Q:
What is a Title Loan?
A: A title loan is a quick and convenient way for someone, who owns
their car without any liens, to get cash using their car as
collateral. It allows consumers to solve short-term cash flow
problems, without having to sell their car.
Q: What are the requirements to get
approved for a loan?
A: 1. You must own a car with a “clear” title.
2. The Car must be running and drove to our office.
3. Proof of a source of income/pay CHECK STUB.
4. Proof of residence/ power bill or water bill.
5. A government-issued I.D.
6. You must be at least 18 years old.
Q: What if I have bad or no credit?
A:You do not need good credit. Your credit will not be affected by
applying for a title transaction. WE DO not check your credit or use
your credit history in any way in the approval process.
Approval is subject to vehicle inspection and appraisal.
Q: Does the car have to be in my name?
A: Yes the car title must have you listed as the legal owner, if you
intend to use it as collateral for the transaction. If you are
listed on the title, along with another person, then you should call
the office, to determine whether or not the other person listed on
the title has to apply for the title loan along with you.
Q: What is the
minimum loan amount?
A: $601.00 is the minimum loan amount in South Carolina
Q: What is the
maximum loan amount?
A: Your maximum loan amount is based on the value of your vehicle.
Q: What
factors determine how much I may borrow?
A: We take various factors into consideration such as the year,
make, model, mileage, and condition of the vehicle. We will also
consider your debt to income ratio as well as your ability to repay
the loan and make the monthly payments. You should apply with
Freedom Title Loans even if you have bad credit or no job.
Q: What can I do with the money I
receive?
A: It is your money, use it however you would like!
Q: How long do I have to pay off the
loan?
A: 6 months to 24 months or more.
Q:
How long does it take to get a loan?
A: Need cash in a hurry? Title loans are a fast, safe and easy
way to get the cash you need in a hurry. You can get cash in as little as an hour or less!
We give you access to the equity that you've built in your car, truck, boat, motorcycle or
other vehicle. With a title loan from Freedom, you'll receive
fast, friendly and confidential service. We'll loan you the money
you need, and you get to keep the vehicle!
Q: When will my first payment be do?
A: Your first payment will be due 30 days after you receive your
money.
Q: How do I make my payments?
A: You may mail or bring your payments to our office. We accept
CASH, money order or payroll checks.
Q: Can I pay off my loan early without a
penalty?
A: Yes. you may pay off at anytime and because your interest accrues
daily you will save money. You can pay off any portion of your loan
at anytime.
Q: How do I get my title back?
A: Your title will be mailed to you immediately after paying back
the full amount due on your account.
Q: Why get cash from a title lender?
A: A title transaction enables you to acquire cash based on the
value of your car, without actually losing its use. The process is
based on the collateral, not your credit.
Q: Aren't title loans considered high?
A: Not if you consider, that title lenders do not base their
decision on credit. We don’t require collision insurance on the
vehicle used as collateral.
Q: What if I am late with my payment?
A: If you are seriously late or non-responsive, vehicle repossession
could occur. However, we consider repossession a last resort because
repossessions are expensive and time-consuming.
Q: What if I cannot pay off my account
balance?
A: Since you keep your car, you always have the right to sell your
vehicle to another party, pay off your account and the keep the
excess proceeds from the sale.
Q: I am
concerned about the personal information I give you; will this
information be kept safe?
A: Yes it will! We are concerned about your
personal information as well, and we are deeply committed to
protecting it. We go to great lengths to secure your personal
information. Please see our policies on
Privacy and Security for more information.