Motor Vehicle Sales Finance Act FAQ

  • Motor Vehicle Sales Finance Act FAQ

    Posted 02/26/21

FAQ
Where can I find the application for an Installment Seller or Sales Finance license?

The applications can be found on DIFS website. Click Licensing - Consumer Finance and Mortgage, then click Motor Vehicle Installment Seller/Sales Finance Co. (under How to Become Licensed header).

How do I apply for an Installment Seller license?

Complete Form FIS 1028. Detailed instructions are included in the application.DIFS encourages you to type the application as the on-line application contains “fillable” fields.

How do I apply for Sales Finance license?

Complete Form FIS 2311. Detailed instructions are included in the application.DIFS encourages you to type the application as the on-line application contains “fillable” fields.

Do I need to submit a copy of my installment sales contract with my application?

No.

What fees are charged for a license?

See current fee schedule.

How do I amend a license (name, address, ownership)?

Amendment instructions can be found on DIFS website. Click Licensing - Consumer Finance and Mortgage, then click Motor Vehicle Installment Seller/Sales Finance Co. (under Once You Are Licensed header).

How do I renew a license?

Renewal instructions and FAQs can be found on DIFS website. Click Licensing - Consumer Finance and Mortgage, then click Motor Vehicle Installment Seller/Sales Finance Co. (under Renewals header).

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    The answers provided are not meant to be a substitute for legal advice.