By: SmartA$$

SmartA$$ — Wed, 16 Sep 2009 03:00:16 +0000

You can’t ask a question and try to delete the right answer. You should pay off debt you have now before incurring more. You should pay off one car before trying to roll over car debt into another car. You should not even consider a NEW car. New cars with new car payments are one of the reasons people never get ahead. ALL new cars drop in value like a rock. Get a 2-3 year old used car that was previously leased. You will save a ton of money and never know the difference. You can probably get one still under warranty or certified.
If you really want to do something smart pay off all you debts and save up and buy a used car with cash. No car payments frees up 300-500 bucks each month for savings, investments, retirements, education, etc…. Don’t waste you future on a shiny new car.

By: Karma

Karma — Wed, 16 Sep 2009 02:38:36 +0000

Well, in my opinion you shouldn’t be making car payments at all. You should sell your car and buy a used one.
If you insist on pissing your money down the drain by making payments on a car that is going down in value, then I suggest you pay off the smallest debts first. This way you knock out the most number of debts and each time you pay off a small debt, you free up a little bit of income to pay against the next one.

Comments on: Best Way To Pay Off Debt Before Buying A New Car?

By: SmartA$$

By: Karma