Still paying for a car title loan? Here’s how to get $4,000 to pay it off
When Rakesha Hill’s car broke down, she didn’t have $700 laying around to pay a mechanic. The Mesa mother of three earns a modest salary working for a charity that helps homeless families.
Hill, 39, discovered what many consumers do. The interest rate was so high, she had trouble paying off the loan.
Title loans are a common option
Four in 10 Americans said they would have trouble covering a surprise $400 expense, according to a Federal Reserve study last year. A survey estimated roughly two in 10 adults have no emergency savings at all. …
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