Section 72 Missouri Motor Vehicle Time Sales Law
| Library | Motor Vehicle 2011 |
Most often the purchaser of a new or used car will execute with
the seller a retail installment contract and promissory note agreeing to pay the balance of the purchase price in periodic installments. Most sellers will immediately assign or discount the contract to some third party. Usually, the third party will be a finance company, a bank, or an acceptance company—such as General Motors Acceptance Corporation, Ford Motor Credit Company, or American Honda Finance—that purchases all or most of the...
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