Buying A Truck

[Anonymous]

Would you pay cash for a truck if your keeping it longer than 5yrs have no kids and can do it?

pros vs cons

financing vs cash? 

plus i cant get a loan w/15k down without a co-signer.

wtf 

[daisyduke]

If you choose to finance and pay on time, you will build your credit history which will be positive. When you need another car and want to finance it, you will have good solid credit history...you have zero history if paying cash for a car.

I would never consider paying cash for two things: 1) a mortgage or a 2) an auto. there are more advantageous ways to "invest" your money versus spending it all on a car,which, IMHO, is the fastest depreciating asset you will ever own.

Understand how auto loans work - they do look at scoring, but other things as well, your income, debt to income ratio, length of employment, etc etc etc. it is not one factor, but several.

[Anonymous]

daisyduke- they look at employment, hmm. im in college... i would never pay cash for a home either... im in school loan rehab, i didnt want to pay my loan out. i rehabed my school loan to remove my trade line. i couldnt get finance with 15k/down due to my school loan and a computer loan.. 

i don't like askng no one for nothing like co-signing.. this economy is so bad so what investments?

thats my reason for cash since im keeping my truck more than 7 yrs for necessity reasons. trying to get advice. 

[daisyduke]

OIC you are a student. i didn't know that...

[Anonymous]

yea no kids are anything. just car insurance,internet,rent,cell and electric.   looking for a route..

[clocktick]

I'd pay cash regardless but that's just me.  I can't stand car payments.  The vehicle's going to depreciate no matter how you pay.  At least with cash the vehicle is really yours and not the bank's.  Most people, I believe, have loans but it doesn't really matter what most people do.  Do with what works for you and your future.

[Anonymous]

Clocktick- o you pay cash, that's cool. no matter how you do it will depreciate anyway. that statement is true. i could see if you were leasing are wasn't keeping it longer than 3 yrs.

[Zahnrosen]

I think you'd want to look at the option that will help you build credit. If you need or want a credit card or house or a replacement car you'll really appreciate having the good credit. If your credit is really so thin that you can't get financed with 15k down then there's either a major issue on your credit file you dont know about or your talking to the wrong financing people. Note, I realize your a student but it shouldn't matter that much!

I'd go ahead if I were you and get a couple starter credit cards. If you can manage those responsibly for a while then you'll be in good shape credit wise pretty soon. Then, when you go for your car loan it won't be the first thing you've tried to finance and you'll have a much easier time with it.

One last thing, you might be able to shortcut all these tricks I'm talking about if you can get a financing manager who's compassionate. Try local credit unions and talk to other students at your college and find out how they financed their cars. Heck, the counselors might even be able to point you in the right direction. 

[Anonymous]

My first car I got on my own through a gm certified dealer with 24k miles. No co-signer just my signature.. Though it had a 19.99 interest rate.. I had it in my name though.. I am with the credit union but they were compassionate.  What held me from getting the loan myself was my student loan in default. I could had paid it myself but it would had left me a trade line on my credit for 7 yrs.. So im rehabbing it for 9 months so it want leave a trade line on my credit.. Then a computer loan too held me too. I was going to pay it off but it was still on my credit saying paid in full, it want be removed off my credit,it will say paid in full, i want it remove completely even though it say paid in full.

Also the credit union still want to me have a co-signer,wtf? Also where can i find a couple of starter credit cards preferably non-secured?

I need a vehicle now, cuz i had accident that left me in a '' w-chair ''seat. So I can't afford to be broke down even with AAA. I have a 116,00miles on it the car treated me great i done drove it to vegas there and back. Though i didn't dog it out.

Where can i find a good financing manager?

So my income suck ntil i finish school.. i fell off a lil after my accident.

lol, gotta laugh..

so wht yo think i just wanna make great choices.