Getting Title Loans in Miramar, Florida
Sometimes life throws you a curveball and hits you with expenses you just don’t have in the bank. Maybe there’s an unexpected medical cost, maybe you needed a home repair you didn’t see coming, maybe you owe a bit more tuition than you thought, or maybe something else happened and you just need a little help getting cash fast.
When that happens, car title loans in Miramar FL are often the fastest, most convenient way to get a short-term loan and help you make it to next payday. Title loans often have money in borrower’s hands in as little as 24 hours to help give some breathing room while you deal with unexpected financial stress.
All a borrower has to do is send off their car’s title as collateral for their title loans in Miramar FL and the lender sends the funds straight to them. The lender hangs onto the title for the duration of the loan, which is generally less than 90 days, and once everything is paid back the lender sends the title back to its rightful owner. With title loan locations in Miramar, Hialeah, Hollywood, and Ft. Lauderdale, finding a location will not be hard. Title loans in FL aren’t intended to be used like long-term loans, but when you’re in a bind they are the fastest, easiest way to get the money you need when you need it.
Borrower’s Rights for Title Loans in Miramar FL
Florida politicians fight to keep car title loans fair and help borrowers get more for their money. Check out the regulations passed by the state and see what companies are doing to ensure that Florida borrowers are better protected than ever.
Understanding the interest and fees that come with title loans Miramar FL is important as a borrower.
Title lending is completely legal in the State of Florida, and it’s even subject to some industry-specific laws and regulations set down by the state. Any lender worth working with is going to look out for you as a borrower first, but it’s important to understand what your rights are as a borrower and how to spot a fraudulent lender when seeking title loans in Miramar FL.
A good place to start is with the loan agreement. All title lenders are required to provide a written loan agreement to borrowers. Under Chapter 537 of the Florida State Statutes this agreement must include important pieces of information including:
- The amount to be borrowed
- The interest to be paid, which cannot exceed 30 percent annually
- Language regarding the repossession of a vehicle for failure to pay
- The contact information for the Florida Office of Financial Regulation
Any lender unwilling to give a borrower a written agreement with that information, or any lender who does not abide by the regulations outlined in the Florida Title Loan Act is not a legitimate title lender and should not be used for loan services.
If you believe you have been in contact with a lender who has violated your rights as a borrower, you should file a report with both the Florida Office of Financial Regulation and the Consumer Financial Protection Bureau immediately. You may also want to get in contact with the Miramar police department to file a report.