89R1347 SRA-D
By: West S.B. No. 229
A BILL TO BE ENTITLED
AN ACT
relating to prohibiting a retail seller of motor vehicles from
imposing certain restrictions on the purchase of a motor vehicle.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter E, Chapter 348, Finance Code, is
amended by adding Section 348.415 to read as follows:
Sec. 348.415. RESTRICTIONS ON MOTOR VEHICLE PURCHASES
FUNDED OR FINANCED USING PROSPECTIVE BUYER'S OWN MONEY OR
THIRD-PARTY FINANCING PROHIBITED. (a) A retail seller may not
increase the sale price of a motor vehicle for a prospective buyer
who purchases a motor vehicle with:
(1) the prospective buyer's own money; or
(2) a loan from a third-party lender who is neither the
retail seller nor affiliated with the retail seller.
(b) A retail seller may not prohibit a prospective buyer
from paying the sale price at the time of sale with:
(1) the prospective buyer's own money; or
(2) a loan from a third-party lender who is neither the
retail seller nor affiliated with the retail seller.
(c) A retail seller may not make a false or misleading
representation that is inconsistent with this section.
SECTION 2. The changes in law made by this Act apply only to
an agreement entered into on or after the effective date of this
Act.
SECTION 3. This Act takes effect September 1, 2025.