NJ S2087

Prohibits dealers from selling used motor vehicles "as is" to consumers, except for vehicles declared a total loss or issued salvage titles, provided the consumer receives written disclosure of that status prior to sale.

Requires dealers to offer a 2-day contract cancellation option for used vehicles priced under $40,000, allowing consumers to return vehicles without cause for fees ranging from $75 to 1% of the purchase price depending on vehicle cost.

Establishes minimum warranty requirements based on mileage: 90 days/3,750 miles for vehicles under 40,000 miles; 60 days/2,500 miles for 40,000-79,999 miles; 30 days/1,250 miles for 80,000-124,999 miles; and implied warranties only for vehicles with 125,000+ miles.

Prohibits dealers from selling vehicles as "certified" if they have odometer discrepancies, lemon law buyback history, flood/salvage/junk titles, frame damage affecting safety, or if warranties of merchantability are disclaimed.

Mandates dealers display notices at least 8"x10" in sales areas and include contract language informing consumers that no cancellation period exists unless they purchase the contract cancellation option.