Title Loan vs. Unsecured Personal Loan in South Carolina

An unsecured personal loan relies on your credit profile alone, while a title loan is secured by your vehicle. A Platinum VIP title loan is repaid in fixed monthly installments over 6 to 24 months at no more than 35.99% APR. The trade-off: if you do not repay as agreed, your vehicle may be repossessed.

Title Loan vs. Unsecured Personal Loan with Platinum VIP pricing

Every Platinum VIP loan — whatever the comparison — carries a maximum APR of 35.99%. That cap applies to every loan we make to South Carolina residents. Always quick, confidential and easy!

Sample cost

$3,000 over 24 months at 35.99% APR: payment $177.12/month, finance charge $1,250.88, total $4,250.88.

Is this right for you?

A title loan is secured by your vehicle, so it should be used for real needs and only when the payment fits your budget. Ask yourself whether the monthly payment above is affordable alongside rent, insurance and groceries. If not, consider borrowing less or one of the alternatives on our responsible lending page.

Next steps

Check the requirements, review rates & terms, then apply. We work to make the process hassle free, so you can get back to your day.

Popular in: Summerville Lexington Mount Pleasant Lancaster. Related: Title Loans and Your Credit Score · Online Title Loans in South Carolina · Title Loans for Self-Employed Borrowers

More from the Platinum VIP team

You Keep Driving: That’s right, you keep your car throughout the duration of the loan, provided you keep making regular, on-time payments.

If you’d like to learn more about title loans and need money now, check out our FAQ page or apply online to connect with one of our knowledgeable agents.

Keep in mind that you will get out of the original loan, but there are drawbacks to rolling over your debt. This is due to the fact that it greatly adds to the total amount that you owe. Putting yourself even further in debt is not always the best option, because you are essentially financing a larger amount. That means paying more interest over time!

If you want to learn how to get out of a negative equity car loan, the answer is that it isn’t as simple as you might think. Generally, if you don’t want to trade in your car to a dealership, you have two main options.

The first option is to just tackle the loan head-on. While that can be easier said than done, it is the most effective way to get out of a loan with negative equity without taking on additional debt.

You may want to consider getting a side hustle or a second job on the weekends to make ends meet and put additional money towards your loan each month. It’s a smart idea to make more than one payment towards the principal balance of the loan per month in order to deal with the debt as aggressively as possible. Just make sure that if you get a second job, don’t let it overwhelm you! If you’re burnt out, your mental health can take a nosedive. Try to find the balance between working a side hustle and time to relax. If you decide to drive for a ridesharing service, it may be easier to work at your own pace and only accept rides or orders when you have extra time.

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.