Bill > A00960

This bill establishes new regulations for motor vehicle sales and financing in New York State by granting the superintendent of financial services expanded oversight of car dealer transactions, requiring comprehensive transparency in vehicle purchase contracts, and protecting consumer rights. Specifically, the bill mandates that retail installment contracts must include an itemized breakdown of all costs associated with the vehicle purchase, such as the base vehicle price, options, fees, and total charges, and must prominently display a statement prohibiting conditional vehicle delivery. The legislation also requires dealers to carefully review credit applications with consumers, ensuring all information is accurate and jointly verified, and gives consumers the right to void a vehicle sale within 30 days if dealers fail to comply with these requirements. Furthermore, the bill explicitly prohibits conditional deliveries, meaning once a contract is signed and the vehicle is taken from the dealership, the buyer is the owner and the dealer cannot demand the vehicle's return except in cases of non-payment. These provisions aim to increase transparency, protect consumers from predatory sales practices, and provide clear recourse if dealers do not follow the established guidelines.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A960