Quote:
Originally Posted by jlenko
Or.. you could just live within your means and buy a used car, with cash. Not everyone has to get a car loan...
|
I think 604CEFIRO was explaining that having a car loan in good standing looks really favourable on your credit rating to potential future loan requests, like for a mortgage. Buying a car with cash, however fiscally responsible you think it is, does nothing to help your credit rating (but it doesn't hurt your rating either).
I wouldn't necessarily consider someone buying a car with a loan to be buying a car "out of their means" either.