If you are confused that why credit checks are not a part of loan procedure and how do car title loans Anderson work, then let us explain you here?
Firstly, as you know these are short term loans and the borrower uses title of his car to get the loan. And this almost sums up everything about these loans. As title of car is used as collateral, and during documentation, lender asks the borrower to submit documents like proof of residence and proof of income. So, borrower gets to know that the borrower is resident of the SC and has an income source, so he will be able to pay the loan back.
However, if in worst condition if the borrower fails to pay the amount back then the lender can claim your car and use your car to recover the given amount. In such instances, it doesn’t matter that whether the borrower has a good credit score or a bad credit score. So, there is almost nothing that is fishy about these cash title loans. You can also read the other terms and conditions about the loan and lender on their website. You can find out whether the lender charges any late fees when payment gets delayed or you have to pay prepayment penalty if you decide to pay the loan amount beforehand. To know more about Title Loans in Anderson us with below details.
Mon-Fri: 9AM – 6PM & Sat: 9AM – 1PM
Loans subject to our most liberal credit policies which may change from time to time without notice.