Title Loans in South Carolina

South Carolina allows title lending without caps on rates or loan amounts. The Consumer Finance Division oversees lender licensing. Borrowers should compare offers carefully and understand all costs before proceeding.

How Title Loans Work in South Carolina

South Carolina title loans work by using your vehicle title as security for a loan. You continue driving while the lender holds your title. Loan amounts are based on your vehicle's value, typically 25-50% of the appraised amount.

South Carolina Title Loan Regulations

The South Carolina Consumer Finance Division regulates title lending. While lenders must be licensed, the state has minimal restrictions on interest rates or loan amounts.

• Lenders must be licensed with the South Carolina Consumer Finance Division
• Maximum loan amount: No statutory cap
• Maximum interest rate: No cap
• Cooling-off period: None

Typical Terms in South Carolina

While terms vary by lender, here's what you can typically expect:

• Loan amounts: $100 to $10,000+ depending on vehicle value
• APR¹: Often 150% to 300% or higher
• Loan terms: Usually 30 days to 12 months
• Loan-to-value: Typically 25% to 50% of vehicle value