Chapter 348 motor vehicle installment sales 2025

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Contract Conditioned on Subsequent Assignment Prohibited. (a) A retail installment contract may not be conditioned on the subsequent assignment of the contract to a holder. (b) A provision in violation of this section is void.
A money judgment of a court of this state on a contract that provides for interest or time price differential earns postjudgment interest at a rate equal to the lesser of: (1) the rate specified in the contract, which may be a variable rate; or (2) 18 percent a year. Amended by Acts 1999, 76th Leg., ch. 62, Sec.
A retail installment sale is a transaction between you and a dealer to purchase a vehicle where, you agree to pay the dealer over time, paying both the value of the vehicle plus interest. A dealer can sell the retail installment contract to a lender or other party.
Unlike credit sales, which generally involve a short repayment window, installment sales can span several years. Additionally, installment agreements often come with structured payment plans that include interest, allowing sellers to earn a return on their investment over time.
Section 305.001 - Liability for Usurious Interest (a) A creditor who contracts for, charges, or receives interest that is greater than the amount authorized by this subtitle in connection with a transaction for personal, family, or household use is liable to the obligor for an amount that is equal to the greater of: (1
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Section 59.006 - Discovery of Customer Records (a) This section provides the exclusive method for compelled discovery of a record of a financial institution relating to one or more customers but does not create a right of privacy in a record.
Under Texas Finance Code, 348.006(e), before a retail seller charges a documentary fee greater than $225, the seller must provide the OCCC with a written notification of the maximum amount of the documentary fee the seller intends to charge. The OCCC may review the amount of the documentary fee for reasonableness.

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