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The Terminator
Terminator Talk
Question about getting a cobra.
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<blockquote data-quote="T800" data-source="post: 11336035" data-attributes="member: 130230"><p>This is true...but the irony is that the the only way to build credit is to be <strong>IN</strong> debt. OP, you are on the right track...put a big chunk down to keep your monthly payments low. Your insurance will probably be high, but not crazy 2-seater 'Vette high. </p><p></p><p>Try to keep the term(number of payments/months)low so that you can pay the car off as soon as possible. It will also help keep you ahead of the depreciation slide. I got 4.5% interest on my car with my credit union...try to join one, there are usually all kinds of benefits to doing so.</p><p></p><p>At your age, you want to have some revolving debt to help establish yourself in the credit world. Be sure to make your payments on time and you will be fine. This goes hand in hand with keeping your payments low. I pay $175 a month on my '03(put $10k down), if I lost my job or had money problems its alot easier to come up with that, than $300-400+ every month.</p><p></p><p>Next, BE PATIENT. I waited 7 months to find my car and 3 weeks after I bought it, a Sonic Blue '03 with 19k miles on it sold for $18k. I love my car, but damn. :whine:</p><p></p><p>Good luck and be sure to post pics of your ride when you get it!</p></blockquote><p></p>
[QUOTE="T800, post: 11336035, member: 130230"] This is true...but the irony is that the the only way to build credit is to be [B]IN[/B] debt. OP, you are on the right track...put a big chunk down to keep your monthly payments low. Your insurance will probably be high, but not crazy 2-seater 'Vette high. Try to keep the term(number of payments/months)low so that you can pay the car off as soon as possible. It will also help keep you ahead of the depreciation slide. I got 4.5% interest on my car with my credit union...try to join one, there are usually all kinds of benefits to doing so. At your age, you want to have some revolving debt to help establish yourself in the credit world. Be sure to make your payments on time and you will be fine. This goes hand in hand with keeping your payments low. I pay $175 a month on my '03(put $10k down), if I lost my job or had money problems its alot easier to come up with that, than $300-400+ every month. Next, BE PATIENT. I waited 7 months to find my car and 3 weeks after I bought it, a Sonic Blue '03 with 19k miles on it sold for $18k. I love my car, but damn. :whine: Good luck and be sure to post pics of your ride when you get it! [/QUOTE]
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Question about getting a cobra.
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