41-3-403 - Dealer noncompliance -- Rights of purchaser -- Penalties.
41-3-403. Dealer noncompliance -- Rights of purchaser -- Penalties.
(1) (a) Subject to the provisions of Subsection (4), if a dealer fails to comply withSubsection 41-3-301(1), the purchaser may return the purchased motor vehicle to the dealer andreceive a complete refund of all money and other consideration given for the purchase, includingany motor vehicles or property traded in.
(b) If the motor vehicle or property traded in has been sold by the dealer, he shall returnto the purchaser the amount of money equivalent to the value of the motor vehicle or property asallowed toward the purchase.
(c) Demand for the return may be made directly by the customer, his attorney, or theadministrator.
(d) Any loan payments or interest due between the sale date and the return date on eitherthe motor vehicle purchased or a motor vehicle traded in, are the responsibility of the dealer.
(2) Failure of a dealer to comply with this section:
(a) is a violation of Subsection 41-3-301(1);
(b) is a ground for immediate dealer license suspension; and
(c) allows the customer a cause of action against the dealer to recover all considerationowed under Subsection (1).
(3) A motor vehicle returned under the provisions of this section is not considered to besold for purposes of:
(a) notice of sale under Subsection 41-3-301(2); and
(b) sales tax under Title 59, Chapter 12, Sales and Use Tax Act.
(4) If a dealer fails to comply with Subsection 41-3-301(1), the dealer shall accept thereturn of a purchased motor vehicle under this section if the purchaser:
(a) returns the motor vehicle to the dealer and requests in writing that the purchase berescinded, prior to the time the dealer submits a certificate of title or manufacturer's certificate oforigin for that motor vehicle, endorsed according to law, to the Motor Vehicle Division,accompanied by all documents required to obtain a new certificate of title and registration in thenew owner's name;
(b) furnishes to the dealer a written odometer disclosure statement in accordance withSection 41-1a-902; and
(c) pays the dealer an amount equal to the current standard mileage rate for the cost ofoperating a motor vehicle established by the federal Internal Revenue Service for each mile themotor vehicle was driven between the date the purchaser first acquired possession and the datewhen the purchaser returned the motor vehicle to the dealer.
Amended by Chapter 210, 2004 General Session