Bank Loan question-Should I?

[MaximA32]

Or some such s***...

Andy, you slay me.

[PoorManQ45]

OP, listen to Eikon's advice. It is sound. Charlieo is off in his own world, and if that works for him, great, but his "model" will not help you establish your credit. Apparently, if we do not all subscribe to his philosophy, we are rats. It also implies that if we know how to properly establish and manage our credit, we are somehow subservient to a ruling class foregoing our personal freedoms and independence.

Or some such s***...

Bah, Andy is just another rat following the man!

[Repo Man]

Nope. I blew past him in with my LS1.

[Jesda]

Car debt is the worst kind. A rapidly depreciating and often disposable asset that accumulates interest -- just say no.

I know the perils of debt from experience.

I'd say a used car wouldn't be too bad. Specifically something that has already taken a huge initial hit.

Yeah, that definitely helps, but borrowing money on a depreciating asset to build credit is like getting AIDS to cure a cold.

There are more cost-effective ways of establishing a history of credit worthiness.

[Urabus GodofTraction]

Glad to know you paid cash for your copy of "How to Win Friends and Influence People", charlieo

Cash from a used bookstore, bishez! Money saved went to the house fund!


And king rodent, I don't know what to tell you, but with no credit lines, last year when I rented an apartment they had me at 720. That was before I even had a GTC, a credit card that's been forced upon me (apparently though it can't positively affect your credit...).

And when you owe someone money, they own you. So yes, you'd be subservient to a "ruling class." Even the idea of a mortgage grates me. As for inferring I don't know how to manage credit... well because I don't use credit cards or have loans doesn't mean I don't get how it works; owe money, pay it off regularly. Not exactly rocket science.

Also, the paid-cash-for WRX can handle C5s if I'm not caught off boost, so there'll be no blowing by.