Interest Rate Laws in Missouri

February 4, 2018

The interest rate laws for the state of Missouri are the responsibility of the Department of Insurance, Financial Institutions and Professional Registration. This part of the Missouri government has compiled a document titled the “State of Missouri Consumer Credit Laws,” which discusses all the details that go into legislating different types of funding. Car title loans, or auto title loans, are one of the specific types of funding covered in this set of laws.

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Registration Loan vs. Payday Loan

February 3, 2018

A registration loan is a way to receive funding for a loan using the registration to your vehicle as collateral. Registration loans are very similar to payday loans. A payday loan is a short-term, high interest loan that is typically expected to be paid back in full at the time of the borrowers next payday, hence the name payday loan.

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What is a Lien on a Missouri Title Loan?

February 2, 2018

When you get an auto title loan, the lender will typically sign onto your vehicle title as a lien holder. This means that if you happen to default on your title loan, the lender cannot come after your personal finances. However, this does mean that your car will most likely be repossessed from the lender.

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