Wisconsin Legislature: Chapter DFI-Bkg 78

Chapter DFI-Bkg 78

TITLE LOANS

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 78.01 Scope. 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 78.02 Definitions. In this chapter:

DFI-Bkg 78.02(1) (1) “Division" means the division of banking.

DFI-Bkg 78.02(2) (2) “ Licensed lender" means a person licensed under s. 138.09, Stats.

DFI-Bkg 78.02 History History: CR 12-034: cr. Register May 2013 No. 689, eff. 6-1-13; CR 23-039: am. (1), (2) Register March 2024 No. 819, eff. 4-1-24.

DFI-Bkg 78.03 DFI-Bkg 78.03 Determining 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 a 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; CR 23-039: am. (2) (i) Register March 2024 No. 819, eff. 4-1-24.

DFI-Bkg 78.04 DFI-Bkg 78.04 Records. 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.