Automobile name loans face interest caps in Georgia Senate bill

Automobile name loans face interest caps in Georgia Senate bill

The Newnan Times-Herald

ATLANTA – The training of pawning one’s automobile name to produce ends fulfill might get a bit more restrictive in Georgia under a bipartisan bill filed when you look at the 2020 session that is legislative.

Utilizing a person’s car as security, auto-title loans offer tiny amounts of cash to cash-strapped borrowers quickly, with no need for a credit check. The loans, that may carry high-interest rates to the triple digits, can price borrowers their cars and the stability of every unpaid financial obligation in the function of standard. Continue reading “Automobile name loans face interest caps in Georgia Senate bill”