Oregon Car Loan Industry

The national car loan title industry is running a string of ads to try and frighten consumers into believing that car title loans actually save lives. The campaign is brought to residents by Northwest Title Loans, and is so absurd it actually has a car loan saving a woman’s life. They are trying to show that a senior citizen was unable to pay for her monthly insulin medication, so she turned to the car loan industry to get her a title loan so that she could buy her medicine.

However, the reality of the situation is that if you really needed that medicine there are about a hundred different places you could go to get it before you went to a car loan title place and paid 300% interest on the loan that “saved your life.” They are trying to force people into believing that if they don’t support the auto title loan industry that lives will be lost. The only thing that will be lost is the auto title loan jobs.

Poorer, less educated people are usually the ones getting these loans, and they are taken advantage of by the industry. They pay high interest rates, and end up paying back three times what they borrowed. They end up in their cars being repossessed quite often, and then the people are without their money and their cars. Then the next month they have even less money because they are trying to pay off these outrageous loans.

The loan industry is now even bribing or coercing customers to call their state leaders to support the loan industry. Callers have admitted to receiving bribes in the form of Starbucks gift cards to call, or they are not given their loan unless they call. Both intimidation factors only goes to show you what kind of people they really are.

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