Need advice please [Archive] - Page 2

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01-19-2005, 07:14 PM

Sometimes to get ahead you get a little behind. Just commit to making it better.

JustROLLIN

01-19-2005, 07:30 PM

Sometimes to get ahead you get a little behind. Just commit to making it better.

I cannot believe I am saying this but...Nicely put Allan. I really have to agree with him on this one. Curb your spending on stupid shit and buy yourself something decent to drive. You will be happier in the end. I know I was.

IndiEP

01-20-2005, 02:03 AM

I hate debt too but certain types of debt are okay. In this situation I would say borrowing $$ wouldn't be bad depending on how much you borrow and what you buy.

Pimpin Dsmstyle

01-20-2005, 02:14 AM

I just bought IndiEPs old car. Im loving it. I will probably break it. It cost me 3k and i pay 102 dollars over 3 years ( ill complete it in less than 1). Point is, if you dont buy shit like smokes, fast food, movies etc, that 100 dollars a month isnt even NOTICABLE. Tell the bank you lend from that its for bills and car REPAIRS.

Kougar

01-20-2005, 09:47 AM

Ok, maybe i'll do that. The car I want is in a rather attainable price range (3-5k), so it shouldn't be hard to get a loan for that amount. I already have a bit of money saved up also. I don't buy useless crap anymore either, it's all cable bill, gas, insurance, food for myself (not junk), and soon a cell phone. I'm pretty good with my money :)

Also, I'm not familiar with loans. Would I be able to even attain one with no credit history? I'm 19 and don't own a credit card yet =\

01-20-2005, 12:09 PM

Pimpin Dsmstyle

01-20-2005, 03:04 PM

Get a credit card! It will help build your credit. I would get 2 and use them alot but pay them off right away. So Use them for stuff you would pay cash for and then have the cash to pay for the bill.

Otherwise right now for a loan your probably gonna need a co-signer without come collateral or VERY high intrest.

A credit card will not be enough. You need a certain amount of credit points, have posessions they can take, and have a certain DTI ( debt to income) ratio of like 45 % or less. Just have your parents co sign. I got a 12.5% rate.

01-20-2005, 03:07 PM

I know a credit card won't cut it right now for a load but if used correctly a credit card is the best way to build credit. But it can also be your worst nightmare. Just ask me how I know.

Pimpin Dsmstyle

01-20-2005, 03:13 PM

Your very right. A loan over at least 6 months + proper use of a credit card + renters credit will get you very VERY nice credit. This will allow you to get lower intrest rates, buy a house etc. I bet your card owns your laptop ;)

JustROLLIN

01-20-2005, 05:55 PM

A credit card will not be enough. You need a certain amount of credit points, have posessions they can take, and have a certain DTI ( debt to income) ratio of like 45 % or less. Just have your parents co sign. I got a 12.5% rate.

12.5?!?! Dude, that is terrible. I just got a 5.9 about one month ago. I did not have a co-signer either. But, I do have over 750 on my credit score.