Are easy car title loans hurting the poor?
Filed under: Government/Legal, Ownership
Auto title loans are big business in the US, but increasingly, those institutions offering them are facing accusations of predatory lending. With this type of loan, people receive money in exchange for their vehicle’s title. The funds come quickly, but they can also come saddled with interest rates of over 100 percent, along with high fees. A recent report from The New York Times examines the practice to see how it is affecting low-income borrowers across the nation.
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Are easy car title loans hurting the poor? originally appeared on Autoblog on Sat, 03 Jan 2015 12:04:00 EST. Please see our terms for use of feeds.
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