Stability, stability, stability

The most important information on your credit report is from the last two years. Think about that while you're planning your timing to buy a new vehicle.

Now here's a secret from the car finance world. Stability in your job and in your address is a great way to predict credit worthiness. That's one of the reasons behind requiring young people to get a co-signer, you know.

Now in the not-too-distant bad-old-days, a lot of dealers wouldn't mess with you if you had a credit score under 600. Over time, special finance departments popped up inside of auto dealerships, and 480-540 loans became possible -- sometimes even routine.

Nowadays, with the credit crunch, dealers are having to shop such loans around to more banks than they used to. Banks, oddly enough, are looking more and more at how much money you make (your ability to pay off the loan) instead of your statistical chances of defaulting on a loan (which is really what a credit score represents). You are greatly helped if you've been at the same address and same job for two years straight.

Stay at the same address a little longer. Stay in one job a little longer. Build up your downpayment. You'll wind up better off. More.

A word about the wacky cars we're showing here...

You might as well have some fun while you're reading all this, and you might as well get your imagination going, too. Pictured below is the Rinspeed Splash, designed by a Swiss company. It converts into a hydrofoil capable of going 50 mph on water. Read about all the cars shown here.