When you are in urgent need of cash and can't get a conventional loan due to a low credit score, a pink slip loan, will use your car as collateral to get you the cash you need quickly.
With an equity loan, borrowers with bad credit must use their auto equity as collateral and provide their South Carolina title. Loans on the car must already or nearly be paid off to qualify. Then the lender becomes the lien holder on the title and will keep it until the loan is paid off. If you default on the loan payments, they will repossess and sell your car.
Don't Worry, if you want to take out an automotive equity loan but have lost or misplaced your pink slip. There are steps that you can take to get a new one issued. To replace a pink slip that is lost, stolen or destroyed, the owner can go to the local DMV to have it reissued.
Every state has different procedures. In South Carolina, the borrower must fill out two forms and returned them 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 sidecar door or dashboard. You will be charged a fee of $15 for the replacement service. For an additional $5, rush service can be requested, and within three business days you can have your South Carolina Title. Loans on the automotive must also be paid off or nearly paid off, in order to get a clear title.
If your state offers online replacement services or instant in-person title replacement, you're in luck, because this route can get a new pink slip to you right away. Getting your pink slip replaced is very useful when you're trying to borrow money for a car title loan and you have to give the lender the pink slip as collateral.
Wilshire Consumer Credit is a reputable lender that specializes in automobile equity loans. They operate in South Carolina and several other states and offer equity loans regardless of your credit score. If you have you have a clear South Carolina title, loans that use you automobile as equity can get you quick cash within 48 hours.
So if you require emergency cash, apply online and see how easy it is to get approved in minutes!