| | | | | | Title & Registration & AID Form Changes & Updates The following forms are approved for use by the Motor Vehicle Statute Review Committee and the State Registration Section, or the Auto Industry Division and the Dealer Board. Most current changes first.
- FTC Buyers Guides (Effective 01/27/2017)
- Old Buyers Guides can be used for up to one year
- This form is mandatory for used vehicles. Exceptions are: motorcycles, agricultural equipment, and vehicles sold for parts if the title is marked "junk". For full instructions, read: The Dealers Guide to the Used Car Rule
- DR 2434 Disclosures Required as Part of a Motor Vehicle/Powersports Vehicle Sale (Rev. 05/26/16)
- Begin using this form immediately!
- This form is mandatory for each sale.
- DR 0024 Standard Sales Tax Receipt (Rev. 05/12/16)
- Cutoff date for old form: 06/30/15
- DR 0025 Statement of Sales Taxes Paid on Motor Vehicle Leases (Rev. 05/19/16)
- Cutoff date for old form: 06/30/15
- Temporary Permit & Permit Boards (implementation date 07/01/16)
- New regulation advanced by law enforcement to increase the security and visibility of temporary tags while also providing timely registration information. Once the process is fully implemented, everything will be printed on regular paper without having to hand write the permit or send in the stubs. Dealers will go to a website to print OR have site integrated into the Dealer Management System (DMS). The first sheet printed will be the permit that will be inserted into a "permit board" and the second sheet will be the registration given to the buyer - no need to keep track of permit numbers or sending in the registration stubs. Once the temporary tag is printed, law enforcement and the state will have immediate access to the owner and vehicle information.
- The state required "permit board" is weatherproof and MUST BE FASTENED TO THE REAR LICENSE PLATE HOLDER - PERMITS WILL NO LONGER BE ALLOWED TO BE PLACED INSIDE ON THE REAR WINDOW.
- Permit boards are available now through CIADA for member price of $175 per box of 100, or $200 per box for non-members. Packs of 25 or 50 are also available. You will need to use these "permit boards" in place of the permits currently purchased through counties.
- Department of Revenue will provide state-wide training beginning the first week of June - full implementation will take place July 1, 2016.
- The following DMS systems have been set up: ADP, Auto/Mate, Automotive Arts, Dealer Track, Desk Manager, Frazer, ProMax, Skywerks, Smart Lot. If you are using a DMS not listed, contact Todd at CIADA, 303-239-8000 or [email protected] , with a contact name and phone number so he can submit to the state for integration into your system.
- Rocky Mountain Banknote 645-ARB and 649 Security Agreements (Rev. 06/16)
- New versions with a Revision date of 06/16 will be available in June. These revisions will require DMS programming changes!
- New provisions and other changes have lengthened the pre-printed versions of both forms. The primary change in the 645-ARB contract is a revised Arbitration provision - arbitration is frequently subject to attack in court cases and by regulators. Other updates focus on strengthening various notices and disclaimers along with an express consent for text messages and calls to cell phones. On the 649 contract, there is an added GAP agreement option in addition to the strengthened notices, disclaimers, and cell phone provisions.
- Most lenders allow at least a two-month time frame after the month of revision for switch-over to the revised version.
- DR 2174 Power of Attorney (Rev. 03/04/16)
- Cutoff date for old form: 07/07/16
- Used for title assignment if issue date of a surrendered title indicates the title was issued prior to the date of sale:
- The seller(s) must sign the surrendered title releasing their interest
- A secure power of attorney may be used/ however, the seller and buying entity must also sign the odometer disclosure on the surrendered title.
- The buying entity shall NOT sign the surrendered title on behalf of the seller using a DR 2174 Power of Attorney for a Motor Vehicle to acknowledge the odometer disclosure
- If the issue date of the surrendered title is after the date of sale, or the title shows a lien and the lien was released after the date of sale:
- The seller(s) signature on a DR 2174 Power of Attorney for a Motor Vehicle is sufficient to release the owner's interest.
- The buying entity must sign the title on behalf of the seller, releasing the seller(s) interest and acknowledging the odometer disclosure, and must also sign as the buying entity.
- A signed reassignment document will not be accepted unless accompanied by a correctly executed title.
For questions, contact the Colorado State Title Section: 303.205.5608 or the Colorado State Registration Section: 303.205.5607 |
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