Wisconsin Motor Vehicle Salesperson Manual Practice Test

Which of the following is NOT required to make a prelease agreement binding?

1. Complete the prelease agreement including signatures of both the dealer and the customer

2. If the vehicle is not available at the time of signing, leave the identification number blank

3. Provide the customer with an exact copy of the prelease agreement

4. Provide the customer with the lease term disclosures required by law

The correct answer is: If the vehicle is not available at the time of signing, leave the identification number blank

A prelease agreement becomes binding when certain criteria are met. The requirement for the agreement to be completed, including the signatures of both the dealer and the customer, is fundamental in establishing the mutual consent and legal recognition of the agreement. This ensures that both parties are in agreement regarding the terms and conditions of the lease before any obligations arise. In contrast, leaving the vehicle identification number blank if the vehicle is not available does not invalidate a prelease agreement; it simply indicates that the specifics of the vehicle will be filled in later. Providing an exact copy of the agreement to the customer is a necessary practice for transparency and record-keeping but does not directly influence the binding nature of the prelease itself. Finally, the lease term disclosures are legally required and serve to inform the customer of their rights and responsibilities but are not a condition for the agreement's validity. Thus, acknowledging that both signatures are essential is why this option is the identifier for what is not necessary to make the agreement binding.