need a new car - advice?

**Cucumber** · May 8, 09, 12:20 am

I want to get a convertible. I've never had a fun car and think it's time that I should get one

What do you recommend that is around 20k? I'm totally cool with a used late model too. What out there will give me the most bang for my buck?

And can I buy the car on my American Express so I can get my membership reward points for the purchase

**fffresh** · May 17, 09, 5:22 pm

The risk with buying a car on a credit card is that many issuers now are slashing credit limits left and right. Suddenly you may find yourself in trouble if the CL decrease causes your purchase to now be 80% of the card's limit. In addition, many issuers are verifying income. Be sure you can prove your income through tax returns.

**Cucumber** · May 19, 09, 12:25 pm

Yeah that's what Im scared of

and I'm SURE too that the minute there's a big charge that will give them reason to suddenly flag the account. The American Express financial review style I totally disagree with. They should not do that if your account is in good standing and you aren't using much of your credit anyway.

ps I decided on a Boxster

**penfedwarning** · May 23, 09, 11:55 am

When it comes to loans I would STRONGLY ADVISE against going through Penfed credit union. They may advertise a great rate but the headache of the paperwork and strict requirements you have to do will make qualifying for it very hard.

**penfedwarning** · May 23, 09, 11:59 am

Also there are other credit unions out there that give good interest rates on used car loans too. Check with them first before you go to a bank.

**Cucumber** · May 26, 09, 11:40 pm

Got it. But I only put 6.5k on the Amex. I'll post pics soon

**rickygips** · Jun 30, 09, 11:32 pm

Thanks for the advices I read here. What I learned here are great details these are quite new to me. Thanks again.

Thread: need a new car - advice?

LinkBack

Thread Tools

Display

need a new car - advice?

Thanks a lot