545.045 Purchase or assignment of third-party financing.

165 words·~1 min read·/fl/title-xxxiii/chapter-545/545-045

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(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 .