Auto Title Loan $ , Payments Cost Disclosure - LoanStar Title ...
_L_o_a_n__S_t_a_r_T_i_t_le__L_o_a__n_s__________________________________________
Auto Title Loan $600 , 5Payments
Cost Disclosure
You can lose your car.
If you miss a payment or make a late payment, your car can be repossessed.
Cost of this loan:
Borrowed amount (cash advance)
$ 600.00
Interest paid to lender
10.0
Fees paid to
LoanStar Title Loans
(includes a one-time $33 title fee)
Payment amounts
(payments due every
30 Days
Total of payments (if I pay on time)
$ 49.47
$ 979.35 Payments #1-# 4
$ 199.17 (Final) Payment 1 #__$_832.14
$ 1,628.82
APR ZZ 382.80
dZ>oan
150 Days
If I pay off the loan in:
2 Weeks 1 Month 2 Months 3 Months
4 Months
I will have to pay interest and fees of approximately:
$ 127.39
$ 235.25 $ 435.97
$ 635.15
832.77
I will have to pay a total of approximately:
$ 727.39 $ 835.25 $ 1,035.97 $ 1,235.15 $ 1,432.77
Cost of other types of loans:
Least Expensive
Credit Cards
Secured Loans
Signature Loans
16% $1.32
30% $3.51
89% $12.52
Pawn Loans
180% $15.00
Auto Title Loans
229% $18.85
Payday
Most
Loans Expensive
410% $33.72
Average APR
Average fees & interest per $100 borrowed over 1 month
Repayment:
Of 10 people who get a new multi-payment auto title loan:
5 ? will pay the loan on time as scheduled (typically 6 months) 1 will renew 1 time before paying off the loan 1 will renew 2 to 4 times before paying off the loan 2 ? will renew 5 or more times or will never pay off the loan
This data is from 2014 reports to the OCCC.
Before getting this loan, ask yourself:
x Do I need to borrow this money? x Can I pay back the loan in full when it is due? x Can I pay my bills and repay this loan? x Can I afford late charges if I miss a payment? x Do I have other credit options?
OCCC notice:
x This company is regulated by the Texas Office of Consumer Credit Commissioner (OCCC).
x KZ, ZZZZ
x Visit occc. for more information. x This disclosure is provided under Texas Finance
Code Section 393.223.
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