Help your credit?
2007-05-10 13:47:29 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
The biggest thing that will help your credit is to make your regular payments on time. Paying it off doesn't hurt, and it certainly helps if you pay say 25 out of 36 payments and pay off with the 26th.
2007-05-10 13:51:49 · answer #1 · answered by Fester Frump 7 · 0⤊ 0⤋
Don't worry about how paying off the car will help your credit.
Think about this. If you woke up tomorrow and you went to work and the doors were closed how would that make you feel? You would be scarred to death. Why in two weeks your car payment is due. Then you have to choose whether to pay for the car or your rent or food. Then you get frightened that they will come get the car. Give yourself some peace of mind and pay off the car. Then it will be yours. No fears about losing it. You will have the nice warm blanket of your name being the only one on the title to your baby.
After you pay off the car take that payment and continue to save it. In ten months you will have 3000.00 dollars that belongs to you in the bank. Keep saving this way when you get ready to buy your next car you can buy it with cash. When you have cash you rule the transaction. You are the boss. No begging the slimy guy at the car lot for a loan. You can keep your eyes out for that perfect car that you want and pounce on it when your ready. Not after your car dies and you gotta have a car now. Needing something now means you are going to overpay bigtime. Never buy new. Buy at least two years or older. Let some else take the but whooping on the depreciation. If your scared about repairs to older cars remember new cars break too. If your saving 300 a month you'll always have plenty to repair your car or just go out and buy another. Pay cash. Own your car. Be secure and be the boss.
2007-05-10 15:30:39 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It will help but it isn't the best way to improve your credit because you're going to be putting money back into the car. (gas, repairs, insurance)
2007-05-10 13:51:58 · answer #3 · answered by shorty 2 · 0⤊ 0⤋
20 per 1000 dollers do the math!
2007-05-10 13:49:49 · answer #4 · answered by Anonymous · 0⤊ 0⤋
hmmmmmmmm
probly not much
even at herb chambers honda
it has to do mostly with honest genuine interest paid for a good product
2007-05-10 13:50:29 · answer #5 · answered by Anonymous · 0⤊ 0⤋
It'll help it quite a bit if you actually keep your payments
If not... well then you are screwed
2007-05-10 13:50:37 · answer #6 · answered by Anonymous · 0⤊ 0⤋