Chapter V

A. The Louisiana Motor Vehicle Sales Finance Act is administered by the Louisiana Motor Vehicle Commission. B. The office and domicile of the Louisiana Motor Vehicle Commission is 3519 Twelfth Street, Metairie, LA 70002. Notes La. Admin. Code tit. 46 , § V-7101 Promulgated by the…

Chapter - R.S. 6:969.1 , et seq. Commission -Louisiana Motor Vehicle Commission. Consumer Credit Sale -the sale of a motor vehicle on credit under which the seller acquires a purchase money security interest in the purchased vehicle, and incident to which a credit service charge …

A. All advertised statements shall be accurate, clear and conspicuous. Notes La. Admin. Code tit. 46 , § V-711 Promulgated by the Office of the Governor, Motor Vehicle Commission, LR 34:76 (January 2008). AUTHORITY NOTE: Promulgated in accordance with R.S. 32:1253 .E.

A. The following statements are prohibited, list not exclusive: 1. statements such as "write your own deal," "name your own price," "name your own monthly payments," "appraise your own motor vehicle" or statements with similar meaning; 2. a. statements such as "everybody financed…

A. The layout, headlines, illustrations, or type size of a printed advertisement and the broadcast words or pictures of radio/TV advertisements shall not convey or permit an erroneous or misleading impression as to which vehicle or vehicles are offered for sale or lease at featur…

A. The suggested retail price of a new motor vehicle when advertised by a manufacturer or distributor shall include all costs and charges for the vehicle advertised, except that destination and dealer preparation charges, state and local taxes, title, and license fees may be excl…

A. The featured price of a new or used vehicle, when advertised, must be the full cash price for which the vehicle will be sold to any and all members of the buying public. The only charges that may be excluded from the advertised price are: 1. state and local taxes; 2. license; …

A. When the price of a vehicle is advertised, the following must be disclosed: 1. model year; 2. make; 3. model line and style or model designation; and 4. whether the vehicle is a used, demonstrator, or a factory executive/official vehicle. B. Expressions such as "fully equipped…

A. No advertisement shall be run which uses the term or terms "invoice;" "cost;" "percent over/under cost, invoice or profit;" "$$$ over/under cost, invoice or profit." Notes La. Admin. Code tit. 46 , § V-723 Promulgated by the Office of the Governor, Motor Vehicle Commission, LR…

A. No guaranteed trade-in amount or range of amounts shall be featured in advertising. Notes La. Admin. Code tit. 46 , § V-725 Promulgated by the Office of the Governor, Motor Vehicle Commission, LR 34:77 (January 2008). AUTHORITY NOTE: Promulgated in accordance with R.S. 32:1253…

A. A used vehicle shall not be advertised in any manner that creates the impression that it is new. A used vehicle shall be identified as either "used" or "pre-owned." Terms such as program car, special purchase, factory repurchase, certified or other similar terms are not suffic…

A. If a demonstrator or factory executive/official vehicle is advertised, the advertisement must clearly and conspicuously identify the vehicle as a demonstrator or factory executive/official vehicle. A demonstrator or factory executive/official vehicle may be sold only by a deal…

A. 1. No person unless exempt from licensing under R.S. 6.969.36 shall engage in the business of: a. making consumer loans or the origination of consumer credit sales; b. taking assignments of and undertake direct collection of payments from or enforcing rights against consumers …

A. The applicant shall be entitled to a hearing on the question of his qualifications for a license if the applicant requests such in writing to the commission and either of the following has occurred. 1. The applicant has received notification from the commission that his applic…

A. Annually by November 1 each licensee shall file a renewal application and pay a non-refundable renewal fee. 1. An annual renewal application received by the commission postmarked after December 1 shall be accompanied by a late filing fee, in addition to the annual renewal fee.…

A. Renewal of a license originally granted under this Chapter may be denied or a license may be suspended or revoked by the commission for any of the following grounds: 1. material misstatements in the application for a license; 2. failure to comply with any provision of this Cha…

A. All fees are non refundable. B. License application fee per location-$400. C. License renewal fee and late penalty per location-$400; late fee-$100. D. Change of location-no charge. Notes La. Admin. Code tit. 46 , § V-7309 Promulgated by the Office of the Governor, Motor Vehic…

A. Terms such as "auction" or "auction special" and other terms of similar import shall be used only in connection with a vehicle offered or sold at a bona fide auction. Notes La. Admin. Code tit. 46 , § V-731 Promulgated by the Office of the Governor, Motor Vehicle Commission, L…

A. No merchandise or enticement may be described as "free" if the vehicle can be purchased or leased for a lesser price without the merchandise or enticement of if the price of the vehicle has been increased to cover the cost or any part of the cost of the merchandise or enticeme…

A. Any cash offer or anything that is convertible to cash funded by the dealer shall not be used and is prohibited. Notes La. Admin. Code tit. 46 , § V-735 Promulgated by the Office of the Governor, Motor Vehicle Commission, LR 34:78 (January 2008). AUTHORITY NOTE: Promulgated in…

A. The term "authorized dealer" or a similar term shall not be used unless the advertising dealer holds both a franchise and a Louisiana Motor Vehicle Commission license to sell those vehicles he is holding himself out as "authorized" to sell. Notes La. Admin. Code tit. 46 , § V-…

A. It is unlawful for a manufacturer or distributor to advertise any offer of a rebate, refund, discount, or other financial inducement or incentive, which is either payable to or for the benefit of the purchaser or which reduces the amount to be paid for the vehicle, whether the…

A. It is unlawful for a dealer to advertise an offer of a manufacturer's or distributor's rebate, discount, or other financial inducement or incentive if the dealer contributes to the manufacturer's or distributor's program unless such advertising discloses that the dealer's cont…

A. Vehicle lease advertisements shall clearly and conspicuously disclose that the advertisement is for the lease of a vehicle. Statements such as "alternative financing plan," "drive away for $_______ per month," or other terms or phrases that do not use the term "lease," do not …

A. New vehicles shall not be advertised for sale in any manner that creates the impression that they are being offered for sale by the manufacturer or distributor of the vehicles. Advertisements by persons shall not contain terms such as "factory sale," "fleet prices," "wholesale…

A. A savings claim or discount offer is prohibited except to advertise a new or demonstrator vehicle, and the advertisement must show the difference between the dealer's selling price and the manufacturer's, distributor's, or converter's total suggested list price or MSRP. B. The…

A. 1. An advertisement that contains any one of the following messages, statements, or terms: a. the amount of a down payment, in either a percentage or dollar amount; b. the amount of any payment, in either a percentage or dollar amount; c. the number of payments; d. the period …

A. The commission shall have the power to examine all books, records and accounts of all persons licensed under this Chapter. Notes La. Admin. Code tit. 46 , § V-7501 Promulgated by the Office of the Governor, Motor Vehicle Commission, LR 31:924 (April 2005). AUTHORITY NOTE: Prom…

A. Each person required to be licensed under this Chapter shall maintain in its offices such books, records and accounts of its lending activities as the commission may prescribe by policy as required to determine whether such licensee is complying with the provisions of this Cha…

A. It is an unfair or deceptive act to advertise the offer of a "consumer lease" if the advertisement contains any one of the following two "triggering terms": amount of any payment or a statement of any capitalized cost reduction or other payment required prior to or at consumma…

A. "Bait" advertisement, as defined in §707, shall not be used by any person. Notes La. Admin. Code tit. 46 , § V-753 Promulgated by the Office of the Governor, Motor Vehicle Commission, LR 34:79 (January 2008). AUTHORITY NOTE: Promulgated in accordance with R.S. 32:1253 .E.

A. Representing a lowest price claim, best price claim, best deal claim, or other similar superlative claim shall not be used in advertising. B. A person may not advertise a "meet or beat" guarantee. Notes La. Admin. Code tit. 46 , § V-755 Promulgated by the Office of the Governo…

A. Terms such as "fleet prices," "fleet sales," "suppliers prices," or other terms implying that retail individual customers will be afforded the same price and/or discount as multi-purchase commercial businesses shall not be used in advertising. Notes La. Admin. Code tit. 46 , §…

A. No licensee may willfully misrepresent the ownership of a business for the purpose of holding a liquidation sale, auction sale, or other sale which represents that the business is going out-of-business. A person who advertises a liquidation sale, auction sale, or going out-of-…

A. GAP coverage covers a consumers deficiency balance between the net payoff of the consumers loan retail installment sales contract at the time of a loss and the amount paid by the consumers primary insurance after a vehicle is deemed a total loss due to any direct or accidental…

A. Guaranteed Auto Protection (GAP) offered by a Property and Casualty (P&C) company licensed and regulated by the Louisiana Department of Insurance. B. Guaranteed Auto Protection (GAP) offered by a Property Residual Value Insurer (PRVI) licensed and regulated by the Louisiana De…

A. The seller shall and the extender of credit may offer a consumer the option of voluntarily purchasing GAP coverage in a transaction involving a consumer loan or consumer credit sale secured by a motor vehicle. Notes La. Admin. Code tit. 46 , § V-7705 Promulgated by the Office …

A. Debt waiver or debt forgiveness is an agreement whereby a extender of credit agrees with the consumer to waive any unpaid balance on a consumer loan or consumer credit sale due to a physical damage total loss or constructive loss or unrecovered theft to the covered collateral …

A. An extender of credit may insure its debt waiver or debt forgiveness agreement by an insurance company licensed by the Louisiana Department of Insurance. Notes La. Admin. Code tit. 46 , § V-7709 Promulgated by the Office of the Governor, Motor Vehicle Commission, LR 31:925 (Ap…

A. The retail installment sales contract must have an addendum where upon the extender of credit agrees to waive the consumers debt for the difference between the amount paid by the consumers primary insurance and the net payoff of the contract. B. There shall be a clear statemen…

A. No person shall offer for sale a debt waiver or debt forgiveness agreement in this state until its sale materials, agreements, insurance policies and any and all documents used in connection with its offer and sale of such agreements shall be filed with the commission. B. With…

A. The commission shall have the power to issue subpoenas to compel the attendance of witnesses and the production of documents, papers, books, records, and other evidence before it in any matter over which it has jurisdiction, control, or supervision pertaining to this Chapter. …

A. The commission shall have the power to issue cease and desist orders to protect the public welfare. Notes La. Admin. Code tit. 46 , § V-7903 Promulgated by the Office of the Governor, Motor Vehicle Commission, LR 31:926 (April 2005). AUTHORITY NOTE: Promulgated in accordance w…

A. In addition to any other authority conferred upon the commission by this Chapter the commission may impose fines and penalties against persons violating the provisions of this Chapter and the rules and regulations adopted thereunder. B. The commission may impose a fine on any …

A. The commission, its employees and attorneys may issue advisory opinions and interpretations regarding this Chapter. Advisory opinions and interpretations of the commission or its employees and attorneys shall not be considered rules requiring compliance with the rule making pr…

A. The commission may issue a declaratory order and ruling pursuant to the Administrative Procedure Act which has the same status as a commission decision or order in an adjudicated case. B. A request for a declaratory order and ruling shall be made in the form of a petition to t…

A. The commission may enter into cooperative and reciprocal agreements with the regulatory authorities of the federal government or any state for the periodic examination of persons engaged in the business regulated by this Chapter and may accept reports of examination and other …

A. Franchised new motor vehicle dealers must have an enclosed new motor vehicle display showroom of not less than 400 square feet in area, and must maintain an adequate stock of replacement parts, an adequate shop area and adequate mechanical facilities for the proper servicing o…