Car Title Biz ROI: 101 the Basics
Published: Thu, 03/20/14
Interested in car title lending? Then read on...
These are AVERAGES based on 274,000 "single payment" car
title loans and refinances. (No installment lending)
Assumes $50,000 "on the street" in car title loans.
Average loan principal: $992.00
Dollars per $100 loaned: $23.73
Percent of borrowers who refinanced: 36%
Average number of refinances per borrower: 4.37
Average loan fees earned per transaction: $235 per car title loan
per month
Total fees earned over life of average loan: $1027.40
Average number of loans on the books each month: 50.4
Monthly Fee Income: ($50K on the street)$11,865
Other Income (late fees, remarketed leads, tax prep, scrap gold,
bill pay...): $ 1,200
Total Monthly Gross Income: $13,065
Monthly Expenses:
Rent: $715
Advertising: $125
Internet: $30
Sub-prime consumer reporting: $63
Voip Phone: $45
Read more:
http://paydayloanindustryblog.com/car-title-loan-biz-101/
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