There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 58: Financial Institutions and Regulations
Article 19: Motor Vehicle Sales Finance, 58-19-1 through 58-19-14
Section 58-19-10.1: Loan to refinance motor vehicle sale.
NM Stat § 58-19-10.1 (1996 through 1st Sess 50th Legis) What's This?
58-19-10.1. Loan to refinance motor vehicle sale.
Any transaction in the form of a loan, other than a retail installment contract, is not subject to the provisions of the Motor Vehicle Sales Finance Act [58-19-1 NMSA 1978], even though all or a portion of the proceeds of such transaction in the form of a loan are applied to the unpaid balance of a retail installment contract.
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