Good day awesome Credit Boards community
Yesterday I read an article on this meter here and it got me thinking. I've checked around the internet and and the info differs. As Far as I understand you can't face a lawsuit for not paying off car title loans. The lender only has the power to take possession of your vehicle. But no one tells what happens if the lender cannot get access to the vehicle. For example - if I crash the vehicle, will I face the lawsuit from the insurance company or from the lender in order to cover up the expenses to repair it?
My main plan is to taking a car loan right now and invest n a small business. The citation with the pandemic are getting worse with every day and it looks like my current employer will be forced to lay off some people. I need to act in advance. I've also checked this locator and there is bunch of different lenders with different measurements and interest fees. I've never done this before so I'm looking for some quality advice on the subject. Maybe someone even done this before and could share his experience or at least lender name. It would be much appreciated