PA SB483

Requires motor vehicle installment sellers to provide a separate "FINANCIAL DISCLOSURE" document to buyers before presenting a sales contract, detailing creditor identity, total amount financed, interest rate, all charges and fees, monthly payment, and loan duration

Mandates a one business day waiting period between providing the disclosure and presenting an executable installment sale contract to give buyers time to review financing terms

Requires disclosures to include department-developed information explaining how loan duration affects costs, that seeking additional offers can reduce payments, and disclaimers about maximum allowable interest rates and prepayment penalties

Violations constitute a summary offense with fines up to $500 per violation and also qualify as violations of Pennsylvania's Unfair Trade Practices and Consumer Protection Law

Takes effect 18 months after enactment; exempts business-to-business transactions from the disclosure requirements