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Do usury laws apply to all lenders?

I'm going to be getting a new car and have to apply for loans. I want to be sure I get a good deal. Do usury laws apply to every lender?

avatar
Emily Maracle · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Usury laws and regulations vary state to state. For example, usury law applies in Utah for every lender unless the signed contract states a higher interest limit. In comparison, most lenders in Virginia are exempt from usury law.
If you’re concerned about getting a good deal on your
car loan
, you should look into a few different lenders. You can research your own state’s usury law and find out what the maximum interest rate is. From there, you can compare the rates you are getting from lenders.
Before you sign anything, you should be sure you understand the terms and conditions of your loan agreement. If you have any questions or are unsure of anything, have an attorney or a knowledgeable friend or family member look the contract over.
With a new car, you’re also going to need full coverage car insurance. The free
Jerry
 app provides you with over 40 competitive quotes with ease, giving you more time to enjoy your new ride.”
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

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