Virginia Dealer Manual - Virginia Department of Motor Vehicles

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Virginia Dealer’s Manual October 1, 2009 a. The customer returns the vehicle to your dealership. b. You refund all money given you towards the purchase-price of the vehicle, less fees for mileage and any costs for damage to the vehicle. c. You give the customer a letter, stating that the contract has been rescinded and that he has returned the vehicle and you have refunded the whole amount that was paid your dealership toward the purchase price. d. Then your customer may contact DMV, HQ Title & Registration Division presenting the letter from you, and submit a request for refund of any DMV registration fees to which they are entitled by law. Note that there is no refund of temporary registration fees. 7.4.1.3 Requirements Concerning DMV Fees & Forms For MVDB Licensed Dealers If a sales contract between you and your customer is canceled and your customer actually took possession of the vehicle before cancellation of the contract, you must refund the following fees: a. Title Fee b. License Fee (either transfer or original purchase) c. SUT d. UMV Fee If you issued temporary plates to the customer you must: e. Void all copies of the DSD-5, “Temporary Certificate . f. Void the customer’s temporary plates (whether issued by PoD or not). g. Retain the dealer’s copy of the DSD-5, on file at your dealership. 7.4.2 Cancellation Before Customer Takes Possession of Vehicle 7.4.2.1 Requirements Concerning DMV Fees & Forms If your customer did not remove the vehicle from your place of business before the sales contract was cancelled, you may refund all DMV taxes and fees you have collected from the customer. a. Destroy any completed DMV forms pertaining to the vehicle sales except for the following controlled forms: 1) VSA-27, “Temporary Registration Receipt” - 81 - Virginia Department of Motor Vehicles
2) DSD-5, “Temporary Certificate” 3) VSA-01, “Temporary Certificate of Registration” b. Refund all DMV fees and taxes. Virginia Dealer’s Manual October 1, 2009 c. Retain the dealer’s copy of the DSD-5, or VSA-01, on file at your dealership. d. Void any temporary tags/plates that may have been printed/issued 7.4.2.2 If You Assigned a Manufacturer’s Statement or Certificate of Origin If the cancelled sales contract covered a new vehicle and you have already filled out the first assignment on the reverse of the manufacturer’s statement or certificate of origin for the vehicle, you need not obtain a new MSO/MCO from the manufacturer. You may: a. Line through and write the word “VOID” over information contained in the first assignment block. b. Attach a letter explaining the cancellation of contract with the first purchaser, and c. Obtain the first purchaser’s signature on this explanation letter. 1) If the purchaser is not available to sign your letter, he must send a similar signed statement explaining the cancellation of the contract to DMV. 2) When you sell the vehicle to another customer, you may assign the vehicle ownership to them by using the space for the second assignment on the reverse of the MSO/MCO form. 7.5 DLR 720-VIRGINIA ODOMETER LAWS 7.5.1 Odometer Reading Must be Reported on Certificate of Title Any person, including a dealer, who is transferring ownership of a motor vehicle must, record the odometer reading of the vehicle on the title. DMV will not issue a new title for the vehicle until the odometer reading has been recorded. It is illegal for any person to knowingly record an incorrect reading on any documents. 7.5.2 Penalty Any person who is convicted of a violation of this law may be fined up to $1,000 or imprisoned for up to 12 months, or both. 7.5.3 Tampering with an Odometer is Prohibited a. It is illegal for any person to connect, change, or disconnect an odometer on a motor vehicle. It is also illegal for any person to sell a motor vehicle if he knows, or should reasonably know that the odometer has been changed or tampered with - 82 - Virginia Department of Motor Vehicles
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Virginia Dealer Manual - Virginia Department of Motor Vehicles

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