520.08 – Finance charge limitation.
520.08 Finance charge limitation.— (1) Notwithstanding the provisions of any other law, the finance charge, exclusive of insurance, shall not exceed the following rates: (a) Class 1. Any new motor vehicle designated by the manufacturer by a year model not earlier than the year in which the sale is made—$10 per $100 per year. (b) Class 2. Any new […]
520.085 – Simple-interest contracts.
520.085 Simple-interest contracts.— (1) A retail installment contract under The Motor Vehicle Retail Sales Finance Act may provide that the rate of finance charge be calculated on a simple-interest basis subject to the following provisions: (a) Instead of a finance charge computed on the amount financed as determined under s. 520.07(2), the seller may compute the finance charge […]
520.09 – Credit upon anticipation of payments.
520.09 Credit upon anticipation of payments.—Notwithstanding the provisions of any retail installment contract to the contrary, any buyer may pay in full at any time before maturity the debt of any retail installment contract and in so paying such debt shall receive a refund credit thereon for such anticipation of payments. The amount of such refund […]