Used Car Safety Recall Repair Act

This bill prohibits auto dealers from selling, leasing, or loaning used motor vehicles with unremedied safety recalls to consumers. It adds a definition for 'used motor vehicle' and creates new requirements for dealer reimbursement and a ban on transactions involving vehicles with open recalls.

Sec. 2, Used motor vehicle consumer protection: This section adds a definition for 'used motor vehicle' as one previously purchased other than for resale. It requires manufacturers to reimburse dealers who possess a used vehicle with an unavailable remedy at a rate of at least 1% of fair market value per month, starting 60 days after a required notification, until a remedy is available or payments equal the vehicle's value. It also prohibits dealers (those selling at least 5 vehicles per year) from selling, leasing, or loaning a used vehicle until any defect or noncompliance requiring notification is remedied, with exceptions for unavailable recall information, stayed enforcement orders, wholesale sales, or junk automobiles reported to the National Motor Vehicle Title Information System.

Sec. 3, Effective date: This Act takes effect 1 year after enactment.