Apply For Auto Title Loans In South Carolina
It’s not always easy to borrow money when you have poor credit and need more than a few hundred dollars. Here in South Carolina, it can be tough to find a personal loan lender, but what about a company that offers cash for the equity in your car or truck? With a vehicle title loan, you can borrow $1,000 or more and start your application online or call us at 877-433-5454.
Highway Title Loans offers fast online title loans in South Carolina to anyone with a lien free vehicle. We work with licensed lenders in SC, and there’s no reason why you can’t be funded in one day or less if you have a car that’s titled in your name. These secured loans are ideal for borrowers needing upwards of 10k, and you don’t need a good FICO score to be approved!
What Do I Need To Qualify For A Title Loan In South Carolina?
You must own a newer vehicle to get a title loan in South Carolina. That vehicle is best suited for a title loan if it has less than 150,000 miles and no significant mechanical issues. You will need your title and proof of employment or income verification title, and some companies may ask for references from friends and family. If you qualify here at Highway Title Loans, we will start by processing your application through our website or over the phone.
You can also meet with a direct lender in Charleston or Columbia. These are two of the largest cities in SC, and we have registered agents available who will conduct a vehicle inspection in person, often in 24 hours or less. No matter how you apply, an auto title loan can be processed within the hour, which means cash in your hand that same day!
Do I Need Good Credit To Get A Car Title Loan in South Carolina?
One of the best features of a title loan is that you can be approved with bad credit, and in fact, many of our customers have FICO scores well under 650! Lenders are more concerned about your vehicle’s equity than your credit history and tend to look past missed payments on a personal loan or credit card.
Some title loan lenders in South Carolina require that you have a minimum of $1,000 in equity from your vehicle, while other lenders that offer pink slip loans will need higher equity amounts. Either way, they will look beyond your bad credit and instead focus on how much collateral you have in your vehicle.
What Kind Of Vehicle Can I Use For A South Carolina Title Loan?
Any newer vehicle can qualify for a title loan if it’s paid off and in your name. It can be a standard car, truck, SUV, motorcycle, or boat, and you can even get a title loan for an RV! Vehicles with a model year of 2015 or newer will typically qualify for the highest loan amounts.
Expect approval for a loan based on 30% to 50% of the vehicle’s value. That means a title loan company in South Carolina will offer a loan of around $6,000 for a car valued at $10,000. They may offer more in some situations, but lenders typically want a cushion in the total amount of equity they let you access. That way, they’re covered if you default on payments or face a situation where the vehicle is repossessed.
How Much Money Can I Get With A Title Loan In South Carolina? What are the rates?
In most cases, title loans in SC are available from $2,600 to $15,000. These amounts can be higher in metro areas like Greenville, Columbia, and Myrtle Beach, where there’s more competition among lenders and resale values tend to be higher. We look at your vehicle’s value to determine the maximum title loan amount you can qualify for. Most title loan companies in South Carolina also factor in your income and relevant credit history when deciding what interest rate you should expect.
Title loan interest rates in South Carolina depend partly on your credit history, monthly income, and the equity in your vehicle, but you should count on an APR that starts at 35%. If your credit isn’t great, then the risk of default increases, causing title lenders to demand a higher interest rate or APR that can approach triple digits!
Apply With Highway Title Loans And Get Your Cash
Once you’ve applied online with Highway Title Loans and provided all the necessary documents, it only takes a few hours to underwrite the application and develop a lending quote and repayment terms. After an initial estimate, your lender will want to inspect the vehicle and confirm everything with your estimated payments and rate. You’ll sign a lending contract and sign over the car’s pink slip to the lender. After that, the lender will often send cash through direct deposit to your checking account or savings account within a few hours, and some customers can pick up their funds in cities such as Rock Hill, Sumter, and Spartanburg.
We have funding amounts available for any vehicle value and budget, so don’t hesitate to apply today! Complete our online form or call us at 877-433-5454 for more information about title loans in South Carolina offered by Highway Title Loans!