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State License Number: PN4360

 

  • Miami Boat & Auto Pawn does not conduct any credit checks.

  • No title pawn loans are under 61 days. 

  • The minimum loan period is 61 days, the maximum is 10 years.

  • Maximum annual percentage rate (APR) is 35%.

  • There are no pre-payment penalties and there are no additional title loan fees or charges.

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Representative Examples;

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For Example:

If you take loan of $10,000 for a 3 month period at 35% APR then your repayment would be as follows: 

 

Loan Amount (Principal) = $10,000

APR(Annual Percentage Rate) = 35%

Time Period = 3 Months

 

Flat Interest:

Interest = Principal × Annual Percentage Rate × Time Period in months/12

 

Calculation = $10,000 × 0.35 × 3/12 = $10,000 × 0.0875 = $875.01

 

Therefore, Total Repayment = $10,000 + $875 = $10,875.01

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For Another Example:

If you take loan of $100,000 for a 6 month period at 20% APR then your repayment would be as follows: 

 

Loan Amount (Principal) = $100,000

APR(Annual Percentage Rate) = 20%

Time Period = 6 Months

 

Flat Interest:

Interest = Principal × Annual Percentage Rate × Time Period in months/12

 

Calculation = $100,000 × 0.20 × 6/12 = $100,000 × 0.1 = $10,000.02

 

Therefore, Total Repayment = $100,000 + $10,000 = $110,000.02

 

 

 

 

 

 

 

 

Miami Boat & Auto Pawn

364 NW 171st Street

North Miami Beach, FL 33169

© All Rights Reserved 2014-2025

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Closer to Orlando / Kissimmee?

Try www.FloridaAutoPawn.com

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