I am wanting to purchase a used car at the beginning of 2008. I figured by waiting until 2008 the prices on the 2005 and 2006 models would go down.
I'm not sure of my actual FICO score at the moment but on my credit card account it shows a score of 677.
I have $8,000. in credit card debt right now but I can at least pay $4,000. of that off my the first of the year.
Would it be better to just keep paying off this debt over the next 6 months and then at the first of the year apply for an auto loan or get a personal loan now and pay off all credit cards and pay the loan down to $4,000. by the first of the year then apply for an auto loan?
Other than $7,000. in Student Loans I have no other debt.