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Time to trade in 15yo car

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Anonymous
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Time to trade in 15yo car

I paid it off on a 36 MO buy but since it has fallen off my reports a few years ago, does that mean I'm considered a first time buyer?

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Anonymous
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Re: Time to trade in 15yo car

"First time buyer" generally refers to a buyer with no or very limit credit experience.  I'm assuming you have other forms of credit that's been on-going since you had your car loan.  If that's the case, you woldn't be considered a "first time buyer".

 

Just an example, i deal with Honda.  Honda Finance considers customers with at least three lines of credit.  It can't be a student loan or something derogatory such as collections is not considered a line of credit.

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