/ What are Title Loans in Myrtle Beach? /
Title loans in Myrtle Beach are opportunity to get immediate cash without a hassle. Title lenders ask borrowers to put up their car, truck or motorcycle as loan collateral in exchange for cash. The lender puts a lien against the collateral and holds the vehicle’s title paper while the loan is active. Once the borrower repays the money, they get the title back, and the lien is taken off their car. Title lenders believe collateral is good enough to issue loans without a credit check. Not only do credit checks add time to loan processing, they also block people with bad credit from being approved for loans. Title lenders want to help as many people as possible, especially those not served by mainstream financial institutions.
Qualifying for a title loans is easy for anyone 18 or older. They must use their own vehicle as collateral, and they need a job or some type of income so they can afford to pay loan installments.
/ Legal Information /
- Original loan terms must be at least 30 days.
- Loans can be rolled over a maximum of six times.
- Loan amounts are limited by the fair market value of the vehicle used a loan collateral
- A borrower can change their mind about a title loan and get out it if they pay back the entire loan amount within one business day of accepting the original loan.
- Lenders must give borrower written notice before repossessing a vehicle because loan payments are late. The borrower has 20 days to bring the account current.
/ Benefits of Car Loans /
Cash in your hands right away is a benefit that other lenders can’t beat. With title loans in South Carolina, your application is processed lickety-split so you get the money immediately. Most clients get their cash the day their application is submitted. Not having a credit check makes things go faster, and it helps people with bad credit avoid being denied a loan.
Flexible payment terms means you can get an extension if you need one. Tell us if you need additional time to pay off your loan, and we can roll the loan over so the date to pay it off is extended.