Bill > S228

This bill modernizes protections for consumers in automobile transactions by making several key changes to existing Massachusetts law. The bill modifies warranties for used motor vehicles, establishing different warranty periods based on the vehicle's mileage: 90 days or 3,750 miles for vehicles under 50,000 miles, 60 days or 2,500 miles for vehicles between 50,000 and 100,000 miles, and 30 days or 1,250 miles for vehicles between 100,000 and 200,000 miles. It increases the bond requirement for motor vehicle dealers from $25,000 to $50,000 and allows the attorney general to recover damages on behalf of consumers who suffer losses. The bill also updates definitions related to vehicle sales and leases, clarifying terms like "holder," "lease agreement," and "retail seller." Additionally, it establishes more detailed procedures for handling defaults in vehicle financing, including requiring written notice to buyers or lessees before taking legal action or repossessing a vehicle, and providing a 21-day period for consumers to cure defaults. The legislation aims to provide more consumer protections and clearer guidelines in automobile transactions, giving consumers more rights and opportunities to resolve financial issues with vehicle purchases or leases.

Budget and Finance, Labor and Employment

https://malegislature.gov/Bills/194/S228