Do you mean car title loans? Because that's basically what the GPU-backed loans are. Car title loans have terrible terms due to the diminishing value of the car. These GPU-backed loans are being booked at much, much more favorable terms, as if the GPU holds its value for a long time. This simply isn't the case, so if the loan is defaulted on, the loaner will have a rude awakening when all they get are worthless GPUs.