Car title loans can come at a high price







Car title loans can come at a high price



88.1 W201AO in Greenville is temporarily off the air

MaryLou, right, meets with attorney Erin Witte in Fairfax City, Va. (Michael Pope/UMOA)

MaryLou, right, meets with attorney Erin Witte in Fairfax City, Va. (Michael Pope/UMOA)

Car title lending is a relatively new and largely unregulated activity. A consumer can get quick cash from a car title lending company such as TitleMax in exchange for the title to their car.

However, on these loans, the interest rates are extremely high and, as the journalist states Michael Pope of Here Now According to a WAMU contributor, many of these companies avoid regulations designed to protect consumers by offering consumer loans.

Journalist

Copyright 2021 NPR. To learn more, visit https://www.npr.org.

Comments are closed.