Getting rid of credit inquiries on report

[elmetal]

The caveat to the above is: if the car loan is cheaper than what you could make in investments, by all means, get the loan. I don't 100% suscribe to the dave ramsey method here.

If I could lend money (say in a mutual fund) for 6% and I only pay 3% on my car loan, I am essentially making 3% for having the loan so........

granted I will say, the car loan is a set fixed % whereas the income otherwise is not. so take that with a grain of salt.

 

[NovemberEcho]

Didn't you say you are carrying a balance on your credit cards? If you have plenty of money, go buy a car with cash and don't worry about what your credit score is. Seriously, a credit score has no correlation to wealth. Being deeply in debt has a direct correlation to negative wealth.

I am carrying a balance at the moment, but not a huge one. My liquid capital is a bit tight at the moment from just buying a house and getting married a couple months ago. The CC debt is mostly from buying things for the house, as we didn't take any furniture or anything except a bed with us when we moved in. We are planning on leasing a car for my wife.

 

[wheelsup]

I am carrying a balance at the moment, but not a huge one. My liquid capital is a bit tight at the moment from just buying a house and getting married a couple months ago. The CC debt is mostly from buying things for the house, as we didn't take any furniture or anything except a bed with us when we moved in. We are planning on leasing a car for my wife.

You might want to take a step back and look from someone else's shoes. If cash is tight and you are resorting to leasing you're broke man. This is a pilot forum, we've all been there. Buying a house, car, and furnishing a house on debt is not how to start off on the right foot here. You're a pilot, you need to keep your lifestyle simple and frugal. Hopefully your new bride is on board with this, or she will quickly drain the coffers buying shoes and jewelry.

 

[wheelsup]

absolutely agree. take it to britain, france or spain and they most people here would be flabbergasted how cheap wireless service can be (or how ridiculous r*ped we are)

if you do plan to bring that phone to a GSM carrier just know that you will be limited in LTE/3g usage. it does have the antennae, but the LTE bands you have on that will not work fully on ATT towers. just for future reference. 3G will be fine though.

that's a nice MVNO deal for verizon! nice!

A1453 has more bands than the A1533 model ATT uses.

http://www.techwalls.com/iphone-5s-a1533-a1453-a1457-a1530-differences/

 

[elmetal]

ah, that's the sprint model, my apologies. most verizon branded phones are missing some lte bands for ATT. looks like yours isn't one of them

 

[wheelsup]

ah, that's the sprint model, my apologies. most verizon branded phones are missing some lte bands for ATT. looks like yours isn't one of them

Yes but starting with the 5s it included all the bands for LTE on ATT as well.

At the bottom:
https://discussions.apple.com/thread/6460741?start=0&tstart=0

The Sprint model is the most universal but used to be locked only to the Sprint network. Fortunately with mine this is no longer the case.

 

[elmetal]

That's good. Thanks for the info. My iPad 3 unfortunately was before that era. Verizon LTE only. :/

 

[NovemberEcho]

You might want to take a step back and look from someone else's shoes. If cash is tight and you are resorting to leasing you're broke man. This is a pilot forum, we've all been there. Buying a house, car, and furnishing a house on debt is not how to start off on the right foot here. You're a pilot, you need to keep your lifestyle simple and frugal. Hopefully your new bride is on board with this, or she will quickly drain the coffers buying shoes and jewelry.

Well, for starters, not a pilot. I'm a controller. Cash is tight at the moment, but by moment I literally mean a paycheck or two. We are going for a lease because vehicles are not a good investment. They never are and never have been. I own my truck, but just because I put way to many miles on it in a year for a lease. (I bought it 11 months ago with 4 miles on it and have just under 20k now) My total debt minus the house and car is just under $15k and will be paid off within the next 3-6 months at most. The reason cash is tight is because I timed my home purchase with getting fully checked out at my facility. Just before closing I got fully certified and a significant raise, so I'm in a rebuilding phase. My wife is out of work while we wait on her immigration papers, but as soon as those come in, which should be literally any day now, she'll be working again. I'm in fine financial shape. I am disciplined enough not to go above my means, and patient enough not to jump the gun. I was literally just wondering about getting some negative stuff off my credit report because It's become a pet peeve of mine.

 

[wheelsup]

Well, for starters, not a pilot. I'm a controller. Cash is tight at the moment, but by moment I literally mean a paycheck or two. We are going for a lease because vehicles are not a good investment. They never are and never have been. I own my truck, but just because I put way to many miles on it in a year for a lease. (I bought it 11 months ago with 4 miles on it and have just under 20k now) My total debt minus the house and car is just under $15k and will be paid off within the next 3-6 months at most. The reason cash is tight is because I timed my home purchase with getting fully checked out at my facility. Just before closing I got fully certified and a significant raise, so I'm in a rebuilding phase. My wife is out of work while we wait on her immigration papers, but as soon as those come in, which should be literally any day now, she'll be working again. I'm in fine financial shape. I am disciplined enough not to go above my means, and patient enough not to jump the gun. I was literally just wondering about getting some negative stuff off my credit report because It's become a pet peeve of mine.

Cool sounds like you have it all under control

 

[Nihon_Ni]

"We are going for a lease because vehicles are not a good investment."

This might be the funniest thing I've ever read.

 

[typhoonpilot]

"We are going for a lease because vehicles are not a good investment."

This might be the funniest thing I've ever read.

Tale of two cars:

In 1999 I bought a brand new Ford F-150 for right around $20,000. Kept the car for 3 years and sold it for $14,000. So other than a little maintenance and gas the car cost me $6000 for 3 years or $166/month. At the same time I leased a VW new Beetle for my wife. Lease payment for a 3 year lease was in the neighborhood of $250/month. There were also some costs at the front end to get into the lease and probably some at the back end when the car was turned in. Let's call it $1000 or so. That car cost $10,000 for 3 years. So tell me again how leasing is cheaper than buying.


TP

 

[NovemberEcho]

Tale of two cars:

In 1999 I bought a brand new Ford F-150 for right around $20,000. Kept the car for 3 years and sold it for $14,000. So other than a little maintenance and gas the car cost me $6000 for 3 years or $166/month. At the same time I leased a VW new Beetle for my wife. Lease payment for a 3 year lease was in the neighborhood of $250/month. There were also some costs at the front end to get into the lease and probably some at the back end when the car was turned in. Let's call it $1000 or so. That car cost $10,000 for 3 years. So tell me again how leasing is cheaper than buying.


TP

Well that's some great anecdotal evidence right there. I guess you're right.

 

[wheelsup]

Leasing makes sense if you plan to never own a car long term. If you're the type that buys and sells every few years leasing is a good option.

Long term, not normally a financially smart choice, but there are other intrinsic reasons for buying a new car every few years (safety improvements, reliability, increased economy, technology, etc.).

As a federal government employee, you really don't have much to worry about as far as your job or income goes. Pilots are different and we have to remain frugal and nimble our entire careers.

 

[dbrault17]

I've never seen a dealer take a CC for an entire car's purchase. A down payment, yes, but not the whole car.

I bought my house with credit cards. Gotta love Detroit.

 

[Sol Rosenburg]

I knew someone who bought his car on a card. High limit and was better than what the dealer had so it happened.

 

[jweldon]

Total Wireless is a good Verizon MVNO option. $62/month for two lines after taxes. Unlimited talk/text and 8gb of shared data. I switched at the beginning of July, so going on two months now. Got a brand new iPhone 5S from WalMart for $149 as well. Unlocked after 12 months usage, can bring to any carrier here with the antennas it has.

It does pain me to even pay $31/month each for cell service, eventually I hope to get that down further. It's incredible what "we" collectively spend as a nation on just a cell phone.

Did you have any problems switching to Total? I'm thinking about getting that 5S too but I've read some reviews that Total Wireless can be hard to activate on. How was it and how long did it take?

 

[wheelsup]

Did you have any problems switching to Total? I'm thinking about getting that 5S too but I've read some reviews that Total Wireless can be hard to activate on. How was it and how long did it take?

It took maybe 10 minutes at most for the port, and my phone worked 100% right off the bat. I did everything online via their website, which is the preferred method when dealing with Tracfone companies. I was previously on Net10 under the Verizon side, and had been for many years.

I had an issue with my wife's phone. The text messages would send on her new phone but received on her old phone. This was fixed with a call and from what I can tell is actually pretty common when porting numbers even at the big 4. Her data had issues and it was fixed changing the settings on the phone, which were different than the settings on mine. I also had issues with the auto-renew, when I purchased the activation kit it had 2 lines for $60, and both phones were listed separately under our account instead of together. It did charge and renew my line but not her line.

Come to find out when I called CS, which fixed it quickly, the data issue was completely related to that and I changed her APN settings back to mine and it worked perfectly.

Since ironing out the small issues I have had zero issues with anything. Works as advertised and costs us $31/month per line for unlimited talk, text, and 4gb of their restrictive LTE data. Fast enough for everything I do including faster than most hotel internet. We are saving around $320 for the year which means at the end of the year the savings paid for our new phones.

The 5S from TW is actually the Sprint model which is very rare. It's got the most antennas and bands of any 5S and can be used on any provider. It used to be the Sprint 5S was locked to Sprint only but they must've worked a deal with Apple/Sprint because it uses Verizon service. After one year of service the TW 5S can be unlocked and used on any provider.