How Title Loans Work

Getting a personalized loan with a bank is often a hassle, and may take too long to process. An easy fix to this complicated process is to get a title loan in South Carolina instead. Vehicle titles can secure a personal loan for you without any stresses that you get from banks. The biggest benefit of a title loan is that you do not need to have credit to apply! Poor, excellent or no credit does not defer you from getting a title loan, so apply with us now to see how much you can get for your title!

South Carolina Title Loan Application

There are multiple title loan lenders in South Carolina able to assist you. No matter where you are, we will find a lender closest to your city. You can begin this process online, and submit an application through our site. We in turn will provide you with a free loan quote, and a customer service representative trained to assist you. They will address any and all concerns you have with getting a title loan. As well as let you know about any additional requirements to complete your inquiry:

• Minimum age requirement of 18 years old
• Proof of income which can come in form of pay stubs, bank statements, unemployment and other miscellaneous aid
• Car title
• Car under the title

You must find the local Department of Motor Vehicle or title services in your area to get and/or transfer a title to your name.

The vehicle is necessary to complete this process, and you are not required to leave it there. The title loan lender can adjust your loan amount because of the car’s condition, and that is the only reason you have to bring the car in. After signing the contract, you will receive payment in form of check, money order or cash.

Regulations Regarding Asset Loans

South Carolina governs title loan lenders under Title 37 Consumer Protection Code, Chapter 3 Loans. Before you are required to sign the contract, the title loan lender must make you aware of their policies on these loans. In the contract, they must express the interest rates involved, payment amounts and due dates, as well as a number to submit any complaints about the lender to. Since car titles are considered an asset based lending opportunity you are required to know about any repercussions that can be taken against you if you do not pay it off. Vehicle repossession is a possibility if you default your title loan. The title loan lender may charge you for repossession fees as well as storage fees if applicable to your situation. Even if they are taking your vehicle, you can cure this by first communicating with your title loan lender your possible inability to pay them back. They can notify you about paying off the full amount within a set amount of days. Title loans have a span of a month when it comes to the maturity date. However, you are allowed to renew it, and you may speak to the lender about renewal. If you have a title loan, you can also speak to them about refinancing. Refinancing will allow you a more relaxed payment plan to make it easier for you to pay it back. In most cases, the title loan lender will pay off the rest of the loan you owe, and offer you a new one. If you are being taken advantage of by your title loan lender, you can contact your local police department of the situation to investigate, or file a complaint with the Consumer Financial Protection Bureau.