I just bought a car, and because I didn't have all the cash up front, I did what most people did - financed it. When talking with the salesman, never once did he mention that because I am young it might be tougher to get approved or get a good rate. He simply asked if I have good credit. I told him "not sure what the score is, but I pay all my bills on time." I got approved, no problem with a very good interest rate in about a day. All this nonsense about normal people not being able to get loans seems silly to me.
Oh, it's a 2007 Monte Carlo. This gets me thinking... what happens to my warranty if GM doesn't last the year?
Subscribe to:
Post Comments (Atom)
6 comments:
normal people do not have good credit. the average credit score is less than a 600, and the average car payment is $500.
I suppose that all depends on what you call normal. When I looked into credit I learned that it's about a lot more than paying your bills on time. Did you know that the area you live in effects your credit?
Normal people also make mistakes, and it only takes one to drive your credit into the ground. A single trip to the emergency room could end up costing tens of thousands of dollars; no insurance and that could eventually effect your score. Congratulations on your new car!!
Is there anything wrong with being intelligent and responsible? Shouldn't people, especially young people, aspire to become better than average? Is it unpatriotic to pay bills on time and not get in debt more than one can repay? Is it a bad thing to follow the rules of responsible society and prosper?
You are right, Tangie. Accidents can ruin credit pretty quickly. Other than an accident, there is no reason to have bad credit.
With regard to Emily's post, maybe in the US the average person has poor credit, but that is a result of poor financial decision making and overconsumption on a massive scale. This was encouraged by our government and our overly materialistic society. People have purchased expensive cell phones, cable plans, houses, clothes, cars, and other "toys" that they cannot afford. This is not "normal." It is irresponsible.
With regard to paying your bills on time, I know a certain Mr. Scherer who may disagree with your statement.
joe... everyone is waiting to hear your take on the election.... i know you have a new job and all, but damn... i miss it :) BACK IN DA STATES!!!!!
Post a Comment