When you are looking for fast money, maybe you are convinced by too-good-to-be-true loan guarantees to utilize your most valuable possessionвЂ”your carвЂ”as security. These loans, referred to as automobile name loans, could be misleading and may run you a lot more than you bargained forвЂ”or your carвЂ”if you donвЂ™t repay on time.
What exactly is a motor car Title Loan?
Car title loans in Virginia are governed by the car Title Loan Act. They are high-interest loans supported by your automobile’s name as security. In the event that you skip a payment, your automobile may be repossessed.
Under Virginia legislation, a car or truck name loan term is not significantly less than 120 times or higher than year. Read More