SB3450 Summary

• Amends the Consumer Fraud and Deceptive Business Practices Act to restrict used vehicle warranty requirements to vehicle auctioneers licensed under the Illinois Vehicle Code, rather than all auctioneers that auction vehicles.

• Licensed vehicle dealers and licensed vehicle auctioneers must provide a limited implied warranty of merchantability on used motor vehicles sold after July 1, 2017, covering power train components for 15 calendar days or 500 miles, whichever is earlier.

• Consumers may waive the implied warranty only for specific disclosed defects by signing a conspicuous statement before purchase; violations make the purchase agreement voidable at the consumer's option.

• Consumers pay one-half the cost of the first 2 repairs (maximum $100 per repair) to bring vehicles into compliance, with seller liability capped at the purchase price.

• Exemptions apply to vehicles with over 150,000 miles, rebuilt or flood-branded titles, gross vehicle weight of 8,000+ pounds, antique vehicles, collector vehicles, and vehicles with comparable express warranties.