/biz/ - Business & Finance

[Anonymous No.25742344]

I'm 28 and until this year I had no credit and I was happy with that because I also had no debt.
Then I crashed my car, had to get a new one and got hit with a 21% APR.
I had some unpaid hospital bills that just today finally fell off.

When should I refinance my car loan? I know it will add to the length of my loan so I'd like to do it sooner than later, I also know 620 isnt that great.. but $375/mo is killing me.
Are credit cards a scam? Because they feel like a scam..
Also general tips about credit would be appreciated, I'm tired of living with my parents.

[Anonymous No.25742492]

are you saying you bought a car with a credit card interest rate loan

[Anonymous No.25742539]

>>25742492
Answer this OP wtf

[Anonymous No.25742550]

>>25742492
idk I went to carmax, my loan is through "american acceptance"
i really didn't have many options, didn't have enough saved to buy anything outright and carmax was the only place that approved me with my 530 equifax at the time.
other dealerships didn't even want to run my credit because they knew it wouldn't pass

[Anonymous No.25742699]

>>25742550
Refinance the loan and try to get a lower interest rate, that's like buying a car with a credit card. Credit cards and high interest loans like that should be paid off as soon as possible because they are increasing the amount you owe by 21% per year until you pay it off.

The alternative is to not pay and deal with a repo agency trying to get the car back and them calling you every day and your credit is fucked for the next 7 years

[Anonymous No.25742768]

>>25742492
Isn't that over the rate? I thought the max cc loan rate was like 18.99% lol.

>>25742344
Retard, you should have got a used car, not a new one. You deserve your shitty interest rate.

[Anonymous No.25742817]

>>25742699
you think refinancing now is worth it?
i 'can' afford the payments its just kinda ridiculous.

>>25742768
its a 2014 subaru legacy 2.5i premium with 57k miles (now 60k)

[Anonymous No.25742933]

>credit cards are scams
Yes but only if you use them in the way the Jews want goyim to use them. Get a credit card or two and make a few purchases on them every month and then pay them back entirely every month. I’ve basically used mine to pay for Netflix and I have an 800+ credit score now. Your other option is to not play the jew’s game and then get fucked when you want to buy a house or a car.

[Anonymous No.25743047]

>>25742933
Read the thread he's already at he didn't want to play shlomo's game and he has a fucked car loan

[Anonymous No.25743082]

>>25742817
Get that interest rate as low as you can dude you're going to end up paying like twice the price of the car in loan interest if you leave it as is

[Anonymous No.25743267]

>>25742344
720+ credit here
you
should've bought a beater used toyota
should've used credit card as soon as possible even though you got cash, and payback on time with 0 interest just to accumulate credit score so you can get low interest loans when you desperately need it
shouldn't have gone to the hospital when sick, just die like a sinner, only go to hospital when requiring surgery because of accidents, and get out as soon as possible, take as little drugs as possible

[Anonymous No.25743294]

>>25743082
it actually is twice. if i make these payments in full for the whole term i'll be paying 26k for a 13.5k car.
i've only made 3 payments so far and my 4th will be this friday.

basically I just want to know what my goal should be for a score before i refinance to actually get a good deal.

[Anonymous No.25743354]

>>25743267
>shouldn't have gone to the hospital when sick,

I wasn't sick, I was riding a longboard down a hill and hit the asphalt face first at 35 mph, they had to dig gravel out of the inside of my lips.
i didn't pay it because the hospital gave me a fucking staff infection and then had the balls to charge me to diagnose it and then make me pay for the antibiotics.

[Anonymous No.25743363]

>>25743294
Consistently paying every month is going to be he main way you can improve it right now. You might be able to get a better rate if someone with good credit cosigns the new loan

[Anonymous No.25743415]

>>25742817
lmao

[Anonymous No.25743467]

>>25743354

[Anonymous No.25743478]

>>25742344
375 is nuts dude. You definitely need to refinance that what the fuck.

Credit cards aren't a scam but you need to maintain an iron fist of a resolve to not get raped by them. I take a new one out at least every year and just use an intro period. As of now I have probably 40k worth of a line of credit with credit cards and I expect it to keep growing.

If the car is a nice car you should probably consider selling it and getting a used Toyota if there's enough equity in it.

[Anonymous No.25743480]

>>25742344
They feel like a scam because you had shit credit. This is what you get for ignoring them.

[Anonymous No.25743499]

>>25743354
>longboard riding
>28 years old without taking advantage of credit system rewards without accumulating debt
>21% APR on a car loan
Anon...

[Anonymous No.25743500]

>>25742344
>HAD to get a new car

Just get a used honda. You probably dont get pussy anyways and if you did you'd realize girl dont really car if they get fucked in an accord or tesla. Yeah you were conned into playing the jew game and you lost (of course).

[Anonymous No.25743501]

>>25743354
sorry lad. That's sad.

[Anonymous No.25743509]

how the fuck is your credit so shit? pay your bills you fucking deadbeat!

[Anonymous No.25743655]

>>25743500
this. when I was young and broke I bought a 20 year Acura for $2000. Drove that fucker into the ground over 3 years, about $83 a month. It would have lasted longer but wouldn't pass CA smog check so I had to scrap it. Being an Acura it was a nice car too. After sending it to the scrapyard if you're still broke repeat with another old car.

[Anonymous No.25743669]

>>25743509
ive paid all my bills on time or early my entire life except that one hospital bill.

[Anonymous No.25743739]

>>25743655
>>25743500
it wasn't a new car, just new to me.
the only places around here that sell <10k used cars are buy here/pay here's that don't report to credit bureaus and I'd be even more fucked.

I also do work for those places sometimes (auto body tech) and jesus fuck do not buy a car from those places. The corners they try to cut are not ok.

[Anonymous No.25743745]

as for the car loan
ur done buddy, get rid of the crashed car, it's an endless money pit, pay back the debt as soon as possible so the jews won't siphon too much off of you, ask parents

new car? don't even think about it, u don't have the money, just walk buddy before you can repay the loans, then you get a used cheap toyota

>>25743354
damn so that's how the pharma jews got you....

[Anonymous No.25743813]

>>25743500

seconding this. Idk if you've never bought your own car before but you can always find a sub $5k old japanese beater car that will take another 100k miles before it dies. nissan, toyota, honda, acura etc thats 15-20 years old will generally hold up very well assuming you make even the slightest effort to inspect the car before you buy. I bought a nissan at 3k several years ago, put over 50k miles on it and its still running fine, before that was driving an acura with a KBB value of like $2500 and that thing never had problems, I just crashed it like an idiot.

[Anonymous No.25743823]

>>25742344
Credit cards will use BSV. If you own 1 BSV you will be able to lend to them soon.

[Anonymous No.25743842]

>>25743739

the only places around here that sell <10k used cars are buy here/pay here's that don't report to credit bureaus and I'd be even more fucked.
>auto body tech

wait why didn't you just buy off craigslist?

[Anonymous No.25744115]

>>25743739
don't buy from a dealership then. find a private seller. try craigslist

[Anonymous No.25744168]

>>25742344
>Are credit cards a scam?
Only if you're stupid and have no control over your spending. Treat a credit card like a debit card. If you can't afford it with a debit card don't use a credit card to pay for it. The trick is to pay the balance of your card before the interest is applied. For my card the interest is applied on the 24th. I make I pay my balance off by the 23rd and I don't use it again until the next month. Super easy to bring up your credit score with a credit card. Once again though, if you're retarded and/or have no control over your spending then don't do it otherwise you're giving the credit jew easy money.

>when should I refinance?
never

>$375/mo is killing me.....tired of living with my parents
You should be thankful your parents are still tolerating you at 28. How much money do you owe on the car? Put every last spare dollar in to paying off that overpriced shit heap. Get a second job and put that money in to paying off the car as soon as possible. Next time don't buy at a buy here pay here lot and next time buy a cheaper car. You need to get out from under the debt that car as soon as possible. If you can do that and be responsible with a credit card you can raise your credit score so you won't get fucked by shit like that in the future.

[Anonymous No.25744272]

>>25742344
Firstly u gotta build a good credit score and then u gotta use ur credit cards to Purchase income generating assets like BTC or Oro or link

Don’t waste ur money by wasting it on a car which is a liability

[Anonymous No.25744325]

>>25742817
Personally no refinancing is bad, use money to invest
Investing is key, get an altcoin
Albt will pump soon
Then u can go buy 2 new cars

[Anonymous No.25744384]

>>25744325
How do you know it will pump anon? Later today?

[Anonymous No.25744394]

>>25742768
Lol, I like this guy

Only fags buy brand new cars
It lose 40% of its value the moment u walk out of the showroom while I’ll be busy here making 40% on xdb in a few months

[Anonymous No.25744428]

>>25742344
21%interest. Wew lad. Thank fuk i own bank stocks

[Anonymous No.25744484]

>>25744384
Must be because Soulja boy wants to make a song about albt

I think it will happen soon, I’m already fomoing
Hahaha the memes with him are hella funny

This coin has reached celeb recognition

[Anonymous No.25744719]

>>25742817
>>25742344
>/biz/ - Business & Finance
>I'm 28 and until this year I had no credit and I was happy
>got hit with a 21% APR.
>I thought the max cc loan rate was like 18.99% lol

sell that car and get a bicycle. You're in a financially fucked spot treading water. Either lower your expenses or make more money, ideally both.

[Anonymous No.25744814]

>>25744394
to be fair, you buy a new car because you know what you're getting into at that point and don't have to deal with retarded problems that weren't disclosed and you couldn't figure out. Cars really seem to upset this board because DEPRECIATING ASSET NOOOOOOOOOOOOOOOOO

[Anonymous No.25745246]

>>25743739
>the only places around here that sell <10k used cars are buy here/pay here's
>He doesn't know about private sales
>He didn't harass people on the missed connections page of Craigslist while shopping for a used beater car
>He didn't consistently low ball offer Craigslist "mechanics" that "know what [they] got" until he could find one dumb/desperate enough to sell to him at a lower price.
OP you are the epitome of the phrase "poor people just enjoy being poor."
As you are right now you will never make it.
But maybe, just maybe, we can turn that around

Also
>>25743354
>longboarding
You're an absolute faggot that deserved to get injured.
You should know better then this.

Drop all of your bullshit California Marxist nonsense and look into how to balance a budget, look into getting a cosigner when you go to refinance (your apr realistically shouldn't exceed 8% even at your current credit unless you also suck at negotiating), and start some kind of side hustle to aggressively pay down whatever debt you have in order of the accounts with the highest interest. Alternatively, if you have multiple debt accounts look into consolidating your debt. Then after that go get a $3-5k beater Toyota Corolla, Toyota Camry, or Honda Accord off of Craigslist. Finally sell your Subaru either as a private sale to recoup some of your losses, or surrender it to the bank if you can't find a buyer and eat the loss.