HB4680 Summary

• Requires new and used motor vehicle dealers to disclose all known defects for vehicles sold at $1,000 or more under the Consumer Fraud and Deceptive Business Practices Act.

• Dealers must cover repair costs for Power Train components (engine, transmission, drive shaft, rear axle, and related parts) for 30 days after delivery, with cost-sharing based on vehicle price and age.

• For vehicles sold under $3,000, dealers pay 50% of repairs for vehicles not more than 2 years old, 25% for 2-3 year old vehicles, 10% for 3-4 year old vehicles, and 0% for vehicles 4+ years old.

• For vehicles sold at $3,000 or more, dealers are responsible for 100% of Power Train component repair costs during the 30-day period.

• Dealers and consumers may mutually agree to sell vehicles "as is" with no warranty if this disclosure is stamped in 10-point bold type above the signature line on the purchase agreement.