Auto Loan Car Finance and Credit

rjon17469 asked:


I’m currently 22 and am a senior in college (although I’m going for one more year and then possibly grad school). I would like the possibility of being able to buy a house in two to three years, and therefore am looking for ways to improve my credit. I opened a credit card ~9 months ago with a $3,000 limit. Currently the limit on it is $4,500, all payments have been on time, and the balance is my previous month’s purchases (around $100).

In reading, many people recommend having either one or two revolving credit lines, and one or two fixed credit lines, for a total of three lines of credit. My credit card is one revolving credit line. I’m curious if taking out say a four year auto loan and making payments on time would substantially improve my credit score three years from now. The loan amount would likely be $7,000 to $8,000, giving monthly payments of around or under $200, which I can realistically afford. I’ve been paying my own college tuition and rent since the second semester of my freshman year of college, so I somewhat have of a grasp of my expenses.

On a side-note, I’m under the impression that I would be stuck with the interest rate I initially receive. I could refinance, but wouldn’t that close out the line of credit and begin a new line of credit, potentially lowering my score?

The follow-up questions are, would it be in my best interest to open a second credit card for additional feedback on my credit history? Also, I currently have a good amount of student loans, all of which are in deferment until I graduate (if I attend grad school, they will remain in deferment through that period). Do these loans count towards my credit score as fixed lines of credit? Some are federally-funded, while others are through private institutions.

For what it’s worth, Credit Karma reported my credit score at 722 as of a week ago, and TransUnion reported it at 764.

Grimaud

Mcnizzle asked:

When Tax Season 2010 rolls around,I want to buy a used car.But my credit is somewhat bad.Not horrible,but not great.I am paying more than my monthly due on my credit card bill every month,and I haven’t missed a payment in more than a year.
I asked some friends about Auto Loans,and they said I most likely wont be approved for one without a Co-Signer.The problem is my Dad never established credit.He grew up a hippie,and he still is,so hes never gotten a credit card,or bought a house,or a new car.So he can’t co-sign my auto loan.
So how do i buy a used car from a dealership or a private seller,without an auto loan?

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Elijah asked:


My mother says, if her its car air conditioning system up, if her the car, so that it automatically up, if her your car up that it does pain the engine. Is that true or is full it from BS? Like complete BS sounds f? ? to r me.

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horseexpress2000 asked:


I am starting from the research different cars, because I need, around new a something fast. I wei ?, I mchte an used car that with small run achievement and is in good form. Autosecurity is likewise very important. Knnen it some web pages, itself well f the r the entire research and car car of offers? Thanks! I have 1990 Volvo combination and now mchte something hnlich, but newer and perhaps also not another Volvo to repair there her expensively and from what I have gehrt, the newer are not as good as the old.

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lifefairy004 asked:


I have two cars, and I owe 8000 on one 2002 vollstndig loaded Mazda Protege and then am I guiltily 17000 + to 2005 fully load Toyota Celica. I mchte the things to simplify and around g? ? a nstigeres car payment. Its Kinda that with difficulty f? ? r me now, over with maintenance. I htte gladly few a different one opitions then sell Mazda persnlich and trade in celica. I thought ? ? more ber the purchase of a used car trade and then both at the same time. Please give me some Beitrge.

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bramblerock asked:


My man supplies motor home f to r with Lebens-und needs zuverlssige car for pulling behind f r Hin-und R ckfl ge at home. It wants to separate not, the drive shaft each mark, like you to do have, in some cars, or uses you two Rdern a Dolly. This wre f r flat Schleppen. Thanks!

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Michael L asked:


Which the car or with the car enterprise makes cars with a sport SHIFT option. Or a sequential sport SHIFT. It is, if automatic car can do you, however a kind the manual car. Which marks companyies cars with this option, or comes grounds.

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peekay asked:


A Krhe is against the windshield wipers of cars in our Parkpltzen. It is obvious a new Gebude, and it nests beside the parking lot. It sits on the hood and pulls to the windshield wiper, until they come? ? this indication took each safe, simple and generally acceptable Ma? for completion? We want to avoid that everything becomes f? ? hren that its end!

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@13x asked:


Does someone have seen to go the new Smart cars? i dont like them. f? ? r me looks it like a car got that in the Hlfte. my mother wants to buy f? ? r me to one. Wade to DO u think it?

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bern7676 asked:


I wei ?, its a stupid question, but I saw a truck today with cars loaded and the T ren was so close to the Rndern, how humans know itself from the car, without the T r hmmern? And if they load the cars into sea-containers, how the people from the car, without the T r hmmern? Who wei ??

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Lilly L asked:


I am just starting out with brand new credit my father will be co-signing for my auto loan “his credit score is 760″ what is the fastest way for me to build more credit and will his credit help mine???

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