Signed by Governor Jerry Brown, Jr.

Vote Smart's Synopsis:

Vote to pass a bill that requires buy-here-pay-here dealers to label vehicles with reasonable market value prices.

Highlights:

• Requires buy-here-pay-here dealers to label used vehicles being offered for retail sale with a sign stating the “reasonable market value” of the vehicle and must be displayed in a specific manner including, but not limited to, the following (Sec. 1):
• Must be in writing;
• Must be in at least 16-point bold type and text in at least 12-point type;
• Must be adjacent to the window sticker that identifies the equipment provided with the vehicle; and
• Must indicate that the reasonable market value is being provided only for comparison shopping purposes and is not the retail sale price.

• Defines “reasonable market value” as the average retail value of a used vehicle based on the condition, mileage, year, make, and model of the vehicle, as determined within the last 60 days by a nationally recognized pricing guide (Sec. 1).

Full Bill Text