New CR-Z or Old civic?

[slowbubblecar]

If you really truly think that getting a loan and making your payments in full and on time for however many months the loan is for will ruin your credit then may the lord have mercy on your soul.

Apparently he doesn't know that auto leases go on your credit report as well... They take your credit rating into consideration when leasing as well.

[polishmafia]

gay * gay= straight

2 negatives equal a positive right pete?

-Colin

No just means you go for double penetration. Gay stable!

LOL!

Colin, I told you to buy a beater. Any POS Honda that needs any kind of parts are pennies on the dollar. Good luck with the CRZ. Don't park across any lines. ;)

[Perkul8r]

A guy at work just bought a CRZ. i dont mind it. It does remind of the crx a little. But its everyone opinions on the car.

[Kracka]

So many people fail to see beyond the monthly payment and think about the long-term. It's no wonder why the majority of Americans are in such poor financial shape :)

[Matt D.]

So many people fail to see beyond the monthly payment and think about the long-term. It's no wonder why the majority of Americans are living the American dream. :)
Fixed that for you. :lol:

[cudvig]

I realize it will go on my credit report, but once I return the car on lease it will then go off, Correct?

I checked into insurance and it is 97 a month or just over 600 for 6 months for my miata and the CRZ.

[slowbubblecar]

I realize it will go on my credit report, but once I return the car on lease it will then go off, Correct?

I checked into insurance and it is 97 a month or just over 600 for 6 months for my miata and the CRZ.

The payment will go off your credit report, but the history of your payments will stay just like a loan would.

I would get your insurance quote in writing for the honda. My original quote was less than it came out to be. Not sure if it related to the model or what, but I also have many cars in my name and haven't had any accidents the past 9.5 years of driving.

[Halon]

Why would I take out a loan, worsen my credit, pay 300+ a month, and then who knows in 3 years if that car will be worth the same amount as the loan. Then try and buy a house, oh wait my credit sucks, back to square one.


I realize it will go on my credit report, but once I return the car on lease it will then go off, Correct?



Are you under the impression that a loan hurts your credit rating? Unless you plan on being late on your payments constantly, an auto loan will help you BUILD credit if you are responsible and make your payments on time. Simple really...

[Kracka]

Are you under the impression that a loan hurts your credit rating? Unless you plan on being late on your payments constantly, an auto loan will help you BUILD credit if you are responsible and make your payments on time. Simple really...
Correct. As long as you make your payments on time and you haven't over-extended yourself a loan on your credit report will do nothing but help. Think of your credit as eBay's feedback rating system...every time you do any sort of financial transaction that's tied to your SS# your credit score can go up or down. Make payments on time and live within your means and it'll go up, skip payments, take out more loans than you can afford, etc. and it will go down.

Both my wife and I have credit scores in the high 790's which is very rare for someone in their mid/late 20's. We've each had a few car loans and credit cards, then the typical apartment leases, nothing fancy, but we've both been very diligent about living within our means and making payments on-time our entire lives. I got into a little credit card debt my sophomore year of college but I always paid my bill on time and at the very least paid double the minimum payment required.

[cudvig]

I just feel like if the civic somehow breaks I am going to be SOL.

I am not putting any money down on this car so if it gets totalled or anything I am still
good in that aspect. I also really don't want to deal with selling a car. I absolutely hate it!
I have an extra thousand dollars to play with each month after all my bills are paid and money that goes into my IRA I have a well established blanket so if I lose my job I can still afford things a year out. I am not some dumb kid who wants a new car. I just need to sell my shell and civic and I will be fine. Just too many cars.

I will look into taking out a loan for the car. I do understand that I am paying more than what the car depreciates. I'm playing 11k for a 22k dollar car and it should be worth about 68% after 3 years from now.

Just want the least possible payment for a brand new car that's all.

-Colin