An auto title loan is a loan that you can get by putting car title up for collateral. These loans are usually very high interest, maybe higher than 300 % depending on where you are and who you see. Sometimes payments are set up for just the interest. If you pay more you will pay down the principal but if not you could be stuck paying on your loan forever. This type of loan is usually not advised. If you are currently in an auto title loan you should put everything you can into paying this off as soon as possible.

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