How Important Is Good Credit Brehs?

[Bay Area]

im 23 with no real established credit yet so my credit score is 688. Just financed my first decent looking car about 4 months ago and and opened a few store cards and credit cards in the same time frame. My dilemma is im living at home paying this car note but I can move to NY and live with some other fam but I aint trying to ship a car out there... I said all that to say this, would I regret letting my car get repossessed? Is a change of scenery worth the demise of my credit? I feel like im not making progress in life out here in the Bay.

 

[Fart Knocker]

you state you have no credit history, which doesnt help your case to begin with. if you get a repossession on that history, good luck getting a second car. you'll be paying like 18%

 

[HoustonHeat]

Why not sell the car if you decide to move to NYC instead of getting it repoed?

 

[MrFettuccinnePockets]

Credit is damn near more important than liquid.

Dont let your shyt get repoed

 

[Jhoon]

Why buy a car if you were uncertain about your future? When you say 688, where is this number coming from?

 

[TooLazyToMakeUp1]

 

[Bay Area]

Why not sell the car if you decide to move to NYC instead of getting it repoed?

From what ive been reading, I was under the impression that its difficult to sell a car you are still financing.

 

[Mr210]

damn question from a an even dumber poster

 

[Bay Area]

Why buy a car if you were uncertain about your future? When you say 688, where is this number coming from?

Yeah it was a short sighted investment and I use credit karma.

 

[HoustonHeat]

From what ive been reading, I was under the impression that its difficult to sell a car you are still financing.

http://www.cars.com/go/advice/Story.jsp?section=sell&story=sellLoan&subject=how_sell

 

[Bay Area]

damn question from a an even dumber poster

 

[TLR Is Mental Poison]

From what ive been reading, I was under the impression that its difficult to sell a car you are still financing.

Naw its the same shyt

But u might owe more than its worth which means u will have to pay to sell it. Nothing u can do about that either.

If its a new whip take it to Carmax. Most money for the least hassle. Dont let them repo it, credit is very important.

 

[Sad Bunny]

It's pretty important breh.

If you need a move and then suddenly need a car ...for work or whatever...and you need to finance again...it'll be a bytch getting another.

I NEED a car...for work and other shyt...so I got to keep my credit up in case I ever need to trade and get a new one.

My transmission recently broke down and I realized how important good credit was because I was about to get a new whip.....my credit score is lower than it was when I got my current car in 2012 and the new rate they were offering was

I also plan to buy a home one day with my wife for our kids....so imagine that too. If you meet a girl and get serious


688 isn't terrible either. You can bring that up bro.

Be worried if it were 600 and below.

 

[CinnaSlim]

Is no credit as bad as bad credit? I have "a thin file".

 

[Jhoon]

Is no credit as bad as bad credit? I have "a thin file".

To me, all that shyt is a ruse. Long as you have a great debt to income ratio, youre set to go.