Florida S0226 amends the definition of "purchase price" in the Motor Vehicle Warranty Enforcement Act to include trade-in allowances.

Florida S0226 revises the definition of "purchase price" under the Motor Vehicle Warranty Enforcement Act. It specifies that the purchase price includes any allowance for a trade-in vehicle as reflected in the purchase contract or lease agreement, provided it is acceptable to both the consumer and the manufacturer. If the allowance is not acceptable, the trade-in allowance must be equal to 100 percent of the retail price of the trade-in vehicle as reflected in J.D. Power. The manufacturer is responsible for providing the applicable J.D. Power valuation.

Florida S0226 amends the definition of "purchase price" in the Motor Vehicle Warranty Enforcement Act to include trade-in allowances.

Florida S0226 revises the definition of "purchase price" under the Motor Vehicle Warranty Enforcement Act. It specifies that the purchase price includes any allowance for a trade-in vehicle as reflected in the purchase contract or lease agreement, provided it is acceptable to both the consumer and the manufacturer. If the allowance is not acceptable, the trade-in allowance must be equal to 100 percent of the retail price of the trade-in vehicle as reflected in J.D. Power. The manufacturer is responsible for providing the applicable J.D. Power valuation.