Attorney General No.
Secretary of State No.
Allows buyer of used automobile to return automobile to dealer, cancel purchase within three business days and receive full refund, less reasonable mileage offset. Requires that dealers disclose credit scores. Limits dealer loan fees to $150; prohibits dealers from accepting additional compensation from certain lenders. Requires dealers to disclose monthly cost of financing optional items. Prohibits advertising or selling used vehicles as certified, except in limited circumstances. Prohibits sale of vehicles failing smog standards. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: Various possible impact on state and local government revenues resulting from changes in the financing of vehicle sales. The net fiscal impact of these changes is unknown.
James C. Harrison, Douglas G. Denton
Failed to Qualify
Automobile Dealers. Buyers' Rights to Cancel Purchase. Seller Disclosures. Initiative Statute. California Initiative 1109 (2005).