Section 82 General Usury Law

• Library: Motor Vehicle 2011

Direct loans, particularly for the purchase of new automobiles, may be made under the general usury statute, § 408.030, RSMo 2000, which has a lower rate ceiling than any of the above statutes. New car loans are often more competitive than used car loans, and it behooves the creditor to set an interest rate within the limits of this statute...