Originally Posted by kane

The way I understand it (and I'm not expert, but I used to work with someone that used these things from time to time) they don't normally loan that much unless you have a really nice car and typically you have to repay it within a very short time frame. Part of the reason they do this is so you won't default. For example if your car is worth 8K and you borrow $500 you will bust your ass to pay it back because you don't want to lose your car for that small of a loan.