Hi all! I'm just looking for a little guidance from some of the pros.... Honestly, I don't even know if I'm posting this in the right forum, but I have learned sooo much from many of you, I figured I'd start here. Backstory: bk7 d/c'd 12/15. So far rebuilding with several lines of credit. I am a member of NFCU as well as our local CU, who we bank with regularly. We have a line of credit with them that survived bk, as well as 2 loans paid in full with them prior to bk.
My hubby and I both have auto loans that we didn't reaffirm and pay monthly totaling about $630 monthly. We also have a back tax bill that we pay monthly ($300) that is scheduled to be paid in full in February if we don't pay it off before that. Sorry for the long post.... The situation is this: in an effort to decrease some expenses, we want to drop one of the car loans and pay cash for a car suitable for my daily commute of about 50 miles/day. We do have some cash in savings but not that much. We could probably do about 3000 for a car. Our credit union said that we could finance a vehicle from a private seller but I haven't applied yet. I'm just not sure what the best option is for us. We want to be smart but at the same time, we have to have two reliable vehicles as we both commute. Any feedback would be appreciated. Thanks!
