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DFI-Bkg 78.01   Scope.
DFI-Bkg 78.02   Definitions.
DFI-Bkg 78.03   Determining retail value of motor vehicle.
DFI-Bkg 78.04   Records.
DFI-Bkg 78.01 DFI-Bkg 78.01Scope. This chapter applies to any title loan made pursuant to s. 138.16, Stats.
DFI-Bkg 78.01 History History: CR 12-034: cr. Register May 2013 No. 689, eff. 6-1-13.
DFI-Bkg 78.02 DFI-Bkg 78.02Definitions. In this chapter:
DFI-Bkg 78.02(1) (1) “Division" has the meaning set forth in s. 138.16 (1) (a), Stats.
DFI-Bkg 78.02(2) (2) “Licensed lender" has the meaning set forth in s. 138.16 (1) (b), Stats.
DFI-Bkg 78.02 History History: CR 12-034: cr. Register May 2013 No. 689, eff. 6-1-13.
DFI-Bkg 78.03 DFI-Bkg 78.03Determining retail value of motor vehicle.
DFI-Bkg 78.03(1) (1) A licensed lender shall use any of the following nationally recognized vehicle valuation guides to determine the retail value of a motor vehicle at the time of loan origination:
DFI-Bkg 78.03(1)(a) (a) Black Book.
DFI-Bkg 78.03(1)(b) (b) National Automobile Dealers Association.
DFI-Bkg 78.03(1)(c) (c) Kelley Blue Book.
DFI-Bkg 78.03(1)(d) (d) Other nationally recognized vehicle valuation guides as approved in writing by the division.
DFI-Bkg 78.03(2) (2) A licensed lender shall take all of the following vehicle criteria into consideration when it determines the retail value of a motor vehicle at the time of loan origination:
DFI-Bkg 78.03(2)(a) (a) Location.
DFI-Bkg 78.03(2)(b) (b) Year, make, and model.
DFI-Bkg 78.03(2)(c) (c) Trim or body type.
DFI-Bkg 78.03(2)(d) (d) Mileage.
DFI-Bkg 78.03(2)(e) (e) Engine size.
DFI-Bkg 78.03(2)(f) (f) Transmission type.
DFI-Bkg 78.03(2)(g) (g) Options.
DFI-Bkg 78.03(2)(h) (h) Condition.
DFI-Bkg 78.03(2)(i) (i) Other criteria used by the nationally recognized vehicle valuation guide when determining the retail value of a motor vehicle.
DFI-Bkg 78.03 History History: CR 12-034: cr. Register May 2013 No. 689, eff. 6-1-13.
DFI-Bkg 78.04 DFI-Bkg 78.04Records. Documentation detailing how the retail value of the motor vehicle was determined shall be retained by the licensed lender in the customer's file.
DFI-Bkg 78.04 History History: CR 12-034: cr. Register May 2013 No. 689, eff. 6-1-13.
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Published under s. 35.93, Stats. Updated on the first day of each month. Entire code is always current. The Register date on each page is the date the chapter was last published.