Which of the following statements is true regarding "as is" vehicles?

The statement that "as is" must be clearly identified on the purchase contract is correct. This requirement ensures that buyers are fully aware they are purchasing the vehicle without any warranties or guarantees regarding its condition. By having the "as is" designation explicitly stated in the purchase contract, it protects both the dealer and the buyer by making the terms of the sale clear and transparent, thereby reducing the risk of disputes over vehicle defects or issues after the sale.

This clarity in documentation is especially important in Wisconsin, where consumer protection laws require that buyers are informed about the nature of the sale. Without this clear identification, dealers could potentially face legal challenges from buyers who later claim they were unaware they were buying a vehicle with no warranties.