6 Reasons to Become a Car-Title Loan Broker

Posted February 09, 2015 by
Business man with the text Broker in a concept image

Business man with the text Broker in a concept image. Photo courtesy of Shutterstock.

There are several career options that one can find in the car title loan business. One of the most rewarding lines of work you might consider is to become a car-title loan broker.

There are programs that you can apply for that will help you get started as a car title loan broker within a short period of time.

Your skill as a car title loan broker will be very valuable as you will bring in an element of direct marketing. There are many car title loan businesses that would willingly cut their marketing budgets in order to accommodate your service. To find a lending business to broker for in San Jose, go online and search for businesses that sell car title loans in San Jose.

There are many advantages to being a car-title loan broker and they include:

1. Good earning prospects

Your earning ability will be limited by your ability as a sales person. If you have negotiated good contract terms with the lender, and I assume you have, you might find yourself earning way more than people who work in banks.

2. Loans are in demand

People often need access to money without needing to go through the usual bank procedures.

You will find yourself with so much loan demand that you’ll need to hunt for more car title lending businesses to represent.

Customers also know that you are capable of negotiating for better terms from the lender, so they will always prefer to use your services.

3. No advanced education required

A successful career in car title loan broking is about your ability to sell. Such ability comes from your personality, your ability to win customers and your drive. These things are self-taught; you don’t learn them at any university.

4. Expansion can be quick

You can list your services as an intermediary of lending companies with many business people such as auto dealerships. Such information spreads fast and within a short time, you will have a constant supply of loan requests.

If you are very focused and methodical, you may even establish your own brokerage company and have both lenders and borrowers come to you.

5. No aggressive marketing required

You do not need to market yourself aggressively. Many people need money and if they want it, you do not need to convince them.

It is prudent, however, to create a social media profile or a website intended to market your services. This takes no effort and it actually cuts the amount of time you use talking to targeted customers.

You can also create a mailing list targeting business owners as they are usually in constant need of cash. This will be very useful especially if you have grown to the level of operating as a company.

6. Career freedom

You are your own boss. When you are not busy earning money, you can chart a course for how you want your career to grow.

Being a car title loan broker is easy and is the first step to becoming a respected member of the lending industry.

If you have good instinct for dealing with customers, you should consider going into this line of work and experience a successful financial life ahead of you.

About the author

Charlie Brown is finance professional with extensive knowledge of credit products. After 5 years working in the banking sector. Charlie went into private business as a lender and credit consultant in the San Jose area. His business offers credit facilities such as car title loans in San Jose. Visit his site to learn more.

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