You typically don’t get a warning before a financial emergency strikes, and although the goal is to have an emergency fund large enough to cover any possible expenses, this isn’t always realistic. People find themselves short on cash all the time, but fortunately, there are title loans in Mount Pleasant to help with that. A title loan is a way of using your car’s value to get a loan, which means the only requirement is that you have a car.
You can get a title loan very quickly, making it the best option if you need a same day loan. As far as how you can use your loan, that is 100-percent your decision. You could use a title loan to pay for a business launch, auto or home repairs, medical bills or any other expense that you run into. The title loan company issues the loan, but leaves how you spend it entirely up to you.
Finding a title loan company near you is often the part of the title loan process that takes the longest, but we make it easy to find title loans in Mount Pleasant. We created a quick, convenient online title loan application that you can probably fill out in under 30 seconds, and the form is available here on our site. First, go to that application form and put in this info about your car:
• Approximate Mileage
After that, enter the following basic contact info:
• Your full name
• Your phone number
• Your ZIP code
That’s really all that we need from you, and to give you an idea of the amount of money you’ll be able to borrow, we’ll provide a free title loan estimate after you complete the form. We’ll also tell one of our helpful loan reps to call you at their earliest convenience and answer all your questions about title loans. The loan rep can also put you in touch with the nearest title loan company.
Besides its age minimum of 18 years old for a title loan, the federal government hasn’t set up much in the way of title loan laws, instead giving states the latitude to do that on their own.
South Carolina title loan companies typically make title loans for over $600 because of state lending laws, and the most common title loan amounts are anywhere in the $601 to $2,500 range. The minimum initial title loan term is one month and the maximum is 120 days, but most lenders will stick with a month. Renewing your loan for a new term of the same length is allowed and just requires you to pay at least the interest on it. The maximum title loan length with renewals is 240 days, but when you hit that mark, you can spread out payments on the loan principal for up to six months if necessary.
If you default on your title loan by missing a payment, the lender must first send you a notice after waiting 10 days. After you receive this right to cure notice, the lender must wait another 20 days to give you time to catch up on what you owe. If you don’t do that, then the lender can take your car and sell it.
You don’t need much to get a title loan – just a valid ID proving you’re at least 18, your car and its title. Financial documents and verification of your income aren’t required, and there’s not even a credit check involved in the application process, which means a bad credit score won’t be a problem here.
Although your car will be the collateral that secures your title loan, the only item the lender has during the loan’s term is your car title. You keep your car while you pay off your loan’s balance, and you can still drive anywhere you want. Title loans are all about flexibility, and if you need more time to pay back your loan, renewing it is a convenient solution.