Allows motor vehicle buyers to be charged a fee for electronic payments under certain conditions.

This bill creates a new section in Florida Statutes, defining "electronic payment" and allowing holders of retail installment contracts to collect fees for processing such payments. The fee can only be charged if it is reasonably related to the cost of processing, the buyer is allowed to pay by other methods without a fee, electronic payment is not the expected form of payment, and the buyer is informed of the fee amount before agreeing to the payment. The act takes effect July 1, 2026.

Allows motor vehicle buyers to be charged a fee for electronic payments under certain conditions.

This bill creates a new section in Florida Statutes, defining "electronic payment" and allowing holders of retail installment contracts to collect fees for processing such payments. The fee can only be charged if it is reasonably related to the cost of processing, the buyer is allowed to pay by other methods without a fee, electronic payment is not the expected form of payment, and the buyer is informed of the fee amount before agreeing to the payment. The act takes effect July 1, 2026.