Deep in debt - need a new car though....?

  • Thread starter Thread starter Jim B
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Jim B

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Hi I am deep in debt and need some advice. I owe about 26000 to credit card companies and 16000 on a student loan. I also need a new car (no this is not a want, but definately a need). If I pay down my credit card debt so that I only have 11000 oustanding, do you think I could get a decent rate on a new car loan? The car I would like is something with a decent price (i.e. honda civic, toyota corolla, nissan sentra).

Does anyone know if they consider student loan debt when going to finance a car? Also, I have never missed a payment on any of my debts.

Thanks for your help!
 
They usually overlook student debt, but not that other debt. You debt to income will have to be enough to see that you can make payments.

How about getting a used one instead?
 
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