Like our name, one of the biggest loan services that we provide to our customers is our loans for cars. With Las Vegas being the city of dreams, and with so many people walking through the city in every year, you would not believe the number of cars that are purchased in Las Vegas to be shipped directly out, even to other countries.
As you can guess, one of the reasons that people purchase cars in Las Vegas is because they win such a large amount, and they decide to immediately spend the money that they had won on a car. But those who win big or have come to Las Vegas on vacation and have a good amount of money, will take out a loan with us to help fund the rest of the money to purchase a car outright.
Now, I know what you may think. It can be immoral or at the very least shady to help customers who could be intoxicated or making a bad financial decision to take out a debt to buy a luxury car that they do not need. And this may be the case. But we are not in charge of customers finances, and too many times have we heard that we should reject a customer’s application.
Like the luxury car dealerships, we are a business. We also must make a profit in the end. Car title loans are the most profitable of loans, because if the loan is defaulted at any point, we can seize the car and sell it, even with depreciation. Usually the cars can be auctioned to the highest bidder in any state, and the cars customers purchase are in high demand.
With the amount of car purchases that are made in Las Vegas every year, we cannot assume that the loans will stop any time soon. Customers will continue to purchase these loans, and we all make off really well from it.