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Texas Senate Committee Approves House Bill to Allow Trade-In Credits on Vehicles
Wednesday, May 17, 2017 6:50 AM

House Bill 2339 by Rep. Senfronia Thompson (D-Houston) allows vehicle dealers to offer a trade-in credit agreement to buyers. The agreement would provide a vehicle buyer with a credit toward the purchase or lease of a new vehicle if theirs suffers a non-total loss as a result of a collision. This credit would be applied toward the purchase or lease of a different vehicle from the retail seller or an affiliate.

The bill was unanimously passed by the House and, with the Senate committee action, now heads to the full Senate for consideration.

For more information, please contact Texas Credit Union Association President Jeff Huffman at 469-385-6488 or jhuffman@txcua.coop.