- NEW!
by machinerat on August 12th, 2009
First off, remember that a car isn't an investment, it actually goes down in value every day... so don't spend too much on a car.
You could build up credit by purchasing everyday things (that you were going to buy anyways) with a credit card and pay the balance off every month. That way you don't have to worry about paying extra in interest. The most important thing is paying on time.
by Phillis - Zacks little sister on August 12th, 2009
Great question! Nothing else will do, if you're trying to build credit. Common sense tends to fly out the window :(
I suggest a compromise. Carry a debt on a $5,000 car of around $1,000. It will keep your interest payments down, and build your credit up.
Take whatever you have left and throw it into a Roth IRA, and let it sit. +5
How much does it cost to start debt consolidation?
by Answerbag Staff on August 4th, 2010
| 1 person likes this
What is a low credit score?
by Answerbag Staff on July 31st, 2010
| 1 person likes this
Do i have to pay home equity charge-offs?
by Answerbag Staff on August 2nd, 2010
| 1 person likes this
How often do you check your credit report for accuracy?
by Chicago Lady on November 2nd, 2010
| 4 people like this
What credit rating would you give AB ?
by Ryan_U on August 1st, 2011
| 1 person likes this
You're reading Would it be better for me to buy a 5000$ car and never use credit or debt are to put 5000$ down on a car and make payments to build credit? if I never pay intrest and invested that saveings wouldent that be worth more then good credit?
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