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HI HB262
Bill
Status
Introduced
1/17/2025
Primary Sponsor
David Alcos
Click for details
AI Summary
- Caps interest rates on vehicle loans for first-time vehicle buyers in Hawaii at a maximum of 2% annually
- Requires 0% interest rate loans for first-time vehicle buyers with credit scores of 600 or above
- Limits interest rates to 2% annually for first-time vehicle buyers with credit scores below 600
- Allows consumers charged higher rates than permitted to seek redress under existing usury laws in Chapter 478, Hawaii Revised Statutes
- Takes effect on January 1, 2026
Legislative Description
Relating To Interest.
Interest Rate
Last Action
Carried over to 2026 Regular Session.
12/8/2025
Committee Referrals
Consumer Protection & Commerce1/21/2025
Full Bill Text
No bill text available