Title Loans in Sumter, SC
Getting help with your debt is as easy as getting a title loan in Sumter. Title loans in South Carolina are a quick way to get the financial resources you need to pay off those overdue bills. Small loan amounts are granted to South Carolinians without the need of a good credit score. Unlike other financial aids, title loans in Sumter will be able to get you the money you need the same day you apply! As long as you are 18 years old or older you will be able to apply for a title loan quote with us. We serve many locations in South Carolina including title loans in Charleston for borrowers closer to the shore!
Free Application in Sumter
You will be able to apply for a title loan estimate with us online for free! Our application is very straightforward, with simple details about your vehicle which must include your vehicle identification number (VIN), you will receive a loan estimate. Another title loan requirement is a clear vehicle title. A vehicle title is granted to individuals who is the undeniable owner of the vehicle. Having a clear title is proof that your vehicle is fully paid off and may be submitted for a loan with a title loan lender. If you are unsure if your vehicle title may be used for a loan, you may ask our customer service representative about any specifications regarding the title loan. If your vehicle is closed to being paid off, you may also ask our customer service agents about title loan lenders that are willing to negotiate with the situation. Moreover, you must gather additional documentation to further this process:
- Photo ID
- Proof of income
- Vehicle title
The proof of income can come in many forms like pay stubs and/or bank statements. If you are currently unemployed or self-employed, you may present other forms of reliable income such as government aid, or receipts for service. In addition, your vehicle title may be picked up at:
South Carolina Department of Motor Vehicles
Address: 430 S Pike E, Sumter, SC 29150
Phone: (803) 775-8559
Regulatory Laws in South Carolina
Title loans laws in South Carolina are cited under Title 37 Consumer Protection Code, Chapter 3 Loans. This section clearly defines what loans are, and the rules and regulation that each title loan lender has to follow to ensure fair trade and practices. Each title loan lender must be licensed under the state to operate as a loan lender. After the contract is signed, it is the responsibility of the consumer to repay the loan under the terms written by the title loan lender. If under any circumstance the consumer cannot make the payment on time the title loan lender may add on delinquency charges. This only happens if the consumer is still unable to pay the full loan amount due within 10 days after the due date. The delinquency charge may not exceed 40% of five dollars. These charges may only be collected once on any installments for however long it remains defaulted. After the 10 day period, the title loan lender may collect more delinquency charges. Under Section 37-3-209, the debtor (consumer) has the right to prepay the full loan amount without any penalty. Vehicle repossession is an unfortunate case that a consumer may face if the loan is defaulted. A consumer may be given a set amount of days after the maturity date of the loan to pay the title loan lender back with the full unpaid balance. Vehicle repossession typically happens after this time period, the title loan lender has to legally notify the consumer of repossession but may not use any threats or force to take ownership.