Can Registration Loans Hurt Credit Scores?

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YES! Registration loans are notorious for their short terms and their high interest rates. This means that the longer you have a balance on your registration loan, you will be acquiring massive interest fees. When you are in a financial emergency, more debt is the last thing you need. Registration loans are known to hurt credit scores if you are not careful.

 

How can registration loans hurt credit scores? Your credit score is made up of a number of factors payment history, how many credit cards you have applied for, and the balances on the credit cards that you have are some of those factors. Payment history, that is an important factor to look out for. When you acquire lots of debt it can be difficult to stay on top of unmanageable payment plans. This can lead to missed payments, late payments, and other circumstances that can hurt your payment history, which affects your credit score negatively. Thus, registration loans can really make hurt credit scores.

 

No one likes hurt credit scores. If you’re thinking about getting a registration loan, you may want to think again. Have you considered a car title loan? Car title loans can actually help improve your credit score. How? When you get a car title loan with Max Cash2, we will make a payment plan just for you using our convenient terms and competitive rates. When you stick to your manageable monthly installments, this will reflect positively on your payment history which can … wait for it … HELP IMPROVE YOUR CREDIT!

 

How to Get the Best Car Title Loan Without Making a Hurt Credit Score

 

Max Cash has a network of top notch lenders, which means that you only work with the best non traditional lenders in the industry. When you work with quality lenders, they can provide you with a title loan that can help you make your credit better which can even aid you in later financial endeavors!

  1. Click – Call – Visit

 

We offer many ways to get started on the car title loan process. You can simply go online to the Max Cash home page and complete a small information request. The entire thing should only take a few minutes to fill out and you will know practically instantly if you are approved.

The small information request will ask for some information like:

  • First and last name
  • Date of birth
  • Email address
  • Address at current place of residence
  • Phone number where we can best reach you
  • Year, make, model, style, and mileage of your vehicle
  • How long you have lived at your current residence (months/years)
  • Whether you rent or own at your current residence
  • Gross monthly income from your job (plus any additional employment)
  • Monthly income from other sources of personal revenue
  • Social security number or Individual taxpayer identification number
  1. Get Approved

 

After you have been approved your car title loan agent will be in contact with you to discuss your FREE QUOTE and some details that are going to be included with your car title loan contract. There are no fees not any obligation at this point, YOU DECIDE when to continue with the title loan process.
The Max Cash service is completely free, so we don’t charge you anything for connecting you with an amazing lender in your area.

Work with your car title loan agent and talk about competitive rate and convenient terms4, once you have decided to continue with your car title loan, your lender will request a few documents from you. Your qualified car title loan agent will inform you of everything you will need, but here are some essentials you should have on hand right away.

  • Government issued form of photo ID (something like a driver’s license, passport, or state ID would be perfect)
  • Proof of residence (For example, a piece of mail like a utility bill)
  • Proof of income (pay stubs, social security, and disability are all acceptable, talk to your agent about the other forms of income they accept)
  • Several photos of your car (Tip: Taking them outside during the daytime and from multiple angles will give you the best results)
  • Title to your vehicle with your name on it (Don’t worry if you cannot find your vehicle title or if your name is not the only one listed, your lender still may be able to help you)
  1. GET YOUR MONEY!

When your lender has processed your information, and received your documents it is time to sign your car title loan contract! You can sign your loan contract electronically to receive your money right away, and you can even stop by our licensed location to sign your contract and receive your money from a representative in person.

When you sign your loan contract, note that your lender will probably also sign onto your vehicle title as a lienholder, but this is only for the duration of your loan. Once you have paid off your car title loan balance you may have your vehicle title back.

In some cases, people have received their funding in as little as one business day, that could be you! Get started on your Max Cash inquiry now!