Vehicles: liens.

Existing law provides one lien sale procedure for vehicles that have been determined to have a value that does not exceed $4,000 and a different lien sale procedure for vehicles that have been determined to have a value exceeding $4,000. Existing law requires a lienholder to apply to the Department of Motor Vehicles for the issuance of an authorization to conduct a lien sale, upon an application that is to be executed under penalty of perjury. This bill would increase the above-described vehicle value threshold from $4,000 to $7,000. Commencing January 1, 2030, and triennially thereafter, the bill would require the Director of Motor Vehicles to adjust that value to reflect changes in inflation, as specified.