H 297 Massachusetts House · 193rd Legislature (2023-2024)

An Act relative to the financing of motor vehicle purchases

This bill amends Massachusetts law to restrict how consumers can finance their motor vehicle purchases. Specifically, it prohibits buyers from obtaining financing from sources other than the dealership where they purchase the car. This change directly affects individuals buying vehicles by limiting their ability to secure loans from independent lenders or credit unions. The legislation modifies existing statutes to enforce this financing restriction, ensuring that dealerships remain the sole providers of vehicle loans.
Bill status passed 3 of 4 stages cleared
Introduction
Feb 2023
Committee Review
Feb 2023
Senate Passage
Feb 2023
Governor
Introduced Feb 16, 2023 Last action May 30, 2024
Floor votes

How they voted

This bill passed the Senate. No roll call record of that vote is available.
Full legislative history

Actions timeline

Total actions
5
Key actions
1
Committee
1
Feb 16, 2023
Upper · Passed
Senate concurred
upper
Feb 16, 2023
Committee
Referred to the committee on Consumer Protection and Professional Licensure
lower
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Bill Galvin
Bill Galvin
DDemocratic
MA
6th Norfolk