Pink Slip Loans Worse Than Payday Loans
Pink Slip Loans Worse Than Payday Loans
Pink slip loans are a financial last resort in the same vein as payday loans. They work in much the same fashion, offering a borrower a sum of money over a very short span of time at a high interest rate. Unlike payday loans, many pink slip loans do not require a fee. However, this is because they effectively lien the car against the loan. If the loan is not repaid, the car is taken.
This changes the dynamics of the loan significantly. In some ways, this makes them arguably less risky, but … Read the rest