Pay off loan or supercharge

[Zemedici]

Please stop putting bags on street cars. Come on - figured that 'trend' would have gone the way of the Dodo bird by now.

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[Process]

1.9 percent. I want to keep it to bump my credit score up. paying it off and having 500 extra a month is a perk also. but I don't know a lot about credit and how it would affect score.

Lot has to do with your debt to income ratio. That's a big factor, obviously late payments and credit utilization are others. Plenty of forums and articles that explain fico scores.

I doubt you'd see a huge increase if you have above average credit to be honest, you may even lose a few points since you're not utilizing credit.

at 1.9% and if you're not cash strapped, I'd keep paying it, and use the money for better investments or enjoyment. You really do not see an interest rate benefit once your credit surpasses a 740 FICO.

Your credit score is more of an indication on how responsible you are with credit, not how fast you pay things off. Banks use it as an investment factor of you. They see a higher credit score as a solid investment, as you will use credit, but they will also see you as a safe bet in repayment.

A big difference between a 600 score person and a 750 score person could be as little as the 750 score person just has zero late payments, whereas the 600 score person had a few, but both use credit the same.

Sorry way to many factors can go into this though.

 

[krahooligan]

Please stop putting bags on street cars. Come on - figured that 'trend' would have gone the way of the Dodo bird by now.

it was a joke. I don't want bags.

 

[Zemedici]

it was a joke. I don't want bags.

thank god. hahaha didn't have my sarcasm goggles on :cheers:

 

[krahooligan]

thank god. hahaha didn't have my sarcasm goggles on :cheers:

its all good man. I said IG fame thing because all the guys with 10k plus followers all have bags, headers and highly edited photos.
maybe ill take a trip to Europe and save the rest. cars already quick enough I guess. plus the wife would be upset if I dropped 10k into the car.

 

[Zemedici]

its all good man. I said IG fame thing because all the guys with 10k plus followers all have bags, headers and highly edited photos.
maybe ill take a trip to Europe and save the rest. cars already quick enough I guess. plus the wife would be upset if I dropped 10k into the car.

That'd be sick. I'd rather travel Europe than hit a button, go PSSSSSSHHHHT, and make my car look like a hotwheels car, except unable to move. Shit is so gay. Girls trying the IG thing, and I pointed that out too, they ALL have the same shit, some wacky ass wrap job, bags, and loud shitty exhaust. woohoo. Hardly any of them make power.

 

[5 O UFO]

Pay off the car man. I've got the need for speed as bad as the next guy, but financial freedom trumps it.
S.

^^^
THIS!

 

[Lowrider]

I wouldn't pay it off at that rate bro. Also, I paid off 2 cars at once a year ago. My score dropped 25 points because of that. Now I keep a auto loan open but have everything else paid off.

How does paying off a loan affect your credit?
I've never seen that affect my credit.

Actually now that I've remembered, I was told by one of my credit union people that store credit inquiries affect and drop your credit score.

 

[Lowrider]

Lot has to do with your debt to income ratio. That's a big factor, obviously late payments and credit utilization are others. Plenty of forums and articles that explain fico scores.

I doubt you'd see a huge increase if you have above average credit to be honest, you may even lose a few points since you're not utilizing credit.

at 1.9% and if you're not cash strapped, I'd keep paying it, and use the money for better investments or enjoyment. You really do not see an interest rate benefit once your credit surpasses a 740 FICO.

Your credit score is more of an indication on how responsible you are with credit, not how fast you pay things off. Banks use it as an investment factor of you. They see a higher credit score as a solid investment, as you will use credit, but they will also see you as a safe bet in repayment.

A big difference between a 600 score person and a 750 score person could be as little as the 750 score person just has zero late payments, whereas the 600 score person had a few, but both use credit the same.

Sorry way to many factors can go into this though.

Care to explain more of the bold sentence?

Also do you know what factors banks determine to auto loan rates for various clients?

And if someone has very bad credit, how would you recommend or advise them to get back to rebuilding it?

Thanks!

 

[krahooligan]

That'd be sick. I'd rather travel Europe than hit a button, go PSSSSSSHHHHT, and make my car look like a hotwheels car, except unable to move. Shit is so gay. Girls trying the IG thing, and I pointed that out too, they ALL have the same shit, some wacky ass wrap job, bags, and loud shitty exhaust. woohoo. Hardly any of them make power.

they really do. I tried the IG fame thing. it gets boring posting pics of your car over and over and over. I don't need to impress people ill never meet.

 

[Zemedici]

How does paying off a loan affect your credit?
I've never seen that affect my credit.

Actually now that I've remembered, I was told by one of my credit union people that store credit inquiries affect and drop your credit score.

open lines of credit affect your credit score.

they really do. I tried the IG fame thing. it gets boring posting pics of your car over and over and over. I don't need to impress people ill never meet.

Bingo. All that stuff is summed up by this.

 

[Project Whitemare]

Haters...

Hahahaha.

Pay off the car, unless you are stuck in the pursuit of more horsepower! In which case, blower!

 

[krahooligan]

Haters...

Hahahaha.

Pay off the car, unless you are stuck in the pursuit of more horsepower! In which case, blower!

I knew you'd show up sooner or later. pursuit of more horsepower is addicting. once you have it, you always want more.

 

[Zemedici]

Haters...

Hahahaha.

Pay off the car, unless you are stuck in the pursuit of more horsepower! In which case, blower!

lookie here mr i have forty-seven GT350 steering wheels. :lol:

 

[Project Whitemare]

I knew you'd show up sooner or later. pursuit of more horsepower is addicting. once you have it, you always want more.

I have an alert set to go off whenever someone talks about one of my Bag Bros! Hahahaha!

If you are content with the power, you're fine as is.

You can always get a blower in the future. But once you do, it's over!

lookie here mr i have forty-seven GT350 steering wheels. :lol:

All out now! Haha!

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