Florida permits title loans and regulates lenders under statute 537. Borrowers have rights such as refusing partial payments and prohibiting insurance sales or prepayment penalties. Lenders must allow 30 days to repay at interest rates capped at 30% for loans under $2,000. If loans are unpaid, lenders can repossess vehicles and sell them to recover costs, notifying borrowers beforehand. Excess sale proceeds must be given to borrowers within 30 days. Local ordinances may impose additional regulations.

1. FLORIDA TITLE
LOAN LAWS

2. FLORIDA TITLE LOAN REGULATIONS
The state of Florida is one of twenty-three states that
permit title loans. Title loan lenders in Florida are
required to be licensed and are regulated by under
statute 537 et seq. If your rights are violated as a
borrower, you can take legal action against your title
lender.

3. HELLO!
I am Dwayne D.
You can find me at support@titlelo.com

4. 1.
WHAT YOU NEED TO
KNOW
Let’s start with the basics.

5. PROHIBITED ACTIONS
»A lender cannot refuse a partial payment towards
your loan.
»A lender cannot sell or charge you insurance.
»A lender cannot charge a pre-payment penalty.
»A lender cannot advertise “interest-free loans.”

6. PAYMENT & INTEREST RATES
Once you’ve agreed and signed your title loan
contract, the state of Florida requires title loan lenders
to give you at least 30 days to repay the loan. Interest
rates are capped at 30% per year for the first $2,000
borrowed, 24% for amounts between $2,000 - $3,000,
and 18% for loan amounts greater than $3,000.

7. Quick Tip
Title loan contracts should
include all legally required
provisions and agreed upon
terms, and be signed by both
parties.

8. LOST OR STOLEN CONTRACTS
If your title loan contract is lost, destroyed, or stolen,
you should immediately let your title lender know. Your
lender must be notified in writing by certified or
registered mail, return receipts requested, or in-person
with a signed receipt as evidence. A lender cannot
charge you for a copy of the agreement.

9. 2.
REPOSESSION LAWS
Let’s continue with Florida’s repossession laws.

10. VEHICLE REPOSESSION
The state of Florida permits title loan companies to
repossess vehicles. If your title loan is not paid within
the agreed upon date, your lender has every right to
take steps to begin the repossession process.
However, your lender must give you the opportunity to
remove any personal belongings before taking your
car.

11. SELLING YOUR VEHICLE
To recover the unpaid amount of your title loan, your
lender may sell your vehicle through a dealer or post it
for sale through a public medium. Ten days before the
sale, your lender must let you know, in writing, of how
much you owe. During this time, you may still reclaim
your vehicle by paying back the full title loan amount.

12. EXCESS PROCEEDS
If your vehicle is sold for more than the amount you
owe to the lender, you are entitled to receive the
excess proceeds from the sale. Your title lender must
disburse these funds within 30 days of the sale.

13. Quick Tip
If you can’t pay your title loan,
you may extend your loan for
another 30 days. However,
extending your loan for more
than 2 months is not
recommended.

14. LOCAL ORDINANCES
All laws and procedures presented here apply all
across the State of Florida. However, individual
counties or municipalities may still adopt ordinances
that vary from what state law says. Therefore, to fully
understand the laws of title loans you will need to
research if your county or municipality has any specific
regulations.

15. NEED A
TITLE LOAN?
Securing a title loan can be a
difficult and lengthy process.
Save yourself the hassle and
apply for a title loan with Titlelo.
Place your screenshot here

16. THANKS!
Any questions?
Titlelo Title Loans
3000 NE 30th Pl Ste 104
Fort Lauderdale, FL 33306
855-341-4500

17. REFERENCES
Dumesle, D. (2017, December 31). Florida Title Loan Laws | Know Your Rights. Retrieved
February 08, 2018, from https://titlelo.com/learn/florida-title-loan-laws/
Titlelo Title Loans. (n.d.). Florida Title Loans Made Simple. Retrieved February 08, 2018,
from https://titlelo.com/florida/
Title Loan Companies. (n.d.). Retrieved February 08, 2018, from
https://www.flofr.com/StaticPages/TitleLoanCompanies.htm
How to Protect Yourself: Title Loans. (n.d.). Retrieved February 08, 2018, from
http://myfloridalegal.com/pages.nsf/Main/76D0D43D99E8986285256CC9005FB7F0?Ope
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