Terms of Use
Capitol Title Loans Terms of Use
Welcome to our website. If you continue to browse and use this website you are agreeing to comply with and be bound by the following terms and conditions of use, which together with our privacy policy govern Capitol Title Loans relationship with you in relation to this website. The term ‘COMPANY’ or ‘us’ or ‘we’ refers to the owner of the website whose registered office is 772 Pulaski Highway, Bear DE 19701. The term ‘you’ refers to the user or viewer of our website.The use of this website is subject to the following terms of use:
- The content of the pages of this website is for your general information and use only. It is subject to change without notice.
- Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and materials found or offered on this website for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law.
- Your use of any information or materials on this website is entirely at your own risk, for which we shall not be liable. It shall be your own responsibility to ensure that any products, services or information available through this website meet your specific requirements.
- This website contains material which is owned by or licensed to us. This material includes, but is not limited to, the design, layout, look, appearance and graphics. Reproduction is prohibited other than in accordance with the copyright notice, which forms part of these terms and conditions.
- All trademarks reproduced in this website which are not the property of, or licensed to, the operator are acknowledged on the website.
- Unauthorized use of this website may give rise to a claim for damages and/or be a criminal offence.
- From time to time this website may also include links to other websites. These links are provided for your convenience to provide further information. They do not signify that we endorse the website(s). We have no responsibility for the content of the linked website(s).
- You may not create a link to this website from another website or document without COMPANY’s prior written consent.
- Your use of this website and any dispute arising out of such use of the website is subject to the laws of the State of Delaware.
*DISCLOSURE: This is a solicitation for a title loan. This is not a guaranteed offer and is subject to manager’s approval and a complete and approved application. Amount of loan subject to vehicle evaluation. Results and actual loan amounts may vary. Certain limitations apply. Terms and conditions contained in the contract between the borrower and Capitol Title Loans apply.
DELAWARE Title 5 Banking
2203 Licensed Lenders Regulations Itemized Schedule of Charges
5 Del.C. §2218(5) and §2231(3)
Formerly Regulation No. 5.2218/2231.0003
Effective Date: November 12, 1999
1.0 Notification – Every licensee shall furnish to every applicant, a copy of this regulation at the time when such application is made. Posting of this regulation in the office of the licensee in a place both prominent and easily visible to all potential applicants shall satisfy this requirement. An explanation as to the contents and limitations contained herein shall satisfy this requirement when transactions occur telephonically. An informational screen containing these limitations with an affirmative acknowledgement by the consumer, prior to application, shall satisfy this requirement for internet transactions.
2.0 Interest
2.1 A lender may charge and collect interest in respect to a revolving credit plan or closed end loan at such daily, weekly, monthly, annual, or other periodic percentage rate or rates as the agreement governing the plan or loan provides, or as established in the manner provided in such agreement. Periodic interest may be calculated on a revolving credit plan using any balance computation method provided for in the agreement governing the plan. Periodic interest may be calculated on a closed end loan by way of simple interest or such other method as the agreement governing the loan provides.
2.2 If the agreement governing the revolving credit plan or closed end loan so provides, the periodic percentage rate or rates of interest may vary in accordance with a schedule or formula. Such periodic percentage rate or rates may vary from time to time as the rate determined in accordance with such schedule or formula varies and such periodic percentage rate or rates, as so varied, may be made applicable to all or any part of the outstanding unpaid indebtedness or outstanding unpaid amounts. In the case of revolving credit, such rate shall become applicable on or after the first day of the billing cycle that contains the effective date of such variation. In the case of closed end loan transactions, such rate may be made applicable to all or any part of the outstanding unpaid amounts on and after the effective date of such variation. Without limitation, a permissible schedule or formula hereunder may include provisions in the agreement governing the revolving credit plan or closed end loan agreement for a change in the periodic percentage rate or rates of interest applicable to all or any part of outstanding unpaid indebtedness or outstanding unpaid amounts, whether by variation of the then applicable periodic percentage rate or rates of interest, variation of an index or margin or otherwise, contingent upon the happening of any event or circumstance specified in the plan or agreement, which event or circumstance may include the failure of the borrower to perform in accordance with the terms of the revolving credit plan or loan agreement.
3.0 Additional Fees and Charges; Limitations – If the agreement governing the plan or loan so provides, in addition to, or in lieu of, interest at a periodic percentage rate or rates permitted by Chapter 22, Title 5 of the Delaware Code, the licensee may charge and collect the following fees and charges, subject to the limitations provided below, in respect to revolving credit plans or closed end loans:
3.1 Revolving Credit – with respect to a borrower, a lender may charge, collect, or receive one or more of the following fees and charges under plans subject to the provisions of Subchapter II, Chapter 22, Title 5 of the Delaware Code:
3.1.1 periodic charges – a daily, weekly, monthly, annual or other periodic charge in such amount or amounts as the agreement may provide for the privileges made available to the borrower under the plan;
3.1.2 transaction charges – a transaction charge or charges in such amount or amounts as the agreement may provide for each separate purchase or loan under the plan;
3.1.3 minimum charges – a minimum charge in such amount or amounts as the agreement may provide for each daily, weekly, monthly, annual or other scheduled billing period under the plan during any portion of which there is an outstanding unpaid indebtedness under the plan;
3.1.4 fees for services rendered or reimbursement of expenses – reasonable fees for services rendered or for reimbursement of expenses incurred in good faith by the licensee or its agent in connection with such loan, including without limitation, commitment fees, official fees and taxes, premiums or other charges for any guarantee or insurance protecting the licensee against the borrower’s default or other credit loss, or costs incurred by reason of examination of title, inspection, recording and other formal acts necessary or appropriate to the security of the loan, filing fees, attorney’s fees and travel expenses. In the event a borrower defaults under the terms of a plan, the licensee may, if the borrower’s account is referred to an attorney (not a regularly salaried employee of the licensee) or to a third party for collection and if the agreement governing the revolving credit plan so provides, charge and collect from the borrower a reasonable attorney’s fee. In addition, following a borrower’s default, the licensee may, if the agreement governing the plan so provides, recover from the borrower all court, alternative dispute resolution or other collection costs (including, without limitation, fees and charges of collection agencies) actually incurred by the licensee;
3.1.5 overlimit charges – a charge in such amount or amounts as the agreement may provide, for each daily, weekly, monthly, annual or other scheduled billing period under the plan during any portion of which the total outstanding indebtedness exceeds the credit limit established under the plan;
3.1.6 delinquency charges – a late or delinquency charge upon any outstanding unpaid installment payments or portions thereof under the plan which are in default; provided, however, that no more than 1 such late or delinquency charge may be imposed in respect of any single such installment payment or portion thereof regardless of the period during which it remains in default; and provided further, however, that for the purpose only of the preceding provision all payments by the borrower shall be deemed to be applied to satisfaction of installment payments in the order in which they become due;
3.1.7 returned check charges – a returned check charge may be assessed to consumers, in such amount or amounts as the agreement may provide, provided the amount(s) of such charges are customary and reasonable for checks that are returned unpaid;
3.1.8 termination fees – a charge in such amount or amounts as the agreement may provide to terminate a revolving credit plan;
3.1.9 charges incurred in connection with real estate secured transactions – in the case of revolving credit secured by real estate such additional charges as outlined in item 3.3 of thisregulation may also be collected within the limitations stated therein.
3.2 Closed End Credit – with respect to a borrower, a lender may charge, collect, or receive one or more of the following fees and charges for loans subject to the provisions of Subchapter III, Chapter 22, Title 5 of the Delaware Code:
3.2.1 fees for services rendered or reimbursement of expenses – reasonable fees for services rendered or for reimbursement of expenses incurred in good faith by the licensee or its agent in connection with such loan, including without limitation, commitment fees, official fees and taxes, premiums or other charges for any guarantee or insurance protecting the licensee against the borrower’s default or other credit loss, or costs incurred by reason of examination of title, inspection, recording and other formal acts necessary or appropriate to the security of the loan, filing fees, attorney’s fees and travel expenses. In the event a borrower defaults under the terms of the loan, the licensee may, if the borrower’s account is referred to an attorney (not a regularly salaried employee of the licensee) or to a third party for collection and if the agreement governing, or the bond, note or other evidence of, the loan so provides, charge and collect from the borrower a reasonable attorney’s fee. In addition, following a borrower’s default, the licensee may, if the agreement governing , or the bond, note or other evidence of, the loan so provides, recover from the borrower all court, alternative dispute resolution or other collection costs (including, without limitation, fees and charges of collection agencies) actually incurred by the licensee;
3.2.2 deferral charges – a deferral charge may be assessed to a borrower in accordance with an agreement to permit the borrower to defer installment payments of a loan;
3.2.3 delinquency charges – if the agreement governing the loan so provides, a late or delinquency charge may be imposed upon any outstanding unpaid installment payment or portions thereof under the loan agreement which are in default; provided, however, that no more than 1 such delinquency charge may be imposed in respect of any single such installment payment or portion thereof regardless of the period during which it remains in default; and provided further that no such delinquency charge may exceed 5% of the amount of any such installment or portion thereof in default;
3.2.4 returned check charges – if the agreement governing the loan so provides, a returned check charge may be assessed to consumers, for checks that are returned unpaid provided the amount(s) of such charges are customary and reasonable;
3.2.5 charges incurred in connection with real estate secured transactions – in the case of closed end credit secured by real estate such additional charges as outlined in item (3)(c) of this regulation may also be collected within the limitations stated therein.
3.3 Real Estate Secured Transactions – with respect to a borrower, a lender may charge, collect, or receive one or more of the following fees and charges subject to the limitations herein, for loans subject to the provisions of Subchapters II (Revolving Credit) and III (Closed End Credit), Chapter 22, Title 5 of the Delaware Code when such loans are secured by real estate:
3.3.1 loan origination points – points charged to the borrower on the lender’s behalf for any purpose other than to reduce the periodic interest rate applicable to the mortgage loan may not exceed 10% of the principal amount of the loan. Such points may be deducted from the gross proceeds of the loan. For purposes of this regulation “gross proceeds” is the amount financed as defined in Federal Reserve Regulation Z;
3.3.2 loan discount points – points charged to the borrower as a function of rate for the purpose of reducing the periodic interest rate applicable to the mortgage loan. Such pointsmay be deducted from the gross proceeds of the loan;
3.3.3 property appraisal fees – property appraisal fees shall be limited to the amount paid to a third party for such appraisal and shall be limited to those amounts that are customary and reasonable;
3.3.4 credit report fees – credit report fees shall be limited to the actual cost of the report if paid to a third party, not an employee of the lender or affiliate. Such amounts shall be customary and reasonable;
3.3.5 mortgage loan broker compensation fees – mortgage loan broker compensation may be deducted from the gross proceeds of the loan. Such amounts shall reasonably reflect the value of the goods, services and facilities provided;
3.3.6 tax certification and service fees – fees for agreements to provide certification of the current tax status of the property as well as fees for ongoing monitoring and notice to the lender of all tax and improvement lien payments as they become due shall be limited to those amounts actually expended for such purposes. Such amounts shall be customary and reasonable;
3.3.7 flood hazard certification or determination fees – determination fees may be charged for determining whether the property is or will be located in a special flood hazard area. This fee may also include the cost of life-of-loan monitoring. Such amounts shall be customary and reasonable;
3.3.8 title abstract/search/examination and title insurance premiums – title insurance and/or cost of a title certificate, search, examination and binder shall be limited to those amounts actually expended for such purposes. Such amounts shall be customary and reasonable and may, at the borrower’s discretion, include owner’s coverage in addition to lender’s coverage;
3.3.9 legal fees – legal fees incurred in securing or closing a loan shall be limited to amounts actually paid to an attorney not in the employ of the lender, its parent, or affiliate, and such charges shall not exceed those which are customary and reasonable;
3.3.10 recording/satisfaction fees – recording/satisfaction fees shall be limited to those actually expended by the lender to any governmental authority for protection of interest in collateral tendered. The State Bank Commissioner may approve the payment of alternative fees for this purpose provided the amount of said fee (payable by the borrower) shall not exceed the amount which would be payable to any governmental authority for protection of interest in collateral tendered;
3.3.11 property survey fees – property survey fees to obtain a drawing that delineates the exact boundaries of a property, including lot lines and placement of improvements on the property, shall be limited to those amounts actually expended for such purposes. Such amounts shall be customary and reasonable;
3.3.12 pest inspection fees – pest inspection fees to cover inspections for termites or other pest infestation on the property shall be limited to those amounts actually expended for such purposes. Such amounts shall be customary and reasonable;
3.3.13 fees incidental to loan closing – other fees and charges including but not limited to: odd days interest, hazard and mortgage insurance premiums, escrow reserves, lender’s inspection fees, mortgage insurance application fees, assumption fees, underwriting fees, document preparation fees, settlement or closing fees, notary fees, funding fees, fees for lead based paint or other inspections and overnight mail fees may be charged and such amounts shall be customary and reasonable;
3.3.14 prepayment penalties – a charge in such amount or amounts as the agreement so provides imposed in connection with the payoff and termination of a revolving credit plan or closed end loan secured by real estate;
3.3.15 notwithstanding the provisions of item 3.3 of this regulation, Licensed Lenders who are making mortgage loans pursuant to the rules, regulations, guidelines and/or loan forms established by the State of Delaware or federal governmental or quasi-governmental entity (including, without limitation: the Federal Housing Administration, the Department of Veterans Affairs, the Farmers Home Administration, the Government National Mortgage Association, the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation) shall be permitted to charge and collect any fees, charges or sums prescribed to be charged and collected in connection with a mortgage loan originated pursuant to a lending program conducted or supervised by any such entity.
Scalessa-Fischer LLC dba Capitol Title Loans is licensed by the Delaware State Bank Commissioner to engage in business in this State under license numbers 010266, 012026 and 010954. All Licenses expire 12/31/2016.
DELAWARE ITEMIZATION OF CHARGES FOR TITLE LOANS
Per the regulations of the Delaware State Bank Commissioner please see Delaware regulations: Administrative Code Title 5: 2200 : 2203 Schedule of Charges 5 Del.C. §§2218(a) and 2231:
You have the right to rescind this loan, for more information visit: http://delcode.delaware.gov/title5/c022/sc05/index.shtml
Capitol Title Loans Rate & Fee Schedule as of February 18, 2016
Title Lien FEES The company collects a lien fee of $55.00 for Delaware titles. If you have a title from a different state you will be charged that state’s lien fee.
Returned Check Fee: $25.00
Repossession Fee: At Our Cost
Collection Fee: At Our Cost
Storage Fee: $25.00 per day
Lock Smith Service: At Our Cost
Late Fee: Any required payment not paid in full within ten (10) days of the due date will be assessed a delinquency charge not to exceed five percent (5%) of the unpaid amount of the payment.
Annual Percentage Rate:
The annual percentage rate ranges from 95% to 360%.
Reimbursement For Expenses Incurred: The company may charge court, alternative dispute resolution, or other collection costs incurred by the company as a result of a default by the borrower. In addition, any and all reasonable costs associated with repossession and sale that the company incurs will be added to the borrower’s account, as allowed by law.
Arbitration Agreement
Any and all disputes arising from or relating to the Agreement between us (hereinafter, the “Agreement”) or to any issue or dispute that may arise between you and us (i.e., the Lender)[1] must be brought in binding arbitration. Arbitration shall be the exclusive method of resolution of all such disputes, and the award of the arbitrator following such arbitration shall be final. The only exception to this arbitration requirement is that claims solely for injunctive relief may be brought in court; such claims for injunctive relief may be brought only in federal or state court in the state of Delaware.
Arbitration may only be brought hereunder before the America Arbitration Association, the National Arbitration Forum, or another nationally recognized arbitration association. Arbitration will take place within the state of Delaware, at a location mutually agreeable to the parties. Arbitration shall take place before a single arbitrator, to be agreed upon jointly by the parties, and the arbitrator shall be either a lawyer with more than ten years’ experience or a retired judge. If the parties are unable to agree upon an arbitrator, then the arbitration organization shall select one for the parties (with the qualifications set forth above). At the arbitration, the law of the state of Delaware shall apply. Discovery shall be limited in connection with any arbitration hereunder, and the only discovery permitted will be that related to your loan and amounts owing in connection therewith. All materials from any arbitration, including but not limited to discovery from such arbitration, testimony at a deposition or arbitration hearing, filings in such arbitration, and any arbitration award, shall remain strictly confidential; the parties shall not publicly disclose any such arbitration materials except to the extent required by law.
The Agreement between the parties to which this Arbitration Agreement applies involves a transaction affecting interstate commerce, and this Arbitration Agreement and arbitration pursuant thereto shall therefore be governed by the Federal Arbitration Act , 9 U.S.C. §§ 1-16. This Arbitration Agreement shall survive any default by you, the repayment by you of all amounts borrowed from us, and any bankruptcy by you (to the extent permitted by law). If any portion of this Arbitration Agreement is deemed invalid or unenforceable, it shall not invalidate the remaining portions of this Arbitration Agreement, which are separable. The judgment of a state or federal court in Delaware, and no other, shall be entered upon an award pursuant to arbitration under this Arbitration Agreement. Any post-arbitration proceeding seeking to confirm, vacate, or modify an arbitration award shall only be brought in state or federal court in the state of Delaware.
PURSUANT TO THIS ARBITRATION AGREEMENT, NEITHER YOU NOR WE WILL HAVE THE RIGHT TO LITIGATE ANY CLAIM IN COURT (APART FROM CLAIMS FOR INJUNCTIVE RELIEF) OR HAVE OUR CLAIMS HEARD BY A JURY.
YOU AGREE NOT TO PARTICIPATE IN ANY CLASS ACTION OR CLASS ARBITRATION, EITHER AS A REPRESENTATIVE OR AS A MEMBER OF ANY CLASS OF CLAIMANTS PERTAINING TO ANY CLAIM. UNDER THIS ARBITRATION AGREEMENT, YOU ARE GIVING UP YOUR RIGHT TO PARTICIPATE IN ALL CLASS PROCEEDINGS. TO BE CLEAR: NO CLAIMS CAN BE LITIGATED OR ARBITRATED ON A CLASS-WIDE BASIS. CLAIMS BROUGHT BY YOU MAY MOREOVER NOT BE JOINED WITH CLAIMS BROUGHT BY ANY OTHER PARTY.