NY Gen Bus L § 738 (2021)
2021 New York Laws GBS - General Business Article 35-B - Automobile Broker Business 738 - Contracts; Requirements and Contents.

§ 738. Contracts; requirements and contents. 1. Every contract between a  consumer  and  an  automobile  broker business for the purchase of an automobile shall be in writing, shall be dated, shall contain the street address of the automobile broker business and the consumer and shall  be signed  by  the  consumer  and  by the automobile broker business. Every contract shall comply with the requirements set forth  in  this  section and contain the following:  (a)  A complete description of the automobile and each option, if any, ordered;  a  statement  of  whether  the  automobile  is  or   will   be manufactured  in  accordance with United States specifications and is or will be certified by the manufacturer as such; if the automobile is  not or  will not be manufactured in accordance with United States safety and environmental  specifications,  and  the  consumer  has   retained   the automobile  broker  business  to  arrange  for  the  modification of the automobile to meet such specifications, the name and street  address  of the modification facility and a statement in immediate proximity to such information  that  the automobile broker business assumes full financial responsibility that the automobile will be properly modified to meet all United States safety and environmental specifications.  (b) The price of the automobile including any options ordered. If  the price  set  forth  is  an  estimated  price,  a  statement  in immediate proximity to the price that the price is an  estimated  price  only  and that  the consumer has the right to cancel the contract and to receive a full refund if the final price exceeds the estimated price by more  than five percent.  (c)  The  estimated  delivery  date of the automobile and the place of delivery and  a  statement  in  immediate  proximity  to  the  estimated delivery  date  that,  if  the  automobile  has  not  been  delivered in accordance with the contract within thirty days following such estimated delivery date, the consumer has the right to cancel the contract and  to receive  a  full refund, unless the delay in delivery is attributable to the consumer.  (d)  A  statement  of  whether  or  not  the  manufacturer's  warranty accompanying  the  automobile  is the same warranty as that furnished to purchasers of that make automobile from an authorized dealer located  in the United States.  (e)  A  description  of  any  other services and an itemization of the charges for each. Such  description  shall  include  disclosure  of  the automobile  dealer  from  which the automobile was purchased, as well as all fees, commissions  or  other  valuable  considerations  paid  by  an automobile  dealer  to  the  automobile  broker  business  for  selling, arranging, assisting or effecting the sale of an  automobile  as  agent, broker, or intermediary between the consumer and the automobile dealer.  (f)  If a consumer elects to cancel the contract pursuant to paragraph (b) or (c) of this subdivision, he or she shall notify  in  writing  the automobile broker business at the address specified in the contract. The automobile  broker  business  shall  make  a full refund to the consumer within ten business days following receipt of the request for a  refund. The  contract  shall  contain  a statement, setting forth the consumer's right to cancel the contract  under  paragraphs  (b)  and  (c)  of  this subdivision   and  the  refund  obligations  of  the  automobile  broker business.  (g) The statements required by paragraphs (a), (b), (c),  and  (f)  of this subdivision shall be printed in at least ten point bold type.   2. The contract shall be accompanied by a completed form in duplicate, captioned  "Notice  of  Cancellation"  which  shall  be  attached to the contract and easily detachable, and which shall contain in at least  ten point type the following:                          "Notice of Cancellation"     "You  may  cancel  this contract, without any penalty or obligation, within three days from the date that a copy of an executed  contract  is received by you.     To cancel this  contract,  mail or  deliver a  signed and dated copy of this cancellation notice, or any other written notice, to  (__________________________________) at (________________________)  name of automobile broker business            address  not  later  than  midnight  of the third day following your receipt of a signed contract.  I hereby cancel this transaction."                                     _________________________________                                       signature of consumer)                                         _________________________                                                  (date)    3. An automobile broker business shall deliver to the consumer or mail to him or her at the address shown on the  contract,  an  executed  copy thereof.   4.  An  automobile  broker  business  in any transaction involving the lease of a vehicle shall provide the retail lessee with a  retail  lease agreement  as  provided for in section three hundred thirty-seven of the personal property law. The automobile broker  shall  provide  a  written disclosure  of  the amount of any fee, commission or other consideration paid or expected to be paid by  the  lessor  to  the  automobile  broker business  in  connection  with  a  transaction  involving the lease of a vehicle. Such disclosure shall be  signed  by  the  retail  lessee.  The automobile broker business shall provide the retail lessee with a signed copy  of  such  disclosure  together  with  the  retail  lease agreement referenced herein.