California Assembly to Vote on Markup Bill

SACRAMENTO, Calif. -- In California, AB 1839, dubbed the 'car buyer's bill of rights,' passed out of the appropriations committee on Wednesday. The Assembly will reportedly vote on the bill as early as next week.

The bill initially sought to do away with finance reserve altogether. It was amended last week to let the dealer charge a markup for arranging financing as long as it is disclosed.

AB 1839 includes other provisions for car buyers. It gives them at least three days after purchasing a car to cancel the contract. It also would explicitly define what qualifies as a certified used vehicle and enforce that standard among dealers.