Section 6234 – Waiver of statutory protection prohibited
§ 6234. Waiver of statutory protection prohibited. (a) General rule.–A buyer may not validly waive through an action, agreement or statement any provision of this chapter intended to protect a buyer of a motor vehicle. (b) Choice of law.–A buyer’s waiver of the provisions of this chapter, including any purported waiver effected by a contractual […]
Section 6258 – Reinstatement of contract after repossession
§ 6258. Reinstatement of contract after repossession. (a) When reinstatement may occur.–If a motor vehicle subject to an installment sale contract has been repossessed by legal process or otherwise because of default or other breach of contract, the holder may reinstate the contract and return the motor vehicle to the buyer if the buyer: (1) […]
Section 6235 – Effect of license expiration, surrender and revocation on contracts
§ 6235. Effect of license expiration, surrender and revocation on contracts. (a) Effect.–The expiration, surrender or revocation of a license issued under this chapter to an installment seller or sales finance company does not impair or affect the obligation under an installment sale contract entered into lawfully or lawfully acquired by the licensee prior to […]
Section 6259 – Redemption and termination of contract after repossession
§ 6259. Redemption and termination of contract after repossession. (a) Retaining motor vehicle.–Unless the right of redemption is waived in a nonconsumer transaction under 13 Pa.C.S. § 9624(c) (relating to waiver), if repossession of a motor vehicle subject to an installment sale contract is effected within or outside this Commonwealth other than by legal process, […]
Section 6236 – Enforcement
§ 6236. Enforcement. (a) When obligation unenforceable.–An obligation of the buyer of a motor vehicle under an installment sale contract that was consummated in this Commonwealth is not enforceable in this Commonwealth if: (1) the installment seller was not licensed under this chapter when the seller entered into the contract; or (2) the holder was […]
Section 6260 – Sale of motor vehicle after repossession
§ 6260. Sale of motor vehicle after repossession. (a) Forfeiture.–If the repossessed motor vehicle subject to an installment sale contract is not redeemed by the buyer either by termination or reinstatement of the contract within the 15-day notice of redemption period, the buyer shall forfeit all claim to the motor vehicle and collateral security. (b) […]
Section 6241 – Insurance
§ 6241. Insurance. (a) General rule.– (1) The insurance purchased under this section shall be: (i) Limited to insurance against risk of damage, destruction or theft of the motor vehicle. (ii) Written for the dual protection of the buyer and installment seller or holder to the extent of their respective interests in the motor vehicle. […]
Section 6261 – Deficiency judgment
§ 6261. Deficiency judgment. (a) General rule.–If the proceeds of a resale under section 6260 (relating to sale of motor vehicle after repossession) are not sufficient to defray the expenses regarding the repossessed motor vehicle, including the costs under section 6256 (relating to buyer’s liability for costs), the net balance due on the installment sale […]
Section 6242 – Other costs included in amount financed
§ 6242. Other costs included in amount financed. (a) Costs payable by buyer.–An installment seller of a motor vehicle under an installment sale contract may require the buyer to pay the following other costs incurred in the sale of a motor vehicle under the contract: (1) Fees payable to the Commonwealth for filing a lien […]
Section 6243 – Finance charges
§ 6243. Finance charges. (a) General rule.–An installment seller licensed under this chapter may charge, contract for, receive or collect a finance charge under this chapter on an installment sale contract covering the retail sale of a motor vehicle in this Commonwealth. (b) Method of computation.– (1) An installment seller may compute a finance charge […]