Re: How long to wait before financing a second car?
12-07-2012 05:48 PM
I see no reason to pay interest for 2 auto loans when you can pay one off. I also see no reason to buy 2 (assuming) new cars so close to eachother. Since it seems you have already made the decision to buy the car I advice: pay off the first loan (a satisfactory auto loan might make you more attractive on next purchase) and wait until you have $10K (or more) down for the next car (you can also save more for down payment and wait for a good offer such as 0% financing or 1-2%
CK TU: 645; Wal-Mart TU FICO: 693
CS EX: 719
7 CCs, 11 total accounts.
Negs on report: 1 30 day late aged 2 years