Title Loans and Your Credit Score in South Carolina

Lenders review your credit history along with your vehicle's value, your income and your ability to repay. A lower score does not by itself rule you out, but approval is never guaranteed and terms depend on the lender's review.

Title Loans and Your Credit Score with Platinum VIP pricing

Every Platinum VIP loan — whatever the credit — carries a maximum APR of 35.99%. That cap applies to every loan we make to South Carolina residents. Always quick, confidential and easy!

Sample cost

$4,000 over 24 months at 35.99% APR: payment $236.16/month, finance charge $1,667.84, total $5,667.84.

Is this right for you?

A title loan is secured by your vehicle, so it should be used for real needs and only when the payment fits your budget. Ask yourself whether the monthly payment above is affordable alongside rent, insurance and groceries. If not, consider borrowing less or one of the alternatives on our responsible lending page.

Next steps

Check the requirements, review rates & terms, then apply. We work to make the process hassle free, so you can get back to your day.

Popular in: Mount Pleasant Lancaster Beaufort Hilton Head Island. Related: How Long Does the Title Loan Process Take? · How Lenders Review Title Loan Applications · Title Loans for Retirees and Benefits Recipients

More from the Platinum VIP team

Another option is to just skip going to the dealership and sell the car yourself. If you can find someone willing to front you the money, you can use the loan proceeds to pay off some or all of the remaining balance. If the sale proceeds do not cover the total amount that you owe, you will be on the hook for that. But, if you are able to pay it off using your savings, then you can get rid of the loan with negative equity.

Yes, it is possible to refinance a car with negative equity. But, it will be more challenging to find a lender willing to work with you. Additionally, your loan can’t be in default at the time of your refinancing request. Lenders will typically only work with you if your loan is in good standing.

Refinancing your auto loan could mean accessing more affordable loan terms. However, remember that taking on the new debt means that you are still adding the amount you owe to the principal of the loan. You may be able to increase the length of the loan term to get more affordable payments, but you are ultimately paying more in interest over the life of the loan.

Refinancing your loan with negative equity may also mean receiving higher interest rates due to the risk associated with the loan.

Don’t refinance your loan unless the terms are better than what you currently have! Otherwise, it may be smarter to just work harder to pay off your existing loan and get out of debt.

You can use your spouse’s income for a personal loan if you’re applying for a joint personal loan and your spouse is the co-borrower of the loan. Direct personal loan lenders may consider the combined income of both applicants (you and your spouse) to assess total repayment ability. However, direct personal loan lenders will not only consider just your spouse’s income.

APR disclosure: The Platinum VIP Title Loan carries a maximum Annual Percentage Rate (APR) of 35.99%, which includes the $15 South Carolina lien fee. Your actual APR, finance charge, payment amount and term are disclosed in your written loan agreement before you sign. A title loan is secured by your vehicle; if you do not repay as agreed, your vehicle may be repossessed. Borrow only what you can afford to repay. Loans are made by 1st Capital Finance of South Carolina Inc, the lender, 3420 Hwy 21 Ste B, Fort Mill, SC 29715. 1st Capital Finance of South Carolina Inc is licensed by the South Carolina State Board of Financial Institutions, Consumer Finance Division, as a Supervised Lender (License No. SL-1966027) under S.C. Code § 37-3-503. Loans are available only to South Carolina residents and are originated online. Submitting information on this website does not guarantee loan approval.