Quote:
Originally Posted by Che70velle
Agreed. John510, you should research into a title loan ( sometimes referred to as a title pawn) before you get anywhere close to thinking about this. These type of businesses can charge any interest rate they want, to the point of you basically never paying off the loan. Ever.
I have a nephew who lost a car this way. He paid on it for years, and finally just gave them the car. He owed more after a few years, than what he borrowed.
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Yeah, I've heard of some charging upwards of 400% interest. No, that's not a typo....400%!!
