Consumer title loans, made in exchange for title to a car if the borrower defaults, are also called predatory loans and are illegal per se.

Name: Consumer title loans, made in exchange for title to a car if the borrower defaults, are also called predatory loans and are illegal per se.
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Consumer title loans are legal but may be considered predatory due to high interest rates and harsh terms for borrowers. However, laws vary by state regarding regulations and restrictions on these types of loans.

Consumer Title Loans, Made in Exchange for Title to a Car