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Automobile Title Loans: “There to Rip You Off”

What’s your psychological image of the company which earns a 300% annualized interest rate?

Did somebody state, “shady figures chilling out for a road part with a big wad of bills”?

Whom stated, “guys driving around in vehicles with dark windows” that is tinted?

What about, “typical loan sharks”? Possibly most of the above?

Can there be a genuine company in our country today that will be in a position to charge a 300% annualized interest rate? Well, i assume that could be determined by how one describes genuine. I believe it could be safe to state that if you should be employing someone who charges a 300% annualized interest, you may wish to be CAREFUL.

Which type of company has these form of prices? Car-title loans. Actually? Just how do these work? Let’s ‘lift up the bonnet’ and ‘check out the engine’ with this industry.

Because of the guts for Public Integrity for doing a bit of fabulous investigative work and sjust howcasing how people have to be extremely careful in ‘going down this road’ or elsewhere they could end up ‘taking the bus’. Continue reading