Run if you have other options- This could be a good bridge job until you start somewhere else - General Manager TitleMax Employee Review

Heres the thing now days. We don't gather proof of income, residence, or anything. We don't care what their income is- in many situations I've given people higher payments than their income is total. We don't have a choice. Corporate now decides how much the vehicle is worth and you have to offer it to them (plus your motivated to get them to take it all because of the new loan bonus, and if you're store doesn't grow in total accounts loaned out, you will be fired). Corporate also has created a way that we sell our vehicles (so now you have no control over how much you get for the vehicle). Heres where it gets really crazy. If an account goes so many days past due, its written off of your profit (which is where the majority of your pay comes from). So for example, if I give someone 8 grand, their going to have roughly a $900 payment. This person could be on social security and only receive $600 per month. So guess what, when it goes past due so many days, your profit just got deducted by the $8,000 you give them which would effect your paycheck by $400 if youre at titlemax, or $800 if you're at Titlebucks. That seems crazy right? Not really... it gets even better. You can't make but one point of contact per day with the customer (a voicemail is considered a point of contact) or a max of 2 calls per day to the customer. You can't leave the office to spot a vehicle if you think you've found it if its being hidden. You can't call references with the exception of one time, and if you talk to them once (voicemail counts) you can never talk to them again. It doesn't matter if the reference is their spouse, child, mother, etc. -- and to make it EVEN BETTER, Sure, find the car, sale it, and that amount comes off the balance you're charging off.. but guess what?! NOW we can't even repo a vehicle unless its 45 days late. In other words, you will NEVER find your vehicle to sale it. This is corporate trying to get us to retain our accounts to achieve more growth-- seems simple in theory. But guess what? Reality and experience tells me the customer is going to CHARGE-OFF because we CAN'T find cars after 45 days of being past due. Their hidden! We are not a bank, we don't check credit, income, etc. so we're not dealing with the best class of people-- at day 45, theve had 2 weeks of knowing we're coming and the vehicle is gone. Now heres where co-workers get really angry. If you're charge-offs (the people hitting X amount of days past due) exceed 2.75%, you lose your new loan bonus and only receive profit, but I can tell you, if your charge-offs are over 3%, these accounts are also being deducted from profit so guess what?! There isn't any!! Now you're working WAY more than 48 hours (they advertise that I notice, but I usually work around 55-60 hours per pay period). for $30,000 year which equates out to almost minimum wage. I've been blessed in not experiencing this, but the MAJORITY of my fellow GM's are experiencing this. ZERO job security. I had the pleasure of knowing a guy that had been with the company 9 years (extremely rare to find someone that's made it that far) he had a rough year last year losing accounts thru tax season and wasn't able to grow his store over where he was at before tax season, and guess what? They fired him for exactly that. Keep in mind, Its all about growth, and growing your stores accounts. Its always measured off of Last years numbers. Well- News flash, Last year we could make more calls, communicate with references, even knock on their door if we wanted. We could decide how much to loan a customer based off of their income, we made the decisions. Now, Sr. Management has created all these fairy tale products to where we have ZERO control, but we're held accountable via pay check or even our job.