Car Loan v. Credit Score
I have enough money in savings to buy a car (used, or even new) outright. Does it make sense to finance the vehicle (most likely through a bank) in order to establish a pattern and to demonstrate the ability of paying off a loan? My credit score is above 800, and I have good track records with two credit cards for more than 30 years. But I do not have a mortgage, or any long term history with rent or utilities, or other loans.
Terry Says
Pay cash and make your best deal!