I got a 4 year plan for a loan of $6400. The interest is front loaded and nearly the same as what I borrowed, making the loan close to 12k. They did need a car title. It is what it is. But my credit has gone up swiftly, and the monthly payments are more affordable than the credit cards I consolidated were. If you pay faster, the interest is lower. I didn't have other options, so, I can't complain. I may not entirely like the deal, but at least they offered one that worked.
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Make this your last resort and pay it off as quickly as possible. Really...THIS SHOULD BE YOUR LAST RESORT. I borrowed $3,000 in October and requested a pay-off in January...it was $4,387. How is this possible??? They sold me insurance that I cancelled, they refunded the entire cost of the insurance but they still added the cost insurance coverage to the loan. Watch this...the cost of insurance is amoritzed over the life of the loan but if you cancel they send you the entire amount...trickery. I asked for written documentation of this practice, there is none and they are not willing to provide any. Please, use this as your LAST resort and decline ALL insurance coverage. This should really be illegal.
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