Be aware that this company adds a car club membership at a cost of $90 thru a company called Continental Car Club to the fees in your loan without informing you. They do not tell you they are signing you up for a membership when you apply for a loan. Nor do they tell you they are adding $90 on top of your loan as well as charge you interest on the $90 for the life of the loan.
I was told they add it to ALL their loans and that anyone can refuse it. However, I have no idea how one is to refuse something they aren t even aware they purchased! In addition, how is a person ever suppose to be able to use the services provided by their membership to Continental Car Club if they are unaware they are a member?
This membership has nothing, whatsoever, to do with your loan. Its a scam fee!
Here is my advice, first do not use this or any company who does these high interest loans to begin with. But if you must, then tell them you do not want the car club membership (even if they haven't told you they are signing you up... They are!). So just tell them when you apply for the loan you would like to waive the car club membership. It will not prevent you from getting a loan! This is simply a way to get around Tennessee laws on the fees they can charge. You do not have to pay this fee! It is against the law for them to make this fee mandatory. If they refuse to waive it, call the Tennessee Department of Financial Services and report them!
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