Buying a Car – Piggington's Econo-Almanac

This topic has 20 replies, 5 voices, and was last updated 15 years, 4 months ago by (former)FormerSanDiegan.

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January 4, 2009 at 3:01 PM #14752

waitingpatiently
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Just a question….

How much does buying a car hurt your credit score? We will be paying off one loan (6%) and getting another $15000-$20000 loan (on a slighty used car). Should we pay both cars off to save our perfect credit score? We will be purchasing a home in the next year and will have about 50% down. Besides our car we have no other debt. FWIW…we are the type of people that buy cars every 10 years.

Thanks

January 4, 2009 at 3:08 PM #323699

SD Realtor
Participant

waiting this is a very good question for your mortgage broker because it impacts your ratios as well. How much of an impact it makes will vary person to person because it will depend on your own income/debt numbers.

January 4, 2009 at 3:08 PM #324035

SD Realtor
Participant

waiting this is a very good question for your mortgage broker because it impacts your ratios as well. How much of an impact it makes will vary person to person because it will depend on your own income/debt numbers.

January 4, 2009 at 3:08 PM #324101

SD Realtor
Participant

waiting this is a very good question for your mortgage broker because it impacts your ratios as well. How much of an impact it makes will vary person to person because it will depend on your own income/debt numbers.

January 4, 2009 at 3:08 PM #324117

SD Realtor
Participant

waiting this is a very good question for your mortgage broker because it impacts your ratios as well. How much of an impact it makes will vary person to person because it will depend on your own income/debt numbers.

January 4, 2009 at 3:08 PM #324198

SD Realtor
Participant

waiting this is a very good question for your mortgage broker because it impacts your ratios as well. How much of an impact it makes will vary person to person because it will depend on your own income/debt numbers.

January 4, 2009 at 5:28 PM #323739

Eugene
Participant

If your score is perfect, buying a car should not affect your homebuying capability much. Everyone beyond 720-740 gets basically same rates.

January 4, 2009 at 5:28 PM #324074

Eugene
Participant

If your score is perfect, buying a car should not affect your homebuying capability much. Everyone beyond 720-740 gets basically same rates.

January 4, 2009 at 5:28 PM #324141

Eugene
Participant

If your score is perfect, buying a car should not affect your homebuying capability much. Everyone beyond 720-740 gets basically same rates.

January 4, 2009 at 5:28 PM #324157

Eugene
Participant

If your score is perfect, buying a car should not affect your homebuying capability much. Everyone beyond 720-740 gets basically same rates.

January 4, 2009 at 5:28 PM #324238

Eugene
Participant

If your score is perfect, buying a car should not affect your homebuying capability much. Everyone beyond 720-740 gets basically same rates.

January 5, 2009 at 1:49 PM #324155

donaldduckmoore
Participant

I do not think it has any significant impact on your score. Besides, you are paying 50% downpayment and no lender would resist buyers like you.

January 5, 2009 at 1:49 PM #324488

donaldduckmoore
Participant

I do not think it has any significant impact on your score. Besides, you are paying 50% downpayment and no lender would resist buyers like you.

January 5, 2009 at 1:49 PM #324557

donaldduckmoore
Participant

I do not think it has any significant impact on your score. Besides, you are paying 50% downpayment and no lender would resist buyers like you.

January 5, 2009 at 1:49 PM #324574

donaldduckmoore
Participant

I do not think it has any significant impact on your score. Besides, you are paying 50% downpayment and no lender would resist buyers like you.
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