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Alex J. Esq.
Alex J. Esq., Attorney at Law
Category: Consumer Protection Law
Satisfied Customers: 16264
Experience:  Experienced Licensed Attorney
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I live in the state of florida and purchased a 2008 cadillac

Customer Question

I live in the state of florida and purchased a 2008 cadillac cts in the state of florida. The bank that financed me is in california.I was financed with an interest rate of 24.9%. I need to know what is the maximum interest rate for the state of florida with a lender from california.
Submitted: 7 months ago.
Category: Consumer Protection Law
Expert:  Alex J. Esq. replied 7 months ago.

Hello. My name is***** am a US licensed attorney and I will be happy to answer your question.
I am sorry to hear about this unfortunate situation.
Please note, I cannot comment on your specific situation, as this services is only limited to general information and for any legal advice / legal service you should contact your local attorney.

Unfortunately, federally insured banks and licensed finance companies are specifically exempt from the Florida usury laws, so there is no limit or cap when it comes to auto finance loan interest rate from such banks or finance companies in Florida or most other states.

I am very sorry to provide you with this bad news, but please understand that I do have professional obligation to provide customers with correct answers, even when answer is not favorable to the customer.

I wish you the best of luck and God bless you!

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