Who's letting investments pay for their truck??

[Raptorbegone]

Who is this guy “Investments”???

I’ll gladly let him pay for my truck

Although I don’t have an account specifically for my truck I will do a loan simply because my credit report says I need more varied debts (I have no debt other than my paid off monthly credit card). So I guess that means my money can still be working for me while I have a monthly payment on the truck

your guess would be correct. Your money continuing to work for you is the whole point.

 

[RogueClimber]

your guess would be correct. Your money continuing to work for you is the whole point.

And my credit report gets closer to the elusive 850 (or whatever the max is)

 

[Raptorbegone]

And my credit report gets closer to the elusive 850 (or whatever the max is)

and an 850 allows you to do what that a 750 does not?

Sounds like a goal with no real point other than someone being able to say they have an 850.

you already get the best rates pretty much anywhere above 700

 

[Raptorbegone]

and an 850 allows you to do what that a 750 does not?

Sounds like a goal with no real point other than someone being able to say they have an 850.

you already get the best rates pretty much anywhere above 700

850 why? who cares?

you already get the best rates at anywhere from about 700 on up.

Getting an 850 is like having a goal with no real point. other than bragging rights, (but no one else cares).

Should you have great credit? yep. But there is a limit to where it really needs to be in order to get whatever you want.


The whole point was keeping your money free to make more money while you pay off this giant expensive depreciating asset.

 

[Gdog]

let me chime in here. first off your avatar name "raptorbegone" is a dead giveaway that your not a raptor fan just another troll. Secondly if I want to pay for my raptor in pennies its none for anyone's business but mine and I sure don't need your help on what advantages my credit score brings. So take your dumb--- question somewhere else..

 

[RogueClimber]

850 why? who cares?

you already get the best rates at anywhere from about 700 on up.

Getting an 850 is like having a goal with no real point. other than bragging rights, (but no one else cares).

Should you have great credit? yep. But there is a limit to where it really needs to be in order to get whatever you want.


The whole point was keeping your money free to make more money while you pay off this giant expensive depreciating asset.

I get your point and have agreed with it…

I was just saying there is an additional benefit that may help not only me but others achieve a higher credit rating, you know a win win sort of thing.

If you feel your point is all that should be discussed in your thread then I shall delete my posts

 

[Badgertits]

I dunno man….any $$$ I have invested in a taxable portfolio I pretty much assume I’ll never take out until either a) I’m fully retired or b) I absolute NEED it b/c in some emergency scenario

what you’re saying has some merit, I prefer to only let equity investments ride out in perpetuity (or the cash allocated to them) but would consider dumping a hard asset for another in like kind, selling a motorcycle for a truck for instance, or taking the profits from a real estate investment & throwing down on a truck.

I like to have very little debt/low payments so I try to pay off my vehicles in full quickly & then have 1 less payment to worry about & more free cash to invest. I have 2 kids both in daycare so I have a lot of bills as it is- don’t need any more.

problem i also see w/ doing as you suggest would be the tax implications from selling outright or using the dividend income to pay the truck loan….plus you have the interest on the loan to consider as well.

even though they’re depreciating assets - paying off quickly allows you to be more flexible w/ your extra cash in the present, & you also can enjoy the freedom of having no car payments for 2-3 years then go ahead & trade in the vehicle w/ 40-80k miles on em under 5 years old & get a pretty heft trade-in value, the larger the loan the longer it takes to pay down right?

 

[Raptorial]

let me chime in here. first off your avatar name "raptorbegone" is a dead giveaway that your not a raptor fan just another troll. Secondly if I want to pay for my raptor in pennies its none for anyone's business but mine and I sure don't need your help on what advantages my credit score brings. So take your dumb--- question somewhere else..

I think he just wanted to share with us how successful he is, since his Mom didn't answer his call today

 

[2slo4u]

I've had the elusive credit score of 850 off and on for the last few years. Oddly, it dropped by 30 points when I payed off my mortgage. I've never cared about my credit score and have never made it a priority to have a high score. I try to take out smart debt (whatever that means), never miss a payment and usually pay it off early. I've never received any special treatment or interest rate on a score above 800 other than a "wow, this probably won't be a problem to get approved" from someone who has pulled my credit. I guess I could say that I've had transactions "fast tracked" due to the high score. Other than that, I don't see a need for anyone to care once its above 750.

 

[GCATX]

700? They have any raptors at the buy here/pay here car lots?