S0344 - Auto Closing Fees

1 Co-Sponsor

Amend The South Carolina Code Of Laws By Adding Section 56-9-130 So As To Require A Motor Vehicle Dealer Who Charges A Closing Fee To Pay A Registration Fee And Require That The Fee Must Be Included In The Advertised Price Of The Motor Vehicle; To Define The Term Closing Fee; To Establish The Procedures A Dealer Shall Undertake Before Charging A Closing Fee And To Authorize The Secretary Of State To Determine Whether A Closing Fee Is Reasonable; To Provide That A Dealer Who Complies With Certain Statutory Requirements May Lawfully Charge A Closing Fee, To Allow A Motor Vehicle Dealer To Assert Any Defenses Provided To A Creditor Pursuant To Title 37, And To Allow A Purchaser Injured Or Damaged By The Action Of A Motor Vehicle Dealer In Violation Of Certain Statutory Requirements May Assert The Remedies Available Pursuant To Title 37; To Authorize The Secretary Of State To Administer And Enforce Motor Vehicle Dealer Closing Fees, And To Express The Intent Of The General Assembly, And By Repealing Section 37-2-307 Relating To Motor Vehicle Sales Contracts Closing Fees.