Relating To Motor Vehicles.
If enacted, SB1164 will amend Chapters 481I and 481J of the Hawaii Revised Statutes. It will require all dealers, whether selling new or used vehicles, to visibly display the projected lifetime operating cost alongside the listed purchase price. This change is expected to provide consumers with crucial information that could influence their buying decisions and potentially encourage the purchase of more cost-effective vehicles. By promoting awareness of long-term costs, the bill aims to facilitate a more informed consumer marketplace.
SB1164, also known as the Motor Vehicle Lifetime Operating Cost Disclosure Act, mandates that dealerships provide prospective buyers with written notice of the projected lifetime operating costs for both new and used motor vehicles. This includes estimates for ten-year fuel costs and expected maintenance and repair expenses. The objective of the bill is to improve transparency in vehicle sales and help consumers make informed purchasing decisions based on the total cost of ownership rather than the purchase price alone.
While there is general support for increased transparency in car sales, concerns have been raised regarding the potential administrative burden on dealerships to accurately calculate and display these projected costs. Critics argue that this requirement could lead to disputes over cost estimates and might disproportionately affect smaller dealers who may lack the resources to implement the necessary disclosures effectively. Furthermore, the methodology for calculating these projected costs has not been standardized, potentially leading to confusion for consumers.