Category: How to Start


Example Bill of Sale for Car Title Loan

Looking for an “Example Bill of Sale for Car Title Loan” business?

A “bill of sale” is a state or province legal document that transfers ownership of a car, trailer, truck, RV, motorcycle… from one person to another.

It is used in situations where the previous owner retains possession of the vehicle.

bill of sale is an important part of any vehicle sale; however, it is not the only thing you’ll need to consider.

  • No car title loan is final until you complete a title transfer. Without this step finalized.
  • Many states require a state-specific bill of sale form. In this case, you must fill out the bill of sale form offered by the motor vehicle agency in your state. This list includes some states that require and provide a specific type of bill of sale form when you buy or sell a vehicle:

A bill of sale may be used in a wide variety of transactions: people can sell their goods, exchange them, give them as gifts or mortgage them to get a loan. They can only be used:

  • to transfer ownership of goods that people already own;
  • to transfer ownership of moveable tangible goods; and
  • by individuals and unincorporated businesses.
  • Here’s a link to an example “Bill of Sale:” Bill-of-Sale-Example-81-03

Texas Car Title Loan Business Profits

How to Start a Texas Car Title Loan Business

You want to learn how to start a car title loan business? Read on…

According to The Texas Star Telegram, the typical Texas household is $40,000 in debt. They don’t make it clear whether this includes all Texas home loan mortgage debt; stupid.

The one thing that is clear is that Texas car title loan borrowers paid $360,000,000 in car title loan fees and interest last year. [Note: That’s an increase of $52,000,000 from the previous year. Car title loan lending is good!] This information was disclosed by the OCCC; the Texas regulatory agency for car title loan and payday loan stores and internet lenders.

Why would Texans spend this kind of money on car title loans? Because there is no where else to turn to in times of financial duress. Many Texans, like residents of California, Georgia, Arizona, Louisiana… would rather borrow from a car title loan lender for a few months than beg for help from their employer, family or friends. Why?

  • Car title loans are quick and easy
  • To qualify, you need to prove you can pay back the money and you have a car, RV, motorcycle… with a clear title. That means, no lien holder.
  • That’s right! Cars, RV’s, motorcycles, boats… all possible collateral for a title loan
  • Car title loan transactions are private
Title Loan Business

Title Loan Business

Critics of car title loan lenders are everywhere. Of course, they rarely experience “hard times” since the majority of these folks work for the government or a so-called consumer protection agency. A great example of this is the Consumers for Irresponsible Lending. [Just kidding; it’s the CRL.]

On the other hand, many consumers for car title loans work for the U.S. Post Office, the Department of Motor Vehicles, local hospitals, etc.

And of course, we have our “outlier’s.” Those consumers and lenders who push everything to the limit and place all financial service products to the point of over-regulaion! Not a day goes by that you don’t read some horror story about a poor, mistreated borrower whose car is repossessed or a car title lender who simply goes over the line of human decency because of greed.

As operators and consultants in the car title loan industry, we can report that the actual number of vehicles we repossessed are less than 3 in 100 funded title loans. In those few circumstances, we called, sent several text messages and letters to the borrowers in an attempt to get them to talk to us. Failing these measures, we simply picked up the phone, called our friendly repossessor and reported the vehicle plate and vehicle identification number to them. Within the week, the license plate scanner [LPS] company got a “hit” and our repossessor picked up the car having the title loan in a Wal-Mart parking lot.

Our car title loan repossessor delivered the vehicle to the Anaheim, Calif Manheim auto auction. There, the vehicle was reconditioned and “run” through the car auction. A week later we received our check from the auction house. We deducted the fees, interest, late charges and storage costs from the amount we received from the auction and sent the balance to our car title loan borrower’s last known address. [Note: This check was cashed :-)]

Car title loan lenders DO NOT WANT YOUR CAR! We just want our money. The fees are clearly explained AND posted on our websites and in the case of store-fronts, on the interior walls of the store.

Here’s an example of the fees we charge for a car title loan:

  • Vehicle “low book value” is $8000.
  • Borrower wanted $3000 for 30 days.
  • We charged her $180 in fees plus a $35 DMV fee.
  • That’s it!
  • Yeah, sure. Extrapolated over 365 days that’s 180%+ APR. So… if the borrower doesn’t like it, no one is forcing her to borrow the cash. Try your local bank. It would cost them $500+ just to do the paper work AND they will not offer these types of loans.

Is this loan predatory? We don’t think so. But it’s a bit like pornography. I can’t tell you for sure but I know it when I see it. In Texas, California, Georgia, Arizona… it’s legal. And for MANY Texan’s, this car title loan appears to be reasonable.

Start your own car title loan business. Get our “How to Start a Car Title Loan Business Manual” now; delivered immediately into your email inbox.

Click HERE to get started. Buy Now.


Car Title Loan Checklist

When you’re running a car title loan business it’s critical to use a “Car Title Loan Valuation Checklist” to systematically place a value on the car title BEFORE you fund the title loan.

Title loan valuation checklists don’t have to be complicated. Just the basics in addition to a few pictures.

Title loan pictures should include the “Vehicle Identification Number” [VIN], the mileage and various angles of the car. [LF Front, RT Front, Rear, Front, License Plates…]

Car Title Loan Collateral Valuation Checklist

Car Title Loan Collateral Valuation Checklist

If you’d like a version of this “Car Title Loan Collateral Evaluation Checklist,” just email us at . For a step-by-step guide to starting or improving your own title loan business go here: “Title Loan Startup Manual.”

Once you have completed this checklist, we’ll show you how to determine the maximum LTV – loan to value – to offer your customer. There are several free tools…Vehicle-collateral-title-loan-checklist-V4-lrg



How to Set Up a Title Loan

How to open a title company?

You still trying to figure out how to set up a title loan company?

Still spending hours on your computer “Googling: How to Start a Title Loan Business?” Still haven’t invested in our “How to Start a Car Title Loan Business?”

Here’s some ideas we still use in our title loan and payday loan businesses:

  • First, look around. If there are zero title loan companies in your city they’re probably illegal.
  • Go get a title loan from a competitor. Nothing like getting a car title loan on your dime to see what all the fuss is about. Get copies of everything. Ask lots of questions? Don’t be shy! “Is business good?” “How many car title loans does your store average every month?”
  • Pay off YOUR title loan the following week. If you want to press it and learn about their collection process, push them to the brink of repossing your car 🙂
  • Interview employees of your competition. Setup appointments at the local Starbucks. Be upfront! Tell your title loan applicants you’re new to title loan lending and you’re planning to start a new one. If they’re really good and of value, pay them $50 or more on the spot. Maybe hire one eventually.
  • Run an ad for employees and managers on like this:

XXXX Cash – Hiring for All Positions
Employment type: full-time
NOW HIRING (All Positions including Management Positions)
(Email Resume or Apply in Person)XXX Cash if you would like to apply.

HEALTH BENEFITS & 401K Available for all FT positions.
– Bonus Compensation
– Leadership Bonus
– Performance Bonus
– Customer Service Incentive Plans

FLEXIBLE HOURS – PAID TRAINING – A high school degree is required. – XXX Cash will train you on, customer service, all the products and services offered as well as how to perform all duties and tasks.

How to Start Title Loan Biz

How to Start Title Loan Biz

We offer 2 methods to invest in our “How to Start a Car Title Loan Business:”

  • Immediate download in Adobe Acrobat: $237.00
  • We’ll print and ship it to you: $367.00


How to Open a Title Loan Company

Open a Title Loan Company

To open a title loan company, You Must Do This! 

You want to open a title loan company? READ THIS!  THIS IS CRUCIAL! You, or a member of your team, MUST become familiar with the appropriate title loan laws, statutes, legislation, licensing requirements and specific reporting requirements of your state or province.

How to Open Title Loan Company

How to Start Title Loan Biz

The moment our Car Title Manual was created it became obsolete.  (Note: We update both the digital version of our “How to Open a Car Title Loan Business” and our printed version 4 times each year.) It is for this reason we include links to your state regulatory authorities.

ALWAYS contact your state or provincial regulators for the latest car title loan laws, licensing requirements and fee structures.  This generally includes your Department of Corporations, Department of Finance, Department of Motor Vehicles, and/or city hall.

Additionally, do not fail to contact the car title loan software providers discussed in our Car Title Manual.  Visit their web sites.  Contact them for sample contracts and disclosures; we provide several example car title loan contracts as well.  Finally, Burrell Printing [see our Manual] offers a variety of forms, contracts and more for the auto title loan, payday loan, and check cashing industries.

Just as important is the need for you to actually apply for and receive a car title loan in your state or province.  This is a great way to evaluate your competition and get copies of ALL the appropriate forms, disclosures and contracts appropriate for your title loan company.

Always select your biggest and most successful title loan competitor to target.  Typically, they have spent the required funds and utilized the best legal counsel to review their documentation.  Model your materials after theirs.

If necessary, invest in an appropriate automobile to accomplish this.  Any vehicle having a wholesale value of $2000 to $5000, depending on your locale, will suffice. Your must accomplish this task. It cannot be overly emphasized! If this is “painful” it means you must do it. Stretch yourself!~

Always contact your state or provincial car title loan, pawnshop and payday loan trade organization.  The membership is comprised of your peers.  Their meetings and conventions are great opportunities to learn and connect.  See our chapter entitled “Resources” in our “Title Loan Company Manual.”

Finally, to successfully open a title loan company, subscribe to PawnBroker Magazine and Checklist Magazine at 212-807-0148.  Additionally, follow the Buy-Here-Pay-Here Industry. These two magazines are industry trade magazines offering insight, training, conventions, and new products and services that will help you to be more successful opening your title loan company.

We offer 2 methods to invest in our “How to Open a Car Title Loan Company:”

  • Immediate download in Adobe Acrobat: $237.00
  • We’ll print and ship it to you: $367.00


Start a Title Loan Business?

Want to start start a car title loan business?

This simple approach works! You want to learn how to start a title loan business? We offer all the information you need in our “How to Start a Car Title Loan Business Manual.”

Start Car Title Loan Business

Start a Title Loan Biz

One easy method we discuss? Place an ad on Craigslist for an employee. Get applications and then meet the candidates at Starbucks. It’s common for this tactic to result in a 60 minute meeting with an experienced car title loan employee who will “spill their guts” and reveal every strategy your future car title loan competitor is using to profit lending $$ on car titles.

You may even hire one of these candidates for your own new car title loan business! Or, find an experienced partner! It’s happened to us many times over the 15+ years we’ve been in the car title loan and payday loan industry.

Now, I’m not suggesting you take advantage of these applicants. Narrow down the candidates to those with real car title loan experience. Tell them you’re researching the title loan space and have not yet decided to start.

At the end of the meeting, offer to pay them for their time. If you learned a lot about the car title loan space, it’s fair to give them a check for $50 – $100 for their time and information. This is your call! It’s about integrity!! I am HAPPY to pay for good information. I think of it as an investment. And paying a great car title loan resource $100 for 60 minutes of their time makes a GREAT deal of sense to me! And again, if you “pull the trigger” and start a car title loan business, this applicant could play a key role in your success!

Here’s a very basic sample script for a “Title Loan Employee Wanted:”

  • Title Loan Rep 

    compensation: will discuss
    employment type: full-time

    Qualifications:Bilingual must peak English/ Spanish
    Have a High School Diploma or GED
    At least 1 year experience in Title Loan Industry
    Reliable transportation
    Detail oriented and have the ability to multi-task
    Employment stability
    Please email your resume!!!

Meanwhile, here’s a chapter-by-chapter description of our 300+ page Manual on “How to Start or Improve a Car Title Loan Business” and make money by lending money on titles to automobiles.


How to Start a Car Title Loan Business in California

How to Start a Car Title Loan Business in California

The Title Loan Industry is Growing in California

The California Department of Business Oversight issued a Report that concluded California’s car title loan market loan transactions more than doubled between 2011 and 2014 to 106,373.

Car title loans are collateralized loans in which a borrower puts up the title to their automobile in return for a loan. In California, lenders must have a California Finance Lender’s License (CFL), a bond, and loan a minimum of $2501.

For entrepreneurs, the most appealing aspect of entering the car title loan industry in California is that the interest that can be charged by the lender is not specified by the State. In California car title loan stores we charge between 8% per month and 24% per month interest. The rate depends on a number of factors. How to start a title loan business Car title loans are offered to Californians via the Internet as well. The DBO sent out an alert last December noting that California car title loan lenders can legally charge unlimited interest rates on most loans since California state law imposes no minimum or maximum interest rate restrictions on loans of $2,500 or more. In 2014, 99 percent of all title loans made were for at least $2,500, the DBO said.

Car title loan borrowers must be made aware that the lender can repossess the automobile if a borrower fails to make payments per their loan contract.

The California Department of Business Oversight stated that the State’s No. 1 auto title lender leader in volume in 2014 was Loan Mart with 9,827 loans.

Are you an entrepreneur interested in starting a car title loan business? Are you frustrated with “Googling” all day and night to get the answers you need? Do you value your time? If you’re ready to get down to the “brass tacks” and start your own title loan business, get our “How to Start a car Title Loan Business Manual” delivered to your inbox NOW! It’s available as an immediate download in Adobe Acrobat. Want the “printed and shipped version” instead? We’ll take care of it for you. Pick your poison here! Get Our Manual

  • Immediate download in Adobe Acrobat: $237.00
  • We’ll print and ship it to you: $367.00

Title Loan Business

Title Loan Business


11 Strategies for How to Start a Car Title Loan Business

11 Strategies for How to Start or Improve a Car Title Loan Business

Car title loans are a fact! Consumers need access to small dollar loans. Fast! Emergencies of all kinds pop up. It’s been said that 50% of U.S. residents cannot get their hands on $1000 in an emergency. Here’s a basic breakdown regarding “How to Start a Title Loan Business.”

Lacking friends and family who haven’t already been “tapped out,” a common method for solving these temporary liquidity challenges is to use the title or “pink slip” to their car to borrow some bucks.

These are high interest loans! They do not come cheap. Depending on the state, a car title loan operator will charge heavy fees for the convenience of servicing a car title loan customer in need of quick cash.

How much you ask? Let’s look at California. The rates for car title loans under the California Financial Lenders license (CFL) is not regulated for title loans above $2500.

California title lenders are currently charging 8% to 20%+ per month on the outstanding loan principal.

What’s this mean? A $3000 loan using a car title as collateral, at an 8% simple interest rate, would dictate the borrower will pay the title lender operator $240/month each and every month until the $3000 balance is paid back in full. So, if the car title lender borrower needs 10 months to payback the $3,000, that’s $2400 in fees paid to the owner of the title loan business plus the $3000 original loan principal.

How to start a car Title Loan Business

If the borrower fails to make their payments, the title loan business owner will make a call, have her repo company pickup the car, deliver it to the nearest auction and be rid of it. After paying the auction any reconditioning and auction fees, the title loan operator will deduct the amount owed by the car title loan borrower and mail any balance to the title loan borrower.

Entrepreneurs reading this typically experience delirium when contemplating the profit potential.

So, “How do you start a Car Title Loan Business?”

  1.  Look around you! Is there a car title loan business in your city? In your state? If yes, keep going. If not, there must be a problem. Perhaps car title loan businesses are illegal. Believe me! There is so much money to be made lending cash against car titles that if it isn’t already being done in your state, there must be a law against it. Find out!
  2. Walk into a competitor’s store. Look over all the walls. There is bound to be references to the legal authority granting this competitor the ability to offer car title loans. Usually, you’ll see an 800# to your State’s office of business licenses or perhaps your State Dept. for Business Oversight. Every state has a different name. Just get the number and make the call. Call and call until you get the right person. (Or refer to the Chapter in our “How to Start a Car Title Loan Business” focused on licensing in each state.)
  3. You may need a “Bond” in addition to a “License.” Use Google to find a “Bond” or pick an insurance company out of our “Manual.”
  4.  Get a car title loan from your “biggest – baddest” competitor. Use their forms and contracts to start. Have them customized by your own lawyer. (Or use the ones in our “Manual.”) GO THROUGH THE LENDING PROCESS WITH YOUR COMPETITOR! See what it feels like. Taste it. Ask questions. This is a CRITICAL moment; an opportunity to decide if you really want to proceed building a car title loan business.
  5. Learn what the minimum and maximum rates/fees are that can be charged to customers for car title loans in your state.
  6. Pick a name for your car title business. Use keywords in the title. Allow your company name to reflect what your business does. “Fast Title Loans” for example. Add the name of your city or state. Go to your county clerk and register this name. You’ll need to run this filing in your local newspaper to open a bank account. Fees are minimal.
  7. Make certain you create a business entity; an LLC, a C-Corporation, an S-Corporation, a DBA… check with your tax person and your accountant your lawyer… (If you have our “Manual,” just follow our instructions and reach out to the resources given.) You must assemble a small Team of experts in each of these fields!
  8. Get a location. You’ll need high traffic, great signage, convenient customer parking, and a good lease with an opt-out clause. (See our “Manual”. We have a lengthy Chapter devoted to this topic.) As we talk about in our “Manual,” your IDEAL location is inside a Walmart 🙂
  9. Get some great loan management software! This will cost you $100 – $200/month. It’s a MUST investment. Make certain it’s “cloud” based. Make it easy to run your business from an office, a store, or out in the field. If you offer the advantage of being able to meet your customers at a Starbucks, a parking lot, their employer’s place of business… you can beat the pants off your competitor. (See our “Manual” for loan management software providers we use and recommend.)
  10. Market the hell out of your new car title loan business! Your sign, Google PPC, Craigs list, twitter, Facebook, Pinterest, LinkedIn, direct mail, radio, TV, a mobile friendly website… Again, all this is thoroughly covered in our “How to Start a Car Title Loan Business.”
  11. Your next job? Collections! This is where it gets tricky. It’s easy to give away your money to anyone who can fog a mirror. But how do you handle the late-payers and those customers who had no plan to pay you back in the first place? Avoiding this “collection” problem begins the very first time you lay eyes on this borrower. We call this “underwriting.” This is a huge subject. Over the past 20 years, we’ve developed strategies, tactics, tools, data bases and resources to deal with this reality. BIG TOPIC! See our “Manual.”

Sorry! This is a HUGE topic. We’ll continue  “How to Start or Improve a Car Title Loan Business” in our next installment. Or, you may invest in our Manual by clicking here: “Trihouse Car Title Loan Manual.”

How to start a car Title Loan Business