Posts: 11
Registered: ‎07-24-2012
How long to wait before financing a second car?

Hello, any feedback is greatly appreciated Smiley Happy


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%