Motor Vehicles Sales Finance Act - 69 P.S. 601 et seq.

07/11/03
Tent Sales

The Department's letter requires that certain conditions be met in situations where an installment seller licensed under the Motor Vehicles Sales Finance Act takes a number of vehicles to an off-premise location for a limited time and conducts sales and financing operations known as "tent sales."  The Department will not object to a licensed installment seller originating installment sales contracts at tent sale operations as long as these conditions are met.


Section 601 - Short Title

10/25/99
Internet e-commerce Site to Facilitate the Purchase of a Motor Vehicle
The Department's position is that a company is not required to be licensed pursuant to the CDCA in order to extend consumer loans to Pennsylvania residents who request financing from an Internet e-commerce site to facilitate the purchase of a motor vehicle.

08/09/95
Financing Motor Vehicle Purchases with a Credit Card Pursuant to Bank Simplification Act
This regarding the use of credit cards to finance motor vehicle purchases in Pennsylvania.

04/04/94
Boat, Boat Motor, Boat Accessories

Letter addresses licensing requirements related to the sale of boats, boat motors, boat accessories and boat trailers.


Section 603 - Definitions

07/10/13
Intermediary Financing Placement Activities on Behalf of Licensed Installment Sellers
A company engaged in business of seeking financing sources on behalf of licensed installment sellers is required to be licensed as a sales finance company.

11/17/06
Licensing Issues

The letter states that 100% markup limitation contained in Section 10.A.14 of the MVSFA applies to tire and wheel protection and maintenance agreement products but not etch products; letter also addresses general compliance issues such as internet sales and itemization of fees.

02/28/01
An Installment Seller is Required to be Licensed

It is the Department's position that a Company is engaged in the business of an installment seller and therefore is required to be licensed as an installment seller under the Motor Vehicle Sales Finance Act when it originates installment sales of RV's in Pennsylvania at any time, regardless of whether the Company engages in such activity only at RV shows and only on an occasional basis.

07/14/98
Collection of Deficiency Judgments
Letter addresses collection of deficiency judgments arising from motor vehicle sales contracts.

06/26/97
Installment Sale of a Boat Trailer

An installment sale of a boat trailer is subject to the provisions of the Motor Vehicle Sales Finance Act and is specifically excluded from the provisions of the Goods and Services Installment Sales Act.

04/04/94
Boat, Boat Motor, Boat Accessories

Letter addresses licensing requirements related to the sale of boats, boat motors, boat accessories and boat trailers.

02/25/92
Financing Tractors and Agricultural Machinery
Companies that finance tractors and agricultural machinery that would only incidentally be operated on a highway are not subject to the licensing and other requirements of the Motor Vehicle Sales Finance Act.

Section 603.1 - Motor vehicle

02/28/01
An Installment Seller is Required to be Licensed

It is the Department's position that a Company is engaged in the business of an installment seller and therefore is required to be licensed as an installment seller under the Motor Vehicle Sales Finance Act when it originates installment sales of RV's in Pennsylvania at any time, regardless of whether the Company engages in such activity only at RV shows and only on an occasional basis.

07/09/97
Mobile Homes Not Self-propelled

Mobile homes that are not self-propelled constitute motor vehicles for the purposes of the Motor Vehicle Sales Finance Act.  An individual who sells mobile homes on an installment basis is an installment seller and must be licensed under the MVSFA.


Section 603.4 - Installment Seller

02/28/01
An Installment Seller is Required to be Licensed

It is the Department's position that a Company is engaged in the business of an installment seller and therefore is required to be licensed as an installment seller under the Motor Vehicle Sales Finance Act when it originates installment sales of RV's in Pennsylvania at any time, regardless of whether the Company engages in such activity only at RV shows and only on an occasional basis.

05/09/01
Motor Vehicle Lease
Letter explains the Department's position on the issue of true leases as compared to leases subject to the MVSFA.

07/09/97
Mobile Homes not Self-propelled

Mobile homes that are not self-propelled constitute motor vehicles for the purposes of the Motor Vehicle Sales Finance Act.  An inPidual who sells mobile homes on an installment basis is an installment seller and must be licensed under the MVSFA.


Section 603.10 - Installment Sale Contract

07/09/97
Mobile Homes not Self-propelled

Mobile homes that are not self-propelled constitute motor vehicles for the purposes of the Motor Vehicle Sales Finance Act.  An inPidual who sells mobile homes on an installment basis is an installment seller and must be licensed under the MVSFA.


Section 603.21 - Mobile Homes

07/09/97
Mobile Homes not Self-Propelled
Mobile homes that are not self-propelled constitute motor vehicles for the purposes of the Motor Vehicle Sales Finance Act.  An inPidual who sells mobile homes on an installment basis is an installment seller and must be licensed under the MVSFA.


Section 604 - Licenses Required

07/10/13
Intermediary Financing Placement Activities on Behalf of Licensed Installment Sellers
A company engaged in business of seeking financing sources on behalf of licensed installment sellers is required to be licensed as a sales finance company.

02/28/01
An Installment Seller is Required to be Licensed
It is the Department's position that a Company is engaged in the business of an installment seller and therefore is required to be licensed as an installment seller under the Motor Vehicle Sales Finance Act when it originates installment sales of RV's in Pennsylvania at any time, regardless of whether the Company engages in such activity only at RV shows and only on an occasional basis.

07/14/98
Collection of Deficiency Judgments

Letter addresses collection of deficiency judgments arising from motor vehicle sales contracts.

06/26/97
Installment Sale of a Boat Trailer
An installment sale of a boat trailer is subject to the provisions of the Motor Vehicle Sales Finance Act and is specifically excluded from the provisions of the Goods and Services Installment Sales Act.

02/25/92
Companies that Finance Tractors and Agricultural Machinery

Companies that finance tractors and agricultural machinery that would only incidentally be operated on a highway are not subject to the licensing and other requirements of the Motor Vehicle Sales Finance Act.


Section 605 - Applications for Licenses

06/26/97
Installment Sale of a Boat Trailer

An installment sale of a boat trailer is subject to the provisions of the Motor Vehicle Sales Finance Act and is specifically excluded from the provisions of the Goods and Services Installment Sales Act.


Section 610 - Revocation or suspension of licenses

11/17/06
Licensing Issues
The letter states that 100% markup limitation contained in Section 10.A.14 of the MVSFA applies to tire and wheel protection and maintenance agreement products but not etch products; letter also addresses general compliance issues such as internet sales and itemization of fees.


Section 612 - Records Required

06/26/97
Installment Sale of a Boat Trailer

An installment sale of a boat trailer is subject to the provisions of the Motor Vehicle Sales Finance Act and is specifically excluded from the provisions of the Goods and Services Installment Sales Act.


Section 613 - Requirements as to Contracts

04/26/04
Section 13.G of the MVSFA

Letter states that if an installment sale will not include any incidental products purchased by the buyer, a seller is not required to provide the buyer with the disclosures required by Section 13.G of the MVSFA.

03/19/04
Selective first payment due date options and deferred first payment options

This letter addresses terms and conditions of "selective first payment due date" options and "deferred first payment" options that may be offered to buyers as part of installment sale contracts under the MVSFA.


Section 614 - Contents of Contract

11/17/06
Licensing Issues
The letter states that 100% markup limitation contained in Section 10.A.14 of the MVSFA applies to tire and wheel protection and maintenance agreement products but not etch products; letter also addresses general compliance issues such as internet sales and itemization of fees.

01/28/99
Disclosure of Negative Equity in Installment Sale Contracts

This letter responds to your request for guidance regarding the proper method of disclosing negative equity on trade-in vehicles in installment sale contracts under the Motor Vehicle Sales Finance Act.


Section 616 - Transfer of installment sale contract

07/14/98
Collection of Deficiency Judgments

Letter addresses collection of deficiency judgments arising from motor vehicle sales contracts.


Section 618 - Other costs included in amount financed

01/28/99
Disclosure of Negative Equity in Installment Sale Contracts

This letter responds to your request for guidance regarding the proper method of disclosing negative equity on trade-in vehicles in installment sale contracts under the Motor Vehicle Sales Finance Act.


Section 623 - Repossession

6/09/03
Collection of Attorney's Fees Pursuant to the Motor Vehicle Sales Finance Act
Letter addresses permissibility of attorney's fees in non-legal-process repossessions under MVSFA.


Section 624 - Reinstatement of contract after repossession

07/14/98
Collection of Attorney's Fees Pursuant to the Motor Vehicle Sales Finance Act
Letter addresses permissibility of attorney's fees in non-legal-process repossessions under MVSFA.

07/14/98
Collection of Deficiency Judgments

Letter addresses collection of deficiency judgments arising from motor vehicle sales contracts.