As the threat of recession approaches, I need to rebalance some of my portfolio into some of the types of investments that excel during repression; booze, guns, and pawn shops.
One of the financial transactions that I assume will occur more is people doing title loans to pay their mortgages. Which is okay.
Here is my question:
Say I am already making a payments on a car. Am I still eligble for a title loan? How does the subordiante loan get put on the title? In the commericials I see, the people who are getting these title loans have newer cars that are obviously not paid off. I am curious of the mechanics of such a transaction.
Also, any additional advice about the operations of pawn shops would be helpful. I tried to explain to a manager at Cash America pawn why I was interested and he said he wasn't allowed to answer any questions. I did email their investor relations division about the deal, but I would suspect their knowledge of pawn shop operation would be limited.
