|
|
| *Loan,banking and credit>>>auto loan |
Auto Title Loans/Pawn. Is this a good business to start? |
Auto Title Loans/Pawn. Is this a good business to start? An excellent business IF you educate yourself. A 30% monthly return on your money invested is certainly realistic. You must become knowledgeable of used vehicle valuation methods and familiarize yourself with DMV (Dept of Motor Vehicle) forms and processes to succeed. Basically, you loan no more than 25% to 50% of the maximum dollar amount the vehicle would sell for "on the street" FAST. You then secure the vehicle title in an appropriate manner for your state/province. Most states/provinces have prescribed fee schedules you must adhere to. On those occasions when your customer fails to pay you in a timely fashion 5% to 12%, you must follow the procedures dictated by your state/province; eventually repossessing the vehicle for resale. Typically you will need a specific license to operate an auto title loan business. Check with your state/provincial Department of Corporations. Car pawn or Auto Title Loan businesses can be extremely lucrative IF you know what you are doing. The beauty of these title loan businesses is the loan is collateralized by the vehicle; unlike a payday loan. Source(s): http://www.AutomobilePawn.com yes good business http://www.getmaxloan.com/auto-loans.htm... Good but tough business. You are loaning money to people who more than likely would not be able to get a loan with a bank. Be prepared to act like a collector in many cases. Sounds a bit scary to me. I am in business for myself with The Body Shop At Home. I've been doing this for 2 1/2 years now and it is very financially rewarding. You may check out my personal website at: www.thebodyshopathome.com/web/... If you would like more information, please let me know. |
| Tags |
| mortgage loan consolidation loan commercial loan auto loan fha loan payday loan unsecured loan student loan personal loan |
SiteMap--Copyright/IP Policy--Contact Webmaster For personal non-commercial use only. |