No matter where you go, what you buy, and even how much money you borrow, it seems there is always questions on what you're going to do with your money. Banks like to know what you're going to do with their money and like to be able to track it. They also often use big data to steer you towards different loan products that they believe match you, and online retailers and search engines often do the same thing. Pure privacy may not exist at 100℅ in today's world, but there are still ways you can borrow money including in cash and keep the privacy for what you use it for, and that includes auto title loans in Glendale, SC.
Auto title loans in Glendale, SC are run by independent agents and don't operate under the same rules as banks. In fact, there are few federal laws governing them and it's up to individual states to decide if they are allowed. Some states do not allow title loans, but South Carolina does. The way these loans work are probably most similar to home equity loans because just as you borrow against the equity in your home, you borrow against the equity in your vehicle. But there are a couple differences in auto title loans:
Basically, you will turn over your title to borrow cash against your vehicle and a lien will be put on it. The lien will be removed once you make all payments back to the title loan company. You typically can only borrow a fraction of what your vehicle would currently sell for, though you could potentially borrow up to half of that amount.
While most states that allow car title loans ask that lenders check for some way or other that borrowers can repay them, not all of them necessarily require lenders to confirm a borrower's employment or income. South Carolina does, and when you go to your local Spartanburg title loan center, you'll need to have employment and income information handy. The lender will also issue you a document separate from the title loan agreement that will basically state that you have taken out one of their auto title loans in Glendale, SC in good faith that you are able to repay it with your income.
If you understand how car title loans in Spartanburg work and want to use them for your personal needs, all you'll need is to fill in our online application here and gather a few basic documents to bring to the Spartanburg store. Your vehicle will also need to be brought to go through an inspection just to make sure it's in solid running condition. The following documents are what you'll need:
There may some additional documents such as copies of your vehicle registration and insurance that the agency may wish to see. You may want to call ahead and ask the title loan agency for all required documents to make sure your visit there is quick.