Modernizing protections for consumers in automobile transactions in Massachusetts.

Massachusetts S2736 modernizes protections for consumers in automobile transactions by amending the Massachusetts Motor Vehicle Installment Sales Act. It introduces new warranties for used vehicles based on mileage and provides additional rights to consumers who default on payments. The bill also mandates that creditors or lessors give consumers a 21-day period to cure a default before taking action against them or the collateral. It further defines terms such as "retail seller," "retail instalment contract," and "lease agreement" to clarify the scope of the act.

Modernizing protections for consumers in automobile transactions in Massachusetts.

Massachusetts S2736 modernizes protections for consumers in automobile transactions by amending the Massachusetts Motor Vehicle Installment Sales Act. It introduces new warranties for used vehicles based on mileage and provides additional rights to consumers who default on payments. The bill also mandates that creditors or lessors give consumers a 21-day period to cure a default before taking action against them or the collateral. It further defines terms such as "retail seller," "retail instalment contract," and "lease agreement" to clarify the scope of the act.