The Bureau of Financial Institutions added the 2011 payday and car title loan #s to their annual report.  The payday loan numbers haven’t changed much since 2010 except the payday lenders are suing a lot more people.

This is the first full year of numbers for car title lenders in Virginia.

  • We now have 378 car title lender locations (267 payday loan locations)
  • 128,446 loans made
  • 105,542 borrowers
  • Average loan amount $976
  • Average loan term is 306 days
  • 8,378 cars repossessed
  • 4,910 cars sold after repossessed

See the Annual Report in Full