Neb. Rev. Stat. §§ 60-1417

Current with changes through the 2024 First Special Legislative Session

Section 60-1417 - Vehicle sale; instrument in writing; contents; copy of instruments and odometer statements retained by dealer; out-of-state sale; requirements

Every motor vehicle, motorcycle, or trailer sale, except between a manufacturer or distributor, shall be evidenced by an instrument in writing upon a form that may be adopted and promulgated by the board and approved by the Attorney General which shall contain all the agreements of the parties and shall be signed by the buyer and seller or a duly acknowledged agent of the seller. Prior to or concurrent with any such motor vehicle, motorcycle, or trailer sale, the seller shall deliver to the buyer written documentation which shall contain the following information:

(1) Name of seller;

(2) Name of buyer;

(3) Year of model and identification number;

(4) Cash sale price;

(5) Year and model of trailer and serial number, if any;

(6) The amount of buyer's downpayment and whether made in money or goods or partly in money and partly in goods, including a brief description of any goods traded in;

(7) The difference between subdivisions (4) and (6) of this section;

(8) The amount included for insurance if a separate charge is made for insurance, specifying the types of coverages;

(9) If the sale is an installment sale:

(a) The basic time price, which is the sum of subdivisions (7) and (8) of this section;

(b) The time-price differential;

(c) The amount of the time-price balance, which is the sum of subdivisions (a) and (b) of this subdivision, payable in installments by the buyer to the seller;

(d) The number, amount, and due date or period of each installment payment; and

(e) The time-sales price;

(10) Whether the sale is as is or subject to warranty and, if subject to warranty, specifying the warranty; and

(11) If repairs or inspections arising out of the conduct of a dealer's business cannot be provided by the dealer in any representations or warranties that may arise, the instrument shall so state that fact and shall provide the purchaser with the location of a facility where such repairs or inspections, as provided for in the service contract, can be accomplished.

A copy of all such instruments and written documentation shall be retained in the file of the dealer for five years from the date of sale. The dealer shall keep a copy of the odometer statement required by section 60-192 which is furnished to him or her for each motor vehicle the dealer purchases or sells. The dealer shall keep such statements for five years from the date of the transaction as shown on the odometer statement.

If a transaction for the sale of a new motor vehicle which does not take place in the State of Nebraska provides for delivery in Nebraska, delivery in Nebraska shall only be made through a motor vehicle dealer licensed and bonded in Nebraska. The motor vehicle dealer may charge the seller for such service but shall not charge the purchaser. The motor vehicle dealer shall be jointly and severally liable for compliance with all applicable laws and contracts with the seller. If the dealer is not a franchisee of the manufacturer or distributor of the line-make of the vehicle, the dealer shall notify the purchaser in writing that the dealer is jointly and severally liable with the seller for compliance with all applicable laws and contracts with the seller and that the dealer is not authorized to provide repairs or inspections pursuant to the manufacturer's warranty.

Neb. Rev. Stat. §§ 60-1417

Laws 1945, c. 143, § 9, p. 463; Laws 1953, c. 207, § 13, p. 730; Laws 1955, c. 243, § 7, p. 767; R.R.S.1943, § 60-617; Laws 1963, c. 365, § 13, p. 1179; Laws 1967, c. 394, § 10, p. 1237; Laws 1971, LB 768, § 36; Laws 1974, LB 754, § 14; Laws 1978, LB 248, § 11; Laws 1984, LB 825, § 27; Laws 1993, LB 370, § 473; Laws 1995, LB 564, § 9; Laws 2000, LB 1018, § 6; Laws 2005, LB 276, § 107.