Building credit is an m f'er

[smileyman]

What Smike said.

Go to the bank you check or save at, talk to a loan officer, tell him you want to open a big CD then borrow using it and a vehicle as collateral. Nail down terms.

If you have a relationship with that bank already the loan officer can get policy approval or waivers to do a 20 pct down auto purchase loan. I love those kinds of deals.

[shmike]

Originally Posted by Kaneman

2 Kids and three big ass dogs won't fit in a Corolla. And I'm reluctant to put money toward anything refereed to as the "Exploder." No man, if I'm putting $5k into something I'm getting what I want.

Josh, stop and think about what you NEED.

You NEED reliable transportation. You don't NEED someone's tossed aside family truckster.

If you NEED to be there for the kids (especially with the step-son right now) the dogs can stay at home.

If you NEED to haul the dogs, get a pick-up truck with a bench seat.

You can have whatever you WANT in a few years when you have a 750 Fico and can get a 0% loan.

[Kaneman]

Nah, you know how I roll, dogs are a big priority. A car is a long-term commitment, so I'm going to get what I need now instead of getting into something that doesn't suit my needs. Unless of course it becomes impossible, then I'd probably settle.

We do have one reliable car, but man is that thing tiny. (Toyota Celica)

[smileyman]

Shame your not closer, i would make you a great deal on an 04 T Blazer ext LT. 7 row and leather with 90K. You wouldn't have to borrow but 2K

[Rangerscott]

But a car is a depreciation unlike a house.

[Kaneman]

I know there's that whole anti-big SUV crowd, I get all that. But for the active lifestyle that my family lives, bicycling, dogs, camping, fishing, etc., we really do need a big vehicle. Not to mention all the lumber and supplies I have to haul to the house while we're upgrading it.

Now, to be honest a mini-van would probably fit the bill too and get a little better gas mileage...but I don't care, because I don't want one. But a Corolla, a Camry or anything like that would be a complete waste of money.

[CrazyKell]

Originally Posted by shmike

A car loan is secured by the car, making it a secured loan.

Originally Posted by Rangerscott

But a car is a depreciation unlike a house.

This is more what I meant. The bank has something of value to take back with a house. With a car...not as much.

[shmike]

Originally Posted by Kaneman

I know there's that whole anti-big SUV crowd, I get all that. But for the active lifestyle that my family lives, bicycling, dogs, camping, fishing, etc., we really do need a big vehicle. Not to mention all the lumber and supplies I have to haul to the house while we're upgrading it.

Now, to be honest a mini-van would probably fit the bill too and get a little better gas mileage...but I don't care, because I don't want one. But a Corolla, a Camry or anything like that would be a complete waste of money.

I'm not anti anything.

I like my vehicles big. The BIGGER the better. My small car recommendation was for cheap reliable cars that should last forever.

I know the Explorer has a bad rep but I would seriously consider one. My wife had one when we were dating. 180k on the clock and it still drove strong, all power options still worked and the air blew cold.

You should be able to pick up an early 2000's model for pennies.

[Cutty72]

Have the same issue with my gf. Shit credit when we got together, been working on getting it up, she's into the 600's now. Bank won't even give her a 3K loan securing it against her car that she owns, saying she doesn't have "established credit". She's got 3-4 cc's, cell bill, student loans, etc. Not sure what else she can do?

I feel your pain man.

[pauldun170]

I usually recomend folks stay away from used Explorers.
For 5G you have unches o bunches o options.