Hello everyone,
Looking for some advice regarding what to concentrate on as I prepare to finance a vehicle. I would like better my situation in hopes for the best financing deal. Currently looking at targeting NFCU for an auto loan but I’m sure this applies to any creditor.
With regards to what type of debt to pay down first, should i focus on credit cards or some unsecured loans I currently have? I know DTI and score will play a factor and obviously should my CC balances drop my score will improve. But should I focus more on the score aspect by paying down cards first or should I focus on DTI by paying down loans?
To shed some light I probably won’t be able to pay loans in full prior to target date of car purchase but I could potentially make a decent dent in CC balances. To give a light as to my current credit situation I have no derogatory information at all, currently at 66% utilization and 37% DTI will all current monthly payment.
Thanks everyone!
