A bill to require warrantors to refund or replace defective new motor vehicles, to extend new motor vehicle warranties for the period of time a consumer is deprived of the use of a new motor vehicle which does not conform to its warranty, and to provide substitute motor vehicles during periods of warranty repair which exceed 48 hours.

Defines the terms "motor vehicle" and "new motor vehicle" under the provisions of the Magnuson-Moss Warranty-Federal Trade Commission Improvement Act.

Requires warrantors of new motor vehicles to permit consumers to elect, under specified conditions, either a refund or replacement, without charge, of a new motor vehicle containing a defect or malfunction if such defect or malfunction is not remedied.

Stipulates that no lien shall prevent any consumer from making such an election under this Act.

Extends warranties under such Act for periods during which the consumer is deprived of the use of a new motor vehicle due to failure of conformity with the warranty or failure of the warrantor to carry out the warranty within the period of the warranty.

Directs the Federal Trade Commission to prescribe rules for requiring new motor vehicle warrantors to provide a substitute vehicle to any consumer during specified periods.