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Posted in Auto Loans
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dramanator

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high intrest auto title loan
141% apr

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Title Loans = Predatory

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Title Loans are often financed to keep someone in a cycle of debt with high interest rates and other fees. They start out at lower interest rate such as 15% and then are continually "rolled over" on a monthly or even weekly basis. This can result in interest rates being compuded to over 300% (not a typo). Overall, Title Loans are predatory in nature and you should try to consdier all other other options before taking out a Title Loan. Here is more information from a nonprofit organization about the traps of title loans: http://blog.morethanwheels.info/2015/02/14/the-truth-behind-title-loans-video/ 

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Is that a typo or really 141 apr?

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