Re: Credit Improvement possible with this move?

Posted by mk_378 (164.106.129.130) on July 29, 2004 at 21:05:43:

In Reply to: Re: Credit Improvement possible with this move? posted by Boadicea on July 29, 2004 at 19:20:14:

I agree with Boadacea. The first thing the dealer said was true (get a better deal by having your dad the only signer), but only half of the truth. What he didn't say is that someone with excellent credit almost always will get a better deal with a third-party lender, even if it isn't a home equity loan. Dealers sell financing at a profit. The rest of what the dealer said was total BS intended to rip you off.

Go to another dealer and buy a car with your dad's cash. The best way to improve your credit is with responsible use of a couple of credit cards, even secured ones. Although subprime cards have fees, in the end it will cost a lot less than throwing big money away on a subprime car loan.

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