| 3 State Bills Targeting Buy Here Pay Here Dealers Advance
And on Tuesday, the Assembly approved bills requiring the dealers to provide limited warranties on the cars they sell, disclose more information about vehicle values and prevent the installation of electronic tracking or disabling devices without written consent from customers, among other measures. Both of those bills will now be considered in the Senate, while the Lieu bill has been forwarded for review in the Assembly. The national chain argued that the value of used cars is constantly depreciating, that will confuse consumers. Supporters of the bills include Consumer Action and Consumers for Auto Reliability and Safety. ". Buy Here Pay Here dealers, in contrast to other auto retailers, issue their own in-house loans on the cars they sell. In addition, Carmax Inc. In particular, the group opposed a provision that would require Buy Here Pay Here dealers to offer a warranty covering major components for at least 30 days or 1,000 miles. Last week, the National Independent Automobile Dealers Assn. The legislation follows a sequence of articles published in the Los Angeles Times last year that explored the costs and tactics of the highly profitable business, which is estimated to sell more than 2 million cars a year nationwide. |
Saturday, 2 June 2012
3 State Bills Targeting Buy Here Pay Here Dealers Advance
