SALEM, Ore. — An Oregon bill aimed at placing severe restrictions on the state's buy here, pay here dealers is officially off the legislative agenda following a massive effort by the National Independent Automobile Dealers Association (NIADA) to educate lawmakers about the bill and its harmful effects on business and consumers.
The Oregon Senate Business and Transportation Committee declined to include Senate Bill 276 on its list of items to be considered for the current session late Friday, effectively killing the bill.
The bill would have completely rewritten the rules for dealers who provide financing for credit-challenged customers with a long list of requirements for BHPH dealers — including restrictions on interest rates, repossessions, licenses and GPS or starter-interrupt payment assurance devices — that NIADA regulatory counsel Shaun Petersen called "wholly unworkable for the industry."
NIADA, the Oregon IADA and the new NIADA Buy Here-Pay Here Commission, along with Oregon industry advocate Shawn Miller, were able to mobilize BHPH dealers in Oregon and nationwide to explain to the Oregon legislature and the state's Department of Consumer and Business Services how the buy here, pay here industry works and how dealers provide customers who are unable to get conventional financing with much-needed transportation. The legislature and DCBS decided not to pursue the bill.
"We are pleased that the Oregon legislature and DCBS have decided not to pursue this bill," NIADA Executive Vice President Steve Jordan said. "We are grateful to those who responded to NIADA's call to action to oppose this damaging bill. Rest assured that NIADA and its state affiliate network will be vigilant in monitoring and responding to legislative and regulatory actions that adversely impact the used car dealer."
Originally posted on F&I and Showroom