Title Loans in Florence, SC
Do you want to build your credit while you are taking out a loan? Take a title loan out in Florence today. Title loans are defined as a secure loan that takes your vehicle title as collateral in exchange for monetary assistance. Title loans are small loans that are commonly used for paying monthly bills. By having the financial opportunity to pay those bills, you are in turn building your credit report. Making on-time payments with any utility bill increases your credit rating which is better for you in the long run.
Florence Title Loan Online Application
To apply for a title loan quote, you must be 18 years old or older. We also provide you with a free online title loan application on our site. All you need to do is provide us with basic information about your vehicle, which includes the vehicle identification number (VIN), mileage, vehicle make, year and model. You will also need to give us a phone number we can contact you at. With this information, our loan representatives will get ahold of you to inform you on how to get your title loan contract. They will find a title loan site in Florence that is easy for you to get to, we also serve title loans in Sumter! At the site, you will need to bring:
- Photo ID (Driver’s License or State ID)
- Proof of income (Pay stubs or bank statements)
- Car Title
The vehicle is needed so the dealer can verify that it matches the car in the title. In accordance with South Carolina laws, they may also need to take pictures or take detailed descriptions of the vehicle.
Most of us do not have our vehicle title, to get it, you may visit your local Department of Motor Vehicles at:
Address: 3102 E Palmetto St, Florence, SC 29506
Phone: (843) 317-4007
South Carolina Code of Laws
South Carolina regulates vehicle title loan lenders in the state, and have laws in place to make it fair for both the lender and the customer. One law makes it illegal for a title loan lender to approve a loan amount greater than the market value of the vehicle given for collateral. They may refer to online vehicle appraisals such as Kelley Blue Book or NADA. If the vehicle is not listed under the guidelines, the title loan lender may determine the value of the loan you will receive on their own.
A vehicle title loan in South Carolina is typically a 30 day or one month loan period. The individual may request the title loan lender to renew the loan if they are unable to pay it off in that first month. It can only be renewed up to six times, and if the borrower is unable to pay it off in that time they will get their vehicle repossessed.
If you have missed a title loan payment, you will receive a notice from the title loan lender informing you of your right to cure the default. Legally, you have 10 days to pay the loan before the notice is sent out. You are allowed up to 20 days after the notice to pay the balance or else the title loan lender can declare default on your title loan for you. If default has been declared, the vehicle may be repossessed by the title loan lender. They may sell the vehicle to account for the rest of the title loan payment. If there is a surplus you will receive the rest of the money, however, if the vehicle does not successfully pay off your loan, you will have to pay the rest.