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Forums » Selecting a Business for Yourself

Info on starting a car title loan place?

    • 2 posts
    August 15, 2014 4:17 PM EDT
    I have capitol to start a business under 250k but for months cannot decide what to start up. Recently I went with a friend to assist her in getting a car title loan. I was SHOCKED at the interest she was going to end up paying. She borrowed $2500 with %158.6 APR. So her payments were going to be $335 per month for the next 48 months.

    I could not believe it!! These places practically rob you! But of course, owning one I am guessing there is a catch. Can anyone give me some insight how to start one of these up, such as approximately how much capitol you need and just overall what is the BS you have to deal with(I am sure there is some). Any help would be appreciated thank you
    This post was edited by ryder004 at August 15, 2014 4:17 PM EDT
    • 2 posts
    August 16, 2014 2:23 PM EDT
    ok this forum sucks
    • 11 posts
    December 17, 2015 10:49 PM EST
    I think when it comes to car financing, you need to have qualifications that allow you to advise people on different rental rates and financial tools. But personally, if you're going to start a business, it shouldn't just be able making money. Try and find something you have passion in too.