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Originally Posted by s1ngletracker
my vote is get something you don't have to get a loan on. The premise of doing it 'to build credit' is weak IMO
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Quote:
Originally Posted by Halon
+1 I've had 1 car payment in my life (when I was 19) and didn't like that. Won't ever do it again if I don't have to. But different strokes for different folks.
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I don't plan to get a loan for a car I can't afford. I plan to get a loan on something I can pay off easily. It's unfortunate (but understandable) that you start off with zero credit and have to work your way up. I've gone 24 years without needing a credit card and I still don't need one. But if I plan to buy a house in the future I need to start thinking about credit.
I'm obviously not buying a new car solely to build credit...I'm just killing two birds with one stone.
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