If you’re in the market for a vehicle, want to maintain liquidity, and save on paying any interest, a zero percent APR loan to buy a car is one way you can bolster your creditworthiness. Particularly if you have larger future planned transactions such as borrowing to buy a home or want to make sure you have a good name on paper when you seek out financing for a business venture. Provided your budget allows for the car payment and other related expenses, you can anticipate this type of loan to pay off in more ways than one. Often times, debt in general gets a bad rap as being evil. Rather, it’s the deliberate avoidance of repaying the debt that is evil. Though there are times when sinking under water in note obligations is the result of unforeseen catastrophes such as job loss, illnesses, and natural disasters, the cause of becoming an indentured servant to your lender is frequently more likely due to poor planning, impulse buying, and overzealous use of bank offerings. Credit Bureaus report to prospective lenders of your repayment habits and the next time you apply for a loan, those bureaus will reveal to what degree you can be trusted to honor your financial commitments. Good credit is a testament to your faithfulness in keeping your word.
Anthony Montenegro has been featured in: Forbes, CNBC, USA Today, US News and World Report, MSN Money, The Huffington Post, CBS News, Entrepreneur, The Simple Dollar, Go Banking Rates and Yahoo Finance!