A car title loan allows you to get access to a part of your vehicle’s cash value in the shortest timeframe. Such a way of receiving fast cash is definitely not right for everyone.

In which case would you benefit from going for a title loan and when would it be wiser to pick another type of loan? After this review, you’ll be able to make an informed decision depending on your financial situation.

 

When To Go For A Max Cash Title Loan?

A max cash title loan can become a convenient way for you to get fast cash, in case you own the vehicle outright and you need a relatively big sum to take care of your emergency expenses. With online title loans, you would typically be able to qualify for anywhere between $601 and $15,000, if approved, which should be enough to cover the majority of urgent bills.

Such a loan can also be the right option for those who need to get their hands on the money as soon as possible. Some online lenders wouldn’t even require you to come to the store and you might get the money that you qualify for deposited into your bank account the following bank business day or, in some cases, the same day.

Who Should Not Choose A Max Cash Title Loan?

• You don’t own the car outright

You won’t be able to apply for a title loan if your title is not lien-free. In case you’re still paying off your vehicle or if there are any debts attached to it, you might want to consider another type of loan.

• The title does not have your name on it

You cannot qualify for a title loan if the document does not have your name on it. The good news is that the title can be transferred. You would have to pay a visit to your state DMV to initiate the process.

You should also consider that a title transfer can take up to 6 weeks. If the title has not only your name on it but also someone else’s, then you might be required to get the permission of the second person before taking out a loan.

• The value of the vehicle is too low

If your car is not worth much, taking out a title loan might simply not make sense. The lender can refuse your application if your vehicle is in bad condition or offer you a sum that is way lower than what you might have expected.

Before applying for a title loan, it is generally recommended to consult a few car value estimator websites to get a rough estimate of what you might count on. Remember that the lender would typically offer you around 25%-50% of the car’s value.

4 Reasons To Pick Carolina Title Loans, Inc.

Carolina Title Loans, Inc. is a reputable financial services provider that offers competitive title loans. With this lender, you might be able to get up to $15,000 as soon as the next bank day (or even the same day).

Here are a few other reasons why you might want to pick this company:

• You will get to continue driving your car while you’re repaying the loan.
• You wouldn’t have to pay a visit to the store to get the car inspected. The verification agent can come to a title loan location of your choice which might be right outside of your house.
• You will need only your vehicle, ID, and lien-free title to apply.
• It might take only 30 minutes to be approved for a South Carolina title loan from the moment you meet in person with the verification agent.

FAQs About Titles Loans In South Carolina

Is a Physical Inspection of the Car Necessary?

An experienced agent will be able to determine the value of your vehicle only during a physical inspection. With Carolina Title Loans, Inc. you wouldn’t have to spend your time driving to the store just to get your vehicle inspected – the verification agent will come to you.

Do I Need to Have a Checking Account?

You do not need a checking account to qualify or to get your money.

Can I Qualify If I Have Poor Credit?

The company will consider all types of credit. A bad or non-existent score won’t necessarily stop you from qualifying as the value of your vehicle and your ability to repay are the main decision-making factors.

Get Your Money Today!

A max cash title loan is not the perfect option for everyone. If you own your car outright, it’s in relatively good condition, and you need to take out over $601, then considering a title loan might be worth it for you.

With Carolina Title Loans. Inc, you may be able to receive the money the same or the following bank day, if you get approved. Ready to get your urgent cash? Then call 800-922-8803 or fill out a short inquiry form.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.