lucylefler
New member
I'll be quick:
I really need to buy a new (used) car and here are my finances as of now:
TOTAL 'cash' to my name [aka money I actually have] = $2600
after this semester, Total DEBT = $2500
How do I go about this process:
Do I:
1) pay all my debt and take out a loan for (no more than) $9,000 to get a car and then only have that to pay back?
2) Get a loan for (no more than) 9K. Use the 9K to pay debt, the rest for a car, and my cash as a down payment [if needed...if i buy from dealer...]
3) Same as #2 EXCEPT keep my cash as back-up emergency money.
I'm 21. make $10/hr work 20-35 hrs/week and have last time I checked my credit score it was 827.
Any ideas, suggestions, links, anything will be a HUGE help, as I am doing all this on my own
***also: my only payments every month are:
-cell/house phone (60, tops)
-gas (100/month...TOPS)
-any groceries i need
-[forementioned credit card payments]
parents pay car insurance, etc.
again, anything helps.
THank You!
I really need to buy a new (used) car and here are my finances as of now:
TOTAL 'cash' to my name [aka money I actually have] = $2600
after this semester, Total DEBT = $2500
How do I go about this process:
Do I:
1) pay all my debt and take out a loan for (no more than) $9,000 to get a car and then only have that to pay back?
2) Get a loan for (no more than) 9K. Use the 9K to pay debt, the rest for a car, and my cash as a down payment [if needed...if i buy from dealer...]
3) Same as #2 EXCEPT keep my cash as back-up emergency money.
I'm 21. make $10/hr work 20-35 hrs/week and have last time I checked my credit score it was 827.
Any ideas, suggestions, links, anything will be a HUGE help, as I am doing all this on my own
***also: my only payments every month are:
-cell/house phone (60, tops)
-gas (100/month...TOPS)
-any groceries i need
-[forementioned credit card payments]
parents pay car insurance, etc.
again, anything helps.
THank You!