Question
i have a question about a car title loan?
i made the big mistake of getting a title loan and so far i am paying them like i should....my due date is on the 7th of the month but the manager will not allow me to ever pay early. i leave them payments in their payment slot overnight but she always calls and said that she HAS to wait until the due date to post the payment. I have talked to someone way up high and they all say the same thing...is there any reason for this?????
3 years ago - 2 answers
Best Answer
Chosen by Asker
You would have to read the terms of the contract/agrement you signed. If it states that you can not pay before they due date then they will post it on the due date. At least by having it in before they can never tack on any additional fees for being late, it just won't post until the due date. Since these loans are usually down at the level of the Payday loans and are usually high interest. It is very likely that you will be stuck in this loan until you pay it off, and have to deal with the payment not being posted until the due date.
by OC1999
3 years ago
Asker's Rating: 
Other Answers
The only reason I can think of is that it allows them maximum interest on your loan. It has to be a company policy, it is not a law.
by Brian G- 3 years ago