wat yall think?

[ejthompson23]

How do you think your credit is gonna go up that quick if you still got negative marks on it? Unless it's been 7 years it still gonna affect your score. You'll get it higher than 485 but it ain't gonna be a big increase like you thinking it is

Anything is better than where I'm at now...my sis credit is 560 and her interest rate is 10%...I would love that...

 

[HookersandIceCream]

How much do you make per month and how much do you spend

And what are your debts

This already sounds like a terrible decision
22% interest

 

[ejthompson23]

How much do you make per month and how much do you spend

And what are your debts

This already sounds like a terrible decision
22% interest

I make 1900 a month net...
I only pay rent for a $1000 my wife pay the other bills...I got no real debts really...only my phone bill...and the interest rate is 18%...only cause my credit is shyt...

 

[HookersandIceCream]

I make 1900 a month net...
I only pay rent for a $1000 my wife pay the other bills...I got no real debts really...only my phone bill...and the interest rate is 18%...only cause my credit is shyt...

Man there's nothing like good credit
My score is like 670 and I got 25K with 2.5% if I had gotten a 2013 or newer. Which is still high compared to what people with 720 will pay

I'm not going to pretend like I'm some kind of financial guru and you're probably not gonna listen to anybody in this thread. But as as long as your bills are paid and your saving money then go ahead and get it

 

[ejthompson23]

Man there's nothing like good credit
My score is like 670 and I got 25K with 2.5% if I had gotten a 2013 or newer. Which is still high compared to what people with 720 will pay

I'm not going to pretend like I'm some kind of financial guru and you're probably not gonna listen to anybody in this thread. But as as long as your bills are paid and your saving money then go ahead and get it

Yea I wish I worried bout credit when I was younger...the low point was some months ago I got turned down to get some furniture...even doe I got decent income...the lady said that dnt mean shyt...my pride took a hit that day ...
I asked for advice on this thread to make a better decision...seeing how some of yall nikkas are financially sound is kinda helpful

 

[Ricky Church]

how you gonna start a thread asking for advice/help, and then go against all the advice you get in the same thread.

 

[the artist known az]

Yea I wish I worried bout credit when I was younger...the low point was some months ago I got turned down to get some furniture...even doe I got decent income...the lady said that dnt mean shyt...my pride took a hit that day ...
I asked for advice on this thread to make a better decision...seeing how some of yall nikkas are financially sound is kinda helpful

They really need to add a class for like high school seniors about being financially responsible before they start getting them credit card offers & whatnot. I made a couple mistakes when I was younger, thankfully they have fallen off due to being 7 years older.

 

[unit321]

I just got approved for a 23k auto loan at 18% apr since my credit aint too good...I see a 2013 Cadillac ats with 40k miles for $18k...good move or nah...help your breh out brehs I've never financed a car before...

That's not good for your financial situation.

You are better off not maxing out your credit approval amount. If you already can stomach driving around in a Chevy Malibu, then you could get a 2013 Chevy Malibu for probably around $13,000 to $15,000. If you decrease the principal (the amount you loan) by $10,000, you're total interest difference over 36 months would be around $3,000.

But a better plan is loaning $8,000 at 18% for 24 months for what I think would be a $400/month payment. Then, you pay off that loan and that would improve your credit score. By cutting your car bill expense in half, that would allow you to save $400 a month so you would be able to save $9,600 after 24 months. In total after the 24 months, you would have better credit score, equity in a used car ($8,000 minus depreciation), and $9,600 in the bank.

 

[mcdivit85]

something telling me not to do it bt I'm young black n crazy wit a decent job...sooo fukk it...

Was that the same thing line you were saying when you were burning your credit to a crisp? Breh, it sounds like you got a strong case of nikka Logic.

nikka Logic tells you "well, I'm young, black and employed, so I gotta be riding foreign." Knowing that "good job" yaint really that good and that foreign is stretching you like peanut butter on a slice of whole wheat bread.

nikka Logic is what caused you to f#ck up your credit SO BAD that you're getting quoted 18 PERCENT on a car. Breh, do you know bad that is? You're paying credit card numbers on a car. Car loan terms shouldn't even reach double figures.....and damn sure not close to 20 percent figures. That bank is so unsure about you being able to make payments that they're charging you some loan shark sh#t in broad daylight.

If I were you, I would buy a car cash. No, you're probably not going to be able to stunt but at least you won't be getting f#cked on an astronomical payment. Again, 18% on a car loan. That's some wack sh#t bro.

Peace

 

[mcdivit85]

If you think you can make the payments for a year then go for it. I still think financing is a bad idea. You're still gonna pay a couple thousand more than the sticker price, and you'll be lucky if the car is worth half that by the time it's paid off.

Exactly. F#ck depreciation taking a piece of his pocket.

His loan terms alone going to have dude upside down on his whip before he even leaves the lot

Peace

 

[LordTaskForce]

you need to pay off those loans first breh

 

[ejthompson23]

They really need to add a class for like high school seniors about being financially responsible before they start getting them credit card offers & whatnot. I made a couple mistakes when I was younger, thankfully they have fallen off due to being 7 years older.

I had economics in 12th grade...that aint teach me shyt...

 

[ejthompson23]

That's not good for your financial situation.

You are better off not maxing out your credit approval amount. If you already can stomach driving around in a Chevy Malibu, then you could get a 2013 Chevy Malibu for probably around $13,000 to $15,000. If you decrease the principal (the amount you loan) by $10,000, you're total interest difference over 36 months would be around $3,000.

But a better plan is loaning $8,000 at 18% for 24 months for what I think would be a $400/month payment. Then, you pay off that loan and that would improve your credit score. By cutting your car bill expense in half, that would allow you to save $400 a month so you would be able to save $9,600 after 24 months. In total after the 24 months, you would have better credit score, equity in a used car ($8,000 minus depreciation), and $9,600 in the bank.

Dat makes sense...I was talking to my girl I see a Volkswagen CC I like...that shyt got two toned leather...2011 50k miles for $12000...I might just take that...I didn't plan on maxing out the loan amount...it's just the nikka in me wanted to go big right out the Gate...a nikka just wanna fix his credit brehs

 

[ejthompson23]

Was that the same thing line you were saying when you were burning your credit to a crisp? Breh, it sounds like you got a strong case of nikka Logic.

nikka Logic tells you "well, I'm young, black and employed, so I gotta be riding foreign." Knowing that "good job" yaint really that good and that foreign is stretching you like peanut butter on a slice of whole wheat bread.

nikka Logic is what caused you to f#ck up your credit SO BAD that you're getting quoted 18 PERCENT on a car. Breh, do you know bad that is? You're paying credit card numbers on a car. Car loan terms shouldn't even reach double figures.....and damn sure not close to 20 percent figures. That bank is so unsure about you being able to make payments that they're charging you some loan shark sh#t in broad daylight.

If I were you, I would buy a car cash. No, you're probably not going to be able to stunt but at least you won't be getting f#cked on an astronomical payment. Again, 18% on a car loan. That's some wack sh#t bro.

Peace

I know the number bad...my homeboy got a 2014 Lexus IS and his APR is only 6%...his credit score is 680...I figured I would bite the bullet and hope to refinance in a year at a much lower rate...that's the route I was aiming for...but it seems like a bad idea now...

 

[the artist known az]

I had economics in 12th grade...that aint teach me shyt...

Economics & learning about maintaining your personal finances are 2 different things