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Cash America International, Inc. Message Board

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  • mentges mentges Aug 12, 1999 4:36 PM Flag

    I hope is the bottom. eom

    I have noticed some hastily made banners going up
    at check cashing stores in Northern California
    offering "payday loans." I feel this trend is not good for
    Cash America unless they jump on the bandwagon in a
    big way. Basically these are non-secured loans, based
    on a previous pay stub, and verification of
    employment. The location I went in to seemed to be offering
    loans under $250. Traditional pawn operations take
    merchandise to secure the loan, which essentially becomes a
    liability if the person doesn't reclaim the item. I was
    pretty shocked at the junk that FirstCash is selling on
    its web site - coffee makers, telephones, etc. All of
    this stuff can be bought new at WalMart for less than
    $25. I have to presume that Cash America also has an
    inventory of rapidily depreciating goods. (considering the
    rapidly falling prices of manufactured goods from China,
    Korea, etc with devaluating currencies).

    Bottom
    line - If these payday loans are the future, then
    perhaps Cash America should take a big write-off on
    inventory, and offer these loans in pawn stores - not just
    their check-cashing stores.

 
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