Section 154.08. Odometer disclosure for consignment sales.

 

(1)   Required odometer disclosure from consignor to dealer consignee. When a motor vehicle is offered for sale under a consignment agreement, as specified under s. Trans 138.04 (1) (b) , the consignor shall complete and deliver to the dealer consignee a separate conforming odometer disclosure statement which has been issued or approved by the department. The written odometer disclosure shall include all of the following:

(a) The odometer reading at the time the consignment agreement is completed, not including tenths of miles. The consignor shall certify the odometer reading as one of the following:

1. If, to the best of the consignor's knowledge, the odometer reading reflects the actual mileage, the consignor shall include a certification to that effect.

2. If the consignor knows that the odometer reading reflects the amount of mileage in excess of the designed mechanical odometer limit, the consignor shall include a certification to that effect.

3. If the consignor knows that the odometer reading differs from the vehicle's mileage and that the difference is greater than that caused by odometer calibration error, the consignor shall include a certification that the odometer reading is not actual mileage. This statement shall alert the dealer consignee that a discrepancy exists between the odometer reading and the actual mileage.

4. If, due to an accident, fire or other random occurrence, the odometer reading of the motor vehicle being transferred cannot be read, the consignor shall indicate in the spaces designated for the odometer reading on a conforming odometer statement a reading of 0 (zero) or a recent reading that can be documented, such as on an odometer statement, emission inspection report or repair invoice, and shall certify that the odometer reading is not actual mileage. This statement shall alert the dealer consignee that a discrepancy exists between the odometer reading and the actual mileage.

(b) The date the consignment agreement is completed.

(c) The consignor's name and current address.

(d) The dealer consignee's name and current address.

(e) The description of the vehicle, including make, model, year, body type and vehicle identification number.

(2)   Reference to federal and state requirements and penalties. The disclosure statement shall state that the disclosure is required by federal and state law and that failure to complete the disclosure statement or providing false information may result in fines or imprisonment, or both, and may make the consignor liable for damages to the dealer consignee.

(3)   Consignor's signature and printed name required. The disclosure statement shall be signed by the consignor and include the consignor's printed name. If the person signing the statement is signing as an authorized agent or employe of any firm or corporation, the printed name of the firm or corporation and the printed name of the person signing shall be included.

(4)   Dealer consignee's signature and printed name required. The disclosure statement shall be signed by the dealer consignee and include the transferee's printed name. If the person signing the statement is signing as an authorized agent or employe of any firm or corporation, the printed name of the firm or corporation and the printed name of the person signing shall be included.

(5)   Showing consignor's odometer disclosure to prospective purchaser. Prior to the sale of a motor vehicle, the dealer consignee shall show each prospective retail purchaser the odometer disclosure statement which was completed by the consignor.

(6)   Consignor's and dealer consignee's responsibility upon sale of the consigned motor vehicle. Upon sale of a consigned motor vehicle, the consignor shall complete the odometer disclosure statement and the assignment of ownership to the dealer consignee on the conforming certificate of title for the vehicle. If a consigned motor vehicle is titled with a nonconforming title, the consignor shall complete the assignment of ownership to the dealer consignee on the certificate of title and the vehicle's odometer disclosure statement on a separate conforming odometer disclosure statement. The dealer consignee shall complete the dealer reassignment, including the odometer disclosure statement, to the purchaser and shall, as required in s. 342.16 (1) (a) , Stats., submit the purchaser's application for certificate of title to the department. If the purchaser is not a resident of this state, or is not required to register the motor vehicle in this state, the dealer consignee shall, in lieu of submitting the purchaser's application for title to the department, deliver the documents to the purchaser.

History: Cr. Register, January, 1996, No. 481 , eff. 2-1-96.