Common use of MOTOR VEHICLE LEASING AND SALES Clause in Contracts

MOTOR VEHICLE LEASING AND SALES. Checks for the sale or lease of a Motor Vehicle shall not be processed unless all the following requirements are met: 1) A valid approval number shall be obtained on each qualified check; 2) the down payment price shall not exceed thirty-five percent (35%) of the cash price of the vehicle, excluding trade-ins and manufacturer’s rebate, dealer incentives and taxes. Should YOUR STORE(s) accept a check which exceeds this amount, said check shall be ineligible for prospective warranty reimbursement; 3) Should the sale or lease be financed, said sale or lease shall be financed by a finance company that does not have common ownership with YOUR STORE(s). Pre- paid leases are ineligible for prospective warranty reimbursement. Check Center shall not process checks issued and presented for purchases and/or leases which subsequently result in a rollback, rescission or an unwound deal.

MOTOR VEHICLE LEASING AND SALES. Checks for the sale or lease of a Motor Vehicle shall not be processed unless all the following requirements are met: 1) A valid approval number shall be obtained on each qualified check; 2) the down payment price shall not exceed thirty-five percent (35%) of the cash price of the vehicle, excluding trade-ins and manufacturer’s rebate, dealer incentives and taxes. Should YOUR STORE(s) accept a check which exceeds this amount, said check shall be ineligible for prospective warranty reimbursement; 3) Should the sale or lease be financed, said sale or lease shall be financed by a finance company that does not have common ownership with YOUR STORE(s). Pre- Pre-paid leases are ineligible for prospective warranty reimbursement. Check Center shall not process checks issued and presented for purchases and/or leases which subsequently result in a rollback, rescission or an unwound deal.