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Article: Auto News digest.(Briefs)
- Article from:
- Automotive News
- Article date:
- August 9, 2004
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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N.H. law authorizes spot deliveries
CONCORD, N.H. - A new law in New Hampshire authorizes "spot delivery'' of vehicles as long as dealers make certain disclosures. A spot delivery enables a customer to take possession of a vehicle while a finance contract is pending.
The law, which took effect July 23, requires dealers to provide a written disclosure in 10-point boldfaced type that:
* The dealership has not obtained final approval from a lender for terms of a retail installment contract.
* The terms are not binding until the lender approves.
* The contract is canceled if the lender rejects the terms.
* If the contract ...