THE BLOG

03
Feb

Car Title Loan Contract

Posted by / Uncategorized

Ready to learn more about launching a car title loan business?

"The Loan that Puts the 'Fun' Back in Funds"

Car title loans are a fantastic financial solution for individuals needing quick cash.

They offer a fast and convenient way to obtain money without the hassle of traditional loans or credit checks.

In this blog post, we’ll explore the many benefits of Car title loans and why they’re a great option for those facing financial emergencies.

  1. Fast and Convenient Car title loans are one of the quickest and easiest forms of lending available. You simply bring in your car, and the auto title lender will evaluate its worth. If you agree on the loan amount, you receive the cash right then and there. The process is simple, straightforward, and hassle-free.

  2. No Credit Checks. Car title shop loans don’t require a credit check, making them an excellent option for individuals with bad credit or no credit history. You won’t have to worry about your credit score affecting your ability to get a loan.

  3. Flexible Repayment Options. Car title loan shops are designed to be flexible and accommodating, giving you the peace of mind you need during tough financial times. The repayment period is usually between 30-60 days, with the option to renew the loan if necessary.

  4. Low-Interest Rates. Car title loans have significantly lower interest rates compared to payday loans or cash advances. This makes them a more affordable option for those needing quick cash.

  5. Confidential and Discreet. Car title loans are confidential and discreet, which is essential for those who are private about their financial situation. You can obtain a loan without having to share your personal information with anyone other than your lender.

In conclusion, Car title loans are a fantastic financial solution for those needing quick cash. They offer fast, convenient, and low-interest loans without the hassle of credit checks or lengthy applications.

So next time you’re facing a financial emergency, consider the benefits of a Car title loan and get the cash you need to get back on your feet.

Title loans from the customer's perspective

Revving up for something new?

I’m thrilled to announce the expansion of title loan businesses across the country.

Auto title loan businesses.

This innovative approach to personal finance offers a unique advantage for those in need of fast cash.

Use your car as collateral and get the money you need in a snap.

No credit checks, no hassle.

Drive off with financial stability and peace of mind.

So if you’re ready to trade in financial stress for a revved-up financial future, let’s get started!

Learn More
21
Jan

Are car title loan businesses profitable?

Posted by / Profits, Uncategorized

Car title loan businesses can be profitable, but the profitability varies depending on the business model, local market conditions, and the specific regulations in place. These types of loans tend to have high-interest rates and fees, which can generate significant revenue for the lender.

Some states have stricter regulations on car title loans, which can limit the profitability of these businesses in those areas.

Click ME to learn more...

How do car title loan businesses earn profits?

Car title loan businesses earn profits by charging high-interest rates and fees on loans that are secured by the borrower’s car title.

The loan amount is usually a percentage of the car’s value, and the loan term is usually 30 days.

The interest rates for these types of loans can be as high as 10%+ per month, which is an annual percentage rate (APR) of around 240%.

In addition to the interest, businesses may also charge additional fees such as origination fees, late fees, and non-sufficient funds fees.

These high rates and fees can generate significant revenue for the lender!

Click ME to learn more...here
15
Jan

Bulletproof Way to Avoid Car Title Loans?

Posted by / Title Loan FAQ

Attention Car title loan lenders! there's a new kid in town!! [Link below]

As an industry expert, having launched and invested in car title loan businesses, I know that the car title loan industry generates billions of dollars in revenue each year.

For example, in Texas, nearly 26,000 car title loans were originated YTD [Year to Date].

Car Title Loan Business Loan originations in Texas

A car title loan business can be very profitable! Title loans enable consumers with poor credit to access cash fast with almost zero hassle.


Consumers borrow money using their vehicles as collateral. These types of loans are typically high-interest and have short repayment periods.


Title loan lenders typically charge their borrowers $15 – $30 per $100 borrowed. 

Title loan principals average between $500 and $5000. The term of these loans is usually 30 days. 

For example, a $1000 car title loan having a 30-day term at $20/$100 = $200 in fees. The total loan principal and fees paid by the car title loan customer equals $1200. 


It’s not uncommon for these borrowers to “extend” their loans beyond the 30-day term. [Refer to the Texas OCCC stats above.]

The interest rates – as measured by the Annual Percentage Rate [APR] – on these loans can be quite high, with some companies charging annual percentage rates (APRs) of 300% or more.

APRs are Just not the way!

But APRs don’t tell the real story. They’re a poor measurement for determining the cost and appropriateness of a car title loan! [Or a Payday Loan for that matter!] 

The truth about APRs and car title loans

The fees paid by customers of car title loan businesses can result in significant profits for a car title loan lender employing the latest 3rd-party vendors and platforms that provide:

IBV [Instant Bank Verification]

IWV [Instant Wage Verification]

A strong loan management software solution [LMS]

Various other underwriting tools, funding mechanisms, and collection systems.

It’s important to note that car title loans carry a high risk for borrowers.

Many borrowers cannot repay the loan on time and can lose their vehicle as a result.

Typically, title loan lenders accommodate their clients in every way possible to avoid repossessions! After all, lenders don’t want the vehicles. 

In Texas, the car title loan industry is regulated by the Office of Consumer Credit Commissioner (OCCC).

Lenders are required to disclose the terms of the loan, including the APR, to borrowers. The OCCC also sets limits on the amount that can be borrowed and the length of the loan. Texas car title loan lenders generally use the Texas CAB/CSO Model for offering loans online and in storefront locations.

Texas CAB-CSO How to loan money

It is important to comply with all state regulations, be transparent with borrowers and make sure they understand the terms and risks of the loan before signing any agreement.

A Dallas nonprofit offers car repairs that would otherwise drive owners into debt

Learn more about car title lending
25
Aug

Why Start a Car Title Loan Business?

Posted by / Uncategorized

How to start a successful car title loan company

Easy steps for starting a car title loans business

How to start your own car title loan company

This article is a complete guide to starting and operating an efficient and profitable car title loan business. It covers the basics of the industry to marketing strategies.

It’s your responsibility to find creative ways to stand out from your competitors to be successful. This article will provide you with some insights on how you can accomplish this.

What Criteria Do I Need To Meet To Open A Car Title Loan Company?

Opening a car title loan company is not as easy as it may seem. There are several criteria you need to meet before you can open your own car title loan company.

  • The main ones are:
  • You must be at least 18 years old.
  • You must have a valid driver’s license.
  • You must get licensed in your state.
  • You need capital [$25K minimum is recommended]
  • You don’t need a physical location

How much does it cost?

Car title loans are a type of collateralized loan. They are used to provide short-term loans for people who need money to purchase cars, pay for car repairs, or to cover other expenses.

The cost of starting up a car title loan company depends on your location and the type of business you want to start. You will need to consider the costs of getting a license, getting the necessary insurance, and setting up your office space.

1st Step? Get a car title loan from a competitor in your area.

  • Invest in a 3-ring binder to organize your car title loan project
  • Visit a car title loan location
  • Your first visit should be on a busy day
  • Watch, look, and listen
  • Take photos of licensing info and fee structures on the store walls
  • Take a photo of the State licensing authority for your state. [Hint: It;s mounted in public view!]
  • Learn all you can on this first exploratory visit. Listen to the Customer Service Representatives

2nd Step?

  • Call the State licensing authority you took the photo of. Ask about licensing a car title loan business.
  • What do you need?
  • Can you download the application?
  • Do you need a bond?
  • Must you have a store? Can you operate online instead?

3rd Step?

  • Time to get a car title loan
  • Grab your title to your car/truck/RV/boat/motorcycle…
    • Don’t have your title? Get a shill. A family member. A friend.
  • Experience the car title loan process
  • Get copies of EVERYTHING
  • Record the process on your phone. [Surreptitiously]
  • Borrow the minimum $$$ possible.
  • Leave the store
  • Return to your 3-ring binder and write down everything you can about your experience

To be continued.

Eventual Conclusion? The Benefits of Starting Your Own Car Title Loan Company

Start your own car title loan company, and you will have the opportunity to make a lot of money. You will be able to provide financial assistance to people who need it while making a hefty profit.

Car title loan lenders typically charge from $10 per $100 loaned each month to $35 per $100 loaned. For example, in Texas, the average is $20 to $35 per $100. In Florida, it’s $10 per $100 loaned PLUS add-on fees like insurance, inspections, DMV fees… This will depend on your state laws. [Even if your car title loan operation is an online model.]

It is not that hard to start your own car title loan company. All you need is a few thousand dollars and some patience.

Shameless Plug! To jumpstart your entry into launching a successful car title loan business, grab a copy of our Manual: ” How to Loan Money to the Masses.” We thoroughly cover -500+ pages – payday loans, car title loans, installment loans…

Your Investment? $297.00 Immediate PDF delivery to your Inbox.


Upcoming topics we’ll discuss?

How to Create an Effective Marketing Strategy for a Start-Up Car Title Loan Company

The ABCs of Successfully Running a Successful Car Title Loan Business

What are the Benefits of Owning Your Own Car Title Loans Company?

6 Tips on the Best Ways to Make Money in Your Automobile Titles Loan Business

How to Start a Car Title Loan Business: Handy Tips for Success

Introduction: What is a Car Title Loan?

Why You Should Consider Starting a Car Title Loan Business

How to Get Started with Your Car Title Loan Business

Marketing Your Car Title Loans Company & Building Goodwill in the Community

More coming in our next installment…

 

23
Aug

Car Title Loan Business Idea: RallyRD

Posted by / Uncategorized

Very Cool Fractionalized Car Lending Platform

Hello!  

I’m always reverse engineering new lending platforms!  

In December of 2018, Rally RD came to my attention.

I immediately bought shares of this 1961 Jaguar XKE Convertible.  Rally invests in collectibles like cars, sneakers, art, wine, watches, comic books, sports memorabilia… Then, it sells fractionalized shares in the item to investors.  

You can exit your investment at any time.  You have the option of investing as little as $25 to $1000’s.  

It’s a very cool platform! 

ONE NEW IDEA WE CAME UP WITH?  

After “playing” with it for several months, we’ve launched a new title loan business offering fractionalized title loans to our investor network. [SORRY! We closed our last capital round.] 

However, our Newsletter and Blog are read by thousands of entrepreneurs in the lending space. I’m certain many of you will come up with unique, profitable ideas after exploring Rally RD!  

Join Rally with my link & make your 1st investment in winning cool stuff!
NOTE: This LINK is a referral link entitling you and me to prizes. If you prefer, just type Rally RD Dot Com into your favorite Browser. 

Check it out: RallyRD.  

And, don’t hesitate to reach out anytime to discuss “The Business of Lending to the Masses.”  
TrihouseConsulting
https://www.linkedin.com/in/jerryayles/ 
https://twitter.com/JerAyles    
https://AutomobilePawn.com
07
Apr

Car Title Loan Lender Tip

Posted by / Tactics

If you’re funding car title loans, there’s a cool, free tool by Trucar.com.

You can get a collateral valuation instantly: https://www.truecar.com/trade/

Just enter the VIN, Make & Model, or License Plate Number and you’ll get an instant cash offer from a dealer. How do we use this tool? Just enter the VIN, Make & Model, or License Plate Number and get an instant cash offer from a dealer. We get the dealer value and offer our borrowers a title loan from 30% to 50% of this value. It seems to be a good barometer for LTV calculations.

That’s all folks!

Jer Ayles

Recent Posts

Topics

Share