Does choosing to finance a car with a high apr rate hurt your credit?

first decent answer can get 10 pts

Does choosing to finance a car with a high apr rate hurt your credit?

No, it%26#039;s not going to hurt your credit.....

But why would you want to pay through the nose for something like this?

If you have to get a high interest rate, and least do yourself a big favor and finance as little as possible - say $1,000 or 2,000 and then pay it off FAST.

This will help your credit and you won%26#039;t get killed on finance charges.

Wishing you the best.....

Does choosing to finance a car with a high apr rate hurt your credit?

Not if you keep making your payments every single month without missing any payments.

Does choosing to finance a car with a high apr rate hurt your credit?

Buy a less expensive car with cash. Put the difference in a savings account (emergency fund) use it only if the car breaks down. after a couple years paying that (IMAGINARY) car note into your savings account you may choose to keep your old car if it is still rolling along or trade up using the cash you saved. Then start over again. DISCIPLINE yourself. It is a great feeling to pay CASH for a car and hold the title to you car.

Does choosing to finance a car with a high apr rate hurt your credit?

No, but it%26#039;ll hurt you in the wallet. Your best bet is to buy a clunker, work for a year, open a credit card and build up some credit, then go and buy a new car. Or see if your dad will cosign the loan for you - that lower%26#039;s the interest rate.

Does choosing to finance a car with a high apr rate hurt your credit?

It doesn%26#039;t hurt your credit as long as you can pay for the car. Make sure you can also pay for the car insurance, gas, repairs (this can run you $250-500 per month). You are better off taking any money you make to go to college so you can afford to pay for these items in the future.