AUTHOR PAGE: Don Battis

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2 AUTHOR PAGE: Don Battis Don Battis is the owner and founder of Seacoast Car Title Loans and Pawntique, the online pawnshop. Both companies help consumers and small business owners who need short term financing. Follow Don on

3 TABLE OF CONTENTS: Don t get a title loan! (Until you take this Quiz).1 Title loan borrowers are NOT Dummies.. 2 How much can I borrow? How much are the payments?. 6 What is the interest rate?...7 Why do title loans have a bad reputation?...8 What if the car is sold for more than the loan?...9 Motorcycle Title Loans?...10

4 CAR TITLE LOANS FOR DUMMIES YES NO TAKE THIS SHORT ONLINE QUIZ TO DETERMINE IF A CAR TITLE LOAN MAY BE A GOOD OPTION TO SOLVE YOUR SHORT TERM CASH PROBLEM. Are you ready for a conversation? // Page 1

5 CHAPTER 1: Car Title loan borrowers are NOT DUMMIES! In fact, well-informed consumers know that Title Loans are a good tool to solve short term cash flow problems. However, title loans can be confusing- and lenders often aren't willing to share much information over the phone or on their websites. They must think that if they can drag you into their office, you will be too intimidated to shop around. Seacoast Title Loans want you to be an educated consumer. This ebook is designed to present all the information you need to determine if title loans are a good financial option for you. Less than 2% of title loans result in repossession. // Page 2

6 CAR TITLE LOANS FOR DUMMIES Here are the facts that a smart title loan customer should know. Click here to WATCH A VIDEO What is a Car Title Loan? A car title loan is a short term, high interest loan using the vehicle title as collateral. The borrower s name must be on the title and there can t be any loans on the vehicle. You keep the car while the loan is outstanding and continue to drive it. If the loan is not repaid, the vehicle can be repossessed and sold at public auction. If there is any surplus after the auction, it will be returned to the borrower. // Page 3

7 CHAPTER 2: How much can I borrow? Click here to D WATCH A VIDEO It depends on the age, mileage, and overall condition of the vehicle. As a rule-of-thumb expect to borrow only half the trade-in value of the vehicle. You can use the Kelly Blue Book Used Car Trade-in value to estimate the loan amount. For Example: We could loan approx. $7,000 on a 2007 Honda Accord with 60,000 miles // Page 4

8 CAR TITLE LOANS FOR DUMMIES How much can I afford to pay back? We don t want you to get in over your head. We want you to get the cash you need now but we want you to be able to repay it when the loan is due. Some clients are anticipating receiving large checks for bonuses, commissions, inheritances, insurance settlements, etc. and plan on using that money to repay the title loan. Other clients must repay the loan from normal household income. In that case, we can only loan up to 30% of your monthly take home pay. // Page 5

9 CHAPTER 3: How much are the payments? We have two loans products: Traditional One Month The original loan amount plus 19.9% interest due at the end of the month. Example: $800 loan Payoff at end of month $ ($800 plus $159.20) Option to renew for an additional month: Just pay the interest and pay down the principal by10% Example: To renew the $800 loan Pay only $ ($ interest plus $80 pay down) Ten-Month Renewable Package Loan Stretches the payments out over 10 months with 10 equal payments. Example: $800 loan Amount due monthly $ At the end of ten months, the loan is completely paid off. // Page 6

10 CHAPTER 4: What is the interest rate? The simple interest rate is 19.9 % per month for the one month loan at Seacoast Car Title Loan. (APR 238.8%) The monthly interest rate for the 10 month renewable loan is % per month. (APR 130.5%) What do other title loan companies charge? New Hampshire state law allows 25% interest per month. Some loan companies also charge additional fees. Less than 2% of title loans result in repossession. // Page 7

11 CHAPTER 5: Why do car title loans have a bad reputation? You could have your car repo d. Because if you need cash for more than a short time, the interest cost becomes quite high. (APR 238.8%) What happens if I don t repay my loan? The lender could repossess your car and sell it at auction to repay the loan. // Page 8

12 CHAPTER 6: What if the car is repo d and auctioned for more than the loan? The simple interest rate is 19.9 % per month for the one month loan at Seacoast Car Title Loan. (APR 238.8%) The monthly interest rate for the 10 month renewable loan is % per month. (APR 130.5%) What do other title loan companies charge? New Hampshire state law allows 25% interest per month. Some loan companies also charge additional fees. 25% per month is 300% APR // Page 9

13 CHAPTER 7: Motorcycle loans- Get a loan and free storage for the winter! Yes- we loan against motorcycles, jet skis, and RV s. The only difference is that we must hold them at our secure facility while the loan is outstanding. Motorcycle loans are quite popular during the winter months. // Page 10

14 CAR TITLE LOANS FOR DUMMIES Can I get a title loan from an online lender? Probably not. The New Hampshire Banking Commission licenses title loan companies. If an unlicensed lender makes a loan in NH, they have no legal right to any repayment or interest. How can I decide if a Car Title Loan is a good idea for me? Do you have a plan for how you will quickly payoff the loan? If you will be able to repay the loan in a month or so and you own your vehicle without any other loans, then it is a GOOD IDEA. // Page 11

15 CAR TITLE LOANS FOR DUMMIES Do I have to go to your office to get my loan? NO. We can come to you. We can get all the information we need by phone and . We can meet you at a location convenient to you to give you your money. // Page 12

16 CAR TITLE LOANS FOR DUMMIES Where can I get a Car Title Loan? Obviously, Seacoast Title Loans is our choice or But here is a list of other title loan companies in New Hampshire. Carbucks of New England, Inc. has a store in Nashua, NH. Loanmax, LLC has stores in Nashua, Manchester, Plaistow, Concord, Seabrook, Salem, and Somersworth, NH. New England Auto Finance, Inc. has offices in Manchester, Salem, Plaistow, Nashua, Somersworth, Laconia, and Seabrook, NH NHCash.com LLC has an office in Bedford, NH Title Cash of New Hampshire, Inc. Has offices in Nashua, Londonderry, Salem, Plaistow, Littleton, Hudson, Rochester, and Tilton, NH Good luck with your loan search! // Page 13

17 CAR TITLE LOANS FOR DUMMIES Take the QUIZ! Click here TAKE THIS SHORT ONLINE QUIZ TO DETERMINE IF A CAR TITLE LOAN MAY BE A GOOD OPTION TO SOLVE YOUR SHORT TERM CASH PROBLEM. Do you qualify? // Page 14

18 CAR TITLE LOANS FOR DUMMIES What Happens Next? Are you ready to talk? Call me at Want a loan specialist to call YOU? Click here and your name and phone number. Got a question? Click here to your question. We ll get right back to you. Not sure if you qualify? Click here and take the Quiz. // Page 15