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Should I buy or wait ?
Hey y’all . I’m interested in this 2017 Hyundai Elantra Limited w/ Ultimate package for 12,999 . The dealership offering me 6.9% interest for 72 months for a payment of 269 with 1,000 down. My Honda has 124k miles so I feel like it won’t be worth much but I’ll keep it for road trips something like that . Long story short . Should I go with the deal and mind you they giving me 5,000 for my civic as a trade in or wait and pay off my 6,500 loan with the civic
4 Answers
- Anonymous2 years ago
Not sure you have the credit for the loan you are talking about at 21 or under.
- Anonymous2 years ago
You should wait.
- RobertLv 72 years ago
Absolutely pay off the civic before you buy something else. If you take the 5K in trade for the Honda and apply it to your loan, you still owe $1500 on the car you're trading in and will no longer own. Stick with the Honda for now and save up. Pay off the loan before you even consider trading in cars. Also with a better credit rating you can get a lower interest rate than 6.9. Patience. Patience. Patience
- D.E.B.S.Lv 72 years ago
That depends on your total financial picture and why you feel you actually need a different car. 6.9% is very high for an auto-loan these days which indicates to me you don't have the best credit or income. If it were me, unless there was a pressing need, like presenting yourself nicer for a job where you go and see clients at or your current car is about to die, then I don't know why I'd commit to a 6 year loan. Use your current vehicle.
Put $270 in saving each month and purchase when you can put more down and have a lower rate $269 for 72 months = $19,368 total you'd be paying for this vehicle.
