>be me >test drove 2016 Focus RS on Sunday >loved it

go get a credit card and start building your credit yo.

ECOBOOST
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>>16111634
I've been building credit for about a year and a half now. Not quite enough to buy an RS though, apparently. Like I said my scores are good (>730), it's the lack of history and ridiculous amount of the loan that screwed me I think.

They said I could have had it if I could get a co-signer, but I really didn't want to ask anybody to risk their credit on my drift mobile

>>16111652
how old are you? Im going to be fucked t b h

im 25 and never had a credit card

>>16111644
It's legit, at least on the RS. Puts you back in your seat even in 6th

>>16111621

I feel ya OP

>be me
>go to apply for a home loan
>credit scores all above 700
>$35k cash in the bank
>"we decline your loan application"
>reason: little to no credit history
>all I'd had up to this point was a $300 credit card I'd pay off every month, used only for gas
>all the times I said "huehue I didn't fall for the credit meme" now come to shit on me
>WELL FUCK
>if they want me to make bad financial decisions before they let me make GOOD ones...
>find a used Camaro SS for $25k
>put that bitch on a 5 year note @ 5.8%
>paying it off 2X as fast since I have the cash

Fuck America sometimes, but at least I have a Camaro SS now.

>>16111664
Even on the little 1.6L I can't get enough of that midrange pull.

>>16111659
I'm 21
>>16111667
Yeah I hate credit, but I was ready to put up with it for that car. I had a plan put together to pay it off in half the time as well, and could have done so with no problems

>>16111667
Are you me?

>>16111999

Nope, but nice double trips.

>>16111621
So... is it worth the 45k?

>>16111621
How much money do you make at 21?

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>29
>completely shit credit score
>1 voluntary repo on my account for 10k
>mother filed bankruptcy with me on split loans with her
>Don't make enough money right now to put money away

Welp, I mean life hasn't been hard, I just suck with money.

>>16111621
Why the fuck do people try to get loans on cars with no downpayments...

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Yall retarded. Cars should only be bought cash and should not exceed 5% of your annual income.

Yes, I accept the fact that I will never drive anything better than an entry level Lexus, but I have millions in the bank and my family will always be able to afford the important things like private schools, HOA fees, etc.

>>16112383
No self control.
Easier to deal with horrendous interest than show constraint and save for a car and actually hit a goal without spending a chunk halfway through. I would know, this is me to a tee (but banks only give me 6K).

>>16111621
HAHAHA when I bought my car they told me shit like that actually happens and people have to give the car back HAHAHA

Literally the best strategy for building credit is 0 annual fee Credit card's with extra goypoints if they come with 0 interest for a while. I have I think 9 Credit card's with over 50k in credit and ive paid not a cent of interest nor annual fee because I always use them up and pay it off equally over the intro period of 9/12/18/whatever months and then let them sit in my Wallet for free.
It builds your payment history, your total revolving credit, your overall history (time with credit), amount of accounts, and % of credit in use (if you have a high level of revolving credit and use a lot on one or two cards its still a low over all percentage). Basically, this retard neckbeard has great credit for free and the Jews hate him.

>>16111652
das good then.

How was the RS? I want one but can't convince myself to blow 50k on one.

>>16112478
PRIVATE SCHOOLS? AHAHAHAHAHA

I'll take the Chevy '55!

>>16112478
>millions in the bank
>entry level lexus
bait

>>16112679
I thought having a bunch of credit and not utilizing it would lower your score?

>>16112263
You are me. Except my mother is just paying my two student loans she co-signed.

Hyundai has so many fucking deals and rebates I actually got a 2016 Elantra last year without mommy having to cosign.

Apparently I should also get a credit card to rebuild my credit, but my scores are already sub 700 to even qualify for any.

>>16112702
I check my score every month with credkarm (Equifax and trans Union) and the only times it ever goes down is if I get a new card or cancel one because it lowers your average account age. Also if I put a large Balance on a new card Because that is frowned upon but it goes to back up plus a point or two when payments are being made. Currently sitting pretty with a 771, only thing killing my score is my low average account age

>>16112210
Yes, for me. I was more than willing to pay it
>>16112217
$3400 a month after taxes
>>16112383
>>16112494
Normally I wouldn't have but this being the only RS the dealership had in their inventory, I didn't want to let it sit.
>>16112688
It was fantastic. It probably helped that I went from a 2002 WRX to the 2016 RS, but seriously it was a blast to drive, even in normal mode. Handles beautifully, VERY responsive steering and throttle, and everything just kicks up a notch in the performance modes. Plus the sound system was great

>>16112845
What do you work on?
That's pretty decent money for someone your age.

>>16111652

654 here, gotta pay off some credit cards for going over the limits. Should be cleared in a month or so since i got a new Jay oh bee

>>16112703
>already sub 700

Anon, my scores are in the high 400s.

>>16112845
Why did you downgrade to American trash?

>>16112845

That's really good for 21 imo - but I wasn't completely comfortable spending 29000 on a car at 3200/mo after tax, let alone over 40000 lol

>>16112679
Absolutely do not listen to this guy. Open loans (which is exactly what credit cards are) increase your debt to income ratio whether or not you have any balance on the cards.

While this will slowly increase your credit score, this will increase your 'assessed risk' in a credit report and lead to insanely high APRs, lengthy terms, and stipulations on high like requiring massive down payments.

Do yourselves a favor and go read up on how credit, and the reporting therein, actually works

>>16112478
so if i make $250,000/yr
I should only buy a car worth 12.5k? yeah right go fuck yourself

what is this credit meme? why america has so many retarded things including this, their election system and still using magnetic stripes to pay?

in europe:
1. want a loan
2. prove you have a good job
thats it, youre done.

>>16111667
SENPAI you can get a FHA loan with a 580 credit score and almost no history. Their fixed rate is like 3.7%

>>16115231
>European lecturing anyone about economics
Fuck off communist nigger.

>>16112478
>entry level keksus
>HOA despite having enough money to live on your own land AND buy a trailer park

No anon, YOU are the retard

>save up for car
>buy it

Foolproof method, no credit necessary, learned it from Gran Turismo