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car title loan FAQ
If you default on a car title loan will this negatively affect your credit rating?
Aug 27, 2009 by ayondela1 | Posted in Credit
I've never done a car title loan before but, I'm a assuming if they take the car, the loan should be considered payment in full. Am I right?
Auto finance is what I do for a living and the answer is WRONG.
It will be considered a repossession since you did not live up to your part of the agreement. They will sell the car at auction and come after you for the balance due plus
| Aug 27, 2009
No. They sell the car and if they get less then the loan, they come after you.
Robert E. Lee | Aug 27, 2009
How to reduce interest paid on a car title loan?
Aug 31, 2008 by roseypeach | Posted in Credit
If I pay weekly on a monthly title loan for my car, will that reduce my interest? Right now the payments are astronomical monthly. I was hoping if I paid weekly it would slow the interest down...is that right?
The lesser the time interval between installments, the principal amount would reduce sooner and hence you would have to pay lesser interest because of lesser principal amount.
CuteGuy | Aug 31, 2008
How can I get a car title loan in El Paso Tx?
Oct 27, 2008 by iHaveThe1Answer | Posted in Personal Finance
I was wondering how I would go about getting a car title loan in El Paso. I've seen a few before, but can anyone recommend me to a store that is reputable? Thanks!
If you the owner of the car and looking for a loan, to use the car as collateral, look into your local Fast Cash stores. Keep in mind this is a huge ripoff because of the interest charges. I highly discourage you do this.
If you are looking
cyndee | Oct 27, 2008
What happends to a car title loan if you file bankruptcy?
Dec 16, 2007 by bniplyr3 | Posted in Personal Finance
Would I still have to pay the title loan company? Could I keep my car?
Help!
From my understanding these are your only options. Since the title loan is a secured loan then you have two choices. First, reaffirm on the debt (that means pay it back) or second, give them your car (which is the security of the loan).
Amy | Dec 16, 2007
car title loan news
Robbers strike car title loan shop
23.02.12
A business used to handing out money found itself forking over cash in a different way Saturday afternoon.
Police say armed men robbed the car title loan store on the I-35 access road at Gladstone.
The men entered the business wearing hoodies and packing a gun.
Police say they demanded cash, and after they got it they ran out of the store to a waiting getaway car.
Detectives say the men jumped in the car, and a third suspect drove them from the scene.
Police searched the area for the robbery suspects, but didn't find any sign of them.
Source: KSAT San Antonio
car title loan about
Payday lending undermines Texas
Amarillo.com - Apr 24, 2011
Predatory lending undermines cities' economic health and places a growing burden on private charities and faith-based groups to help families struggling with payday or car title debt. A survey of Catholic Charities offices found that nearly 20 percent
Government Shutdown: Uncle Sam Needs a Car Title Loan and a Co-Signer
ChicagoNow (blog) - Apr 07, 2011
Have you heard the the saying, "I've got more month than I have money?" Don't you hate being in the position of bills stacking up, creditors calling asking you the same question a week ago with you answer, "I didn't have money then and I still don't
Bankruptcy secrets 'they' don't want you to know
ABC15.com (KNXV-TV) - Apr 26, 2011
Are you a month or more behind on your mortgage payments? Is your home worth 30-50% less than what you owe on it and your mortgage lender is unwilling to negotiate? Have you recently taken out a pay day loan or title loan on your car?
Payday loan bill should be stopped
Nashua Telegraph - Mar 31, 2011
Imagine paying 300 percent interest a year on a car title loan, which breaks down to 25 percent each month. The New Hampshire Senate voted last month to make this rate legal by passing SB 57. It is reasonable for risky loans to come with higher costs,