St. Paul, MN—This afternoon, the Minnesota House advanced legislation on a broad bipartisan vote of 134-0 to aid consumers and strengthen Minnesota’s salvage title statutes, making the system work better for all.
Under Rep. Youakim’s bill, dealers would be required to inform potential buyers of known past damage. It also contains modifications to salvage title and disclosure requirements agreed to by stakeholders as a result of the work of the Salvage Title Task Force to ensure proper transparency and disclosure when previously damaged vehicles are bought and sold.
“It was an honor to serve on the Salvage Title Taskforce over the legislative interim to come up with this compromise,” said Rep. Cheryl Youakim (DFL-Hopkins), author of the measure. “Minnesotans deserve fair and honest consumer protections, and I’m glad we are strengthening the statute to make this a reality for all.”
Currently, Minnesota requires vehicles to have a salvage title when an insurance company acquires a damaged vehicle after paying a total claim loss, when a vehicle’s owner is self-insured and the vehicle damage is more than 80% of its value, or a vehicle has an out-of-state salvage title.
Today’s floor debate can be viewed on the House Public Information Services’ YouTube channel.
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