Do I need to get a credit card before getting another auto loan?

[dean407]

My discharge was about 1yr ago. I haven't applied for any credit in the past year at all. I only have a $250 revolving account with my credit union.

My FICO should be 666 or better after the $250 payment is made Friday.

I am considering trading in my car. I reaffirmed my auto loan and have paid my loan on time except for one late payment over 2 years ago.

My current auto loan is with Southeast Toyota Finance.

Is it necessary or better to acquire a credit card prior to trying to get another auto loan?

Thanks in advance...

Dean

[drowning123]

I got a car one month after discharge, but the interest rate was high (in the 20's). I traded it in 8 months later for a new car and got 10%. I can live with that. I deserve it. You should be eligible for a loan. Good luck.