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Establishing credit
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<blockquote data-quote="James" data-source="post: 157101" data-attributes="member: 2"><p>That's the best way to do it. <img src="https://www.dirtbikeaddicts.com/static/images/smilies/thumb.gif" class="smilie" loading="lazy" alt=":thumb:" title="Thumb :thumb:" data-shortname=":thumb:" /></p><p></p><p>However even getting a car loan for one year won't cost you much in interest. For example a $10,000 loan at 5% (very high) paid off in one year is only $300 in interest.</p><p></p><p>Make it a $6,000 at a more respectable 3.5% and we're talking only $115 in interest for the year. Depending on your credit score/interest rate when you go buy a house, you could be paying that much extra a month in interest.</p></blockquote><p></p>
[QUOTE="James, post: 157101, member: 2"] That's the best way to do it. :thumb: However even getting a car loan for one year won't cost you much in interest. For example a $10,000 loan at 5% (very high) paid off in one year is only $300 in interest. Make it a $6,000 at a more respectable 3.5% and we're talking only $115 in interest for the year. Depending on your credit score/interest rate when you go buy a house, you could be paying that much extra a month in interest. [/QUOTE]
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