Member
Born123
Posts: 11
Registered: ‎07-24-2012
Re: How long to wait before financing a second car?

Well i thought about that, and the reason why i got the first auto loan was to help raise my credit score for when im ready to buy a house ina couple of years. I have no previous loans in my history.... just credit cards.

 

Im going to be selling a car i never drive anymore and hoping to get about $25k, which i will then use as a downpayment along with $5k i have saved up.

 

I could easily pay off the 1st loan with the $25k but then wouldnt have much to put down for a second loan for the car im looking to get.