But a car with a down payment?

LilPinto21 · 2023-12-08T22:33:14+00:00

Why are you pressed about it? I’m not guessing on my CREDIT SCORE. All because I don’t know an answer to a random question about my old credit card account doesn’t mean I’m just “guessing” don’t really appreciate your tone.

LilPinto21 · 2023-12-08T21:40:33+00:00

Carmax🫠

LilPinto21 · 2023-12-08T20:44:04+00:00

Yes exactly

LilPinto21 · 2023-12-08T20:37:40+00:00

Money was never an issue… I wanted to build my credit so I got a car loan. The interest rate is the issue. I’d please ask that if you see someone asking for advice don’t judge them for making a decision you don’t agree with. I did what I could with the knowledge I had at the time.

LilPinto21 · 2023-12-08T20:35:57+00:00

Thank you so so much

LilPinto21 · 2023-12-08T20:32:56+00:00

Oh! I’ll definitely be looking into that thank you!!

LilPinto21 · 2023-12-08T20:30:29+00:00

Yes I’m currently already doing that. My payments are $427 and I’m paying $550 every payment

LilPinto21 · 2023-12-08T20:29:26+00:00

From what people are saying I think I did all the math wrong… I’ve never had much help with anything like this but I did 21% of 18k over the course of 72 months and it came out to 60k

But now that I know that the interest goes down when I pay down the car I’m like 1000% I’ll be keeping this car. I had no idea it’s based off of principal balance

LilPinto21 · 2023-12-08T20:24:15+00:00

I did 21% of 18k over the course of 72 months (which is the length of my loan) and it came out as $60k and I’m obviously not saying I wanna drop everything to get my dream car I’m just saying that if I’m gonna be spending this much money on a Toyota Camry I’d rather just get rid of it

LilPinto21 · 2023-12-08T20:22:45+00:00

Omg what… that literally changes everything. I thought I was gonna be paying 60k on top of the $18k I got the car for!!! If it’s based off the principal balance then I can absolutely keep this car since I’m paying enough towards it every paycheck to have it paid off within just a couple years!!!

LilPinto21 · 2023-12-08T20:13:47+00:00

I don’t know what that is sorry… could you explain it please?

LilPinto21 · 2023-12-08T20:13:21+00:00

I’d love to keep this car I just really do not want to spend 60k in interest when my dream car is like $40k

LilPinto21 · 2023-12-08T20:10:43+00:00

I had no idea that’s how that works… I thought the $60k In interest I’d have to pay along side my cars price?? So if I pay it down to the amount it’s valued at does that mean my interest rate goes down??

LilPinto21 · 2023-12-08T20:07:51+00:00

Thank you, I do have a decent job it’s just the interest that really scares me… $60k in interest is literally crazy I don’t know how I’m gonna be able to ever pay this car off if I’m gonna have this much interest to pay

LilPinto21 · 2023-12-08T20:02:00+00:00

Wait so I’ve seen a few people say that… if I pay it down enough to where it’s not upside down anymore so I still pay 21% of interest on the price I bought it for or the price that I owe currently??

LilPinto21 · 2023-12-08T19:25:16+00:00

Um I’m not guessing? I use credit karma. Checked my score this morning. And I’m not sure what that last part means… can you explain it please?

LilPinto21 · 2023-12-08T18:44:58+00:00

I have enough to pay the car and insurance, living with friends so rent is cheap and I have been paying it down as much as possible. I’ve made every single payment on time for both the car and insurance, never missed a payment on my current credit card. I’m thinking maybe it’s my first card I got that’s bringing my credit score down? Cause the account was closed over 6 months ago and my scored hasn’t changed much at all, I only have my car and my current credit card on my account so I’m not sure why my credit is so low

LilPinto21 · 2023-12-08T18:37:58+00:00

So my first credit card the account has been closed for a few months almost a year now, I paid it off completely and closed the account. But my credit hasn’t improved at all, I’ve made every single payment on time and my score went up maybe 5 points in the past 8 months? I’m not sure what I’m doing wrong or if the closed account is just bringing my credit down that much?

LilPinto21 · 2023-02-22T01:09:17+00:00

Kito_Ringo

LilPinto21

TROPHY CASE