DMV Title and Registration Handbook - Oregon Department of ...

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DMV TITLE AND REGISTRATION HANDBOOK Chapter S: Dealers WHEN AN OREGON DEALER OBTAINS A VEHICLE TO OFFER FOR SALE When an Oregon dealer obtains a vehicle to offer for sale, they must: • Within seven days, complete and submit to DMV (for Oregon titled vehicles only) a Dealer’s Notice of Vehicle Purchase, Form 735-165. See instructions for completing this form later in this chapter. • Immediately remove any foreign or out-of-state registration plates from vehicles in their inventory. Dealers may retain the plates until the vehicle is sold. • Destroy the registration plates from other jurisdictions if the vehicle is to be titled in Oregon or in a jurisdiction other than that in which the vehicle was previously registered. (If the vehicle will be re-registered in the former jurisdiction, the plates may be placed back on the vehicle following the sale.) WHEN AN OREGON DEALER SELLS A VEHICLE When an Oregon dealer sells a vehicle, they must: • Provide a signed and dated release of interest. This may be on the title, MCO, bill of sale, or on a separate piece of paper. The bill of sale should include your dealer number. • Provide an odometer disclosure from the dealership to the purchaser, unless the vehicle is exempt from odometer disclosure requirements. See Chapter I for more information. • Submit fees and documents required for title to DMV within 30 calendar days of the transfer of interest or within 25 calendar days of the transfer of interest, furnish the certificate of title or other primary ownership document for the vehicle and any required release of interest to the new buyer (** see remark below). You must also satisfy any prior interest in any vehicle or camper you sell within 15 days from the date of transfer (see section titled “Satisfaction of Prior Interests” later in this chapter). • If not submitting the title/registration paperwork to Oregon DMV on behalf of the buyer, remove year registration stickers from both of the Oregon registration plates on passenger vehicles they sell, unless the buyer is another Oregon licensed dealer. (Oregon licensed towers must also remove stickers from the Oregon registration plates on passenger vehicles they sell, unless the buyer is an Oregon licensed dealer.) Dealers and towers may issue up to two 10-day trip permits, Form 735-307 when the stickers are removed from a motor vehicle (see trip permit section later in this chapter). S-8 7/1/05
DMV TITLE AND REGISTRATION HANDBOOK Chapter S: Dealers If you cannot comply within the time limits allowed by law, you must notify your buyer and any security interest holder and/or lessor, within 25 business days of the transfer of interest (see example on next page). Notice to the buyer and other parties must include: • Detailed reason for the delay; • Anticipated extent of the delay; and • Statement of rights and remedies available if the delay becomes unreasonably extended. DMV considers unreasonably extended to be 45 days from the date of transfer of interest. The statement must inform the purchaser of their right to file complaints against the dealer with DMV if the delay goes beyond 45 days from the date of transfer of interest. However, you are still required to notify buyers and security interest holders within 25 business days as noted above. Dealers must keep records that show they have complied with these regulations. If a dealer is unable to comply with these requirements, the dealer’s records must contain sufficient documentation to establish the dealer has made a good faith effort to comply and the dealer’s inability to comply is due to circumstances beyond their control (see sample letter of A Suggested Notice To The Buyer later in this chapter for examples or circumstances beyond control that are acceptable to DMV if proven). ** Oregon law requires any person who transfers interest of a vehicle covered by an Oregon title to notify DMV of the transfer within 10 days of the date of transfer. A vehicle dealer is exempt from this notice requirement if the dealer transfers the vehicle to another dealer or submits application for title to the vehicle on behalf of the buyer of the vehicle. Notification may be submitted on DMV Form 6890, Notice of Sale or Transfer of a Vehicle (see example that follows), or may be in your own format, as long as all required information is included. The minimum information required is the vehicle identification number, plate number, seller name and buyer name. You may also use the on-line Form 6890 on the DMV web site. 7/1/05 S-9
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