Regulates pay-off of trade-in vehicles and certain vehicle title releases.

This bill requires used car dealers to pay off any remaining loan balance on a trade-in vehicle within 15 days of taking possession and provide proof of payment to the seller upon request. It directly affects dealers who buy trade-ins with outstanding loans and the consumers who trade in those vehicles. Key provisions include penalties of up to $2,000 for dealers who fail to pay loans on time, plus additional costs for late payments, and updated rules for dealers to provide proof of payment. The bill also amends title transfer procedures to ensure timely release of vehicle titles once loans are satisfied.