An installment sale agreement, at the time it is consummated in the dealership, is between:

An extended warranty describes the aftermarket product purchased by a customer to reimburse him or her for the cost of mechanical failures that occur after the factory warranty expires and within the coverage period limitations set forth in the contract.

With certain exceptions, if after purchasing GAP coverage, the customer does not have property insurance (comprehensive and collision coverage) in force at the time of loss, then:

According to the provisions of the Red Flags Rule, if a red flag discrepancy has not been fully cleared by the customer and confirmed by management, the vehicle can be spot delivered, but the sale cannot be officially consummated.

After being quoted a 12% APR, if the customer asks whether that is the best rate available, the F&I practitioner should:

According to the Consumer Leasing Act, a lessor may extend an existing lease without new disclosures on a month-to-month basis so long as the maximum term is six months or less.

As it relates to F&I practices, the Equal Credit Opportunity Act / Reg. B prohibition regarding disparate pricing practices means:

A customer wishes to pay for a used car with four cashier’s checks drawn on four different banks in the amounts of $7,500, $6,800, $3,000, and $8,300. Since none of the checks exceeds $10,000, the F&I person need not complete IRS / FinCEN Form 8300.

As mandated by the Risk-Based Pricing Rule, the NADA-model consumer credit score disclosure form must be disclosed:

A customer buying a new car is paying $5,000 cash down and owes $7,500 more on the trade-in than was allowed. In this case, the postings on the installment sale agreement can be: