehicle exceeds the purchase price listed in the brokering agreement.
(ii) If the motor vehicle delivered is not as described in the brokering agreement.
(iii) If the brokering agreement expires before the retail consumer is presented with a purchase agreement from a selling motor vehicle dealer that is arranged through the broker and that contains a purchase price at or below the price listed in the brokering agreement.
(d) Disclose to the retail consumer and selling motor vehicle dealer as soon as practicable whether the broker receives or does not receive a fee or other compensation, regardless of the form or time of payment, from the selling motor vehicle dealer and the dollar amount of any fee that the retail consumer is obligated to pay to the broker. This arrangement shall be confirmed in a brokering agreement.
(e) Maintain records pursuant to section 28-4403.
(f) Maintain for a minimum of three years a copy of the executed brokering agreement and other notices and documents related to each brokered transaction.
(g) Advise the retail consumer, before accepting any money, that a full refund will be given if the motor vehicle ordered through the broker is not obtained for the retail consumer or if the service contracted for is not provided.
2. Shall not:
(a) Accept a purchase deposit from any retail consumer that exceeds two and one-half per cent of the selling price of the motor vehicle described in the brokering agreement.
(b) Receive a fee from more than one source if providing services to a retail consumer as either a broker or motor vehicle dealer in the same transaction.