Are you in “the business of lending money to the masses?”

Do you still think of yourself simply as a payday loan lender? A check casher? A bail bondsman? A personal or installment loan provider?

If you do, you are WRONG! You’re a “Financial Service Center.” You sell money! You sell money in the form of loans. Car title loans. Payday loans. Personal loans. Installment loans.

Does you business offer car title loans? No? Big mistake! Plenty of money to be made with a lot less risk!

Google says “car title loan” searches are up 33%. Here’s the proof:

Per Google: Car Title Loan Searches Increase 33%

What’s this mean to you? Millions of consumers in the USA want to borrow money by putting  the title to their car up as collateral! Why is that a big deal? Because, if you’re a lender, your loan is collateralized by the car. This is not your mommy’s typical high risk payday loan.If a car title loan is not paid back, the lender takes the collateral- the car!

How’s a car title loan work?

Use one of the many tools revealed in our Manual: “How to Lend Money to the Masses” to determine the “low book value” of the car in your geographic area. Agree to loan up to 50% of this “low book” value to your car title loan customer. Our Course walks you through how to legally become the title holder on your borrower’s car. Then, depending on the state you operate in, you charge fees and interest to this borrower.

EXAMPLE: We operate in Calif. The law allows us to charge any amount we like as long as the loan amount is greater than $2500. The going rate today in Los Angeles varies from 8% to as high as 18% paid monthly on the loan principal.

THE REAL WORLD MATH! So, a Ford pickup that “low books” at $9K warrants a car title loan in the amount of $4000 at let’s say 9%/month. Until this Ford truck owner pays off the $9K, they will be paying you $360/month, month after month after month… in fees.

Worst case? Eventually they stop paying you? You email your repossession service – revealed in our Course. This repo service scans tens of thousands of license plates in Wal-Mart, Best Buy, Target… parking lots. In a few hours/days they get a “hit.” This repo service hooks up the car, delivers it to the auction where it’s refurbished and sold in one of the auction lanes.

The auction sends you a check. How big? In the real world?

Low book value was $9k. Let’s assume the borrower has been paying you $360 per month for 9 months [$4000 loan at 9%/month payment. So… after 9 months this Ford truck is a little worn. It brings $7500 at the auction. The auction charges you $150 refurbishing fee [high] and $350 to perform auction services [high: include repo charges]. You net $7000.

Summing up:

• You loaned the owner of this Ford truck $4000.
• You received 9 payments of $360 = $3240 [Note these are FEES NOT LOAN PRINCIPAL PAY DOWN!]
• You received $7000 from the auction
• In total, over this 9 month period, you received $10,240 [$3240 + $7000 = ]. You loaned the Ford truck owner $4000. Your NET is $6240.
• That’s a 253% ROI on your money in .7 years [270 days]

The more likely scenario? The one we experience?

We have car title loan clients who have customers that continue to pay their monthly fee payment for YEARS! In this example, $360/month year after year! The result? After a car title loan borrower pays $360/month – month after month – they still owe you the $4000 loan principal!

Get started now! Let us teach you how we do it. Learn “The Business of Lending Money to the Masses” today.