Bill > H2845

This bill establishes a 3-day right to cancel for consumers purchasing new or used motor vehicles from a dealer, meaning buyers can back out of the purchase within three days, not counting holidays, after signing the contract. The dealer, defined in section 1 of chapter 90D of the General Laws, must provide this cancellation policy to the buyer at the time of sale, and it must be clearly stated in large, bold print as part of the purchase contract. If a buyer trades in a vehicle as part of the deal, the dealer is required to keep the trade-in vehicle safe and cannot sell it until the 3-day cancellation period has passed; if the dealer violates this by selling the trade-in early, the buyer is entitled to compensation equal to the trade-in's full sale price or its fair market value, whichever is greater.