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Committee advances bill to allow and regulate vehicle value protection agreements (VVPAs)
2482281 · March 3, 2025
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Summary
Representative Monahan told lawmakers House Bill 504 would create a regulated framework allowing dealerships and lenders to offer voluntary vehicle value protection agreements (VVPAs) to both financed and cash purchasers.
Representative Monahan presented House Bill 504 as a consumer-protection measure to introduce a regulated framework for vehicle value protection agreements, which sponsors call VVPAs. Monahan said VVPAs differ from traditional GAP insurance by being available to both financed and cash purchasers and by offering a…
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