How a Platinum VIP Title Loan Works

A title loan uses the equity in your vehicle as collateral. We place a lien on your title while the loan is open; you keep the vehicle and keep driving. When the loan is repaid, the lien is released and your title is clear again. Here's exactly how the process works with Platinum VIP.

1. Apply

Start online with our short application. We ask for your contact information, basic income details and your vehicle's year, make, model and mileage.

2. Online vehicle review and title check

You upload photos of your car, truck or motorcycle (interior, exterior, odometer and VIN); we review them online and confirm the title is in your name and free of other liens. Value is based on condition, mileage and market guides.

3. Review your offer

We show you the loan amount, APR (never above 35.99%), monthly payment, number of payments, finance charge and total of payments. Take your time; ask questions. Nothing is final until you sign.

4. Sign online and get your money

We work to make the process hassle free, so you can get back to your day. You sign your agreement electronically and funds are sent to you once your loan is finalized.

5. Repay on a fixed schedule

Every payment reduces your principal. Pay early any time to save interest. When the final payment posts, we release the lien.

If you have trouble paying

Contact us before a payment is missed. We will review options available under your agreement and South Carolina law. Repossession is a last resort. Read our responsible lending commitment.

How title loans work

You fill out the online form on our site. This will tell us two things. One, who you are and how to contact you and two, information about the vehicle. We then use a couple of programs to figure out the value. Kelly Blue Book and sometimes Black book. These will tell the wholesale value of the vehicle.

Upon approval, your lender will ask you to sign a loan agreement. They will also verify the condition of your vehicle and the odometer, as well as be placed as a lienholder on the title of your car until the vehicle title loan is paid off.

In all cases our company believes that you should not take out more money than you need and you should know that car title loans are expensive and you may have other options than taking out this loan. You should consider ALL your options before taking out a title loan. Never take out more than you need and never take out a loan if you cannot afford the payments comfortably within your income.

If you can, never take a title loan out and take the full term to pay it off. The more you pay each month, the sooner you will be able to pay off your loan.

If you have having trouble keeping up with your title loan payments, reach out to your lender as they may be able to give you different terms or rates.

Your payment amount is determined by how long you take out the loan and the loan amount. Some people borrow to the amount they can fit in their monthly budget and not based on how much they need. An example is you are offered $5000 but you see the payment is $532.35 for 2 years. Way too high. You need it $100 less per month. The title loan company would write the contract for 42 months then. Longer terms lowers the payment but raises what you would pay in interest.

APR disclosure: The Platinum VIP Title Loan carries a maximum Annual Percentage Rate (APR) of 35.99%, which includes the $15 South Carolina lien fee. Your actual APR, finance charge, payment amount and term are disclosed in your written loan agreement before you sign. A title loan is secured by your vehicle; if you do not repay as agreed, your vehicle may be repossessed. Borrow only what you can afford to repay. Loans are made by 1st Capital Finance of South Carolina Inc, the lender, 3420 Hwy 21 Ste B, Fort Mill, SC 29715. 1st Capital Finance of South Carolina Inc is licensed by the South Carolina State Board of Financial Institutions, Consumer Finance Division, as a Supervised Lender (License No. SL-1966027) under S.C. Code § 37-3-503. Loans are available only to South Carolina residents and are originated online. Submitting information on this website does not guarantee loan approval.