Some Things You May Want to Know if You Take out a Loan Against Your Vehicle
Car title loans have become very popular constructions since the financial crisis. We still associated them with a certain demographic of people, however, as we do with payday loans. People think it is only those on low incomes and those who have bad credit who are interested in them. In reality, however, the picture is not as clear as that.
A study was done in Cook County, IL in 2005 to see what really goes on with car title loans. Further studies were conducted since then in different parts of the country, and they all showed similar results. Let’s take a look, therefore, at the real truth behind title loans.
Title Loans Facts and Figures
In Illinois, some 260 storefronts existed offering car title loans, offered by 63 different companies. Interestingly, public transportati...





