NC H1155

Exempts consumer credit installment sale contracts for self-propelled motor vehicles with loan amounts exceeding $10,000 from balloon payment restrictions.

Removes the requirement that scheduled payments cannot be more than 10% larger than the average of earlier scheduled payments (or 25% for final payments) for qualifying vehicle loans.

Intended to increase highway trust fund revenue by stimulating motor vehicle sales through greater flexibility in loan payment structures.

Effective October 1, 2012.