Here's the deal. by the end of April I will recieve a check that could easily cover the cost of my soon to be new car. (the Jeep) It would be great to just go and pay cash and have a paid for spankin-new car with no payments to worry about. However that would not help my credit. So how much do youns think I should put down? Also, does anyone have any info on Chrysler Credit? Who do they pull from? How long should I wait till I pay the loan off? What color should I get?(Most important question of all!) Anna
I would wait and see what APR you get, and how much of a payment you could afford.. if you get a good APR, and could afford payments, I would finance a good deal of it personally, and pay down, credit cards, or put the money in a CD... etc.
I'm gonna pay all my cards off, or close to it. I don't want a high payment. I don't really want a payment at all, but I know that if I went and payed cash, GEORGE would hunt me down and kill me! Anna
Also, I forgot to mention that I will not be working for a year - going back to school, so I will not have an income coming in. Hubby will still be handing his over, though. Anna
Pay off the cards first; those interest rates are probably higher than the car APR you would get. Then put some money in an emergency fund to tide you over for the coming year you'll be in school. Whatever you have left over may not be enough to buy a brand new Jeep Liberty, but I'm sure it'll be enough to cover a 1-yr or 2-yr old liberty or some other vehicle within your means. Or get something you can afford to pay over a 2-yr period so your FICO can benefit.
