Opinion ID: 222219
Heading Depth: 3
Heading Rank: 1

Heading: California's Rees-Levering Act

Text: California's Rees-Levering Act is a broad statute enacted to protect California motor vehicle purchasers. Comment, Recent Legislation: The Rees-Levering Motor Vehicle Sales and Finance Act, 10 UCLA L.Rev. 125, 127 (1962) (The [Rees-Levering Act] is designed to provide more comprehensive protection for the unsophisticated motor vehicle consumer....). The Act contains requirements that are designed to protect a car buyer from excessive charges and requires full disclosure of all items of cost at all points in the life of a vehicle purchase transaction. The Act provides: (1) required disclosure in the conditional sale contract of cash price, fees, taxes, maximum amount of finance charges, and other dealer-added charges (Cal. Civ.Code § 2982(a)); (2) limitations on security interests that may be created by conditional sale contracts ( id. § 2984.2); (3) required disclosure of a buyer's right to prepay a vehicle purchase contract without penalty ( id. § 2982( l )); (4) requirements governing the repossession and resale of vehicles by the seller or contract holder ( id. §§ 2983.2, 2983.3); and (5) a buyer's remedies when a seller violates the Act ( id. §§ 2982.7, 2983.1, 2983.8(b)). The two provisions of the Rees-Levering Act at issue in this appeal are Section 2983.2(a), which lists the detailed information the holder of a purchase contract (the lender) must provide to the person liable on the purchase contract (the buyer) after the lender has repossessed the motor vehicle, and Section 2983.8(b), which states the lender may not collect a deficiency judgment from the buyer if the disposition of the repossessed motor vehicle did not conform with the provisions of Section 2983. Id. §§ 2983.2(a), 2983.8(b). U.S. Bank does not dispute that the notices sent to Aguayo did not fully comply with Section 2983.2.