Will installment loan mess up credit when already approved for car?
Sexy Redbone Asked: Will installment loan mess up credit when already approved for car?
Ok just trying to get some info. I have recently been approved for a suv i wanted and am putting money down on it. But because of this it has left me short a little. If i was to get an installment loan that says no credit checks which is my last and most dreaded option, would that mess up me finalizing my truck? Will the loan Company even check my credit again when i go in to finalize? Or is it best to wait till that’s all done before doing any of that?
Answers:
Buying a new/used SUV, and already being broke & needing a loan for daily expenses is a really really bad sign of what is to come.
I KNOW you want that vehicle, but at what cost? What do you have planned if something happens & you need some major repairs in 6 months?
I’m just trying to play devils advocate here for a minute.You honestly might want to consider a little cheaper vehicle, putting less down on it, and stashing the rest of that cash away for a rainy day.Because none of us knows when the storms are going to hit & it’s only wise to be prepared.
A payday type loan is trouble with a capital “T”!