• Gigan@lemmy.world
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    1 year ago

    You don’t need credit to buy a car, only to finance one. I bought my current car used and with cash and plan to do the same for my next one. Cars are a terrible thing to finance because they lose value so quickly.

    If you want to build credit for a mortgage, use it to pay for a recurring monthly payment like car insurance or a phone bill. Pay it off every month and dont use it for anything else.

    • grue@lemmy.world
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      1 year ago

      You don’t need credit to buy a car, only to finance one. I bought my current car used and with cash and plan to do the same for my next one. Cars are a terrible thing to finance because they lose value so quickly.

      Yet another example of how car-dependent zoning is a trap. Imagine the financial freedom people would have if they didn’t “need” a car in the first place!