VAN
NUYS, Calif., Sept. 27,
2024 /PRNewswire/ -- ChoiceCash, a leading title
loan brand offering auto equity loans to subprime borrowers in more
than 20 states, has published two new data studies highlighting
title loan application trends.
Published on September
10th 2024, the first data study covering average
credit scores for title loan applicants reveals that the ChoiceCash
product offers consumer credit to applicants with a credit profile
that is well below the national average. The product-wide credit
score average of 557.6 for year-to-date applications through end of
August is largely consistent for applicants from all regions within
the United States, ranging from
545.3 in the Northeast to 559.6 in the West.
Published on September
18th 2024, the second data study highlights title
loan customer payment trends by payment method, region and loan
disbursement method. This study reveals that ChoiceCash title loan
customers have a clear preference for making payments using
electronic payment channels, accounting for more than 90% of
payments. Looking at payment channel preferences based on how the
loan proceeds were disbursed at the inception of the loan, the
study finds that customers' preferences for receiving loan funds
also reflect in the channels they choose for making loan payments.
The study concludes that ChoiceCash's online title loan product
offer, which includes multiple ways to both receive loan proceeds
and make loan payments, allows title loan customers to transact
consistent with their financial preferences.
About ChoiceCash:
ChoiceCash is a vehicle-secured loan option for borrowers from
all walks of life. Serving customers in more than 20 states,
ChoiceCash has grown to be a premier funding option, with more than
a million loan inquiries processed.
The ChoiceCash loan is made by Capital Community Bank, a Utah
Charted bank, located in Provo,
Utah, Member FDIC. All loans will be serviced by LoanMart.
Loan proceeds are intended primarily for personal, family and
household purposes. All loan applications are subject to meeting
Capital Community Bank's credit criteria, which include providing
acceptable property as collateral. Customers need to demonstrate
ability to repay the loan.
Contact information: media@choicecash.com
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SOURCE ChoiceCash Title Loans