N.M. Admin. Code § 12.2.14.7
Current through Register Vol. 35, No. 23, December 10, 2024
Section 12.2.14.7 - DEFINITIONSA. "Alteration" shall mean damage to, repair or modification of a motor vehicle's cab, chassis, or body which materially diminishes the value of the motor vehicle; the alteration may but need not necessarily be the result of wreck damage; goods are altered if, as measured against reasonable expectations of a consumer, the characteristics or value of a motor vehicle are diminished in a meaningful way. See Hale v. Basin Motor Co., 110 N.M. 314 (1990).B. "Body" shall mean the external structure of the motor vehicle, exclusive of the cab and chassis.C. "Cab" shall mean the compartment of a motor vehicle where the driver and passengers sit.D. "Chassis" shall mean the frame, structural components of the motor vehicle and suspension.E. "Flat rate manual cost" shall mean estimated cost of repair as indicated by a nationally recognized manual commonly used in the industry.F. "Good faith estimate of cost" for alteration or repair shall mean a good faith estimate of the flat rate manual cost of prior alteration or repair discovered in the used motor vehicle alteration or damage inspection contemplated by this rule, and disclosed in substantially the manner shown in the model inspection report which accompanies this rule, but "good faith estimate of cost" shall not be interpreted as a warranty as to actual cost which is unknown to the seller, nor is "good faith estimate of cost" intended to be a substitute for disclosure of actual cost if known to the seller.G. "Inspection" or "reasonable inspection" shall mean an investigation of the age and condition of a motor vehicle for evidence of prior alteration or prior repair due to alteration or wreck damage. Inspections shall be consistent with 12.2.14.10 NMAC.H. "Inspection report" shall mean the inspection report provided for in 12.2.14.10 NMAC, or equivalent form, including the model inspection report form which accompanies this rule.I. "Qualified person" shall mean a person who is qualified by an industry recognized program or who possesses the requisite knowledge, skill or experience to perform the used motor vehicle inspection required by this rule and by the accompanying model inspection report form, in order to find evidence of: (1) painting and refinishing;(2) structural and non-structural damage repair;(3) repair of motor vehicle, cab, chassis and body; orJ. "Repair or repairing" shall mean to restore or attempt to restore a motor vehicle's cab, chassis, or body to industry standards.K. "Retail buyer" or "buyer" shall mean a person who is not in the business of buying and selling motor vehicles and who buys or agrees to buy a motor vehicle from a retail seller.L. "Retail seller" or "seller" shall mean natural persons, corporations, trusts, partnerships, associations, cooperative associations, clubs, companies, firms, joint ventures or syndicates who is licensed pursuant to Section 66-4 -1 NMSA 1978 or who regularly and principally engages in the business of selling motor vehicles to retail buyers for profit, but does not include selling motor vehicles: (1) to a lessee pursuant to a purchase option under a motor vehicle lease agreement;(2) to other motor vehicle dealers licensed with the New Mexico motor taxation and revenue department-motor vehicle division pursuant to Subsection A of Section 66-4 -1 NMSA 1978; or(3) to persons, other than retail buyers, licensed or regulated by another state or jurisdiction.M. "Sales price" shall mean the actual stated price on the contract before the deduction of the value of any trade-in and shall not include such charges as taxes, registration fees, extended warranties, service contracts, credit of disability insurance, or any other charges incidental to the sale.N. "Unibody" shall mean a motor vehicle construction technique in which the body is integrated into a single unit with the chassis rather than having a separate body-on-frame.O. "Used" motor vehicle shall mean a used motor vehicle as defined in 12.2.4.7 NMAC.N.M. Admin. Code § 12.2.14.7
12.2.14.7 NMAC - N, 4/1/2014, Amended by New Mexico Register, Volume XXVII, Issue 16, August 31, 2016, eff. 8/31/2016