Colorado Revised Statutes Title 5. Consumer Credit Code § 5-9.3-101. Definitions

(1) “Consumer finance agreement” or “finance agreement” means a retail installment sales contract or consumer credit transaction, other than a consumer lease, for the purchase or refinance of a motor vehicle.

(2) “Deficiency balance” means the amount owed by the consumer under a consumer finance agreement at the time of a total loss of the consumer's motor vehicle that was collateral securing the consumer finance agreement, calculated in accordance with the terms of the finance agreement.

(3) “Guaranteed asset protection administrator” or “GAP administrator” means the person, other than the creditor or insurer, that performs the administrative or operational functions pursuant to the GAP agreement.

(5) “Guaranteed asset protection fee” or “GAP fee” means the fee, charge, premium, or other amount that a creditor may charge a consumer for a guaranteed asset protection agreement.

(6) “Motor vehicle” means a self-propelled or towed vehicle designed for personal or commercial use, including but not limited to automobiles, trucks, motorcycles, recreational vehicles, all-terrain vehicles, snowmobiles, campers, boats, personal watercrafts, and related trailers.

(7) “Original creditor” means the creditor that makes or arranges a consumer finance agreement with a consumer and to which the finance agreement is initially payable. “Original creditor” does not include any assignee of the finance agreement.

(8) “Retail installment sales contract” means a retail contract to sell a motor vehicle to a consumer in which: