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Current as of January 01, 2025 | Updated by Findlaw Staff
It is unlawful for any manufacturer or wholesale distributor of motor vehicles to sell or contract for the sale of motor vehicles to any motor vehicle dealer on the condition, or with the agreement or understanding, expressed or implied, that such dealer shall in any manner finance the purchase or sale of any one or number of motor vehicles only through a designated finance company or shall sell and assign the conditional sales contracts or chattel mortgages or other paper arising from the sale of motor vehicles or any one or number thereof only to a designated finance company, when the effect of the condition, agreement or understanding so entered into may be to lessen or eliminate competition, or create or tend to create a monopoly in the finance company who is designated, by virtue of such condition, agreement or understanding to finance the purchase or sale of motor vehicles, or to purchase such conditional sales contract, chattel mortgages or other paper, and any such condition, agreement, or understanding is declared to be void and against the public policy of this state.
Cite this article: FindLaw.com - Florida Statutes Title XXXIII. Regulation of Trade, Commerce, Investments, and Solicitations § 545.02. Contracts designating finance company through which sale of motor vehicle to be financed declared void - last updated January 01, 2025 | https://codes.findlaw.com/fl/title-xxxiii-regulation-of-trade-commerce-investments-and-solicitations/fl-st-sect-545-02/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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