IL HB4377

Establishes a 15-day or 500-mile implied warranty of merchantability (whichever comes first) for used motor vehicles sold by licensed dealers or public auctions, effective after the bill's enactment date.

Warranty covers power train components including engine, transmission, drive shaft, rear axle, and related internal parts; excludes vehicles with over 150,000 miles or rebuilt/flood-branded titles.

Consumers must pay up to $100 for each of the first 2 repairs needed to comply with warranty; seller must be given reasonable notice within 2 business days after warranty period ends and opportunity to repair before other remedies apply.

Sellers' maximum liability is limited to the purchase price of the vehicle, refunded upon return of the vehicle.

Requires sales agreements to include a conspicuous 10-point boldface disclosure statement explaining the warranty terms; consumers may waive warranty only for specific disclosed defects with written acknowledgment.