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 TELEVISION AD IN THE WASHINGTON, D.C., METRO AREA HAS attractive, intelligent-looking young adults saying, “I needed extra cash to help me get by, so I took my car title to Blank Blank, and they gave me the money I needed to live the lifestyle I deserve.”
What they don’t say is that now Blank Blank holds the title to their car, effectively owning their vehicle. If they default on their loan, they lose their car. They also fail to mention that until they pay off their loan, they’ll be paying interest rates that border on being larcenous.
With an economic recovery still a long way in the future, we have to avoid making bad situations worse. Rather than »
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