Section 16-399. DEFINITIONS

 

399.1For purposes of this chapter and in addition to the definitions set forth in D.C. Official Code § 60-601, the following terms and phrases shall have the meanings ascribed:

 

Amount Credited for any Trade-in - the figure representing the value agreed upon by the dealer and the purchaser for any motor vehicle or other personal property tendered by the purchaser, and accepted by the dealer, as part payment of the purchase price of any motor vehicle.

 

Assign - any negotiation, sale, conveyance, or transfer in any manner or by any form of an instrument of security.

 

Automobile repossessor - any person, including a dealer, seller, sales finance company, or person acting under contract as or on behalf of a dealer, seller, sales finance company, or automobile repossession business, who takes possession of a motor vehicle pursuant to the provisions of this chapter.

 

Cash Sale Price of Vehicle and Equipment - the total cash price of the motor vehicle, accessories and equipment sold to the purchaser before deduction of amount credited for any trade-in, and is the amount for which the dealer will immediately transfer and assign to the purchaser title to the motor vehicle, accessories and equipment free and clear of any lien or encumbrance.

 

Cash Down Payment - any cash, other than installments of the time price balance, received by the dealer from the purchaser as part payment for a motor vehicle, and as payment of any governmental charges required to be collected by the dealer.

 

Cost of Insurance and Summary of Insurance Coverage - a statement as to each type of coverage; the amount, term and total premium of the insurance which is included in the total amount to be paid by the purchaser; the extent to which each such type of insurance will protect the interest of the purchaser; and the name of the company or broker with whom the insurance has been placed or to whom application for the insurance will be made.

 

Description of the motor vehicle sold - the manufacturer's trade name, model, year and serial number of manufacturer's identification number of the vehicle sold.

 

Director - the Director of the Department of Consumer and Regulatory Affairs, or his or her designated agent.

 

Governmental charges - include, in addition to those charges enumerated in the Act of April 22, 1960 (Pub. L. 86-431), notary fees, and any amount paid by the dealer for messenger service, not in excess of two dollars and fifty cents ($ 2.50), for obtaining and delivering certificate of title and identification tags.

 

Holder - any person legally or beneficially entitled to the proceeds of the instrument of security.

 

Invoice - an itemized statement of the sale of a motor vehicle. The word "invoice" also includes a bill of sale.

 

Public Sale - a sale where not less than five (5) days notice has been given by a holder to the public specifying where the motor vehicle to be sold is located; at what times, within that period, it may be inspected; and by what time all bids must be received by the holder in order to be considered in the disposal of the vehicle. The notice provided for in this definition shall be an advertisement in a newspaper of general circulation in the area where the property is to be sold. Other motor vehicles may be included in any such newspaper advertisement.

 

Purchaser or Buyer or Retail Buyer - a person to whom a dealer has sold, traded, exchanged or in any other manner conveyed or transferred legal or equitable title to a motor vehicle.

 

Sale - sale, trade, exchange, barter, and any other transaction for a consideration which results in the transfer of legal or equitable title to a motor vehicle by a dealer to a purchaser.

 

Salesperson - any individual (including without limitation any officer, director, partner, or member of a dealer) who either expressly or impliedly represents or holds himself or herself out to be employed, engaged, appointed, authorized or permitted by any dealer to sell or buy or offer to sell or buy any motor vehicle or any interest in a motor vehicle for or on behalf of the dealer, but does not include any individual engaged in the business of buying motor vehicles from licensed dealers for disposition or sale outside the District of Columbia.

 

The term "salesperson" also includes any person who, for a consideration and with the express or implied consent of a dealer, arranges for the sale of a motor vehicle or any interest in a motor vehicle either by the dealer, or on or from the place of business of the dealer.

 

The acceptance by a dealer of any transaction resulting from such an arrangement shall, prima facie, constitute that person a salesperson for that dealer, within the meaning of this chapter.

 

Sales Finance Company - a person engaged in the District of Columbia in the business of purchasing instruments of security from one or more dealers.

 

Terms of Payment of Time Price Balance - the number of installment payments to be made by the purchaser, the amount of each installment, and the due date or payment period.

 

Time Price Balance - the total amount remaining to be paid by the purchaser to acquire complete ownership of the vehicle free and clear of all liens or encumbrances.

 

 

Total Cash Price Balance - the balance of the cash sale price due, after deducting the cash down payment and the amount credited for trade-in, for which the dealer will transfer and assign to the purchaser title to the motor vehicle free and clear of any lien or encumbrance.