Legal Question in Civil Litigation in Florida

You signed the contract. You were not coerced or forced to sign the contract or accept the vehicle. It was your choice, therefore there is no "maximum allowable interest".

Look up the usury laws for the applicable states. Florida actually has enacted a pretty liberal system when it comes to usurious lending practices at the present time. It ranks as one of the most liberal laws in the country when it comes to what lenders can charge in the way of interest on personal loans.

The State of Florida has established a two tier system when it comes to usury limitations on personal loans. (1) On personal loans under $500,000, the general usury limit that has been established in Florida is at 18%; (2) In considering loans above $500,000, the general usury limitation has been set at 25%.

The statutory proscriptions against usurious interest rates generally are set forth in Chapter 687.