Obtaining a title loan in Gastonia is an easy, and manageable way to get money in such a short notice. Common secured bank loans may take weeks to process, and in emergency situations waiting is not an option. The percentage of individuals living in poverty is higher in Gastonia than it is in the entire state of North Carolina. By statistic definition, you live in poverty if you make less than ,945 annually. For anyone, per hour of work in a 40 hour week limits the amount of money you can save up, and makes it even more difficult to support yourself. Title loans provide cash the same day you come in to apply, and by the end of the day you will be able to drive off cash in hand.
All it takes to get approved for a title loan is a clear vehicle title. You have to own your vehicle upright, but if you do not and are close to paying off the balance, we will still be able to work with you.
Application Process and Requirements
You must be 18 years or older to apply for a loan, and you must also have a copy of your vehicle title to exchange with the lender. To begin the title loan process, you can apply online. Simply input the make, model and vehicle year and we will give you a car title loan estimate. We match our appraisals with standards held by the Kelley Blue Book or NADA. For further inquiries, our trained customer service agents are there for you to get more information, and clear any misconceptions you may have about getting a title loan.
Bringing your car to the title loan site is a must. By doing so, the lender can evaluate the vehicle and increase or decrease the loan valuation depending on its existing condition. If you have already applied online, finalizing the contract will only take minutes, and you will receive a form of credit at the same time.
Title Loan Laws
Title loan sites near you are located in the state of South Carolina. The state has specific regulations in place to protect both the consumer and the lender.
Most importantly, on every contract, the lender must provide this disclaimer in font no smaller than 14-pt:
“THIS IS A HIGHER INTEREST LOAN. YOU SHOULD GO TO ANOTHER SOURCE IF YOU HAVE THE ABILITY TO BORROW AT A LOWER RATE OF INTEREST. YOU ARE PLACING YOUR VEHICLE AT RISK IF YOU DEFAULT ON THIS LOAN.”
Under section 37-3-413, a title loan falls under a short-term vehicle secured loans, which states that the lending period is at least one month. In addition…
- The lender can not renew the loan after an additional six periods
- A loan that is delinquent in payments past the six renewal periods may not accrue any additional interest rates
- A lender may not discriminate and provide equal opportunity to those regardless of income and occupation
- A short-term vehicle loan may not exceed the fair market value of the vehicle
- A lender will seek repossession of a vehicle if the borrower is unable to make any payment on the loan amount
- The lender may not offer a lower rate of interest in the additional renewals