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Will Buying a Car help me rebuild my credit Quickly? I already have a Secure cared.
I have paid off a lot of my debt, but made the mistake of closing all my accounts a few years back and now it seems I dont have much history. I just got a Secure card and was thinking to get a car to help build history. Is this a good idea? I want to be like some of the others and raise my score 100 points in the next 6 mo.

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I would say it most deffinetly does. I got a Honda from a reputable dealer with terrible credit and a big down payment. My credit was 560ish. It's been 8 months and my credit is around 650 now. It's improved and not only that, but it shows as a positive history of credit.

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Yes, if you make payment on time

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I am a car salesman and two fastest ways to build or hurt credit is car loan and mortgage.  If you do go and get a car loan here is the best action , go the longest term possible with the lowest payment then what to do is make double payments each month and make sure you pay them a day or two in advance and make sure you ask your loan company to make sure they report your payments everymonth to the bureaus to get credit for it, in thee to six months you will see the change in your score.  and by paying double payments you will pay it off sooner and not pay as much interst. 

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Another good thing to make sure before buying a car, is that you are buying it from a reputable dealership.  I bought a car from a 'buy here, pay here' place that never reported a single payment to any credit bureaus.  Ultimately the insanely high interest rate I paid did nothing but fill that companies wallet, while doing nothing to help my credit at all.  Later, I did use that vehicle as a trade in to cover the downpayment of my current vehicle from a reputable dealership and things are better now.

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Bought a car

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My score was a 595. I bought a car with a high interest rate and my score went to 620 in 1 month. One more year and I think I'll be over 680 with just a little time paying on the new loan. Also lowering my overall credit debt to under 20% will help lots.

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Hopefully you are buying a car because you need it and not just to build your credit history. If you dont have a good credit history, you'll likely pay a high interest rate. I'd much rather save up to buy a car and save on interest.

You say you have paid a lot of your debt, meaning you still have some left. A new car loan just brings more debt into your life. Rather focus your efforts on becoming debt free, while saving month every month on buying a car. This will discipline yourself by making "payments" to your car fund.

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