Title Loans In Goose Creek, SC
There’s a lot of good that can come car title loans in South Carolina if you know what you are doing. When you get a car title loan, you are getting a short term loan that allows you a bit of breathing room for when your finances get tight. Using a clean car title with no liens against it, borrowers can have cash in the bank in as little as 24 hours.
The purpose of title loans is to make things easier when the unexpected happens. Title loans are collateral-based short-term loans that use your car as security for the amount you borrow. When you get a loan, your title goes to your lender as a form of security for your loan amount. Your title stays with your lender for the life of your loan, generally around 30 to 90 days. Once you’ve paid down everything you owe including financing fees, the title goes right back to you.
Title loans aren’t for long-term financial planning. What they do best is give short-term relief when finances don’t quite look the way you want them. Whether it’s unexpected bills or just life getting a little beyond what you can manage, title loans help Goose Creek residents get back on their feet when they need it most.
How Title Loans Work In South Carolina
Title loans are a pretty simple process. All you need to get started is a clear car title with no liens against it. You’ll get a quote from your lender, get some help working out the details, send your title off, and get your loan money quickly. In fact, many borrowers have their loan cash in as little as 24 hours.
As a borrower in Goose Creek, it’s not just easy to get a car title loan, it’s a safe and legal way of securing funding, too. Under South Carolina state law, title loans are subject to certain regulations, including:
- Loans may be for up to 50 percent of the vehicle’s value
- For loans under $600, the state caps annual interest rates at 25 percent
- Loans may renewed for a maximum of six times
- Every time the loan is rolled over, a separate finance charge may be applied
These regulations are set down to help both lenders and borrowers make the most out of their loans. Lenders know that title loans are often a lifeline for the borrowers, and they want to do everything they can to make borrowing as clear and simple as possible. That is part of why lenders are so eager to work with the state to help protect borrowers’ rights.
If you believe that you have worked with a lender that has not respected your rights as a borrower, such lenders should be reported immediately to the Consumer Financial Protection Bureau, as well as the Goose Creek police department.
Chief of Police for Goose Creek: Harvey Becker
Non-Emergency Phone Number: (843) 863-5200
To get a better sense of lenders worth working with, you can check licensing with the Division of Banking, or you can simply give our office a call. We know South Carolina title loans inside and out. If you have questions, we will take as much time as you want to answer everything and empower you as a borrower to make the best title loan decisions possible.We also serve title loans in Charleston if you are closer to the city. We can also get a title loan quote from the Goose Creek lenders borrowers trust most, and set you up with a loan that will keep you happy from day one. All you have to do is give us a call to get started with your title loan today.