I have $19000 to buy a new car. How much should I finance to build good credit? My score is 750 from TransU.?

not pay it in full but to finance to build credit for a new car.

Public Comments

1. Your score is already pretty good. Use as much as you like as a down payment. Financing the rest will be easy. More important than the amount is carrying a balance for a while and paying on time.
2. thats very goooood..and you have more than enough for a down payment...if u are intrested in building your score..buy 2 cheap new cars..and finance them..
3. In terms of general FICO, it won't go up by much. However if you want to build up your auto credit rating then finance 10k for 36 months.
4. Your score is already pretty good at this point! I would say you could probably finance any amount oyou want and not affect your score to much one way or another. But what I would do is get a credit monitoring service that includes all 3 and see what each credit bureau has you at score wise. The website below is loaded with really good information and it's worth reading! Especially the section "how credit scoring works"! I got my credit score from 480 to 709 from here!
5. Thats impressive to have 19K savings and excellent FICO score too.. Unless U really, really, really want to have it, Go for it. My question is why invest in a brand new car when the value almost drops by a few 1000 when u drive car out of dealer's lot. Get a used car which has low miles and get a warranty.
6. Don't worry about having a high credit score. That just means you have lots of credit. You should take the $19000 and pay cash for a car so you don't have any payments to worry about. $19000 is more than enough to buy a new reasonible new car or a good 2 year old used car.
7. I sort of agree with shrsandy. You don't get a mortgage in order to improve your credit score to buy a car! Pay as little as you can on the mortgage, then pay as much as you can on the car. Mortgage interest rates are much lower the car loans! Unless you can find one of those dealers offering next-to-nothing credit...anyone still doing that?