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Florida Statutes Title XXXIII. Regulation of Trade, Commerce, Investments, and Solicitations § 545.045. Purchase or assignment of third-party financing

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) When a vehicle contract contains a third-party provider's automotive-related product that is of similar nature, scope, and quality to an automotive-related product offered for sale by an affiliated finance company or its related manufacturer or wholesale distributor, that affiliated finance company may not, solely because the vehicle contract contains a third party's automotive-related product:

(a) Refuse to purchase or accept the assignment of the vehicle contract from a dealer; or

(b) Charge a dealer an additional fee or surcharge for the purchase of, or acceptance of the assignment of, the vehicle contract.

(2) Factors in determining whether an automotive-related product is similar in nature, scope, and quality include, but are not limited to, the financial capacity of the third-party provider to meet all of its obligations, inclusive of any contractual liability insurance policies, and the third-party provider's history of compliance with any applicable state and federal regulations.

(3) A violation of this section does not constitute a criminal offense pursuant to s. 545.12.

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Cite this article: FindLaw.com - Florida Statutes Title XXXIII. Regulation of Trade, Commerce, Investments, and Solicitations § 545.045. Purchase or assignment of third-party financing - last updated January 01, 2025 | https://codes.findlaw.com/fl/title-xxxiii-regulation-of-trade-commerce-investments-and-solicitations/fl-st-sect-545-045/

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