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mmoscuzza

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To Loan or not to Loan?
I have excellent credit (790+) but Ive only ever had 1 car loan. I am about to make a sizable personal purchase ($15K) and am trying to decide whether or not it makes sense to get a loan or pay cash.

The only purpose of getting the loan would be to boost my credit score/history *I would likely pay it off within a month.

The only cost would be a 3% loan origination fee but Im not sure if this makes sense or if Im overcomplicating things.

Would appreciate any advice!

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If your Credit Score is in the High 790's then stay with cash. It would be like paying 450 dollars to boost your score. I for one have a hard time giving money away if I don't have to.

If you have the Cash see about getting a discount for cash.

Good Luck

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