There are two different rates you need to be aware of when considering a title loan in Greenville:
- Interest Rates
- Loan Amounts
How Much can I get for a Title Loan in Greenville?
This varies based on a number of factors:
- Loan Terms
- Value of your vehicle
You can’t borrow more than the value of your car, and the actual amount you can borrow is determined by your ability to repay the loan1.
What are Some of the Other Advantages of a Title Loan?
Title loans are great short-term loan option for a number of reasons:
- There’s no credit check until the end of the application process, lenders are more concerned with the value of your car and ability to pay.
- There’s no lengthy application process, meaning you can potentially get your loan in one business day.3
- They may offer competitive rates and convenient terms, which means paying back the loan doesn’t have to be stressful.
You’ll need a qualifying car title in your name, as well as a few other items to get a title loan.
What Other Things do I Need to get a Title Loan?
There are only a few documents you’ll need to gather before you apply for a title loan:
- Qualifying title for the vehicle, with your name on it
- Proof of Income
- Proof of residency
- Government-Issued I.D. (Driver’s License, State I.D., Passport, etc.)
- Photos of the front, back, and sides of vehicle
What is Considered Proof of Income for a Title Loan in Greenville?
Many people think the only way to show proof of income for a title loan is through a paystub. It’s only one of the more common ways to demonstrate you can pay your title loan back. You can also show proof of income for a title loan with things like:
- Social Security
- Settlement/Court-Ordered Award
- Workers’ Compensation
How do I get a Copy of my Vehicle’s Title?
It may be possible for you to get a duplicate copy of your car title at a local department of motor vehicles (“DMV”). Some DMVs are even capable of providing you with an expedited copy.
What Happens if I Fail to Pay my Title Loan?
If you are unable to pay back your title loan according to the schedule you agreed to, you are usually permitted to renew the terms of the loan up to six times. If you do renew the loan, you’ll need to pay any interest you owe up to that point. You will also be responsible for any new interest that accrues. Each time you renew, the duration of the loan must be the same length as the original loan. And, the combined length of the original loan and any renewals must not exceed 240 days.
If your payment is ten days late, your lender must send you a right to cure notice stating that you have twenty days to pay the balance of your loan or the lender can initiate repossession of your vehicle.
If, after the sixth renewal, you are still unable to pay off the principle of your loan—it stops accumulating interest. The remaining balance is divided into six equal payments that you must make over the next six months, one per month.
For many Americans, including residents of South Carolina getting into debt has become unavoidable. From starting college to buying a house, using some type of loan may be necessary. These types of loans are planned but the need for them can occur unexpected. Loan refinancing is a step that a resident of South Carolina could take when they want to pay off debt. While at the same time loan refinancing may help people find better interest rates while they work on paying back their debt. Essentially loan refinancing in South Carolina works like this: taking out a large loan a new interest rate, then using it to payoff multiple debts, or another large bill with an unfavorable interest rate.
When to Consider Loan Refinancing?
A good time to consider loan financing may be when the following scenarios apply:
- An Individual has a hard time following monthly schedules for multiple loans
- When interest rates on existing loans/line of credit are extremely high
- More time is needed to pay off an existing debt(s)
- Refinancing would make it so all debts are paid off completely
- Multiple loans are being juggled
Even if these scenarios do not apply, loan refinancing may possibly have these benefits:
- lowering the monthly payments due
- lowering the amount of interest due
- shortening or lengthening the time needed to pay off debt
In other words loan refinancing may give a person the ability to control and choose how they want to pay back their loan in accordance to where they are financially in life. It may be a good option for many Americans who find themselves in debt from several different sources.
How to Go About Loan Financing in South Carolina:
There are a couple ways to go about loan financing in South Carolina. Here are a few common ways that people look to when thinking about loan financing:
- Credit Cards
- Payday loans
- Car title loans
When choosing a type of loan it is important to think about factors such as credit history, the value of assets, and the convenience of the loan type.
What is A Car Title Loan and Why Some People Consider Them, When Looking to Refinance Loans?
A car title loan is a loan where a vehicle’s title is put down as collateral for a loan. When the loan is paid back to the lender (and the contract is met) the borrower can then remove the lender from the title and completely own the car again.
Car title loans may be a good option if:
- An individual Has Poor Credit
- An Individual Has No Credit
- Money is Needed Very Quickly
- A Car is Someone’s Biggest Asset
- If a Large Amount of Money is Needed
Are Car Title Loans Available in South Carolina, and What Do I Need For One?
Car title loans are available in South Carolina and in order to get one, a person needs a couple of things1:
- A Government-Issued Photo ID
- Proof of Income
- Lien-free Title
- Vehicle Inspection (in-person, online or by pictures)
- Proof of Residency
Debt can happen to anyone in the United States. Most people have multiple debts at once. These all may have different rates of interest and terms of repayment. Many people find it helpful to merge their debts into one payment. By doing this, all debt will have one interest rate and repayment schedule. Loan refinancing is the option of doing just that. There are many ways that loan refinancing can be taken on, including a car title loan. Car title loans are a type of secured loan where a vehicle’s title is placed as collateral. These types of loans are available in South Carolina1.
Car repairs can be expensive, especially when they’re least expected and they happen to be major parts that keep your car running. If you find yourself looking for a title loan to fix a car in South Carolina, then you’ve come to the right place.
Title Loan to Fix a Car in South Carolina
If you need emergency funding to fix your car, getting a title loan might be your best option. Auto title loans allow you to get the funding you need without the hassle of traditional banking1.
How Title Loans Work
Using the qualifying title of your vehicle as collateral for an auto title loan, this allows you to get the money you need. Instead of basing your approval and funding off of your credit score, we use the title of your vehicle, your source of income, and the equity in your car to determine your eligibility and loan amount.
10 Expensive Car Repairs
Sometimes, it seems like the most expensive car repairs happen when you least expect it. Here are some of the most expensive car repairs that are rare, but when they happen, you should need to repair them as soon as possible.
Essentially, the catalytic converter is supposed to make the planet greener. It should last the life of the car, but many uncontrollable factors like your engine burning oil, the wrong oil or fuel additives, or running over something oversized.
Cost: $947-$2476 (89% parts, 11% labor)
Clutch Assembly Replacement
As it starts to wear out, you can normally get a fair warning before you need to get it replaced. There is no way to really prevent it except gentler driving, which we all know can be difficult with highway stopping and going. You could replace it by yourself, but it can be difficult without a lift.
Cost: $764-$1534 (25% parts, 75% labor)
ECM (Engine Control Module) Replacement
Ideally, this would last forever. Unfortunately, the computer can get damaged from things like someone trying to jump start your car improperly or shorting out during a stereo installation.
Cost: $440-$1623 (83% parts, 17% labor)
This part in your car is often taken for granted. When it’s dead, the entire car electrical system is dead. It usually needs replaced every 50,000-100,000 miles.
Cost: $500-$1000 (69% parts, 31% labor)
Fuel Injector Replacement
The fuel injector puts fuel into your engine. When they go bad, they stop working.
Cost: $642-$1671 (75% parts, 25% labor)
Head Gasket Replacement
These parts fit between the cylinder block and head to keep the combustion chambers, oil, and cooling system separate until they fail. It may not happen for years, but it is most common in old, infrequently used cars.
Cost: $1000-$1900+ (19% parts, 81% labor)
Timing Belt Replacement
It’s important to keep up maintenance and to not neglect the timing belt. It connects the crankshaft at the base of the engine to the camshaft at the top of the engine. For preventive measures, you’ll find yourself spending about $500-$900. The following price is for replacing a broken one.
Cost: $2000+ (29% parts, 71% labor)
There is rarely damage to the radiator unless you experience front-end damage to your vehicle or neglect the proper antifreeze mix. Before you replace a radiator, make sure it is the radiator that’s the problem when there’s a leak in the coolant. There are many other parts that could also be causing it – cheaper parts.
Cost: $400-$800 (42% parts, 58% labor)
The one job of the car is to run and start, and when it doesn’t start, you’re left hopeless. The starter is what you need to get the car running, so when it dies, you have some problems. Most of the time, you can go years without any problems.
Cost: $300-$800 (76% parts, 24% labor)
Water Pump Replacement
It may be small, but it is a vital part of the cooling process. It may need replacement after 50,000 miles, but it could also last longer or never fail. When it does fail, the coolant doesn’t get pumped into the engine, so it starts to overheat. This could cause a whole mess of problems.
Cost: $300-$750 (27% parts, 73% labor)