Committee advances bill to allow regulated vehicle value protection agreements

House Bill 504, LC 394621, which would authorize and set consumer-protection rules for vehicle value protection agreements, was presented to a Georgia House subcommittee and received a committee motion to pass after extended questions from members. The presenter described the measure as a way to give car buyers a voluntary tool to cover unrecovered vehicle value at time of loss, theft or depreciation.

“I wanna thank you for the opportunity to present to you House Bill 504. That's LC 39 46 21,” the bill sponsor said, introducing the proposal as “a step towards ensuring consumer protection and market competitiveness in Georgia's automotive industry.” The bill, as explained to the panel, would define vehicle value protection agreements (VVPAs) as optional contracts offered by dealers and financial institutions and would require clear…