Statute Text
Definitions for ORS 83.510 to 83.680.
As used in ORS 83.510 to 83.680 except where the context otherwise requires:
(1) Cash sale
price means the price for which the motor vehicle dealer would sell to the
buyer, and the buyer would buy from the motor vehicle dealer, the motor vehicle
that is covered by the retail installment contract, if the sale were a sale for
cash instead of a retail installment sale. The cash sale price may include any
taxes, registration, license and other fees and charges for accessories and
their installation and for delivering, servicing, repairing or improving the
motor vehicle.
(2) Finance
charge means that part of the time sale price that exceeds the aggregate of
the cash sale price, the amounts, if any, included in a retail installment sale
for insurance and other benefits, and official fees.
(3)(a) Financing
agency means a person engaged, in whole or in part, in purchasing or otherwise
acquiring retail installment contracts or retail lease agreements from one or
more motor vehicle dealers or retail lessors. Financing agency includes, but
is not limited to, financial institutions, as defined in ORS 706.008, and
consumer credit companies, if so engaged. Financing agency also includes a
motor vehicle dealer or retail lessor engaged, in whole or in part, in the
business of holding retail installment contracts or retail lease agreements
acquired from retail buyers or retail lessees.
(b) Financing
agency does not include the pledgee or other holder of more than one retail
installment contract or retail lease agreement pledged or otherwise given by a
motor vehicle dealer or a transferee from the motor vehicle dealer to a lender
as collateral security for a loan made to the motor vehicle dealer or
transferee of the motor vehicle dealer.
(4) Holder of a
retail installment contract or retail lease agreement means the motor vehicle
dealer or retail lessor of the motor vehicle covered by the contract or lease
or, if the contract or lease is purchased or otherwise acquired by a financing
agency or other assignee, the financing agency or other assignee.
(5) Mobile home
means a structure, transportable in one or more sections, that is eight body
feet or more in width and 32 body feet or more in length, and that is built on
a permanent chassis and designed to be used as a dwelling with or without a
permanent foundation when connected to the required utilities. Mobile home
includes the plumbing, heating, air conditioning and electrical systems
contained within the structure.
(6)(a) Motor
vehicle or vehicle means:
(A) A
self-propelled device used for transportation of person or property upon a
public highway.
(B) A trailer,
semitrailer, mobile home or trailer home.
(b) Motor
vehicle or vehicle does not include tractors, power shovels, road machinery,
agricultural machinery, boat trailers or other machinery not designed primarily
for highway transportation, which may be used incidentally to transport persons
or property on a public highway, or devices that move upon or are guided by a
track or travel through the air.
(7) Motor
vehicle dealer means any person who sells, trades, leases, displays or offers
for sale, trade, lease or exchange motor vehicles pursuant to a retail
installment contract or retail lease agreement or who offers to negotiate or
purchase motor vehicles on behalf of third parties pursuant to a retail
installment contract or retail lease agreement.
(8) Official
fees means the filing or other fees required by law to be paid to a public
officer to perfect the interest or lien, in or on a motor vehicle, retained or
taken by a motor vehicle dealer under a retail installment contract or retail
lease agreement, and to file or record a release, satisfaction or discharge of
the contract.
(9) Person
means individual, partnership, corporation, association or other group, however
organized.
(10) Retail
buyer or buyer means a person who buys a motor vehicle from a motor vehicle
dealer and who executes a retail installment contract in connection therewith.
(11) Retail
installment contract or contract means an agreement, entered into in this
state, pursuant to which the title to, the property in or a lien upon a motor
vehicle, which is the subject matter of a retail installment sale, is retained
or taken by a motor vehicle dealer from a retail buyer as security, in whole or
in part, for the buyers obligation. Retail installment contract or contract
includes a chattel mortgage, a conditional sales contract and a contract for
the bailment or leasing of a motor vehicle by which the bailee or lessee
contracts to pay as compensation for its use a sum substantially equivalent to
or in excess of its value and by which it is agreed that the bailee or lessee
is bound to become, or for no other or for a merely nominal consideration has
the option of becoming, the owner of the motor vehicle upo