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Unless your credit score is absolutely perfect, the APR on a used car loan is easily 8-10% That's a pretty big chunk of change to spend to boost your credit re

• chrisseaton 6y ago
  Right I was thinking about new car loans which I've seen at zero, which is why it makes sense to work the money somewhere else.
• buescher 6y ago
  Yeah, that's another way it costs to be poor. But you can read that page as "a new car loan can be as low as 4.2%, even if you only have fair-to-good credit". It can still make sense to hang on to the cash if you don't otherwise have a cash reserve.