How long to wait before financing a second car?
12-07-2012 11:16 AM
Hello, any feedback is greatly appreciated
I applied for my very fist auto loan with no cosigner in August 2012 for $24k and put down $10k ($32K total) @ 3.4% Rate.. Made my 1st payment in October
Now im hoping to get a second vehicle around March for about $40k and putting down $30k leaving me with around $10k to finance.
My credit score was 720 when i applied in August and i have yet to miss any payments so i expect my score to improve a bit by March. So my question is, should March be a long enough wait to apply for a second loan? Or is that too soon and wait a year or so?
My Income is about $45k yearly.... DTC of 9%