Senate Bill No. 194 Summary

• Permits purchasers of used motor vehicles from dealers to rescind the purchase within 72 hours if the vehicle has a nonconformity that substantially impairs its use, market value, or safety.

• Purchaser must return the vehicle to the dealer's place of business and notify the dealer of the nonconformity and intent to rescind within the 72-hour window.

• Dealers are exempted from rescission rights if they plainly disclosed the nonconformity in writing before purchase using "as is," "with all faults," or warranty exclusion language compliant with IC 26-1-2-316.

• Upon successful rescission, dealer must provide either a full refund of the contract price (including trade-in credits) or replacement with a comparable vehicle; prevailing purchasers select the remedy.

• Purchasers may bring civil actions in circuit or superior court within two years of rescission notice and may recover attorney's fees and costs if they prevail.