LEGAL
Required disclosures
License
Luxury Asset Loans operates under the California licensed-lender network. License is current, in good standing, and verifiable through the California Department of Financial Protection and Innovation.
Loan terms — required California disclosures
- Loans are made under California Financial Code §21000 et seq.
- Three-month term, renewable upon payment of the monthly finance charge.
- Monthly finance charge is set by California statute for loans up to $2,500 and is negotiable above $2,500. The specific charge is disclosed in writing on the signed loan ticket before funds are advanced.
- Loans are non-recourse. If the loan is not repaid, the collateral asset is sold to satisfy the obligation.
- Surplus over the loan balance and accrued charges is returned to the borrower per California law.
- The borrower has the right to redeem the asset at any time within the loan period or any renewal period by paying the principal plus accrued finance charges.
Real estate / property loans — separate authority
Real estate loans are originated under separate California lending authority — different from the asset-collateral loans that govern our personal-property network. Real estate loans have different terms, timelines, and disclosure requirements. See our property loans page for product detail; full disclosures are provided in writing at signing.
Asset purchases — buy-side service
We offer outright purchase of qualifying assets in addition to lending. Purchase offers are made at wholesale-dealer levels, are non-binding until both parties sign a purchase agreement, and are subject to asset-class restrictions. Purchase transactions are recorded as required under California secondhand-dealer reporting rules where applicable.
Out-of-state advertising
This website is accessible nationwide. All loan origination occurs in California. Out-of-state residents must travel to California with the collateral asset for in-person appraisal and signing. Statements regarding loan availability in non-California states refer to the geographic origin of clients we serve, not to the legal jurisdiction of loan origination.
Anti-money-laundering
We are subject to federal Bank Secrecy Act and FinCEN reporting requirements, including Currency Transaction Reports for cash transactions over $10,000 and Suspicious Activity Reports as required by law.
Insurance
Collateral assets are insured at full appraised value while in our possession, at our cost. Insurance is provided by carriers with A+ or better A.M. Best ratings.