The bill, S.B. No. 229, aims to prohibit retail sellers of motor vehicles from imposing certain restrictions on the purchase of vehicles, specifically when the buyer is using their own funds or third-party financing. It introduces a new section, 348.415, to the Finance Code, which states that a retail seller cannot increase the sale price for a buyer who pays with their own money or a loan from an independent third-party lender. Additionally, the bill prohibits sellers from preventing buyers from paying the sale price at the time of sale using these same payment methods.

Furthermore, the bill mandates that retail sellers must not make any false or misleading representations that contradict the provisions outlined in this section. The changes enacted by this bill will only apply to agreements made on or after its effective date, which is set for September 1, 2025.

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