Car name loan providers must certanly be certified in Miami-Dade County to be able to participate in the name loan financing business.
A name loan is that loan of cash guaranteed by way of a certification of name to an auto. The name loan provider keeps the certification just in case the mortgage just isn’t compensated.
Car name loan enrollment
Bring the documents that are following individual:
- Done Car Title Loan registration application
- Title loan contract
- Relationship when you look at the number of $100,000. This protects customers that are hurt by any failure associated with the title loan company or breach associated with the statutory legislation because of the name loan lender
- Present partnership contract, if relevant
- Latest report that is annual using the Florida Division of Corporations (fictitious, partnership, company)
- Court records information, if relevant
The application will be considered abandoned and closed and a new application and fee will be required if the application process is not completed within 60 days of its filing.
If applying online, be sure to follow these guidelines.
- Initial automobile name loan registration: $1,874.00
- Biannual renewal cost: $1,430.00
- Reactivation cost: $314.00
- Replacement certification (optional): $18.00
- Background check cost: $25.00
Money just isn’t accepted. The non-refundable fees can be paid by credit card (MasterCard, Visa or American Express), check, money order or cashierвЂ™s check made payable to Miami-Dade County if applying in person. If using the internet portal, charges can be compensated making use of a major charge card.
An inactive permit may be reactivated within 90 days following the date it becomes inactive upon the distribution of a renewal application, the renewal charge and a reactivation charge.