South Carolina Title Loans

To get a car title loan, also known as a pink slip loan, the borrower must turn over the car title to the lender. The lender becomes the lien holder on the title and keeps it until the loan is paid off. For those who want to take out a pink slip loan but cannot find their pink slips, there are steps that can be taken to get a new one issued.

Replacing a Title to Use It as Loan Collateral

If a pink slip is lost, stolen or destroyed, the owner can go to the local DMV to have it reissued. Every state has different procedures for this service, but most make it easy to accomplish. In South Carolina, there are two forms that must be filled out and returned to the South Carolina DMV either in person or online. The main piece of information needed is the Vehicle Identification Number (VIN#) that can be found on the driver's side car door or dashboard. A fee of $15 is charged for the replacement service. Rush service can be requested for an additional $5, and the pink slip will be delivered within three business days.

Some states offer online replacement services or instant in-person title replacement that can get a new pink slip to the owner right away. This is particularly useful when trying to use an automobile as collateral to borrow money, like you can with a title loan from Wilshire Consumer Credit. Operating in South Carolina and several other states, this lender specializes in automobile equity lending.