H.R.5312: To amend chapter 1 of title 9 of the United States Code with respect to arbitration of certain controversies.

Automobile Arbitration Fairness Act of 2008 - Amends federal arbitration law to require that a controversy arising out of a motor vehicle consumer sales or lease contract, including a refusal to perform all or any part of such contract, may not be settled by arbitration unless, after the controversy arises, all parties to it agree in writing to settle it by arbitration.