TitleMax Title Loans – 1738 Savannah Hwy
5.0
(304 reviews)
TitleMax Title Loans operates as a consumer finance lender that specializes in short-term collateral-based lending using motor vehicle titles as security. The organization’s model centers on leveraging vehicle equity to provide loan funding to borrowers who may have limited access to traditional credit channels. Historically, lenders in this sector emerged to fill gaps for individuals requiring rapid liquidity, often alongside regulatory oversight intended to curb predatory practices. Primary functions include underwriting secured title loans, disbursing funds, and collecting on loan performance through agreed repayment schedules. The operational scope typically encompasses storefront locations, standard loan products tied to vehicle equity, and compliance with state lending regulations applicable to payday-style and title-secured lending. The entity’s activities are framed around customer identification, vehicle valuation, lien placement, and title retention as collateral, with loan terms reflecting the risk profile of the collateral and the borrower’s ability to repay. This overview focuses on the organization’s nature, historical context, core operations, and scope as a title-lending provider.
Sources & References
TitleMax Facing Lawsuit Over Alleged High-Interest Title Loans
https://scfairlending.org/recycled-sections/f/titlemax-facing-lawsuit-over-alleged-high-interest-title-loans
TitleMax Facing Military Lending Act Lawsuit Over Alleged High-Interest Title Loans
TitleMax E-Commerce Credit Application | PDF
https://www.scribd.com/document/566269713/TitleMax-E-Commerce-Credit-Application
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TitleMax Title Loans - North Charleston, SC
https://www.yelp.com/biz/titlemax-title-secured-loans-north-charleston-2
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Services this business provides
Loan agency
Car finance and loan company
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Frequently Asked Questions about TitleMax Title Loans
TitleMax Title Loans in South Carolina have faced regulatory scrutiny for high-cost lending and compliance with the Military Lending Act. The CFPB has taken formal action against TitleMax entities in the past, including a 2016 order for predatory lending and debt-collection practices, and a 2023 action related to violations of the MLA, with penalties and consumer relief ordered. South Carolina lawmakers and fair-lending advocates have continued to push for stronger protections and a 36% cap on short-term title loans, highlighting ongoing regulatory interest in this sector.
For the most current status, consult South Carolina’s Department of Consumer Affairs and recent CFPB orders. Local store notices and state filings can provide store-by-store compliance information. The SC Fair Lending Alliance and consumer protection resources offer ongoing updates on enforcement actions and proposed reforms affecting TitleMax and similar lenders in the state.
For the most current status, consult South Carolina’s Department of Consumer Affairs and recent CFPB orders. Local store notices and state filings can provide store-by-store compliance information. The SC Fair Lending Alliance and consumer protection resources offer ongoing updates on enforcement actions and proposed reforms affecting TitleMax and similar lenders in the state.
TitleMax Title Loans in Charleston operates under South Carolina title loan laws, which regulate loan amounts, fees, interest, renewals, and default remedies for title-secured loans. SC law requires lenders to be licensed and to comply with specific terms outlined in state statutes, including limits on fees and the number of renewals allowed, with vehicle repossession as a consequence for nonpayment. For precise details on a particular location’s terms, consult the SC Department of Consumer Affairs or the TitleMax SC consumer rights pamphlet and local store disclosures. If you need official guidance, visit SC state codes 34-39-110 et seq. and related regulations.
TitleMax offers title loans secured by your vehicle’s title, plus unsecured personal loans in some markets. Typical terms for title secured loans include short repayment periods with monthly installments and potential vehicle repossession if default occurs; loan amounts often reflect a portion of the car’s value and terms vary by state and store. In Charleston, SC, you’ll likely find title loans and personal loan options at local TitleMax locations, with terms and rates disclosed during the application process. For precise offerings, visit a Charleston TitleMax store or their official site for SC-specific details. If you need broader context, TitleMax also discusses title pawns and unsecured personal loans as alternative products.
TitleMax Title Loans in Charleston is part of a nationwide franchise system headquartered in Savannah, Georgia. The company operates via owner-operator franchise stores under a centralized governance structure, with local store managers reporting to regional franchise owners and the corporate franchisor. For precise ownership details of the Charleston location at 1738 Savannah Hwy, refer to TitleMax corporate disclosures or the Charleston county business filings for franchise ownership records.
Short-term lenders in South Carolina are regulated at the state level and must follow the South Carolina Consumer Protection Code and the general state lending laws. Key protections include licensing and examination of lenders, required disclosures of finance charges and terms, and limitations on abusive collection practices. Predatory lending measures and potential restrictions on certain marketing practices have been discussed in SC policy debates, and provisions exist to promote financial literacy and borrower ability-to-repay before approving certain short-term loans. For specifics, consult the South Carolina Department of Consumer Affairs and the SC General Assembly code sections on short-term lending and consumer credit protections.