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Started By
Message
re: Buying a new/used vehicle is retarded vs 15-20 yrs ago
Posted on 3/9/25 at 9:11 pm to SuckerPunch
Posted on 3/9/25 at 9:11 pm to SuckerPunch
What if you buy from Carmax?
0
Posted on 3/9/25 at 9:11 pm to TackySweater
quote:
It’s good for your credit score to carry some balances and show you are a responsible borrower.
Resd that again, slowly.
I'm irresponsible if I get a bonus and pay off loans accruing interest?
Posted on 3/9/25 at 9:17 pm to ChatGPT of LA
quote:
Resd that again, slowly. I'm irresponsible if I get a bonus and pay off loans accruing interest?
Maybe you need to read it again and process it? It ain’t hard.
Posted on 3/9/25 at 9:19 pm to VaBamaMan
quote:
Banks have gamed the system so if you pay off a car loan before 6 months have passed, its a red flag.
Crooks and Thieves!
Posted on 3/9/25 at 9:20 pm to ISEN_AG
quote:
One of the stupidest ideas humans have cooked up, and that's saying something.
Credit is great but it shouldn't be required to purchase something. If I want to buy a new car outright I should be able to do so.
Car dealerships act like you are the spawn of Satan if you don't want to finance. No I don't want to pay interest and no I don't want to make a monthly payment. I just want to buy the damn thing
Posted on 3/9/25 at 9:38 pm to SuckerPunch
Pay cash, problem solved/
Posted on 3/9/25 at 9:39 pm to Tr33fiddy
Dealerships figured out it's much more lucrative to become a bank masquerading as car seller than to be an outright retail outlet.
There's a reson usury is illegal in the Muslim world.
There's a reson usury is illegal in the Muslim world.
Posted on 3/9/25 at 9:43 pm to Tr33fiddy
quote:
Car dealerships act like you are the spawn of Satan if you don't want to finance.
I bought a car last year. Went to the dealership and made them assume I would be financing through them. Negotiated the price down a good bit. They were under the impression that I would be financing for 7 years. Told them my bank called at the last minute and approved me for a better loan and rate. They weren’t pleased lol
Posted on 3/9/25 at 10:24 pm to TackySweater
I did that last time… had the pre approval letter for the car from USAA with a 500$ pre-negotiated discount. haggled on price and got them to include the good floor mats. At the last minute whipped out that paper with extra 500$, they were not pleased.
Posted on 3/9/25 at 10:51 pm to TackySweater
quote:
It ain’t hard.
It ain't hard to be honest either punk. If you pay six months it's a done deal and it doesn't hurt your credit to pay it off.
Simply pay off the loan except for an amount equal to say, 10 mos of payments.
Dead bird, improved credit
Posted on 3/9/25 at 10:57 pm to TackySweater
How long will it affect your credit?
Posted on 3/9/25 at 11:07 pm to OleVaught14
quote:
Yep, just paid off my wife's car 2 years early and my score dropped from 810 to 775.
I had a credit card get cancelled by the credit card company because I hadn't used it in forever and my credit score dropped from 815 to 775. You would think not having credit card debt would be a good thing, right?
Posted on 3/9/25 at 11:13 pm to Spelt it rong
quote:
That's what they did to us on my wife's vehicle and are about to do to me. We usually put half down and sign a 4 year but pay it off in under 2. Credit score drops like a rock each time
I don’t know what yiu are talking about. I have near a perfect credit score and paid off nearly every big purchase early. It only goes up.
Posted on 3/9/25 at 11:15 pm to Monkeyboy
quote:
I had a credit card get cancelled by the credit card company because I hadn't used it in forever and my credit score dropped from 815 to 775. You would think not having credit card debt would be a good thing, right?
If it was a credit card that you held for a long time, and a large amount. It would hurt your score because you total open available line of credit dropped. That’s why your score dropped.
Posted on 3/9/25 at 11:23 pm to SuckerPunch
Buying a new or late model used vehicle, unless it's several years old and considered "vintage", is supposed to be a cash cow for lenders and the economy and interest rates. It depends on a lot of factors .
I was in the used car business several years but stopped after covid when a lot of car dealers went out of business in my area. Im now looking for a personal vehicle also and I have a wide range of things i'm looking at .
I was in the used car business several years but stopped after covid when a lot of car dealers went out of business in my area. Im now looking for a personal vehicle also and I have a wide range of things i'm looking at .
Posted on 3/10/25 at 7:16 am to Spelt it rong
quote:
We usually put half down and sign a 4 year but pay it off in under 2. Credit score drops like a rock each time
I did this just recently, however I did not see a drop in my credit score.
Posted on 3/10/25 at 7:27 am to Tr33fiddy
It’s all tied in with the entire
“Federal Reserve System”
The same system that needs to be wiped out!
The same system that dictates how the scores work.
If you pay your credit cards off every month, it doesn’t help your score.
BUT. If you carry a 25-35% balance every month, they will boost your score because your paying interest.
BASICALLY, if your not paying interest rates in this financial world, they are not happy & they will make sure your credit is suppressed.
The entire system needs to be torn down, CANCEL ALL OUR DEBTS to the Globalist Banking Cartel & tell them to come get it!
Frick those criminals!
“Federal Reserve System”
The same system that needs to be wiped out!
The same system that dictates how the scores work.
If you pay your credit cards off every month, it doesn’t help your score.
BUT. If you carry a 25-35% balance every month, they will boost your score because your paying interest.
BASICALLY, if your not paying interest rates in this financial world, they are not happy & they will make sure your credit is suppressed.
The entire system needs to be torn down, CANCEL ALL OUR DEBTS to the Globalist Banking Cartel & tell them to come get it!
Frick those criminals!
Posted on 3/10/25 at 7:29 am to SuckerPunch
Carvana brother.
Posted on 3/10/25 at 7:30 am to Westbank111
quote:
The same system that dictates how the scores work.
The Federal Reserve has nothing to do with credit scores
quote:
If you pay your credit cards off every month, it doesn’t help your score.
This is not correct. I haven't carried a CC balance in 15 years and my credit scores are all in the elite tier, and I usually apply for about 2 CCs a year and my score goes down with each and then recovers without carrying any balances.
I'm about to pay off my 2nd car loan of my adult life this month and I'll take a short-term hit and then have the scores recover without carrying balances the next couple of months.
quote:
BASICALLY, if your not paying interest rates in this financial world, they are not happy & they will make sure your credit is suppressed.
I've hit max credit scores a few times while never carrying a balance or having any outstanding loans other than SL
Posted on 3/10/25 at 7:33 am to CocomoLSU
quote:
how would paying it off right away (i.e. early) negatively affect your credit score?
Credit scores are retarded. My credit score went from 915 to 850. Because I paid off a vehicle, a boat and a credit card. Seems like it should go up in that situation.
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