§ 2-107 Automobile Contract Cancellation Option.
RCNY § 2-107
(a)To comply with § 20-268.2(a) of the Administrative Code, each second-hand automobile dealer must provide to each consumer the automobile contract cancellation option form shown below on a paper no less than 8.5 inches by 14 inches in dimension, printed in color, in the language in which the sales or finance contract was negotiated. {Click here to view the referenced automobile contract cancellation option form or follow this link: https://www1.nyc.gov/site/dca/businesses/forms.page#car} (b) To establish that a trade-in automobile was sold or transferred inadvertently under § 20-268.2(g)(1) of the Administrative Code, a second-hand automobile dealer must have maintained written policies and procedures designed to avoid such sale and must have distributed such policies and procedures to all employees with responsibility in this area annually.
(c)If a second-hand automobile dealer determines that a consumer has failed to comply with the terms and conditions of a contract cancellation option under § 20-268.2(g)(2), it must provide the consumer a written explanation of such determination. The second-hand automobile dealer must maintain a record of such determination for no less than 6 years and must provide a copy of such record to the commissioner upon request. (Added City Record 5/25/2018, eff. 6/24/2018)
