Florida has imposed a rate cap on title loans. The maximum interest rate for a title loan in Florida is 30 percent APR for the first $2,000, 24 percent APR for loans between $2,000 and $3,000, and 18 percent APR for loans exceeding $3,000.
If your lender has charged a higher interest rate, it has to refund the excess interest paid, return the car, and forfeit the principal amount of the loan. Here is the law: 537.011 Title loan charges.
The other option is to try to buy the car back at the auction since you can bid on your own car.
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