Overhaulin'

Car Title Loan - how much will it cost to pay back?

I'm really low on $$ right now - I cant even buy groceries and other essentials. I'll have a little extra $$ in the next couple months, so I am thinking about taking out a title loan on my car - I havent spoke with the Title Loan company yet, but I'm wondering about how much it will cost if I get a $250 loan? Does anyone know about how much the pay back amount will be? I've never got one before, but i know they can be spendy, especially if you dont pay them off right away. I am really needing the money, so I am really considering it as I have no other options a. So, $250 is about what I need, should I expect to pay back at least $300? Thanks everyone for your advice - I called the title loan company and actually, it isnt as bad as i thought - for a $250 loan, to pay it off would be about $312 (25% of loan). Still a lot of $$, but desperate times call for desperate measures. Thanks everyone for the info though, I do appreciate it...

Public Comments

1. you would be very lucky to pay back only $300.00 STAY AWAY FROM THAT PLACE !!! I have heard that the govt is going to shut down those places because they charge soooo much that most people lose their car. do not go there !!! I understand some are very illegal because they charge so much. ! call your food stamp office and ask for emergency food stamps or call salvation army , they will give you food.
2. If you borrow $250 you'll probably be paying back $500....this is a bad idea. Eat Ramen Noodles if you have to, or borrow a few bucks from a friend or family member.
3. From the places that are around here, they will have a very high interest rate, maybe that is why that have so many cars for sale.
4. double or more dont do it find something you can sell or pawn you have a much better chance
5. Let me see if I understand - you are going to risk losing your car for a $250 loan? I normally wouldn't suggest this to anyone, but just go to a payday advance place. You won't have to put up your car as security.
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