I've *never* financed a car. I am 24 years old and even paid cash both of my S2000's (I traded one in for the other and just put the difference on a credit card which gets paid off at the end of the billing cycle).

Due to the fact that *everything* else I buy goes on a credit card, I have a lot of activity and a lot of GOOD credit history because of that.

I had NO problems getting a $150k loan for my house earlier this year, and my credit rating is close to 800 even though I'm only 24 years old. About the only way to get better credit than that is to be older and have a longer credit history.

Ricky




[QUOTE]Originally posted by CBeyond
I do this with my credit cards; pay them in full each month, but I don't think it's very smart to buy cars this way.

If you always pay cash for everything, then you don't develop any credit history.

 

agian almost every single one of you are posting YOUR buying experience. if YOU dont need it... GREAT! but there is a high percentage of buyers who DO. that was my only point. what dateline was saying is doing SOME people an injustice.

you owe: $15,000 for civic

book value: $13,000 which insurance pays

you are responsible for: $2,000 plus your $500 deductable

you now owe american honda finance $2,500 when you could have financed a $500 charge for $5 a month up front.

which would you prefer?? i no longer have anything to say here. if youve never been in a situation like this.... GREAT. but think about the thousands of people who do!

 

What ^ is pointing out is that Dateline program was like everything major media does half-assed at best. there are many situations where different programs work for different people's situations. one maybe of no value to you but could protect something else. the truth is it is up to yourself no one else to make sure you don't get ripped off!!!!!!


after all dateline did place explosives in the chevy/gmc truck

 

I need a job like that.