Re: Title Max in Burke closing? WTF?!
Posted by:
not preying
()
Date: March 14, 2016 02:29PM
chuckhoffmann Wrote:
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> More likely that there's just not enough business
> available to keep the store open.
>
> If you want to get a title loan, you have to hold
> the title; it has to free and clear of any liens,
> meaning you can't still owe the bank money on it.
>
> So, you need to own your own car, and yet still
> not have access to any of the better, less
> expensive sources of credit (the interest rates on
> a TitleMax loan are so usurious -
> 264% annually - as to be
> laughable for anyone who's even a moderately
> sophisticated consumer). TitleMax preys on the
> poor, ignorant, and desperate.
>
> There's probably just not enough of these
> potential suckers customers in
> Burke, or they've already gotten everyone who fits
> the description. Strip mine and move on.
for many people, their car is their biggest assett