Thus, the answer to the question, “can I be arrested for default on a payday loan” lies in your own motives. If they are honest and you have not committed any sort of fraud in obtaining your payday loan, then you will not be arrested if you default.
Negotiate and settle on an exact price for the car before you discuss financing. Sometimes dealers will give you a break on one aspect of a car purchase–say, a low-rate loan–but then increase up the price of the car to compensate. Beth Kobliner, Get a Financial Life (1996)
Be wary of financing options that require “no money down” or a very low down payment. A low down payment increases the size of the loan you will need and the amount of interest you will pay over the life of the loan. Beth Kobliner, Get a Financial Life (1996)
If you are interested in buying a new car, before you set foot in a dealership, check with a credit union and at least two banks. In some cities, the difference among bank rates can be more than four percentage points.