Think you need a title loan? Think again!
I am writing this so that other people are not put in the same position I am in right now.
If you are in a bind, please do not EVER go to a title loan company and hand over your title for cash! You will LOSE your CAR, and they are allowed to take it after being even a day late on your payment.
To better show you just exactly how much interest they charge, I personally had an emergency and borrowed $1,000.00. They handed me a check in less than 10 minutes, without calling to check to see if I even had a job and could afford the payments. All they wanted from me was a signature and the title to my car.
WHY? Because the car is worth more than the loan. They want you to default so they can sell your car, and make a profit after they take it from you! GOOD FOR THEM, VERY BAD FOR CONSUMERS!
I was desperate, I am a single mom, I don't have great credit, and when you need to feed your child and pay your rent, a title loan seems like a good idea! ITS NOT!!!
I needed this company to work with me. I could not afford the payments anymore. Now they have my car and if I dont come up with another $2,500.00, they will sell my car at an auction.
This company is a predatory lender, they do give loans to people who have no credit, yes, but I don't think charging over $5,000.00 in the end on a $1,000.00 loan should be legal.
DO NOT EVER, EVER, GO TO A PAYDAY LOAN OR A TITLE LOAN COMPANY!
It will put you into an endless cycle of debt!
I can't get to work now so it wont be long before I lose the roof over me and my little girls head.
THEY DONT CARE! They want their money and thats all that matters. dont lose your car like i did!
the rates are outrageous! They are robbing people!
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