CHAPTER 2b. Automobile Sales Finance Act

Chapter 2b added by Stats. 1961, Ch. 1626.

§§ 2981–2984.6 · 34 sections

§ 2981 As used in this chapter, unless the context otherwise requires: (a) “Conditional sale contract” means: (1) A contract for the sale of a motor vehicle between a…
§ 2981.5 A contract for the bailment or leasing of a motor vehicle, with or without accessories, which establishes the maximum for which a bailee or lessee could be…
§ 2981.7 All contracts entered into between a buyer and a seller on or after January 1, 1983, shall provide for the calculation of the finance charge contemplated by…
§ 2981.8 No contract shall provide for a finance charge which is determined in part by the precomputed basis and in part by the simple-interest basis except for any…
§ 2981.9 Every conditional sale contract subject to this chapter shall be in writing and, if printed, shall be printed in type no smaller than 6-point, and shall…
§ 2982 A conditional sale contract subject to this chapter shall contain the disclosures required by Regulation Z, whether or not Regulation Z applies to the…
§ 2982.1 It shall be unlawful for any seller to induce or attempt to induce any person to enter into a contract subject to this chapter by offering a rebate, discount,…
§ 2982.2 (a) Prior to the execution of a conditional sale contract, the seller shall provide to a buyer, and obtain the buyer’s signature on, a written disclosure that…
§ 2982.3 (a) The holder of a conditional sale contract may, upon agreement with the buyer, extend the scheduled due date or defer the scheduled payment of all or of any…
§ 2982.5 (a) This chapter may not be deemed to affect a loan, or the security therefor, between a purchaser of a motor vehicle and a supervised financial organization,…
§ 2982.7 (a) Any payment made by a buyer to a seller pending execution of a conditional sale contract shall be refunded to the buyer in the event the conditional sale…
§ 2982.8 (a) If a buyer is obligated under the terms of the conditional sale contract to maintain insurance on the vehicle and subsequent to the execution of the…
§ 2982.9 In the event a buyer obligates himself to purchase, or receive possession of, a motor vehicle pursuant to a contract or purchase order, and the seller knows…
§ 2982.10 (a) In consideration of the assignment of a conditional sale contract, the seller shall not receive or accept from the assignee any payment or credit based…
§ 2982.11 (a) Prior to the execution of a conditional sale contract that includes a charge for an electric vehicle charging station, the seller shall provide the buyer…
§ 2982.12 (a) (1) A guaranteed asset protection waiver may be offered, sold, or provided to a buyer, or administered, in connection with a conditional sale contract…
§ 2983 (a) Except as provided in subdivision (b), if the seller, except as the result of an accidental or bona fide error in computation, violates any provision of…
§ 2983.1 (a) If the seller or holder of a conditional sale contract, except as the result of an accidental or bona fide error of computation, violates any provision of…
§ 2983.2 (a) Except where the motor vehicle has been seized as described in paragraph (6) of subdivision (b) of Section 2983.3, any provision in any conditional sale…
§ 2983.3 (a) (1) In the absence of default in the performance of any of the buyer’s obligations under the contract, the seller or holder may not accelerate the maturity…
§ 2983.35 (a) If a creditor has requested a cosigner as a condition of granting credit to any person for the purpose of acquisition of a motor vehicle, the creditor or…
§ 2983.37 (a) After a sale of a vehicle under this chapter, a buy-here-pay-here dealer, as defined in Section 241 of the Vehicle Code, shall not do any of the following:…
§ 2983.4 Reasonable attorney’s fees and costs shall be awarded to the prevailing party in any action on a contract or purchase order subject to the provisions of this…
§ 2983.5 (a) An assignee of the seller’s right is subject to all equities and defenses of the buyer against the seller, notwithstanding an agreement to the contrary,…
§ 2983.6 Any person who shall willfully violate any provision of this chapter shall be guilty of a misdemeanor.
§ 2983.7 No conditional sale contract shall contain any provision by which: (a) The buyer agrees not to assert against the seller a claim or defense arising out of the…
§ 2983.8 Notwithstanding Section 2983.2 or any other provision of law, no deficiency judgment shall lie in any event in any of the following instances: (a) After any…
§ 2984 Any failure to comply with any provision of this chapter (commencing with Section 2981) may be corrected by the holder, provided, however, that a willful…
§ 2984.1 Every conditional sale contract shall contain a statement in contrasting red print in at least 8-point bold type which shall satisfy the requirements of…
§ 2984.2 (a) No conditional sale contract, and no agreement between a seller and a buyer made in connection with a conditional sale contract, may provide for the…
§ 2984.3 Any acknowledgment by the buyer of delivery of a copy of a conditional sale contract or purchase order and any vehicle purchase proposal and any credit…
§ 2984.4 (a) An action on a contract or purchase order under this chapter shall be tried in the superior court in the county where the contract or purchase order was in…
§ 2984.5 (a) A seller shall maintain the following documents for at least seven years or the length of the conditional sales contract, whichever is longer: (1) A copy…
§ 2984.6 A holder of a conditional sales contract, purchase order, or security interest, or the agent of a holder, who has received a notice pursuant to Section 7507.6…