South Carolina Car Title Loan Companies

The wholesale value of a car and which car title loan company is chosen are the two most important factors in determining how much cash someone can borrow against the vehicle title. Policies that determine how much a borrower qualifies for differ between lending companies. Most lending companies will only lend up to a certain percentage of the car's value.

Variable Car Title Loan Company Policies

There are thousands of different loan companies in South Carolina and throughout the country. Some lenders are more generous than others with how much they will approve for a borrower. This occurs for a variety reasons. For example, smaller lenders may determine that they cannot afford the risk of lending a high percentage of a car's value. Conversely, larger lenders may uses their size to offset such risk in an attempt to appeal to customers who require loans with larger limits.

Within the title loan industry, most lenders will approve customers to borrow around 50 percent of the value of their vehicles. Some will only approve 25 percent to 33 percent, however. A few lenders will approve up to 100 percent, but that is not common. Approving a title loan for 100 percent of a car's value is very risky for the lender and some of that risk will likely be passed onto the borrower in the form of even higher interest rates and fees.

Anyone seeking a cash title loan in South Carolina should apply online with Wilshire Consumer Credit. This lender promises speedy approval decisions and quick cash delivery.