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Interest in car name loans drives supply

Interest in car name loans drives supply

Tony Chalfant, of Newark, borrowed $300 from a neighborhood car name loan business against their 2006 Ford Explorer per week before Christmas time.

He was three times later in repaying the cash and had finalized documents agreeing up to a penalty, Chalfant stated. The fine, at first $100, quickly rose to $1,000, then $3,500, after which their automobile had been seized immediately.

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