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Friday, 24-Aug-2012 08:09 Email | Share | | Bookmark
Car Title Loans In Myrtle Beach, South Carolina: A Good Financia

If you live in Myrtle Beach, there are several places in which you can borrow money from. But when it comes to fast loans with little hassle, nothing beats a car title loan. Also known as auto title loans, car title loans in Myrtle Beach, South Carolina are short-term consumer loans that use car titles as collateral. The car title is used to secure the loan, so when it defaults the loan company who issued the loan can claim the car instead.

Although most people are put off by the fact that they will lose their car if they fail to repay the money they borrowed, car title loans does have its advantages that still makes it a choice to consider when you need money in a hurry. First, since it is already secured loan companies are far more lenient in approving loan applications. In fact, people with poor credit scores often turn to car title loans in South Carolina as it they are more likely to get their loan applications approved there than if they applied for a bank loan. Basically, all you need in order to apply for a car title is a car title, proof of income and some basic information about you and your vehicle. And if you have all of these requirements, there’s a very high chance that your application will be approved.

Another benefit of car title loans that you would not normally get from other types of loans is the speed of which you will get the loan. Application and processing of car title loans only takes hours, and once it is approved you can usually get the money on the next business day. You can also make the process even more convenient by applying for a car title loan online. There are lots of websites that offer car title loans in South Carolina, where you can fill up application forms and follow step-by-step procedures at the comfort of your own home or office desk.

How much money you can get from a car title loan depends a lot on the value of your vehicle (although due to South Carolina law you should not borrow less than $601). The newer the car is and the better its condition, the higher amount of you can borrow from the lender. You can usually get as much as 40% to 60% of your car’s current value on the market as a loan.

While you do put your car as collateral, car title loans can provide a respite from your financial troubles as long as you are capable of paying it off on time.


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