Bad credit can be something that weighs heavy on your mind, especially when you need a loan to pay for a financial emergency. Thankfully, you can get title loans with bad credit because the loan is secured with high-value collateral, meaning you can get cash fast regardless of your credit situation.

In this guide from Carolina Title Loans, Inc., we will explain how you can get a title loan in South Carolina with bad or nonexistent credit. We will also review how a title loan for unemployed people can help bridge the gap while they seek new employment and vehicle title loan benefits.

What Is A Title Loan?

A title loan is a secured loan that is backed by the fact that you own your vehicle outright. Your car title must be clear and in your name, and you can use it as collateral to borrow up to $15,000 in emergency cash.

There cannot be any liens against your title. The loan amount you get approved for depends on how much your car title loan estimate is. During the loan process, our loan specialist will inspect your vehicle and calculate a limit that you can approximately borrow.

How Does A Title Loan Work With Bad Credit?

Car title loans aren't approved based on credit history or score. They're also not determined by income level. Title loans are collateral loans and are approved based on the fact that you own your vehicle outright. You use your title to leverage the equity that you have in your car. 

That means you can get title loans without proof of income or needing a credit check. These factors do not influence your ability to get approved or how much money you can borrow.

No matter how bad your credit is, you own your vehicle. You can get cash from Carolina Title Loans, Inc. because we know you have an asset you can use to pay the loan back should you need to. You can get fast title loan approval whether you have bad credit or no credit.

What Are The Benefits Of Title Loans For Bad Credit Borrowers?

Bad credit borrowers who need quick cash for financial emergencies can benefit greatly from South Carolina title loans. Vehicle title loan benefits can allow borrowers to get the money they need fast without needing to go through a long, complicated process. Title loans can provide fast loan approval along with other benefits.

The following are some vehicle title loan benefits for bad credit borrowers:

• Quick access to funds: Unlike traditional bank loans that can take weeks to process, title loans can only take an afternoon. You can receive your money through direct deposit, meaning the emergency funds will be in your checking account the same day you apply or the next business day.
• No credit check required: We will not conduct a credit check, even a soft credit inquiry, at any point during the title loan approval process. Your credit score will never affect title loan approval or loan amount.
• You get to keep your car: You can keep your vehicle even while you're paying off your title loan. We know your vehicle is crucial to you. You can use your car title as collateral while keeping your vehicle throughout the loan term.
• Title loans do not affect your credit score: At Carolina Title Loans, Inc., we do not report our title loans to the three major credit bureaus. That means borrowing money with us will not lower your credit score.

How Does A Title Loan Work If I’m Unemployed?

You also don't need to be employed to get a title loan with us. You can get a title loan without proof of income. We work hard for our clients to make sure they get the money they need and secure a payment plan that works well for them.

We know that being unemployed does not mean you have zero income. Due to the nature of this type of loan, you do not have to show proof of income to get approved. We will exhaust every effort to work with you on payments and loan terms.

A title loan for the unemployed can help them while they seek a new job. You can use the money you borrow to pay for necessary bills and cover costs during your job hunt. After getting a new job, you can use your new income to repay your South Carolina title loan and get back on track.

How To Get Bad Credit Payday Loans In South Carolina

At Carolina Title Loans, Inc., we simplify the approval process for title loans to allow you to get quick access to cash. Fast title loan approval allows borrowers facing a financial crisis to handle their bills swiftly and avoid late fees, service disruptions, and other adverse situations.

The following are the steps in the approval process for title loans in South Carolina:

• Submit your key information online through an inquiry form
• Speak to a title loan representative over the phone
• Ask questions about title loans
• Agree on a meeting location, such as your home, workplace, or South Carolina title loan store
• Gather your required items and head to the meeting
• Have the loan rep verify your items and inspect your vehicle
• Sign final paperwork
• Receive your emergency cash the same day or the next business day

Frequently Asked Questions About Title Loans

How much can you borrow with title loans?

You can borrow between $601 and $15,000 from title loans in South Carolina. The value of your title loan depends on the condition of your vehicle. During the in-person meeting, the loan rep will inspect your vehicle for its value, as determined by its age, make, model, condition, and mileage.

How fast can you get approved for South Carolina title loans?

The approval process for title loans takes less than a day. The in-person process can take as little as 30 minutes, and those approved can receive their funds the same day or the next business day.

Can you improve your credit by repaying a title loan on time?

Those with bad credit cannot improve it by paying off a title loan. We do not report our title loans to credit bureaus. Paying off your title loan will not be reported to credit bureaus, meaning a title loan will not affect your credit score.

Apply For Title Loans In South Carolina – Get Approved For Up To $15,000 Today!

Bad credit title loans can help those struggling financially to pay for a financial emergency they cannot afford. Carolina Title Loans, Inc. offers title loans without proof of income and title loans for the unemployed. Whatever your financial situation, you can get approved so long as you own your car outright.

You can even start and finish the process today! Fill out our online inquiry form, and one of our loan reps will call you soon to guide you through our quick title loan approval process.

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