HI HB1666

Caps new motor vehicle dealer markups at 5% above the manufacturer's suggested retail price (MSRP), with "markup" defined as the difference between selling price and the sum of invoice price plus destination charge.

Prohibits any markup on new vehicle sales during a governor-declared state of emergency when specified in the emergency proclamation.

Requires dealers to disclose markup amounts and justifications in purchase agreements, with buyers separately acknowledging and consenting to the disclosure.

Mandates dealers retain markup records and buyer acknowledgments for at least 3 years.

Prohibits dealers offering direct financing from adding charges to interest rates beyond those based on the consumer's underwriting risk or credit characteristics; effective July 1, 2026.