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MI HB5984
Bill
Status
Introduced
9/26/2024
Primary Sponsor
Kimberly Edwards
Click for details
AI Summary
- Requires used motor vehicle dealers to offer consumers a contract cancellation option agreement for used vehicles priced at $50,000 or less
- Allows consumers to return vehicles without cause within 2 days of purchase, with up to 150 miles of driving permitted, and receive a full refund minus a restocking fee
- Permits dealers to charge nonrefundable fees for the cancellation option agreement ranging from $75 to 1% of purchase price depending on vehicle cost, and restocking fees up to $500
- Exempts motorcycles, off-highway vehicles, vehicles over $50,000, and private party sales from the cancellation option agreement requirement
- Allows consumers to recover actual damages, costs, and attorney fees for violations of the act, effective 180 days after enactment
Legislative Description
Trade: vehicles; used motor vehicle cancellation option agreement; provide for. Creates new act.
Trade: vehicles
Last Action
Bill Electronically Reproduced 10/15/2024
10/15/2024
Committee Referrals
Transportation, Mobility And Infrastructure9/26/2024
Full Bill Text
No bill text available