S 1726 New Jersey Senate · 2024-2025 Regular Session

Requires motor vehicle dealers provide loan application to consumers.

S 1726 requires motor vehicle dealers in New Jersey to provide consumers with a copy of any loan application prepared during a vehicle sale. This directly affects dealers (who must now disclose the application) and consumers (who gain access to their own loan details). The key provision amends existing law to mandate this disclosure at the time of sale, closing a gap where dealers weren't previously required to share loan applications. The bill aims to increase transparency, preventing dealers from potentially submitting inaccurate financial information to lenders to help consumers qualify for loans they might not otherwise receive.
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024 Last action Jan 9, 2024
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Jan 9, 2024
Introduced
Introduced in the Senate, Referred to Senate Commerce Committee
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Paul Moriarty
Paul Moriarty
DDemocratic
NJ
4