Louisiana Motor Vehicle Sales Finance Act

Does anyone know if the LMVSFA applies to refis of an auto loan PLUS new money? Or, is that under the Louisiana Consumer Credit Law?

LCCL. LMVSFA is for financing the purchase/acquisition of a motor vehicle.

Ed you might want to refer to the following to re-think your answer:

§969.6. Definitions

(9) "Consumer loan" means a loan of money or its equivalent made by a lender, the

proceeds of which are used by the consumer to purchase or refinance the purchase of a motor

vehicle, or which proceeds are used for personal, family, or household purposes, including debts

created by the use of a lender credit card, revolving loan account, or similar arrangement, as well

as insurance premium financing, with the lender acquiring a purchase money security interest in

the purchased motor vehicle. A consumer loan may be secured by other collateral in addition to the

purchased vehicle.