Hello, I came to America in July. I got my SSN in October. So my credit history is still very new
I bought a Honda CRV in November. With 25% APR
Because it was my first vehicle purchase and I did not have a credit score. That's why I had to buy a car with a high APR to build credit history.
Since the day my SSN arrived, I have paid all my credit cards and car loans on time. My credit score shows differently in many programs. But I'm guessing between 670-710. and I now have a clean credit history of over 6 months.
I placed an order for MYLR on March 7th. I'm thinking of buying it by swapping with my car and using credit.
Now let's move on to my questions:
* In some places, I saw warnings that you can choose to pay in cash and change it to use credit after the VIN code is received. Could you give information about this subject? I couldn't find the details on the forum. When exactly do I need to replace it with credit usage?
* Since I do not have a long credit history, which loan firm do you think is the most suitable? I'm thinking of using Tesla Credit.
* I'm thinking of giving my car to Tesla and swapping it. But the question in my mind is this: If I sell the car to Tesla, they give a price between 21-24k. But if I sell it to another user, the vehicle has a selling price of 26-28k. The loan closing amount of the vehicle is 28k.
Will my chances of being approved for a loan increase when swapping vehicles? Or does that not matter at all?
* What would you suggest in this process?
Thank you very much in advance for your answers.
I bought a Honda CRV in November. With 25% APR
Because it was my first vehicle purchase and I did not have a credit score. That's why I had to buy a car with a high APR to build credit history.
Since the day my SSN arrived, I have paid all my credit cards and car loans on time. My credit score shows differently in many programs. But I'm guessing between 670-710. and I now have a clean credit history of over 6 months.
I placed an order for MYLR on March 7th. I'm thinking of buying it by swapping with my car and using credit.
Now let's move on to my questions:
* In some places, I saw warnings that you can choose to pay in cash and change it to use credit after the VIN code is received. Could you give information about this subject? I couldn't find the details on the forum. When exactly do I need to replace it with credit usage?
* Since I do not have a long credit history, which loan firm do you think is the most suitable? I'm thinking of using Tesla Credit.
* I'm thinking of giving my car to Tesla and swapping it. But the question in my mind is this: If I sell the car to Tesla, they give a price between 21-24k. But if I sell it to another user, the vehicle has a selling price of 26-28k. The loan closing amount of the vehicle is 28k.
Will my chances of being approved for a loan increase when swapping vehicles? Or does that not matter at all?
* What would you suggest in this process?
Thank you very much in advance for your answers.