These people are a deceitful!They claim to be able to give loans to people with bad credit, but that's misleading!
I applied for a $2,000 loan and was approved for up to $4,000 with a car title. I told the representative I didn't have a vehicle under my name. The rep then said my wife could co-sign since my credit wasn't high enough. She made it seem that I would have a better chance of securing the loan if our credit scores and INCOME were combined.
We went to their office, and after being made to wait a really long time, we were told the only way we could get approved was to use my wife's car title as collateral....basically a title loan. For everyone who knows...title loans are a HUGE rip-off! You borrow $4,000 and end up paying back $11,000...more than twice as much! We were then told that we could apply later when our credit improved...NEWS FLASH: If we already had good credit, we wouldn't need the loan in the first place, imagine that!
They claim to "help people with bad credit" but that's clearly not the case as my credit was the reason we were denied. So I guess you have to have "good-bad credit???" These people are like any other typical shady loan sharks. Don't waste your time with them. They lure you in telling you you're approved when you're really not.
For a $2,000 loan I was told the payments would be around $95 a month. Had I been approved, I could've and WOULD'VE easily made $300 monthly payments to pay it off faster. I totally had the means and income to afford this loan and the monthly payments, but no, it all comes down to some *** 3-digit credit score number with these people, though they claim to focus more on your income rather than your credit score. That's clearly not true, or else I would have been approved.
If you get any "pre-approval" letters from them in the mail, tear it up.These people are just after your cars and assets.
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