Research
Buy here pay here rules by state: licenses, rate limits, late fees and notices
A state-by-state summary of what a dealer who finances its own used cars needs to check: licensing, rate and late fee limits, right to cure, and repossession notices, with how sure each entry is.
Last checked November 14, 2026
When a dealer finances its own cars, the dealership becomes a lender, and each state has its own rules for lenders on car sales. This page summarizes what was found for each state and how sure the research was. Many state statute sites are hard to read automatically, so entries marked low or medium need to be checked against the statute or with your state regulator before you rely on them.
This is research to point you in the right direction. It is not legal advice, rules change, and a blank means we could not confirm the answer, not that no rule exists.
Federal rules that apply in every state
- Truth in Lending Act / Regulation Z (closed-end credit): Every BHPH deal needs a compliant TILA box with an accurate APR; ads with trigger terms (down payment, payment amount, term) need full disclosures. Keep records 2 years. (15 U.S.C. 1601 et seq.; 12 CFR 1026.2(a)(17), 1026.17, 1026.18, 1026.24 (advertising), 1026.25 (2-year records))
- FTC Holder Rule (Preservation of Consumer Claims and Defenses): Print the exact FTC notice in bold (10-point or larger) on every retail installment contract you hold. Omitting it is an unfair practice under the FTC Act. (16 CFR 433.2)
- FTC Used Car Rule (Buyers Guide): Post a current Buyers Guide on every used unit, mark As-Is or Warranty correctly, and attach a copy to the deal jacket. State implied-warranty disclaimer laws can limit As-Is. The 2024 CARS Rule was vacated in 2025. (16 CFR Part 455)
- ECOA / Regulation B (credit decisions and adverse action): Use consistent underwriting for all applicants, send written adverse action notices (with the ECOA anti-discrimination statement) for declines and counteroffers, and keep applications 25 months. (15 U.S.C. 1691 et seq.; 12 CFR 1002.4, 1002.5, 1002.9, 1002.12 (25-month records))
- FCRA / Regulation V (credit reports, risk-based pricing, furnishing): Give the risk-based pricing or credit score notice when terms are worse than offered to others. If you report to bureaus, send the negative info notice, report accurately, and investigate disputes. (15 U.S.C. 1681m(a), 1681m(h), 1681s-2; 12 CFR 1022.42-.43, 1022.70-.75, Appendix B (negative info notice); 16 CFR 681, 682)
- Servicemembers Civil Relief Act (SCRA): Check DMDC SCRA status before repossession or suit on any account. Honor 6% cap requests from servicemembers who bought before entering active duty. Violations carry damages and fees. (50 U.S.C. 3937 (6% cap), 3952 (installment contracts / repossession), 3931 (default judgments))
- GLBA Privacy Rule and FTC Safeguards Rule: Hand customers a privacy notice at signing, name a Qualified Individual, keep a written security plan, encrypt and limit access to customer data, and notify the FTC of qualifying breaches within 30 days. (15 U.S.C. 6801-6809; 16 CFR Part 313 (privacy, dealers); 16 CFR Part 314 (Safeguards, incl. FTC notice of 500+ consumer breach))
- Telephone Consumer Protection Act (calls and texts): Get written consent to call or text the customer's cell in the contract, honor opt-outs (STOP) promptly, call only 8am-9pm local time, and keep consent records. Damages run $500-$1,500 per call. (47 U.S.C. 227; 47 CFR 64.1200)
- UCC Article 9 (repossession and disposition): Never breach the peace; use the state-compliant notice of sale; sell commercially reasonably (dealer auction is common); send the deficiency explanation. Defects can forfeit the deficiency and cost statutory damages. (UCC 9-609, 9-610, 9-611, 9-613/9-614, 9-615, 9-616, 9-623, 9-625 (state codes 9A or 9))
- FTC Credit Practices Rule: Strip prohibited clauses from your contract form, give the cosigner notice if there is a cosigner, and never charge a late fee on a payment that was timely except for a prior late fee. (16 CFR Part 444)
- Military Lending Act (limited effect on vehicle purchase credit): A plain purchase-money BHPH contract is exempt from MLA, but keep unrelated cash or non-vehicle items out of the financed amount or MLA limits and disclosures may apply. (10 U.S.C. 987; 32 CFR 232.3(f)(2))
State by state
| State | License | Rate limit | Late fee | Right to cure before repossession | How sure |
|---|---|---|---|---|---|
| Alabama | Not confirmed. Mini-Code (Ala. Code 5-19) governs consumer credit; I could not confirm whether a seller holding its own paper nee… | Not confirmed. Ala. Code 5-19-3 sets finance charge limits; text not retrievable (403/PDF). Do not assume a cap. | 5-19-4 governs default charges; figures unconfirmed. A 2011 bill (HB3) proposed 10-day late charge tied to 5-18-15.1; enactment u… | Not confirmed | low |
| Alaska | No license found in AS 45.10 (Retail Installment Sales Act) for sellers holding own contracts; not confirmed from agency source. | AS 45.10.120: service charge is the rate the buyer and seller agree on; no numeric cap found. | AS 45.10.080: delinquency/collection charges allowed only if the contract authorizes them; no dollar or percent cap found. | Not confirmed | medium |
| Arizona | Sales finance license from AZ Dept of Insurance and Financial Institutions (A.R.S. Title 44 ch 2.1). Contract must say seller is… | No cap for ordinary retail installment found. 44-291 caps apply to secondary motor vehicle finance (title loans), monthly 10-17%;… | 44-291: late charge on installment unpaid by 10th day, up to 5% of unpaid installment. Applies at least to secondary motor vehicl… | Not confirmed | low |
| Arkansas | Used motor vehicle dealer license (Arkansas State Police UMVD, $250/yr). No separate sales finance license confirmed for holding… | 17%. Arkansas Constitution Art. 19 s.13 general 17% usury cap (secondary source: Mercatus). Applicability to time-… | Not confirmed. | Not confirmed | low |
| California | Rees-Levering (Civ. Code 2981+) licenses no installment seller; DMV dealer license needed. Finance Lenders Law exemption for sell… | Civ. Code 2982(j): finance charge cap by tiered formula (about 1.5% first $225, 1 1/6% to $900, 5/6% to $2,500 monthly, or 1% of… | Civ. Code 2982(k): up to 5% of the delinquent installment once per installment after 10 days in default; returned check fee max $… | Not confirmed | medium |
| Colorado | No sales finance license for sellers; retail sellers extending credit file a notification with AG Consumer Credit Unit (UCCC). No… | C.R.S. 5-2-201(2): greater of tiered 36% to $1,000 / 21% to $3,000 / 15% above, or 21% on unpaid balances of amount financed. Act… | C.R.S. 5-2-203: $15 flat (precomputed: greater of $15 or deferral charge), payment unpaid 10 days; assess within 30 days; once pe… | 20 days | medium |
| Connecticut | Sales finance company license (Dept of Banking, via NMLS) under CGS 36a-535 to 36a-546 for those acquiring retail installment con… | Not confirmed. | Not confirmed. | Not confirmed | low |
| Delaware | Yes: sales finance company license, DE State Bank Commissioner (5 Del. C. 2902); 2901(9) includes a retail seller that creates an… | 5 Del. C. 2908: finance charge at the rate specified in the contract; no used-vehicle numeric cap in chapter 29 text. | 2907(h): lesser of 5% of installment or $15 on installment in default 10+ days; attorney fees max 15% of amount due plus court co… | Not confirmed | high |
| District of Columbia | DC Code 50-601 et seq. (Act 4-90) requires licenses for dealers and sales finance companies; issuing agency and own-paper exempti… | 28.33%. DC Code 50-602 max APR by class: new 21.5; used up to 2 yrs 23.5; used up to 4 yrs 27; older used 28.33. Grea… | Not confirmed. | Not confirmed | medium |
| Florida | Ch. 520 pt I licenses sales finance companies (OFR, $175, up to 2 yrs). No dealer-own-paper exemption in 520.03 text; dealers not… | 17%. 520.08 per $100/yr: new $10; used up to 2 yrs old $11; up to 4 yrs $15; older than 4 yrs $17. Simple-interest… | 520.07: delinquency charge up to 5% of installment, installment in default 10+ days, if contract provides; outside-attorney fees… | Not confirmed | medium |
| Georgia | Motor Vehicle Sales Finance Act (OCGA 10-1-30 et seq.) text read shows no license; dealer licensing is OCGA Title 43 ch 47 (used… | 17%. OCGA 10-1-33 per $100/yr: new $10; used up to 2 yrs $13; up to 4 yrs $15; older $17. If amount financed over… | OCGA 10-1-32 (as read): lesser of 5% of installment or $50, installment unpaid 10 days; once per default; heavy-truck business us… | Not confirmed | medium |
| Hawaii | No licensing provision in HRS ch. 476 (credit sales) table of contents; financial services loan company licensing is a different… | 24%. HRS 476 finance charge section (476-28 per page read): up to 24%/yr on unpaid principal, or dollar charge cap… | HRS 476-9: lesser of $50 or 5% of delinquent installment, 10+ days late; once per installment; written notice before next due dat… | Not confirmed | medium |
| Idaho | No sales finance or seller license found in Idaho Credit Code (Title 28 ch 41-46); not confirmed from agency source. | Not confirmed. Idaho Credit Code 28-42 text could not be read (PDF/403). | 28-42-301 (per search snippet): greater of 5% of installment or $15 if unpaid 15 days after due; once per installment. A 2002 bil… | Not confirmed | low |
| Illinois | Not confirmed. Motor Vehicle Retail Installment Sales Act (815 ILCS 375) text read shows no seller license; DFPR sales finance li… | 36%. 815 ILCS 375/21 (secondary compilation): finance charge no more than max rate under Predatory Loan Prevention… | Not confirmed. | Not confirmed | low |
| Indiana | No sales finance license for own paper; dealer ('Registrant') files Notice of Intent with Dept of Financial Institutions under IU… | 25%. IC 24-4.5-2-201(2): greater of 25%/yr or tiers 36% to $2,000, 21% to $4,000, 15% above. Simple interest only… | IC 24-4.5-2-203.5: flat $5 if installments due every 14 days or less, $25 if every 15+ days (monthly). One fee per installment. N… | Not confirmed | medium |
| Iowa | No license for dealer holding own paper. Creditors file annual notification (by Jan 31; within 30 days of starting) with the admi… | 27%. Iowa Code 322.19 simple interest on declining balance: Class 2 (used within 2 model yrs) 2%/mo = 24%; Class 3… | 537.2502: 5% of unpaid installment, max $30 (precomputed alt: deferral charge). Collected once per installment. | 20 days | high |
| Kansas | No license for dealer holding own paper. Must file notification with Office of the State Bank Commissioner within 30 days of star… | K.S.A. 16a-2-201: closed-end consumer credit sale finance charge at any rate agreed by parties; no numeric cap. Prepaid finance c… | 16a-2-502: 5% of unpaid installment or $25, whichever is less; alt flat $10 ($5 if payment $25 or less). After 10 calendar days;… | 20 days | high |
| Kentucky | Dealer license from KY Motor Vehicle Commission (KRS 190.030). No separate sales finance license found for dealer holding own con… | KRS 190.110 precomputed add-on per $100 per yr: Class 1 $11, Class 2 (1-2 yrs old) $13, Class 3 (older used) $15. Simple interest… | KRS 190.100(1)(d): greater of 5% of installment or $15; grace 10 days (installments 28+ days), 3 days for shorter periods. Same t… | Not confirmed | medium |
| Louisiana | Louisiana Motor Vehicle Commission license under MVSF Act (R.S. 6:969.35) unless dealer retains no more than 12 contracts at one… | 33%. R.S. 6:969.10 per annum: used Class 2 (within 2 model yrs) 24%; Class 3 (3-4 yrs) 27%; Class 4 (older than 4… | R.S. 6:969.15: greater of 5% of installment or $10, after 10 days; or deferral charge. One charge per installment. | Not confirmed | high |
| Maine | No license; creditor must file notification with Bureau of Consumer Credit Protection before starting and annually by Jan 31, plu… | 18%. 9-A MRS 2-201 actuarial: greater of 18%/yr flat or 30% on first $1,000, 21% to $2,800, 15% above. Typical $5-… | 9-A 2-502: 5% of unpaid installment, not over $10, or deferral charge if greater; after 15 days; collected once. | 14 days | high |
| Maryland | No credit license for dealer holding own contracts per OFR (retail installment sellers exempt; sales finance license only for pur… | 27%. CL 12-609 simple interest: new 16.5%; used up to 2 model yrs old 22%; used older than 2 yrs 27%. No other ser… | CL 12-623: lesser of $10 or 5% of payment in default, after 10 days; applies where finance charge computed in advance. Attorney f… | Not confirmed | high |
| Massachusetts | Yes. Division of Banks says non-bank lenders including Buy Here Pay Here dealers must be licensed (motor vehicle sales finance li… | 21%. Division of Banks consumer page: maximum APR under Massachusetts law may not exceed 21% on motor vehicle sale… | DOB cites c. 255B s.11: lesser of $5 or 5% of late payment; must be stated in contract. Grace period not confirmed. | 21 days | medium |
| Michigan | Yes. Installment seller of motor vehicles must be licensed by DIFS under the Motor Vehicle Sales Finance Act (MCL 492.103) unless… | 25%. MCL 492.118 ties finance charge to Credit Reform Act MCL 445.1854: 25% per annum max. Precomputed allowed wit… | MCL 492.120: default charge on late installments may not exceed the Credit Reform Act rate (25%/yr) on the amount in arrears; no… | Not confirmed | high |
| Minnesota | Sales finance company license (Commerce Dept, Minn. Stat. 53C.02) applies to those buying contracts; retail seller holding its ow… | 23.25%. Minn. Stat. 53C.09 simple interest: Class 1 (current or prior model year) 18%; Class 2 (2-3 yrs old) 19.75%;… | 53C.08(1)(c) precomputed contracts: greater of 5% of installment or $5, after 10 days in arrears. Attorney fees up to 15% if refe… | Not confirmed | high |
| Mississippi | DBCF license (MV Sales Finance Law, 63-19-7) needed only if the dealer's held contracts exceed $500,000 outstanding (63-19-3(k));… | 28.75%. Miss. Code 63-19-43, actuarial per annum: Class 2 (used within 2 yrs) 21%; Class 3 (3-4 yrs) 26.75%; Class 4… | 63-19-35: lesser of 5% or $5 per installment in default 10+ days. Attorney fees up to 15% of balance if referred after accelerati… | Not confirmed | medium |
| Missouri | No license for dealer holding own paper. Sales finance company license (Division of Finance, RSMo 365.030) is for those purchasin… | RSMo 365.120: seller may charge any time price differential agreed, stated as percent per annum on principal balance, any model y… | RSMo 365.100: lesser of 5% of installment or $25 after 15 days (min $10; $5 max if installment $25 or less). Interest on delinque… | 20 days | high |
| Montana | No license for dealer holding own contracts; sales finance company license (MCA 31-1-221) is for those purchasing retail installm… | 36%. MCA 31-1-241: rate agreed by seller and buyer, not to exceed 36% per annum on retail installment contracts. N… | MCA 31-1-235: up to $10 per installment in default 10+ days, or alternative fixed fee expressed as up to 15% rate; plus contract-… | Not confirmed | medium |
| Nebraska | No license for a seller that is not a sales finance company; seller must still comply with Installment Sales Act to charge time-p… | 18%. Neb. Rev. Stat. 45-338: time-price differential stated as annual rate agreed in writing, not over 18% per ann… | 45-341: lesser of 5% of installment or $25, if installment late 15+ days and in contract; or interest after maturity. NSF fee up… | Not confirmed | medium |
| Nevada | No sales finance or installment seller license found for dealer holding own retail installment contracts (NRS ch. 97 has none); d… | NRS 97.195: finance charge and any other fee or charge may be any amount agreed by the parties. No numeric cap in ch. 97. | No statutory cap or grace in NRS ch. 97; fees limited only by agreement (97.195). Violations bar recovery of finance, delinquency… | Not confirmed | medium |
| New Hampshire | Yes. Retail seller license (RSA 361-A:2, Banking Dept). Seller keeping contracts beyond 4 per 12 months or not assigning within 5… | No numeric cap: rate as agreed, daily simple interest on principal balance (RSA 361-A:17, VI). | Max 5% of installment in default, one per installment, 10 days in default (361-A:15, VII). No pyramiding. | 21 days | high |
| New Jersey | Yes. Motor Vehicle Installment Seller license from NJ Dept of Banking and Insurance (N.J.S.A. 17:16C-2), on top of MVC dealer lic… | No fixed numeric cap found; rate agreed under N.J.S.A. 17:16C-41 (variable-rate increase limited to 6% over initial, 3%/yr). Coul… | 17:16C-42 per 2013 secondary text: charge capped at $10 after 10 days in default. Not confirmed against current statute. | Not confirmed | low |
| New Mexico | Sales finance company license (Motor Vehicle Sales Finance Act, NMSA 58-19-3, RLD Financial Institutions Div). A retail seller co… | No cap in the MV Sales Finance Act (58-19-8 repealed); rate as agreed. Could not confirm any separate usury limit. | Lesser of 5% of installment or $15, only on installments over 10 days late (58-19-7). Attorney fees up to 15% if referred to outs… | Not confirmed | medium |
| New York | No separate license found for a dealer holding its own paper under PPL Art. 9 (MVRISA). Licensed sales finance company status (Ba… | PPL 303: charge at rate agreed, computed as if equal monthly installments over 1 year, or variable actuarial rate. No numeric cap… | PPL 302(7): charge on installment 10+ days late, not above rate stated in contract; no fixed dollar/percent in statute. Attorney… | Not confirmed | medium |
| North Carolina | No dealer sales-finance license found for holding own paper (Ch. 25A has no licensing). Dealer license from NC DMV applies. Licen… | 30%. G.S. 25A-15(c): higher of general rate (24% under $3,000; 21% over) or by age: 20% for 1-3 model years, 26% f… | G.S. 25A-29: $18 once per default if installment 10+ days past due; waived unless collected or noticed within 45 days. | Not confirmed | medium |
| North Dakota | No license in Ch. 51-13 (Retail Installment Sales Act). Seller complying with disclosure provisions is deemed a regulated lender… | 51-13-03 sets no numeric cap; charge computed on principal balance, all-inclusive. Ch. 51-13 does not apply if cash price exceeds… | 51-13-02(2)(e): lesser of 10% of installment or $10 if more than 10 days in default; once per installment. | Not confirmed | high |
| Ohio | No sales finance license for a seller under ORC 1317 (RISA) found. Ohio BMV dealer license applies. Not confirmed from licensing… | 25%. ORC 1317.061: parties may agree to up to 25% APR. Alternative 1317.06: precomputed charge up to 1.5%/month on… | 1317.06(B): 5% of installment late over 10 days, max $3 per installment. 1317.062 allows an agreed delinquent charge if clearly s… | 20 days | medium |
| Oklahoma | Notification (not license) with Administrator, Dept of Consumer Credit, within 30 days of starting and each Jan 31 (UCCC 14A-6-20… | 21%. 14A-2-201: greater of tiered 30/21/15% on balance brackets (adjusted by Administrator) or 21% flat; actuarial… | 14A-2-203: greater of 5% of unpaid installment or dollar amount ($5 base, $19 in 2003 rules, indexed since; current figure not co… | Not confirmed | medium |
| Oregon | No sales finance license found for a dealer holding its own retail installment contract (ORS 83). Oregon DMV dealer certificate r… | ORS 83.560: finance charge as agreed by dealer and buyer; actuarial method allowed (83.565). No numeric cap found in ch. 83. | ORS 83.590: up to 5% of delinquent installment if default lasts 10+ days, if in contract; reasonable collection costs allowed. | Not confirmed | medium |
| Pennsylvania | Yes. Installment seller license from Dept of Banking and Securities (12 Pa.C.S. 6211), renews Oct 1; sales finance companies need… | 21%. 6243(e): used vehicle up to 2 model years old 18% simple interest; older than 2 years 21% simple interest on… | 6245: max 2% of payment in arrears if not paid within 10 days (4% heavy commercial); once per payment; none on accelerated amount… | Not confirmed | high |
| Rhode Island | No separate sales finance license found for a dealer holding own paper. Dealer license via RI DMV (Ch. 31-5). Dealers count as cr… | 18%. RIGL 6-27-4(a): 18% simple interest per annum; not applied to finance charges of $10 or less; financial insti… | No late fee cap found for closed-end auto contracts (12 dollar cap in 6-27-4(e) is revolving only). | 21 days | medium |
| South Carolina | Notification with Dept of Consumer Affairs within 30 days and each Jan 31, $120 per location (37-6-201 to 203); exempt if annual… | 37-2-201: greater of the rate schedule filed and posted with the Dept (37-2-305) or 18% on unpaid balances. Filed schedule can ex… | 37-2-203: up to $5 (indexed under 37-1-109) not above 5% of unpaid installment; minimum up to 40% of $5 allowed; once per install… | 20 days | high |
| South Dakota | No license in ch. 54-3A (Consumer Installment Sales Contracts) for a seller holding own contract. SD dealer license applies. Mone… | 54-3A-3: finance charge at rate agreed in writing, no cap. HB 1090 reportedly excludes installment sales from the 36% lender cap… | 54-3A-12: greater of 5% of installment or $5 if 10+ days in arrears; once per installment. Returned payment fee up to $30. | 30 days | medium |
| Tennessee | No separate sales finance license confirmed for a dealer holding its own paper; TN Motor Vehicle Commission dealer license (T.C.A… | Time-price differential is limited by the Retail Installment Sales Act (T.C.A. 47-11-101 to -111), not the general usury cap. Exa… | No numeric vehicle RISC cap confirmed; charge must be in the contract and reasonable (T.C.A. 47-14-113(d) standard). | Not confirmed | low |
| Texas | Yes. OCCC Motor Vehicle Sales Finance License required to act as holder of a retail installment contract (Fin. Code 348.501), plu… | Add-on cap per $100/yr: $10 (used up to 2 model yrs old), $12.50 (3-4 yrs), $15 (older) (348.104); alt. 18% (348.105). $15 add-on… | Delinquency charge up to 5% of installment after the 15th day past maturity, or post-maturity interest; one per installment (Fin.… | Not confirmed | medium |
| Utah | No finance license found for a seller holding its own contract; Utah Motor Vehicle Enforcement Division dealer license (Title 41,… | 70C-2-101: parties may contract for any finance charge and fees unless the Title restricts it; no used-vehicle cap found. | Greater of $30 or 5% of the delinquent installment, once per installment; none if deferred with charge paid (70C-2-102). No grace… | Not confirmed | medium |
| Vermont | Dealer license via Vermont DMV. DFR sales finance license (8 V.S.A. ch. 73) applies to those acquiring contracts; a dealer holdin… | 20%. 9 V.S.A. 2356a incorporates 41a(b)(4): 18% APR for vehicles of current or previous model year, 20% APR for ol… | No late-fee cap found in ch. 59; contract must give notice of effect of early or late payment (9 V.S.A. 2355(f)(1)(H)). | Not confirmed | medium |
| Virginia | No sales finance or lender license for a seller of goods extending closed-end installment credit (Va. Code 6.2-311). MVDB motor v… | 6.2-311(A): seller may impose finance charges at the rate agreed by seller and purchaser; no numeric cap found. | Up to 5% of installment if stated in contract; payment within 7 calendar days of due date counts as timely (6.2-400). | Not confirmed | medium |
| Washington | No sales finance license found for a dealer holding its own contract; WA DOL vehicle dealer license (RCW 46.70) required. Ch. 63.… | RCW 63.14.130: service charge may not exceed the dollar amount or rate agreed in the contract and disclosed. No numeric vehicle c… | RCW 63.14.090: delinquency or collection charges only if in contract and must be reasonable; attorney fees only if referred to ou… | Not confirmed | medium |
| West Virginia | No sales finance license found for a seller holding its own paper (WV Consumer Credit and Protection Act art. 3); WV DMV dealer l… | 18%. 46A-3-101(1): 18% per year on unpaid balance up to $1,500 and 12% on the part above $1,500, actuarial method… | 5% of unpaid installment, not to exceed $30, after 10 days; precomputed contracts may use greater of that or deferral-charge equi… | 10 days | high |
| Wisconsin | Yes. A motor vehicle dealer who sells on installment contracts or holds retail installment contracts is a sales finance company (… | No maximum finance charge for consumer credit transactions entered into after Oct. 31, 1984 (Wis. Stat. 422.201(2)(bn)). Unconsci… | Lesser of $10 or 5% of the unpaid installment after the 10th day past due; once per installment (422.203). | 15 days | high |
| Wyoming | No license found for a seller making consumer credit sales under the UCCC; Wyoming dealer license (WYDOT) required. A 2021 bill f… | 21%. 40-14-212: amount financed up to $50,000: greater of (36% on first $1,000 plus 21% above) or 21% per year, ac… | Greater of 5% of the installment or $10 after 10 days past due; once per installment (40-14-214). | Not confirmed | medium |
How to read the table
- License: whether the state licenses or registers a dealer that holds its own retail installment contracts.
- Rate limit: the highest finance charge found for used-car installment sales, if any, and how it is worked out.
- Late fee: the limit and grace period found.
- Right to cure: the days a dealer must give a buyer to catch up before taking the car back, where the state sets one.
- How sure: high means the statute text was read, medium means a reliable summary was read, low means little could be confirmed.
Common questions
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Some state statute sites could not be read automatically. We would rather show a blank than guess a number.
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