What about car title loans-are they honest?

Discussion in Loans started by fancy • Mar 30, 2013.

  1. fancy

    fancyMember

    Joined:
    Mar 30, 2013
    Threads:
    4
    Messages:
    62
    Likes Received:
    0
    There are hundreds of car title loan companies all over the country that simply target the lower income bracket by promising loans even with a poor credit history. I tend to think that these loans have a catch especially with regard to loan repayment. I have seen many people losing their property simply because they used it as collateral for a loan, which they ended up defaulting. Many of these companies do not talk about the issue of repossession on their websites and official documents, which means borrowers only borrow blindly without considering the specific terms of repossession. What is your take on withholding such important information that can help people make informed decisions? Have you eve taken an auto loan and what was your experience like with regard to the repayment process. Did you regret it? The companies also give very low valuations of borrowers' cars simply because they want to hedge against any incidents of borrower bankruptcy. If you default, you never get a penny from the surplus funds auction of your car. This is unfair in all aspects! What is your take on that also?
     
    #1Mar 30, 2013
    Last edited: Mar 30, 2013
  2. dorothymoreno

    dorothymorenoActive Member

    Joined:
    Oct 7, 2012
    Threads:
    26
    Messages:
    369
    Likes Received:
    8
    I have gotten a car title loan before a couple of years back they are alright, they are pretty much like any other loan you pay back in time and they don't take your car. If you think you are going to be late with your payment you just pay the interest on it and it will renew itself. It is ok, but if you don't think you will be able to pay it don't get it because they will take your car.
     
  3. Lead Gener

    Lead GenerNew Member

    Joined:
    Sep 19, 2017
    Threads:
    0
    Messages:
    5
    Likes Received:
    0
    i will try this. Thank you!
     
  4. David Moore

    David MooreNew Member

    Joined:
    Dec 11, 2018
    Threads:
    0
    Messages:
    1
    Likes Received:
    0
    Yes, Recently i have taken a car title loan from Canadian Equity Loans situated in Canada. I got the money within 15 minutes with easy and fast approval. There staff assist you in finalizing the loan with lowest interest rates and the best customer service. They are accepting applications 24 hours 7 days a week call them at toll free number 1-844-586-6311 or apply online.
     
  5. slink

    slinkNew Member

    Joined:
    Dec 15, 2018
    Threads:
    0
    Messages:
    2
    Likes Received:
    0
    Not always. There are sometimes hidden fees and % after some period of time. Find a proper calculator and double check everything before signing the papers. Sometimes it is cheaper to take a loan from bank or 3rd party companies, rather than directly from car dealers.
     
Loading...
Similar Threads - title loans honestForumDate
The Safest Website For Online LoansLoansNov 10, 2017
Online LoansLoansApr 24, 2017
Acceptable Percentage On LoansLoansFeb 4, 2017
No More Usurious LoansLoansJan 15, 2017
Car Title Loans - Don't do it!LoansJun 10, 2012