Consumer protection: other; citations to the motor vehicle sales finance act in the credit reform act; revise. Amends secs. 2 & 5 of 1995 PA 162 (MCL 445.1852 & 445.1855). TIE BAR WITH: SB 0739'25

SB 748 amends Michigan's Credit Reform Act to clarify that motor vehicle financing under the Motor Vehicle Sales Finance Act (MCL 492.101-492.137a) falls under the same consumer protection rules as other credit sales. It specifically updates Section 5 to allow precomputed interest for car loans (where interest is calculated upfront) if rebates for early payoff are calculated using the actuarial method. This directly affects car buyers, dealers, and lenders offering vehicle financing by standardizing how interest and rebates are handled. The bill aims to reduce confusion about consumer protections for auto loans without changing the underlying law.