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TEXAS OFFICE of CONSUMER CREDIT COMMISSIONER

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  • Motor Vehicle Sales Finance (MVSF)

Motor Vehicle Sales Finance (MVSF)

A motor vehicle installment sale is a two-party transaction between a retail seller and a retail buyer for a personal use vehicle.

Overview

Both sellers and holders of retail installment contracts are required to have motor vehicle sales finance licenses. 

Interest or finance charges are not required for a transaction to be considered financed. 
A sale is considered financed  when the buyer agrees to make payments over time. Exception: Resale purpose. See laws below for more information.

Businesses required to be licensed by the OCCC include, but are not limited to: 

  • Dealers Holding contracts (Buy Here Pay Here)
  • Dealers Assigning Contracts
  • Acceptance Companies

Administrative Action Report

Motor Vehicle Sales Finance Administrative Action Report - Fiscal Year 2018

Resources

Licensing & Forms 

Advisory Bulletins & Disclosures

Debt Cancellation Agreements

Documentary Fees

Rate Charts

Examination Process

Dealer Education

Contracts- Software Vendors

Contracts- Plain Language

 

Statutes & Rules

These are the primary statutes and rules that apply to motor vehicle installment sales. This is not a complete list of laws that motor vehicle installment sales companies are required to comply with.

Primary State Statutes
Chapter 348, Texas Finance Code: Motor Vehicle Installment Sales

OCCC's Rules
Title 7, Chapter 84, Texas Administrative Code

Other State Statutes
Texas Legislature Online

Federal Statutes & Rules
U.S. Government Publishing Office

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The Finance Commission Building is closed to the public. Click here for contact info.


Licensee Portal 

ALECS(New Applications/Existing Licensees)


Step by step guides:

Create ALECS Account 

File  Annual Report


Licensee Search 

Important Information
FORMS (Licensing)
License Renewal Dates
MVSF Renewal 2020

MV renewal has moved to October of every year. Licenses acquired prior to Oct 1, 2020 will need to renew according to the information below...

October 1 - Renewal Opens 

October 31- Renewal Closes****

   ****Licenses not renewed by midnight will Cancel***

Nov 1 - Reinstatement* period opens

*Licenses not renewed by Oct 31, 2020 have 180 days after  the cancellation date at midnight to reinstate* their cancelled license(s). Licenses not reinstated not later than the 180th day after its expiration date (Oct 31) will Cancel-Non Renewable and you will need to reapply.

*Reinstatate - $1,000 late filing fee + the renewal fee for each license you are reinstating.

RENEWAL HOW TO

MVSF Quick Reference Guide

Printable Brochure (Adobe Acrobat)

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