Motor Vehicles - As introduced, enacts the "Tennessee Vehicle Value Protection Product Act." - Amends TCA Title 47; Title 55 and Title 56.

HB 2231 creates the "Tennessee Vehicle Value Protection Product Act" to regulate agreements that cover diminished vehicle value after accidents, total loss, or theft. It requires providers (like dealers or third parties) to guarantee their obligations through insurance, clearly disclose terms and cancellation policies to buyers, and prohibits dealers from forcing customers to purchase these agreements as a condition of financing or vehicle sales. The bill directly affects vehicle buyers (contract holders), dealers, and providers offering these agreements, which cover scenarios like trade-ins after accidents or replacement vehicle credits. Key provisions include mandating insurance-backed guarantees, prohibiting coercion, and defining excluded products like standard service contracts.