An Act modernizing protections for consumers in automobile transactions

This bill updates Massachusetts laws to strengthen consumer protections in car buying and leasing by clarifying warranty requirements and expanding legal definitions. It requires dealers to provide specific limited warranties for used vehicles based on their mileage, ensuring buyers receive coverage for a set number of days or miles after purchase. The legislation also increases the maximum bond amount for dealers from $25,000 to $50,000 to provide greater financial security for consumers who suffer losses. Additionally, the bill refines the definitions of key terms like "lease" and "retail installment contract" to better cover modern financing arrangements and clarifies what constitutes a default under these agreements.