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Posted in Auto Loans
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ljmomma123

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Car Loans worth it?
I owe 8000 left on my newer vechile, and thought about trying to take a car loan out for it, seeing as is the place i buy from doesnt help credit. Thought on this?

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If you do not have any installment loans being reported to the credit bureaus then it may be a good idea to do that. If you already have installment loans being reported to the credit bureaus then it may not matter much or be worth the trouble.

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Not quite sure I understand... you are currently making payments on your car, but you don't have a loan? Are you paying interest?

I would think that it would only make sense to get a car loan if you will wind up paying less interest than you are currently paying now.

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do you have one of those "buy here pay here" deals? you might want to look into the financing agreement! those places charge a LOT Of inerest. you end up buying your car three times over by the time it's paid off. i'd look at your current agreement, and see if you're eligble for a refinance with someone else. compare the two. it might be worth your while to refinanace and get out of your current agreement.

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