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| TITLE LOAN businesses; they're popping up everywhere | |
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| Tweet Topic Started: Feb 14 2013, 10:33 PM (1,337 Views) | |
| dwarren | Feb 14 2013, 10:33 PM Post #1 |
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Has anyone else noticed how many Car Title Loan stores have opened for business in their towns? Business must be brisk for there to be a demand for so many locations. Hopefully I'll never have to need their services, but one thing is certain , there is no shortage of customers pawning their car titles. I just read a news headline in the local newspaper that said the state wanted to limit the interest rate for title loans to 36%! Is this just a sign of the times on how our economy is really doing?
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| Scoobs | Feb 14 2013, 10:35 PM Post #2 |
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:D
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Hmm, maybe i need to start up one here in my town....
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| Coche Blanco | Feb 14 2013, 10:37 PM Post #3 |
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Troll Certified
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We have got to stop making laws to help stupid people out, same thing with warning labels.... |
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| Vkhelldog | Feb 14 2013, 10:37 PM Post #4 |
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there is a crap load of them in idaho, but they are illegal in washington I think because we dont have ANY.... |
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| Horn | Feb 15 2013, 12:03 AM Post #5 |
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These will do great in crappy economies.....if/when the economy recovers, many of these will close. |
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| 68custom | Feb 15 2013, 12:15 AM Post #6 |
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like pawn shops thet prey on the weak and the poor! |
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| Horn | Feb 15 2013, 05:26 AM Post #7 |
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Nah, I think the weak and poor screw themselves over. All you have to do is 20 seconds of research and realize a title loan is a joke.....not that hard. The weak/poor don't have to go there. They choose to go to the business. Some people need to take responsibility and stop blaming everyone else..... Edited by Horn, Feb 15 2013, 05:27 AM.
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| Cobb | Feb 15 2013, 07:08 AM Post #8 |
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BANNED
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I cant believe in this economy that, that many people actually own their car or have a free and clear title to begin with.
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| nerys | Feb 15 2013, 03:05 PM Post #9 |
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Grr
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you tell that to the person desperate to make their next medical insurance payment or next mortgage payment and then call them stupid. I am FORTUNATE to not be in such a position but I am also without medical insurance too. |
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| Horn | Feb 15 2013, 04:22 PM Post #10 |
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If you take your title to a title loan place, you are stupid. its like putting a greasy rag over a bad wound......well you still have a wound and now its infected. |
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| nerys | Feb 15 2013, 04:30 PM Post #11 |
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Grr
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again tell that to the person looking at being booted or can;t get their medical care. you can spat off all you want but until you are IN their shoes you are unqualified to make such a statement. in fact I could see people "gaming" this big time. imagine you got a junker but its decent if it actually ran. get title loan walk away when they come to collect the car. There is it take it. :-) might get more than scrap value even. either way I can see how people can be desperate. out of work about to be evicted one more month. if I can survive one more month there are 5 people for every available job maybe I will be one of the few who "gets one" and I can then pay my bills. I can very much see how these vultures can abuse people who are desperate. Edited by nerys, Feb 15 2013, 04:30 PM.
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| Horn | Feb 15 2013, 06:08 PM Post #12 |
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Never been IN their shoes, but have seen my parents IN their shoes many times. They decided to sell all the junk they didn't need. As far as medical care, you can always get medical car. I'm NOT saying it isn't going to be cheap, but if you are having issues and go to a hospital, you will be cared for. As far as "gaming this system". I asked someone the same question and supposedly they look over your vehicle. If, I had a crappy car, my credit was shot and I was completely broke, AND they offered more than I could get selling it......then yes, I would do exactly as you said nerys. and game the system. I have a feeling in the contract though, it says if they don't get the money back out of the car, then you have to pay the difference. (It doesn't matter if you are completely broke and have nothing to lose). Now if someone is desperate and needs rent money, they should sell all the crap that is not needed. Start off with your tv, game system, sell dvds. sell your stupid crap that is NOT needed to make more money. IMO a car is needed to make more money if you have to drive outside of town (longer than a realistic bike ride). Can you not go to a bank though and get a small personal loan. Lets say your car is valued at $3000 and you go to a small hometown bank, could you not ask for a loan of $1000 and put your car down as collateral? If I needed money that bad, I would look into borrowing money from a friend/family member. If there are no options there and I have sold just about everything inside my house, I would look into selling my car and buying a cheaper one. Sell the $3000 car and buy a $1000 to $1500 car. I wouldn't call these businesses "vultures", but I will call them vulture in the fact that you have feed a vulture. These people are feeding the vultures. If a vulture doesn't eat, they don't survive. |
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| nerys | Feb 15 2013, 11:32 PM Post #13 |
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Grr
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a person in that bad a shape would not qualify for a loan and you know this. a person in that situation does not tend to HAVE many possessions to begin with. I am not talking about people who squander I have VERY little sympathy for those kinds of people. you could sell your tv your dvd your game system and not get HALF a months rent check dvd's are worthless. I HAVE VALUABLE stuff and I can't sell it. no one has any money. that is not a valid option and you KNOW IT and now you have ZERO entertainment will go nuts and what next month. sell your kidney? again I would never use one of these places. they are designed to screw you. but the people HERE are typically slightly more intelligent than your "average" person going to one of these places. HAVE YOU SEEN the "Education" they levy out today? I have that word in quotes for a reason because I can't in good conscious call it an "education" that they get. they get vague simple stuff and basic monkey training. and you wonder why they behave in such a way. a dumb populace is an easy to control and manipulate populace. |
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| Horn | Feb 16 2013, 12:13 AM Post #14 |
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So, lets say they have no possessions. no income. The only thing they have is clothes and a car. They are going to be broke whether they go to one of these places or not. There are jobs out there for people. I don't have a job right now. I am tight on money, but if I was very tight on money, I could find a job at McDonalds or any fast food place. Hell. I could walk to a farm and say that I will do any work for little pay. Most of the people that I have heard of going to a title loan just suck with money. They have possessions. Its not the title loans fault they are broke. Even if there were no title loan places, what would they do. They are screwed either way, but its not the title loan's fault. Its not the loan's fault they can't keep a job, find a job, manage money, didn't plan the costs of having a kid, do drugs. etc etc. I agree they charge ridiculous rates, but these people aren't broke because of title loans. |
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| Horn | Feb 16 2013, 12:19 AM Post #15 |
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You don't need tvs and computers to be entertained. Hell, you can just sit and talk to people and be entertained. Talk to a friend. This morning I talked to a guy at the radio station for 2 hours. It costed me no money. What did people do before tv and radios? I guess they weren't entertained. And when you are broke, you can sell valuable things. There will always be a buyer. You may not get the price that you want, but there will always be someone out there to offer you something. Unless it is completely trash and needs to be thrown away. Most of the people that are very poor seem to have a major problem.....possible drugs, alcoholism etc. The average person will figure out what to do to make a few dollars. so yea it is a valid option. I saw my dad sell most of his possession when he was tight on money. I saw him do it a few times. If you can't find someone to buy stuff through craigslist or pawnshops, then maybe its junk... |
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Welcome to the all new Geo Metro Forum. We hope you enjoy your visit.

how many Car Title Loan stores have opened for business in their towns? Business must be brisk for there to be a demand for so many locations. Hopefully I'll never have to need their services, but one thing is certain , there is no shortage of customers pawning their car titles. I just read
a news headline in the local newspaper that said the state wanted to limit the interest rate for title loans to 36%!
Is this just a sign of the times on how our economy is really doing?





9:21 AM Jul 11