Down Payment?

Posted By: Anonymous

Down Payment? - 07/20/21 06:08 PM

Are we required to list a down payment on a private part auto loan TIL? I can't find if that is pertinent to the loan or not since it is agreed upon likely before the borrower comes in to apply for the loan.
Posted By: rlcarey

Re: Down Payment? - 07/20/21 06:11 PM

If you are talking about a Total Sales Price disclosure, that is only required when the creditor is selling the merchandise.
Posted By: Richard Insley

Re: Down Payment? - 07/21/21 01:58 AM

With the exception of self-financed sales of repos and OREO, banks rarely (if ever) have to use Model Form H-1.