Sales Finance Company

Licensed under Wis. Stat. ss. 218.0101 to 218.0163, sales finance companies acquire installment sales contracts and/or consumer leases that are originated by Wisconsin motor vehicle and recreational vehicle dealers. Holders of sales finance licenses include banks, loan companies, motor vehicle dealerships, savings institutions, and organizations specializing in sales finance contracts and consumer lease agreements.

NMLS Transition Information

Revisions to Wisconsin’s Sales Finance Company Administrative Rule, Wis. Admin. Code ch. DFI-Bkg 76, became effective on September 1, 2023. The changes require:

Licensees to transition to the Nationwide Multistate Licensing System & Registry ("NMLS") by October 31, 2023.
New owners/officers to request a credit report and criminal history report through NMLS.
Material information to be kept current and accurate on NMLS. If the information changes in any material respect, the licensee must update NMLS within 10 days after the change.
Annual renewals to be submitted thru NMLS. It also indicates that if a licensee fails to renew by the required due date, the licensee can reinstate its license by filing the renewal thru NMLS, paying the renewal fee, submitting all required renewal documentation, and paying a $100 non-refundable reinstatement fee. The reinstatement period will close on February 28th of each year.

Transition related resources for licensees are linked below.

Press Release (issued June 13, 2023)
Preparing to Use NMLS (Depository Institutions)
Preparing to Use NMLS (Non-Depository Institutions)

Frequent Links

Sales Finance Company Applications and Forms
List of Licensed Sales Finance Companies
Sales Finance Company Frequently Asked Questions
Sales Finance Company Statutes
Sales Finance Company Administrative Rules (Bkg. 76)
Renewal Fee Calculator

Common Tasks

Helpful Information for Dealers

Guaranteed Asset Protection (GAP)

Motor Vehicle Conditional Delivery Agreements

Installation of GPS and/or Starter Interrupt Technology on a Vehicle

Helpful Information for Sales Finance Companies

Annual Filing Due Dates

Non-Sufficient Fund (NSF) Fees Arising from Automated Clearing House (ACH) Transactions - DFI Interpretive Opinion Letter written October 9, 2020.

Application of Partial Prepayment - DFI Interpretive Opinion Letter written May 22, 2008.

Calls to a Debtor's Friends, Family, and Other Third Parties - DFI Interpretive Opinion Letter written April 13, 2020.

Expedited Payment Processing Fees

Business Guidance and DFI Interpretive Opinions

Cybersecurity Resources

Cybersecurity 101 - a resource developed by the Conference of State Bank Supervisors intended to be an easily-digestible, non-technical reference guide to help executives develop a comprehensive, responsive cybersecurity program in line with best practices.

Ransomware Self-Assessment Tool – a resource developed by the Conference of State Bank Supervisors in conjunction with the Bankers Electronic Crimes Taskforce and the United States Secret Service which contains important controls that all types of companies should use to assess their efforts to mitigate risks associated with ransomware and to identify opportunities for increasing security.

Federal Trade Commission's Cybersecurity for Small Business Resources – a set of cybersecurity resources developed in partnership with the National Institute of Standards and Technology, the U.S. Small Business Administration, and the Department of Homeland Security.

Contact Us

Phone: (608) 261-7578
Email: DFI_LFS@dfi.wisconsin.gov