Auto Insurance Collateral Lender 
Credit Corp
JULY 20, 2020
In most states, your lender notifies the Department of Motor Vehicles—or BMV or other equivalent entity in your state—of the title change. If you don’t get your title a few weeks after paying off your loan, call your lender. You’ll need the title if you ever want to sell your car or use it for collateral when applying for credit.
Credit Corp
DECEMBER 4, 2023
Several different credit scores exist, but lenders most commonly use the FICO Score, which is a number ranging from 300 to 850. Maintain a Mix of Credit Types Lenders want to see a mix of credit types on your credit report. This type of credit card requires a cash deposit in the amount of the credit limit that operates as collateral.
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