Wanted to buy a car (Tesla). I've avoided loans my whole life because of the cautionary tales against them. Up until now I have only purchased what I can afford.
I've had 2 credit cards for the last 3 years that I pay off in full every month.
I got denied by 3 different banks for the loan I requested stating:
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LENGTH OF TIME ACCOUNTS HAVE BEEN ESTABLISHED
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LACK OF RECENT INSTALLMENT LOAN INFORMATION
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RATIO OF BALANCE TO LIMIT ON BANK REVOLVING OR OTHER REV ACCTS TOO HIGH
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TOO MANY ACCOUNTS WITH BALANCES
Why do I have to waste money to prove i'm responsible with money so I can get a loan? What do I purchase with a smaller loan and how do I offset the interest payments so I can build my credit history?
Edit: Thank you for the replies, I'm taking it very seriously and trying to learn.
Submitted September 29, 2018 at 04:50AM by ProperSauce https://ift.tt/2R6F0Yl
