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Committee backs bill to authorize vehicle-value protection agreements, set consumer protections
2477964 · March 3, 2025
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Summary
House Bill 504 would authorize voluntary vehicle value protection agreements (VVPAs) for both financed and cash purchases, require disclosures, a 30‑day free‑look period and allow attorney general enforcement. Committee approved the bill by voice vote.
The House Regulated Industries Committee voted to advance House Bill 504, which creates a regulatory framework for voluntary vehicle value protection agreements (VVPAs) designed to cover gaps between a vehicle's value and the owner's remaining loan or trade-in amount in the event of loss, theft, damage or…
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