Tags Auto Loans and Financing Q&A

Animals & Plants Arts & Entertainment Auto Beauty & Health Books and Literature Business Electronics Engineering & Technology Food & Drink History Hobbies Jobs & Education Law & Government Math People & Society Science Social Studies Sports Travel & Places

0

Auto>General Auto

Does Florida prohibit prepayment penalties on auto loans?

Anonymous

∙ 11y ago

Updated: 9/24/2023

Still curious? Ask our experts.

Chat with our AI personalities

Lao

The path is yours to walk; I am only here to hold up a mirror.

Chat with Lao

Steve

Knowledge is a journey, you know? We'll get there.

Chat with Steve

Vivi

Your ride-or-die bestie who's seen you through every high and low.

Chat with Vivi

Add your answer:

Earn +20 pts

Q: Does Florida prohibit prepayment penalties on auto loans?

Write your answer...

Submit

Still have questions?

imp

Trending Questions

Why You should allow more space in front of your vehicle when following a large truck? Which gauge indicates the total miles your car has been driven since it manufactured? Why do Cross rails on a roof rack make noise? Which company offers the cheapest house insurance? Where can someone find the cheapest insurance for classic cars? How many feet in o 0.16 acres? What does the vsc light mean in a 2008 Lexus Ls460 The car will not start and check vsc comes on.? Will life insurance pay in the event of a car accident? Why is my Offside rear brake recording little or no effort? Can you be liable if the other car hit yours? How and why friction is cut down in a car engine? What companies do car insurance for a learner driver? You open the door convert this sentence in simple past tense? See video of Lisa Lopes car crash? What made James Dyson famous? What is carmax? How do you remove the glove box on a 2007 landcruiser? The type of two-stroke engine that uses a spinning plate with a hole in it to control the flow of fuel to the cylinder is called? where could i take the insurance adjuster license in the next couple of day in florida along with an exactimate class? Where do cars go after the junk yard?

Related Questions

What is the policy regarding FHA loan prepayment penalties?

FHA loans do not have prepayment penalties, meaning borrowers can pay off their loans early without incurring any additional fees.

Does New York have prepayment penalties for auto loans?

Yes of course they do.

Are there any home equity loans available that do not have a prepayment penalty?

Yes, there are home equity loans available that do not have a prepayment penalty. It is important to carefully review the terms and conditions of the loan agreement to ensure that there are no penalties for paying off the loan early.

Does new york have a prepayment penalty on auto loans?

no

What are loan prepayment tenure for home loans offered by banks in UAE?

The loan prepayment tenure for home loans in the UAE varies depending on the bank's policies and the borrower's agreement. Prepayment terms usually include minimum repayment periods before prepayment penalties decrease or are waived. Some banks may impose charges for early settlement, especially in the initial years of the loan. For specific prepayment terms and conditions, refer to the details provided by your chosen bank or consult. Read This Guide for better understanding Home loans in UAE: propertyfinder.ae/blog/home-loans-in-uae

Can car loans be paid off early?

It is possible to pay of car loans early, however you need to make sure that you do not have to pay for prepayment penalties if you decide to go this route. Some loans will make you pay extra for trying to pay it off early, so just double check that.

What is the prepayment penalty policy on FHA loans?

FHA loans do not have a prepayment penalty policy, meaning borrowers can pay off their loan early without incurring any additional fees.

How soon can a mortgage be refinanced?

You can refinance your mortgage anytime you want to. There is no minimum time before you can refinance. That being said, you do need to be aware of any "prepayment penalties" or clauses. Some loans ( especially sub prime ) will have a prepayment penalty. If you refinance your existing loan before that pre payment period is over then you have to pay the prepayment penalty. These penalties can be as much as six months worth of interest. Check your original note to see if you have this penalty. If you do have a PPP then you need to weight the financial benefits of refinancing against the penalty. There are some cases where such a transaction still makes sense.

What factors should I consider when comparing fixed rates for home equity loans?

When comparing fixed rates for home equity loans, consider factors such as the interest rate, loan term, fees, and any prepayment penalties. Additionally, look at the lender's reputation, customer service, and overall loan terms to make an informed decision.

What is purpose of a prepayment penalty in a loan agreement?

To discourage borrowers from paying their loans back too soon

If a loan has a prepayment penalty attatched to it would it still be viable to retire it?

It would depend on whether the savings gained by "retiring" the loan outweighed the disadvantages posed by the pre-payment penalty. Most loans have pre-payment penalties which expire after a short period of time. On mortgage loans, the typical pre-payment penalty runs 1, 3, or 5 years.

How can one get loans in Florida?

It is not very challenging to get loans in Florida. In order to get loans in Florida, visit any bank such as Chase Bank, Dollar Bank, or Citi Bank in Florida and apply for a loan.

Resources

Top Categories

Product

Company

Copyright ©2025 Infospace Holdings LLC, A System1 Company. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Answers.