Viewing a single comment thread. View all comments

octotron3000 OP t1_j6itui3 wrote

Reply to comment by Nostradaemus in I have a financed car and less than 30 days before navy basic training. by octotron3000

Good thought, but being in the military alone will give me all the credit I need. What is the down side to owning the car outright and just keeping it as long as I can (beside the fact that it depreciates)?

0

Nostradaemus t1_j6jtry2 wrote

I am in the military, doesn't give you any credit. For the most part the credit agencies have no idea what your profession is, nor do they care. When you request to get a loan they ask how much you make and that, along with your credit, is how they determine how much additional obligation against your credit they can take and give to you.

There are multiple factors to your credit, and one is a history of paying your on your credits. Starting that early is a good thing, although the car payment is probably not the best way to do so.

2

octotron3000 OP t1_j6kl5n5 wrote

Yeah definitely not. Just happened to think I needed a car at the time little did I know I could live without one.

1