You Knew What You Were Getting Into

January 27th, 2009 | Tags: , , ,

Here’s a nice little tale about people who know better and still do stupid stuff:

  1. Guy is a business owner.
  2. Guy signs contract to get a loan, using vehicle as collateral.
  3. Guy gets money and re-payment schedule.
  4. Guy watches as first payment due date goes wizzing by.
  5. Guy shows up next day with part of money owed.
  6. Company is nice enough to refinance.
  7. Guy watches as second payment due date goes wizzing by.
  8. Guy gets a knock on the door–a visit from the repo-man.
  9. Guy hands over keys.
  10. Guy gets money and goes to get car back.
  11. Guy is shocked to find it is already going to auction.
  12. Guy writes complaint letter to Consumerist.

I’m still not at the point where I see what made him think that there was a different outcome.

Response to the Consumerist post on Auto Title Loans, Illegal In Most States, Even Riskier In Georgia.

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