§ 138.4603

138.4603 Determination of motor vehicle retail price for sales on or after July 1, 2014. (1) (a) Effective for sales on or after July 1, 2014, of: 1. New motor vehicles; 2. Dealer demonstrator vehicles; 3. Previous model year motor vehicles; and 4. U-Drive -It mot or vehicles that have been transferred within one hundred eighty (180) days of being registered as a U -Drive -It and that have less than five thousand (5,000) miles; the retail price shall be determined by reducing the amount of total consideration given b y the trade -in allowance of any motor vehicle traded in by the buyer. The value of the purchased motor vehicle and the amount of the trade -in allowance shall be determined as provided in subsection (2) of this section. (b) The retail price shall not includ e that portion of the price of the vehicle attributable to equipment or adaptive devices necessary to facilitate or accommodate an operator or passenger with physical disabilities. (2) (a) The value of the purchased motor vehicle offered for registration a nd the value of the vehicle offered in trade shall be attested to in a notarized affidavit. (b) If a notarized affidavit is not available: 1.

of the purchased motor vehicle offered for registration a nd the value of the vehicle offered in trade shall be attested to in a notarized affidavit. (b) If a notarized affidavit is not available: 1. The retail price of the purchased motor vehicle offered for registration shall be determined as follows: a. Ninety percent (90%) of the manufacturer's suggested retail price of the vehicle with all equipment and accessories, standard and optional, and transportation charges; or b. Eighty -one percent (81%) of the manufacturer's suggested retail price of the vehicle with all equipment and accessories, standard and optional, and transportation charges in the case of new trucks of gross weight in excess of ten thousand (10,000) pounds; and 2. The value of the vehicle offered in trade shall be the trade -in value, as established by the reference manual. Effective: June 24, 2015 History: Amended 2015 Ky. Acts ch. 67, sec. 10, effective June 24, 2015. -- Created 2013 Ky. Acts ch. 119, sec. 1 1, effective June 25, 2013.