Auto title loans are riskier than payday loans, new report says

When you’re desperate for cash and run out of options, you might be willing to risk your car to save time. This is what happens with an auto title loan. You keep your car, but assign title to the lender who uses the vehicle as collateral. If you don’t pay on time, the lender can repossess your wheels. But the ...

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Auto Title Loans San Diego is a 5 Star Company on Yelp

San Diego, CA, March 12, 2015 –(PR.com)– Auto Title Loans San Diego helps people earn money without having to store their vehicle like traditional auto pawnbrokers. This industry seems to be on the mend and the title loans this company provides seem to be the most reliable of all. They currently have over 7 reviews on Yelp and they are ...

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Risky car title loans can leave owners stranded

WEST WARWICK, RI (WPRI) – Many people desperate for cash use their car as collateral for a loan, but Target 12 has learned that these high-risk swaps can leave borrowers on the hook for more than they can afford. they had negotiated. Often, borrowers have poor credit and possess little of value besides their car. Loan companies promise quick money, ...

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A New Way to Tackle the Poor: Car Title Loans

The rusty 1994 Oldsmobile that sat in an alley just outside of St. Louis was an unlikely ATM. That was until the owner of the car, a 30-year-old hospital lab technician, saw a TV commercial describing how to get money from such a car, in the form of a short-term loan. Lab technician Caroline O’Connor, who needed about $1,000 to ...

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Wisconsin Auto Title Loans agrees to $2.75 million settlement

By Gitte Laasby of Sentinel Diary UPDATE: Checks have been issued as part of the Wisconsin Auto Title Loans Inc. settlement. If you were expecting payment but did not receive one, please see this story for a possible explanation and guidance on what to do. you have to do if you have any questions. After a 10-year battle, state officials ...

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The problem with car title loans is NOT that people lose their cars | News

A stock lending store in Nashville, Tennessee (Joe Howell/Vanderbilt) According to three researchers led by Vanderbilt’s Paige Marta Skiba, the standard swipe at car title loans is a toothless claim that the deal leads to people losing their cars and then their jobs because they have no means. transportation to get to work. “Repossession affects few borrowers, and our evidence ...

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Auto title loans put borrowers’ wheels at risk: Plain Dealing

Associated press The payday loan industry is tempting cash-strapped Ohioans with an even riskier product: auto title loans. Consumers who cannot repay these expensive short-term loans could lose their car. Like payday loans, auto title loans have triple-digit annual percentage rates and fast payback times. Lenders make money by issuing a series of new loans to pay off old ones, ...

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Good option for quick cash? – Denver Post

Read in pictures: 8 ways to survive a market downturn You need money fast, but what if a bad credit rating prevents you from accessing traditional short-term loans or lines of credit? Taking out a car title loan is a way to get your hands on quick cash with no credit check and minimal income verification. It may sound simple ...

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Why car title loans are a bad idea

(AOL Cars) — Cash advances are not a new concept in American capitalism. Many people saw the ads with a guy barking, “Bad credit, no credit, no problem!” Or, “Don’t worry about credit, I own the bank!” In addition to high interest rates, these car title loans usually include a number of fees that add up quickly. Every time a ...

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