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Feels so good to get a low rate after past credit probs

Established Contributor

Feels so good to get a low rate after past credit probs

Around 2014, my credit score was in the low 500s... I had some old dings and absolutely no positive credit because I stopped using it entirely.

 

At one point, I had a car loan for something like 28% interest from a buy here pay here lot. Yikes.

 

Recently, I decided to buy out my car lease rather than get a new car so I won't have a car payment. But one of my kids has been driving a 2008 Toyota he bought himself a few years ago from the proceeds of his summer job. It's got 180k miles on it and while it's fine driving around town he's going to college a few hours away when schools reopen. I decided to get him an inexpensive but reliable car and got a 4.5% interest rate from Capital One on a 2019 Hyundai Accent. They delivered it this morning!

 

Honestly, it feels awesome to be able to do this for him AND to get a rate I never would've imagined in the past!

FICO8: Low 700s. FICO9: Mid 700s. Goal: 800 club
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Established Member

Re: Feels so good to get a low rate after past credit probs

Congrats!...love hearing good news


@Readyformyhome wrote:

Around 2014, my credit score was in the low 500s... I had some old dings and absolutely no positive credit because I stopped using it entirely.

 

At one point, I had a car loan for something like 28% interest from a buy here pay here lot. Yikes.

 

Recently, I decided to buy out my car lease rather than get a new car so I won't have a car payment. But one of my kids has been driving a 2008 Toyota he bought himself a few years ago from the proceeds of his summer job. It's got 180k miles on it and while it's fine driving around town he's going to college a few hours away when schools reopen. I decided to get him an inexpensive but reliable car and got a 4.5% interest rate from Capital One on a 2019 Hyundai Accent. They delivered it this morning!

 

Honestly, it feels awesome to be able to do this for him AND to get a rate I never would've imagined in the past!



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Message 2 of 2
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