CT HB05297

Adds a new definition of "finance charge markup" as the difference between the annual percentage rate charged by a retail seller and the rate offered by the sales finance company acquiring the contract.

Requires retail motor vehicle sellers to disclose in writing to buyers: the annual percentage rate of the seller's finance charge, the identity and rate of the sales finance company offering the lowest rate, and any finance charge markup imposed.

Renumbers existing definitions in section 36a-770 to accommodate the new finance charge markup definition, shifting definitions (6) through (15) to (7) through (16).

Updates enforcement and penalty provisions in sections 36a-679, 36a-681, and 36a-684 to reference the amended statutory sections and maintain consistency with truth-in-lending requirements.

All provisions take effect upon passage of the bill.