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What is a retail installment contract?

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.

What is a law 553 CA ARB EPS 7 16?

No person is required as a condition of financing the purchase of a motor vehicle to purchase or negotiate any insurance through a particular insurance company, agent or broker. You are not required to buy any other insurance to obtain credit.

What is 553 LAW?

The LAW 553 acts as both a sale document and a financing document. The dealer sells the vehicle to the consumer and then immediately assigns the loan to a finance company, which is usually a subsidiary of the manufacturer. This assignee financing company is the intended beneficiary of the arbitration provision.

What is LAW 553?

The LAW 553 acts as both a sale document and a financing document. The dealer sells the vehicle to the consumer and then immediately assigns the loan to a finance company, which is usually a subsidiary of the manufacturer. This assignee financing company is the intended beneficiary of the arbitration provision.

What is another name for an installment sale contract quizlet?

An installment sales contract, also known as an installment land contract or a contract for deed, allows the buyer to pay the seller for the property over time.

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