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Personal Finance > Personal Finance (Other) Car title loans: Easy money or high-interest nightmare?

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For anyone thinking of pawning a car title to get quick easy money please think again.
In most places a pawn is a 30 day loan payable if full in 30 days or forfeit the vehicle. Now unless you know you have the money comming in this does not make too much sense. If you can't pay the pawn in full you can "re new" the pawn at exorbitant rates they charge. If you need the money longer than 30 days it's not smart to use them anyway. Here in Ga they can charge up to 29.99% per month!
Some of them offer free interest for first 30 days.....here is the catch, in order to get the interest free offe...

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