next car....

SON240sx Automotive
41

Oh, I shoulda wrote that out better.

I fucked my credit up when I was 18 with a Canadian Tire CC and my CIBC overdraft…really bad. I was never taught about credit and the ramifications of having bad credit. (I’m not blaming anyone, it’s my fault, I just didn’t know) I never made payments and they were chasing me, then collections, then they got written off…very bad.

To rebuild it, I had to leave a 500 dollar deposit on a CC with WElls Fargo with a 33 or something percent interest rate. I charged everything and paid on time. Then I got a loan for 1000 from them and carried the loan to 10 months. (the term was 12) I kept doing small things like that till it was decent enough to get a regular card from my own bank…it went up from there but today, I still wouldn’t get approved for a decent mortgage or a 60,000 dollar car or anyhting like that…yet.

It takes a few months to kill your credit, but it can take a decade to rebuild it.

42

you know what though? with a car on my credit, i could still buy a house, i mean, i live up north. you can buy houses up here for 60-100K for something pretty decent. i’m fairly sure that 10-15 won’t hurt me too much in this aspect, but i can also see where you guys are coming from. and 10-15 is what i want to spend total, not finance. i’ll more than likely be selling the 240 to help pay for it.

43

I know you could, but what we’re trying to say is, you shouldn’t. Then again, everyone told me this shit and I did it anyway. Maybe everyone should make the same mistake and end up hating themselves for it. But don’t get confused, it IS a mistake, and you WILL regret it.