Auto Title Loans In North Carolina

We often hear from people living in North Carolina interested in getting a car title loan. Most of these applicants would have no trouble qualifying for a same day loan, except that title loans are currently not offered in North Carolina.

Title loans are generally not allowed in NC as the state has some of the strictest lending laws in the country. Any direct lender must be licensed by the Commissioner of Banks and subject to inspections and other regulatory checks. In addition, title loans are not secured by real estate, so they are not considered collateral loans. Therefore, you cannot use your vehicle as collateral for a secured loan in NC.

Your Options For Carolina Title Loans

The fact of the matter is that title loans are all banned throughout the state. This includes large cities like Charlotte or Raleigh, where you cannot apply online or with a local lender. You may be able to get a title loan in South Carolina, Virginia, or other neighboring states. But you will still need to show some form of residency to qualify for Carolina title loans, and that isn’t easy if you live in Charlotte. In terms of what types of secured title loans are banned in NC, it depends on the state regulations. Generally, you won’t see secured loans offered for boats and motorcycles as you won’t be able to refinance a car title loan anywhere within the state.

Alternatives To A Title Loan In North Carolina

Other options are still available for people who live in North Carolina and need cash fast. Many companies offer payday loans and installment loans online. These loans can be a good option for people who need cash quickly and have bad credit or no credit history. Of course, these loans come with high interest rates and like title loans in Carolina, they may also be banned. But you might successfully apply online or with a local finance lender in Charlotte or Raleigh.

Summary Of Title Loans In NC

Ultimately, title loans are unavailable in North Carolina, but other lending options remain. The state laws and regulations may change, but for now, you are best served by looking at alternative lending resources. You can check out online title loans in other states or look into personal loans, payday loan offers, and more. Before signing any loan agreement, compare rates, fees, and terms. And always remember to borrow only what you can afford to repay on time.

For someone in Charlotte that’s looking for an online title loan, the fact is that you will not be able to tap into the equity in your car. Search for local personal loan companies in Charlotte and see if they offer installment loans or other bad credit loan offers that don’t involve your car title.

Even though Highway Title Loans can not help you with a secured loan in North Carolina, we will still gladly discuss your lending options and walk you through any questions that may come up. Don’t hesitate to contact our staff during normal business hours about title lending questions.