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car title loans Chester

Title Loans in Chester, SC

As the seasons are changing and the weather is getting colder, most of us think about the good times spent with family during the holidays. Unfortunately, along with the cold weather also comes illnesses including cold and flu symptoms, and while the economy is now doing well, the cost of healthcare and prescriptions is still high. Along with holiday costs and keeping your South Carolina home warm for the winter, buying medicine and going to the doctor's office can be difficult on your budget. But if you do need help buying medicine, you should look at car title loans in Chester, SC.

What Collateral Involves In Car Title Loans In Chester, SC

One thing about car title loans in Chester, SC is that they can be helpful when you need to get cash quickly and don't want to have to deal with all the long approval risk assessment factors. Instead of borrowing money based on your creditworthiness like most traditional loans require, borrowing money with title loans is borrowing with collateral. A car collateral loan means your car or motorcycle is offered as a guarantee of payment, but this doesn't mean that you turn the car over to the lender. Instead you turn over the title, the document mailed to you by the DMV stating that you're the owner. The process of doing this is much quicker than having to go to the bank and get served large paperwork in order to get a loan.

Factors That Are Calculated Into Car Title Loans In Chester, SC

One reason car title loans in Chester, SC are a little better than payday or short-term installment loans is because you usually can borrow more with them. Since payday loans are typically based solely on your weekly or bi-weekly income, you usually only get to borrow a few hundred dollars. But car title loans are based on several other factors, the most important of which is your vehicle's market value which is based on its year, make, model and mileage. Your debt-to-income ratio which takes your monthly income into account with what you're borrowing is also factored in. If your vehicle is worth $10,000, you may be able to borrow up to $5,000 if your monthly income allows it. You'll also be given at least 30 days to pay off your title loan.

What You Should Do First To Get Approved For A Title Loan In South Carolina

If you have completed paying off all payments needed to own your vehicle, then you're practically already qualified for financing through car title loans in Chester, SC. It's really just a matter of getting an appraisal done on your vehicle before you can borrow title loan cash, but you should make sure you have the right documents including a state-issued photo ID, the title and an income document. That's because South Carolina has the following laws in place that state the following:

  1. You must be 18 or older to use your vehicle for a title loan
  2. You must not have any liens on your title
  3. You must be able to prove you have income

Complete our online car title loans Rock Hill application first. Then you'll be contacted and directed to a title loan agent near you where your vehicle will be appraised and the final application steps will be completed.