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Moderator Emerita<br>Community Leader<br>Epic Contributor
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haulingthescoreup
Posts: 28,112
Registered: ‎04-01-2007

Re: Should I Buy a Car with my Credit Card or Auto Loan?

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‎03-16-2009 11:37 AM

rmjse wrote:

Thank you for all your helpful replies.

 

The car is a 2005, so it's not too old. I asked BOA about a loan for it and they quickly said they don't finance cars over 100K miles. Really they are the only ones I asked. I did not know that my score would drop by having high credit card debt, thanks for the heads up. I guess I will try to find a lender who is willing to look over the miles on the car.

 

Anyone recommend a good lender that may be able to finance such a car?

 

Thank you again.


You'll do better to start a new thread over on the auto loans board.

In the meantime, be sure to read Understanding Your FICO ® Score and Credit Scoring 101 (at least the first post.)

These will give you a start on understanding how your credit works.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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Super Contributor
MidnightVoice
Posts: 8,091
Registered: ‎03-25-2007

Re: Should I Buy a Car with my Credit Card or Auto Loan?

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‎03-16-2009 11:48 AM

Local Credit Union?
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
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Regular Contributor
rebuilding
Posts: 164
Registered: ‎05-22-2007

Re: Should I Buy a Car with my Credit Card or Auto Loan?

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‎03-17-2009 05:40 AM

I just bought a 99 suburban as a third car with 150k miles and my credit union didn't have any probs with the miles... but it was only 4k.

 

 

11/30/2009 TU 676 EQ 665 EX 654 (CU pulled)
5/14/08 TU 660 EQ 676 EX 623
9/5/07 TU 579 EQ 612 EX 546
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