Wisconsin Legislature: DFI-Bkg 78.03(1)(a)

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 78.01DFI-Bkg 78.01 Scope. This chapter applies to any title loan made pursuant to s. 138.16, Stats.

DFI-Bkg 78.01 HistoryHistory: CR 12-034: cr. Register May 2013 No. 689, eff. 6-1-13.

DFI-Bkg 78.02DFI-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 HistoryHistory: 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 78.03DFI-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 HistoryHistory: 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 78.04DFI-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 HistoryHistory: CR 12-034: cr. Register May 2013 No. 689, eff. 6-1-13.