01
June
2024

Vehicle Dealer Financial Disclosure & Associated Cooling-Off Period

State Senator Maria Collett introduced a cosponsorship memo for increased financial disclosures and mandatory cooling-off periods. The legislation has not been referred to a committee yet. MIADA is actively educating the legislature about the potential burdensome requirements of this memo. Additionally, the House unanimously passed House Bill 816, requiring photo evidence of violation for removing a vehicle in Philadelphia. The bill is now on its way to the Senate for consideration, and MIADA will continue to monitor its progress.

Vehicle Dealer Financial Disclosure & Associated Cooling-Off Period

On April 5th, 2024, State Senator Maria Collett (Montgomery-D) introduced a cosponsorship memo calling for increased financial disclosures and mandatory cooling-off periods. MIADA is writing to ensure that its members are aware of the legislation and that MIADA has already started educating the legislature about the burdensome requirements that this cosponsorship memo entails.

As the legislation’s language has not yet been introduced, the bill has not been referred to a committee. The pending legislation would require a disclosure containing supporting information on financing, providing notice of other potential costs, and advising consumers that seeking additional finance offers can reduce monthly payments and/or total costs. In addition, the legislation would require that a new disclosure be provided if a different amount of interest or different financing without interest is offered after the initial disclosure is provided. MIADA has taken notice of this burdensome requirement and has begun educating about how independent automobile dealers operate in the Commonwealth and how this legislation is unnecessary.

Finally, the legislation would also require a waiting or “cooling-off” period after a disclosure is provided before a contract is presented. As the language of the legislation has yet to be introduced, we do not know the specific length of the cooling-off period, but MIADA is keenly aware that any cooling-off period would not be in the best interest of our customers.

The key role of MIADA’s legislative and advocacy efforts is to ensure that legislators and staff are educated about Pennsylvania’s independent automobile dealers and the clientele that we serve.

MIADA is and will continue to closely monitor this legislation as the language is introduced and referred to a committee.

REQUIRING PHOTO EVIDENCE OF A VIOLATION IN PHILADELPHIA:
On April 10, 2024, the House unanimously passed House Bill 816, which required photo evidence of violation for removal of a vehicle in Philadelphia.

The legislation outlines that in the City of Philadelphia, the Philadelphia Parking Authority (PPA), must take digital photographs if a vehicle is found to be stopped, standing, or parked in violation, before its removal.

House Bill 816 passed the House 200- 0 and is now on its way to the Senate for consideration. MIADA will continue to monitor this legislation and keep our members updated.

As seen in our Magazine

Categories: Dealer News Stories

Tyler Burke

Tyler Burke

Tyler is an Associate at Milliron & Goodman. He is currently responsible for providing research, bill analyses, and legislative updates to ensure clients have the most current and accurate information available. Additionally, Tyler helps create and implement grassroots initiatives and draft legislation and amendments, focusing on transportation, healthcare, and education policy. Tyler has also assisted multiple clients in completing the Department of State’s Sunrise Evaluation Form.

Before joining the firm, Tyler worked as a paralegal, where he improved his critical thinking and legal writing skills. Tyler also has experience as an intern in a District Attorney’s office, where he conducted legal research on crimes and types of perpetrators.

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