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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.

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

364 NW 171st Street

North Miami Beach, FL 33169

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