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Posted in Auto Loans
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Thebalthsar

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Is an auto loan better for credit than paying cash?
Is it better for my credit to get an auto loan and pay it off in a few months or just leave my credit alone and pay for it with cash?

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If you buy it outright with cash, you most likely won't even see it in your credit report.  Generally speaking, you need to have an open account in good standing with 6 months or more of payments, for it to really help/affect your credit.  If you can afford the car outright, just put a big downpayment on it, and have a 2-3k loan, and pay it off over the next 1-2 years. 

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