/ What are Online Title Loans Spartanburg? /
If you own a car, truck or other type of motor vehicle, you have the main requirement for title loans in Spartanburg. Apply for the loan, and put up that vehicle as collateral, and the lender gives you a cash loan based on the value of your vehicle. While you’re making payments, there is a temporary lien on the car, and the lender keeps the vehicle title. After the loan is paid off, the lien is pulled, and the title is given back. Vehicle are good enough to secure the loan so that lenders don’t need to do credit checks. Even people with low credit scores can be approved by using their vehicle as collateral. Eighteen is the youngest an applicant can be to apply, and the applicant needs an income so they can afford to pay loan notes. Their income can be a regular work paycheck or another source, such as unemployment benefits.
/ Car Title Loans Spartanburg Application /
Our application for title loans in Spartanburg is actually just a few questions about your vehicle. We need to know the type of car you’re using and its mileage so we can assess its value. This is how we determine how much money to offer you, which we will tell you as soon as the application is submitted to us. If you like our offer and want the loan, we’ll finalize it as quickly as possible. Most loans are processed and distributed within 24 hours of the person applying.
/ Title Loan Legal Regulations in Spartanburg /
In loan documents, title lenders must include a statement about high interest charges. The statement is to be placed near the borrower’s signature. Loans must be for a period of at least 30 days and not more than 240 days. Borrowers can renew their loan up to six times. Title lenders can loan any amount their choose, but the amount must not be more than the fair market value of the borrower’s car.
/ Benefits of Spartanburg Title Loans /
- Approvals are based on collateral provided by the applicant, which is why loan processing moves so quickly. There is no reason for a credit check. This saves time because there is no loan representative looking over your credit report to see who you owe and the amount and whether or not you deserve a loan.
- Money is in your hands or bank account in less than a day in most cases.
- Going to pawn shop can get you cash, but it will be more complicated than getting title loans in Greenville and Spartanburg. First, you’ll probably need quite a few items of value to get the amount you need. Second, the pawn shops locks up all your stuff until you pay back their cash. It’s understandable for them to do this, but it’s not necessary for title lenders to keep your things. In fact, you only need one thing, which is your vehicle. Use it as loan collateral. We’ll give you cash, and we’ll let you keep the car.
- If you can’t make all the payments by the deadline, we’ll renew the loan so you get extra time to pay.