SB36

SB36 amends Delaware's car purchase contract cancellation option agreements, detailing refund and restocking fee requirements.

SB36 amends Title 21 of the Delaware Code to revise the rules governing car purchase contract cancellation option agreements. The bill specifies that if a dealer sells or transfers title to a vehicle used as a down payment or trade-in, the refund must include the vehicle's fair market value. It mandates that dealers return any down payment or trade-in vehicle to the buyer within a day of the buyer exercising the cancellation right. The bill also outlines restocking fee limits and requires dealers to credit the contract cancellation option price toward the fee.