LoanMart reports origination trends for Arizona and Missouri

VAN NUYS, Calif., June 7, 2024 /PRNewswire/ -- After seeing strong loan demand in the first five months of the year, LoanMart is providing insight into title loan origination trends for Arizona and Missouri.

Based on loan originations from January 2024 to May 2024, the top 5 cities in Arizona accounted for 42.9% of title loans in Arizona. The largest demand for title loans was seen from borrowers residing in Phoenix, Yuma, and Tucson, accounting for 17.9%, 8.6%, and 7.1% of loans in the state respectively. The most popular vehicle used to secure a title loan by Arizonans for the same time period was the Toyota Camry, which accounted for 4.3% of loans, followed by the Ford Mustang and Nissan Altima, each accounting for around 3.5% of loans.

In Missouri, the top 5 cities accounted for 47.4% of loan demand, with St Louis and Kansas City each generating approximately 15.8% of the loans in the state. The most popular vehicle manufacturer used to secure an auto equity loan in Missouri was Toyota, with the Toyota Camry and Toyota Highlander in a virtual tie.

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SOURCE LoanMart