The Power of 50,000 Miles

I’m a mile and points collector. I haven’t talked about it much, but I’ll be getting into it sooner or later this year.

I love to open up new credit cards for the sign-up bonuses and utilize them for free trips around the world, whether in economy, business, or first class. It’s an experience that I get to enjoy because of my churning and credit card hobby. However, this isn’t always the case and the points could always be used for something better.

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How I Purchased a New Car with No Down Payment and a 0% APR Loan

Back in March of 2015, I accepted an offer to a new job about a thousand of miles away from home. I had no car of my own, so I decided to purchased a 2015 Toyota Camry LE for its reliability and brand. The total cost of the car was $22,079.12 and I did not have to put down a down payment and was also approved for a 0% APR loan for 48 months.

Now how exactly was I able to purchase a new car with no money down and still get approved for a 0% APR loan for 48 months?

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The 5 Factors That Affect Your Credit Score

The credit score is a number derived from information about your credit history. Lenders, such as auto dealerships, credit card companies, mortgage bankers, and more use this number to determine how reliable you are and how risky the loan it will be to them.

It is important to have a good credit score as it will signify that you are financially responsible and that your life is on the right track. It can also drastically reduce the rate of interest for new loans or even allow you to be able to rent your perfect place, as some landlords may perform credit checks!

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