Bill                                  Bolton                             Governor        
Car Sales

Improve Car Sales Procedures [05/27]

Needed: When buying a car, a third party loan company cannot provide more of a loan than what the wholesale, off-the-lot, one-year-after value for what the car would sell.  However, the seller can provide a second, nontransferable loan to the buyer.  This makes the seller have a vested interest in the loan instead of passing the vested interest off to the courts and government. [05/27]