Auto name loan adverts gloss on the risks: Plain Dealing

Auto name loan adverts gloss on the risks: Plain Dealing

CLEVELAND, Ohio — “Got your mo-ney, your mo-ney,” a woman sings as she clutches handfuls of bills. A person’s vocals booms, “Turn your vehicle into money!”

Automobile title loan providers promote greatly to persuade cash-strapped Ohioans to borrow on their paid-off automobiles, but exactly what you may not hear in those commercials is the fact that annualized rate of interest in the loans is 300 per cent or even more. Read more