Some states allow people to take out car title loans; short-term, high-interest loans using their cars as collateral. But as Mark Strassmann reports, borrowers too often default and end up losing their vehicles.

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One of the more popular internet search phrases is “Zero Down Auto Loans”. I would image the meaning of this to mean that the consumer wants an auto loan but does not want to use any of their own cash as a down payment. Customer cash is not the only form of down, there are two others; trade value and rebates.

If you have bad credit there are only a few true no down auto loan programs, and most of these I would not recommend. The repayment terms for these no money down auto loan programs are less favorable than lender programs that require money down. (Read More…)