Car title loans are one type of fast funding that carry a steep price in terms of interest and fees. These short-term, high-interest loans put you at risk for losing your car if you can’t repay them. Here’s how they work and other options to consider.
How car title loans work
Financial snafus can happen to anyone. You wind up with an unexpected medical expense. Your work hours are cut. Your washing machine breaks down. Surprise expenses or income shortfalls might have you considering getting a car title loan.
Car title lenders operate both online and out of brick-and-mortar locations. Many states don’t allow car title loans at all, and of those that do, some place bigger restrictions on the lenders than others. (więcej…)
