> How do you keep that from negatively impacting your credit rating?
It has, my credit score isn't the greatest. But I don't care. I don't take out loans to buy things because of the high interest rates. Instead, I pay for things with investments.
Borrowing money to buy things is a trap. Borrowing money to buy a new car is financially inept. Buy a beater for cash, invest what you would have spent towards a new car, and eventually the growth in that investment will provide enough to buy that new car. You'll be much better off.
It has, my credit score isn't the greatest. But I don't care. I don't take out loans to buy things because of the high interest rates. Instead, I pay for things with investments.
Borrowing money to buy things is a trap. Borrowing money to buy a new car is financially inept. Buy a beater for cash, invest what you would have spent towards a new car, and eventually the growth in that investment will provide enough to buy that new car. You'll be much better off.