SSCRA

Is anyone aware of a restriction that would prohibit the addition of Vendors Single Interest Insurance on an auto loan to a military customer under SSCRA?

Thanks

I don't think there would be a prohibition. You might have more of a fight that you normally enjoy adding VSI if the borrower claims insurance wasn't needed because he was gone and the car was on blocks, etc... But maintaining insurance is a condition of the loan, not an attempt at collection or imposing a fee of some sort to make up for any reduced interest rate.

You would have a similar issue if it was a mortgage. If there was flood coverage that lapsed, you'd have to force place that as well.