Hey, I was wondering if someone needs credit to buy things. People in my family have said I wouldn’t be able to buy a car or a house without credit. But if I’m saving up cash to pay for things outright, do I really need credit?

Note: I’m sorry if this is the wrong place to ask.

  • jordanlund@lemmy.worldEnglish
    3·
    3 months ago

    Depends on what you’re buying.

    A $5,000 used car? Sure, you can save up for that.

    A $40,000 new car? Good luck!

    A $400,000 house? No chance without credit.

    • DaddysLittleSlut@lemmy.worldOPEnglish
      21·
      3 months ago

      For me I planned to live off nearly 2.5 and put back about 1k to 2k every month on a 3% interest for 30 years.