I agree with Dave W above. Buy a car you pay cash for. A new car might seem nice, but you can buy a used car with more bells and whistles for much less money.
Buy a two thousand dollar car versus a $20,000 car and you essentially have $18,000 to use for repairs...(dave ramsey idea).
If you do finance a car, DO NOT finance longer than 5 years. I%26#039;ve seen dealers offering 84 month financing...that%26#039;s not a car loan, it%26#039;s a mortgage!.
Evan financing for 5 years, it is not until year 3 that you are at break even (car is worth what you owe) unless you put down a lot of cash up front.
When purchasing my first vehicle alone what is a good credit rating to have that wont hike up interest?
Over 700, but that%26#039;s not all they look at. If you have another installment loan that you pay on time, long history with creditors in good standing, no charge-offs, or delinquencies, and inquiries.....less is better.
You can get a free report from experian at freecreditreport.com
When purchasing my first vehicle alone what is a good credit rating to have that wont hike up interest?
when buying ur 1st car - buy a cash car.
cars are a deprciating (lose money) liablity.
u get charged $$ to drive something that loses $$ the minute u drive it off the lot.
visit dave ramsey .com look for and watch
%26#039;drive free, get rich%26#039; understand cars loans can cost u 200,000$.
debt is 21st century slave ry.
When purchasing my first vehicle alone what is a good credit rating to have that wont hike up interest?
740 and above.
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