Question about Credit??
II am looking to buy a new vehicle as soon as possible because my car now is about 10 years old and with my job I have to visit jobsite that require 4 wheel drive vehicles. So my question is how long after I payoff a loan will it showing that I have credit! See I have only ever had one loan and one credit card. The loan that I have I just paid off on 12/26/06 and I paid it off 2 years early will that help. And the credit card I have they stared me out with only being able to us it for $300.00 maximum and now 4 months later I can use it for a maximum of $800.00. Can any one please let me know if I will be able to get a new car soon!
I had a 4 wheeler loan my car was my graduation gift!
and dose it mater if I had a cosigner?
- Paula MLv 51 decade agoFavorite Answer
Go to your bank.....you've already had one auto loan, the 2nd should be easy......regarding your credit card......get a better one!!!!
Also, if your car is required for work.......start keeping all auto receipts (gas/repairs/tire warranties).....you will be able to claim quite a bit on your taxes.....especially the extended wear and tear....
get a file folder (durable) keep it in your car and keep all your car receipts in it........start noting mileage from job to job!!!
Don't get new, because your just going to drive it into the ground.....get a quality USED vehicle and pay it off asap!!
- mazziatplayLv 51 decade ago
The bad news is that your credit card debt has not been active long enough to establish a payment record yet. Your auto loan, on the other hand, is a great piece of credit history to have.
The good news is that auto financing is much easier to get than most other financing. Most dealerships have access to a number of financing options. I am certain that you will be able to get financed for a new car. The question is how do you get the most competitive financing available?
If you have access to a credit union, I would start there. In most cases credit unions will be able to offer you a better rate on long term financing for an auto. That said, some manufacturers offer some really great financing on new cars as incentive to buyers.
I guess what I am really telling you is to be assured that you can get the financing you need so be certain to examine all of your options not just the first one offered by the dealership.