Soverign Lending Title Loan America Fast paced internet scam, docs come over email and I've repeatedly asked for a copy. No mention of "balloon payment" in the last month of the loan. For a $2500 loan, it's cost me over $8177.00 and I still have balloon payment due of $3200!!! WHAT? Floria Internet
Decided to take a title loan during desperate times. My car is worth $34,000. The loan I took was for $2500.00
Was called on the phone and had loan docs emailed to me where they were explained very fast and not in full detail. For a $2500.00 loan, I've paid $8177.00 in interest and was made aware that in order to "pay off" this loan I would need to complete a balloon payment of $3200.00.
Who in their right mind would agree to pay $11,400 for a $2500.00 loan? Total scam and rip off. They've more than made their money off me but I'm held hostage unless I want my car repossed.