Finance Company means any person engaged in the business of financing sales of motor vehicles, motorcycles, or trailers, or purchasing or acquiring promissory notes, secured instruments, or other documents by which the motor vehicles, motorcycles, or trailers are pledged as security for payment of obligations arising from such sales and who may find it necessary to engage in the activity of repossession and sale of the motor vehicles, motorcycles or trailers so pledged.
Issuance of this license would also allow for the purchase of "repossession plates" from the Department of Motor Vehicles.
Companies should also check with Banking & Finance Department for further requirements and regulations (402-471-2171).
