You may at some point find yourself looking for ways to come up with a sum of money. If you just recently lost your employment or have car problems or past due bills, finding money on short notice can be very difficult if you don’t have a nest egg set aside to cover unexpected expenses. If you have close family or friends, it might be worthwhile to ask them for a small loan until you can get back on your feet. If that doesn’t pan out, you can search online for many small loan options. If you have bad credit, your options might be limited to things like cash advances and title loans. However, both are not equally as bad as some people make them seem.
Car title loans are perfect for people who need fast money but don’t have the best credit scores needed to get personal loans from traditional places like banks or other top online lenders. These are loans that come with short repayment terms and need to be secured by a title on a vehicle that you own and is in your name as the borrower. There can be no liens on the title and the car needs to have value in order to take out a loan on it.
To apply for South Carolina title loans with us here at www.titleloansonline.com, you will need to give us some information about yourself including your first and last name, your home address, the zip code and a way to contact you by phone. We will also require some information about the vehicle in which you are wanting to use as collateral. Please fill out the year, make, model and mileage of the vehicle as well. Once the form is completed and submitted, a free loan quote will be given. If you are happy with the terms of the loan, a nice representative will call you to go over the specifics of the loan with you and get you set up. Once you have been approved and agree to the terms, you can get your loan money sent to your bank account in as quickly as one day.
There are many rules that govern how any lender can give out loans to their customers. Along with many federal rules and regulations, each state has additional laws that all title loan lenders must also follow with how they conduct their business. Texas is no exception. Lenders must not give out loans that last longer than 180 days and the interest rate cannot exceed ten percent. However, there is no limit on the fees that can be charged. Laws are constantly changing when it comes to title loans. The new rules are brought about to keep borrowers protected from lenders who might try and take advantage of them and get them stuck in a vicious debt cycle.
There are many reasons why someone should consider taking out a title loan when they are in major need of quick cash. If you are on the fence on whether or not they are a good option for you and your money needs, consider the following benefits.
•Fast Cash – One of the more appealing benefits of taking out a car title loan is that they are very convenient and easy to get. You can apply online from home in less than an hour. After submitting the application and getting approved, you can get your money sent to you in one business day or even soon in some cases.
•Bad Credit Online Title Loans – You don’t have to have great or even good credit in order to be approved for a title loan. Most lenders don’t require credit checks in order to fill out the application. The loan is approved based on the collateral that you use in the form of a title on a motorcycle, truck, car, SUV or RV. As long as the vehicle has value and a clean title, you can get approval.
•Don’t Lose Transportation – An added advantage that most people don’t know about concerning auto title loans is that you can still drive your vehicle like you normally do. There is no need to drop your car off somewhere while paying the loan back or having to let it sit in your driveway until you finish your loan payments.