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 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
