Petition Closed

The Los Angeles Clippers recently announced a multi-year sponsorship deal with 1-800LoanMart, a car title lender whose loans come with triple-digit interest rates.

The APR on 1-800LoanMart’s car title loans can reach 180%, even though the loans are secured by borrowers’ cars. In addition to being high-cost, car title loans are designed to trap borrowers in costly long-term debt. Many working families end up choosing between making the high-interest payments on their loan or losing their car.

1-800LoanMart peddles high-cost, dangerous products that cost low- and moderate-income families thousands of dollars and put their primary source of transportation on the line.

The Clippers can and should do better. Clippers fans deserve better too. It is bad enough that 1-800LoanMart is able to charge triple-digit interest rates. But for the Clippers to embrace 1-800LoanMart's sponsorship suggests that these types of predatory loans are not only legitimate, but a good solution to a financial setback.

They are not. The L.A. Clippers should bench 1-800LoanMart today.

Letter to
Los Angeles Clippers Andy Roeser
Earlier this year, your Los Angeles Clippers made a big announcement: the team had signed a multi-year sponsorship deal with car title lender 1-800LoanMart. Because the Clippers specialize in basketball and not bad loans, the team might not be aware of just how much damage 1-800Loan Mart does in Los Angeles, in California, and beyond.

Car title loans in California are secured, installment loans that use borrowers' cars as collateral. The interest rate on a typical car title loan can be as high as 180% APR, even though the loan is fully secured by the borrower's car. Like payday loans, car title loans are designed to trap borrowers in costly long-term debt, forcing many working families to choose between making the high-interest payments on their loan or losing their car.

Car title lenders drain millions of dollars from working families in California every year, and put many families' only source of transportation in jeopardy.

The Los Angeles Clippers can and should do better. Clippers fans deserve better too. It is bad enough that 1-800LoanMart is able to charge triple-digit interest rates. But for the Clippers to embrace 1-800LoanMart's sponsorship suggests that these types of predatory loans are not only legitimate, but a good solution to a financial setback.

The Clippers organization has been in Los Angeles for more than 25 years, cultivating fans and building community and a reputation. Don't jeopardize that by partnering with the unscrupulous and predatory 1-800LoanMart. They are not worthy of playing in the big leagues.

We urge you to reconsider this partnership, and tell the world that the L.A. Clippers won't partner with companies that take advantage of their fans.

Sincerely,