As one of the few title loan options available in all census regions of the United States, ChoiceCash is excited to share title loan origination trends by census region and vehicle manufacturer. Based on origination data from January 2024 through October 2024, ChoiceCash is reporting the 5 most popular vehicle manufacturers for each census region.
At 16.7%, ChoiceCash online title loans originated in the Northeast were most frequently secured by Honda cars and trucks, closely followed by Chevrolets with a share of 14.8%. Toyota vehicles such as the Toyota Corolla, and Ford vehicles took the number 3 and 4 spot, with a share of 11.1% each. The fifth most popular title loan vehicle make in the Northeast was Acura.
Title loans originated in the Midwest in the first ten months of the year were primarily were primarily secured by Chevrolets, with a share of 18.2%, followed by Ford vehicles with 15.3%, and Toyota cars and trucks at a distant 8.3%. Honda and Jeep completed the top 5 manufacturers, with a share of 6.7% and 6.4% respectively.
With Texas as its largest member state, the South region exhibits a fairly even distribution of the top 3 vehicle makes used to obtain a ChoiceCash title loan. Toyota was the leading manufacturer with 13.4% of title loans made to residents in the South, followed by 13.2% of loans written against titles to a Chevrolet car or truck, and 11.6% of loans made against Ford vehicles. With a title loan share of 8.8% and 7.2% respectively, Honda and Nissan completed the top 5 in the South.
Anchored by California as the most populous state in the region, ChoiceCash title loans taken out by customers living in the Western United States were primarily secured by Toyotas, which accounted for 18.6% of ChoiceCash loans in the region. At 11.8% and 11.5% respectively, Chevrolet and Honda vehicles came in at a distant second and third. Ford vehicles took the number 4 spot with a 10.0% share of ChoiceCash loans made in the first ten months of 2024, followed by 3.8% of ChoiceCash loans that were secured by Lexus cars.
While only 8 different vehicle manufacturers make up the top 5 makes across all census regions, ChoiceCash title loans are not limited to any particular vehicle manufacturer, vehicle model or vehicle year. As long as an applicant’s vehicle meets the necessary positive equity requirement to qualify for a car title loan, the applicant may be eligible for a ChoiceCash vehicle-secured loan, and get the cash they need in as little as one business day.1
Contact: media@choicecash.com