Iowa Code

Iowa Code § 537.2403 (2026)

Finance charge for consumer loans secured by a motor vehicle

✓ current as of July 2026

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1. A lender shall not contract for or receive a finance charge exceeding twenty-one percent per year on the unpaid balance of the amount financed for a loan of money secured by a certificate of title to a motor vehicle used for personal, family, or household purpose except as authorized under chapter 536 or 536A. A consumer who is charged a finance charge in excess of the limitation in this section may seek any remedies available pursuant to this chapter for an excess charge. 2. It shall be a violation of this section and an unlawful practice under section 714.16 to attempt to avoid application of this section by structuring a loan of money secured by a certificate of title to a motor vehicle as a sale, sale and repurchase, sale and lease, pawn, rental purchase, lease, or other type of transaction with the intent to avoid application of this section or any other applicable provision of this chapter. 2007 Acts, ch 26, §3 Referred to in §537.2401, 537.2402\n\nTue Dec 09 22:02:53 2025 Iowa Code 2026, Chapter 537 (58, 3) 21 CONSUMER CREDIT CODE, §537.2501\n\n PART 5 CONSUMER CREDIT TRANSACTIONS: OTHER CHARGES AND MODIFICATIONS Referred to in §322.33, 536.13, 536A.31, 537.2102

Notes of Decisions

Cited in 2 cases, 2009–2009 · leading case: Anderson Fin. Servs., LLC v. Miller, 769 N.W.2d 575 (Iowa 2009).

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Anderson Fin. Servs., LLC v. Miller, 769 N.W.2d 575 (Iowa 2009). · cites it 22× “§ 3 (codified at Iowa Code § 537.2403 (1)). Thus, the effect of the new legislation was to impose limits on the finance charges for car title loans where none had previously existed.”

Anderson Fin. Servs., Llc D/b/a Loan Max & Loan Smart Vs. Thomas J. Miller, Attorney Gen. Of The State Of Iowa In His Off. Capacity (Iowa 2009). · cites it 18× “§ 3 (codified at Iowa Code § 537.2403 (1)). Thus, the effect of the new legislation was to impose limits on the finance charges for car title loans where none had previously existed.”

— Iowa Code § 537.2403(1) — 2 cases

Anderson Fin. Servs., LLC v. Miller, 769 N.W.2d 575 (Iowa 2009). “§ 3 (codified at Iowa Code § 537.2403 (1)). Thus, the effect of the new legislation was to impose limits on the finance charges for car title loans where none had previously existed.”

Anderson Fin. Servs., Llc D/b/a Loan Max & Loan Smart Vs. Thomas J. Miller, Attorney Gen. Of The State Of Iowa In His Off. Capacity (Iowa 2009). “§ 3 (codified at Iowa Code § 537.2403 (1)). Thus, the effect of the new legislation was to impose limits on the finance charges for car title loans where none had previously existed.”

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