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3187: Should You Get a Car Loan to Improve Your Credit Score? Heck No! by Paula Pant of Afford Anything

Optimal Finance Daily - Financial Independence and Money Advice

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The Pitfalls of Car Loans and Smart Credit Management

This chapter debunks the myth that car loans enhance credit scores, highlighting the significance of low credit utilization through responsible credit card use. The speakers advocate for prudent borrowing practices, suggesting that loans for depreciating assets like cars are less beneficial compared to more strategic debts like mortgages or student loans.

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