From Zero to Hero: Building an Empire with Car Title Loans
Car Title Loan Business: Building an Empire with Car Title Loans
Are car title loan businesses profitable?
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 […]
How to Start a Car Title Loan Business
LA’s billionaire king of subprime auto lending Car title loan lenders get a bad rap from the majority of society because most people are unable to put themselves in their “brother’s shoes.” Here is an example of a real-world car title loan lender who enables average folks who need a car in order to get […]
36% APR for Loans? Payday, Title, Installment Loan Biz
What is your take on the bill introduced reducing the interest rate to 36% APR? Thanks, Roger P. Great question. I don’t “worry” about it. I’ve been lending since 1998; Garden Grove, Calif. was our 1st location. New legislation introduced/defeated/passed… is part of the business of lending. There are simply too many creative lenders, a […]
Title Loan Business Plan
Car Title Loan Business Plan: How to Start a Title Loan Company You want to make serious money by lending money to the masses or you would not be reading this. To be successful as a lender – or in any other entrepreneurial endeavor – you really only have to be good at a few […]
Title Loans: Profits and ROI for Entrepreneurs
Profits & ROI for a Car Title Loan Business An entrepreneur’s perspective. Let’s begin with a real transaction. We have equity in California stores amongst other states. We do payday loans, car title lending, scrap gold buying and tax services. In one of our locations, a new customer walked-in requesting a title loan on his […]
Texas Payday Loan & Auto Title Loan Business
Texas Payday Loan & Auto Title Loan Business Texas payday loans and Texas auto title lending can be very profitable IF you remember that the business of lending money to make money is really a COLLECTIONS BUSINESS! As we stress in our “How to Start a Title Loan Business Manual” and in our stores and […]
Car Title Loan Statistics & Profits in California
Car Title Loan Statistics Reported by State of California: Growth in auto title secured consumer loans slowed in 2015. The number of such loans originated last year went up 9.5 percent, to 116,444 from 106,373 in 2014. By comparison, the year-over year growth rate in the number of loans in 2014 was 16.2 percent. The […]
Typical Car Title Loan Business Profits
Beginning car title loan lenders often ask about typical title loan borrower repayment schedules. Based on over 30,000 title loans over the past 3 years, here’s the average breakdown. Of course, if you’ve been a title loan lender for a while, your car title loan software should reveal your actual statistics. Basically, car title loan borrowers repayment […]
CFPB Car Title Loan Study
CFPB Car Title Loan Study “About 1 million households use car title loans annually, according to the Federal Deposit Insurance Corp., and the Pew Charitable Trusts figures that consumers spend approximately $3 billion annually in fees.” “The CFPB car title loan study also found that four-in-five car title loans aren’t repaid in a single payment as intended because […]
