Ask Terry Questions Car Loan v. Credit Score

Car Loan v. Credit Score

By Terry Savage on February 27, 2025 | Credit/Debt

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.

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