Although Arizona voters rejected payday lending in 2008, auto title lending grew in its place; and there now are about 600 licensed title lending branches statewide, according to Department of Financial Institutions data. The product may be attractive to borrowers with bad credit, little savings, and a lack of family resources. One consumer borrowed $2,000 against his vehicle at an annual interest rate of 156 percent. To repay the loan in six months, he had to pay back $1,560 in interest, despite living on a monthly disability check of $1,300. “They are going for what they think is a quick financial fix, but in reality, it’s a long-term-debt product,” said Diane Standaert, legislative counsel at the Center for Responsible Lending. “Every time they refinance, they essentially pay the fees again to float that same line of credit.” Industry records show that the average title loan consumer borrows $951 and refinances the loan eight times in a year. Those who default could lose their vehicle. In Arizona, there are no regular examinations for title lenders; the state responds only to customer complaints.