Okay. I want to buy a car in like about 6 to 8 months from now, but I just brought a car for like 20,000 in April 2006. It is possible if the bank will let me buy another car and does my income affect it also.
2006-09-26 10:54:32 · 5 answers · asked by stacy h 1 in Cars & Transportation ➔ Buying & Selling
If you'll be getting another loan, yes you're income and all recurring payments will be considered.
2006-09-26 10:56:56 · answer #1 · answered by Papa John 6 · 0⤊ 0⤋
Your income and your credit score will affect whether or not the bank will finance you. Also, you debt-to-income ratio, the amount of debt you have compared to what you make, plays a significant role. Make sure you pay all of your payments on time, banks look at that criteria, also.
2006-09-26 18:03:47 · answer #2 · answered by momcat 4 · 0⤊ 0⤋
well,,,are u going to sell this other car u just bought in April? If you sell it and pay off the loan that will be easier to get another loan. It all depends on how much money u make . And i agree with bender that Honda's are great cars!
2006-09-26 18:04:06 · answer #3 · answered by Twinklestar 6 · 0⤊ 0⤋
There are lots of things... for starters
1. Negative equity (how much you owe on the vehicle you purchased in April)
2. Credit rating
3. Income
2006-09-26 18:05:36 · answer #4 · answered by apinkfreak 3 · 0⤊ 0⤋
i don't know but you should get a Honda, they are the best cars, and they are reliable and affordable
2006-09-26 17:57:24 · answer #5 · answered by Anonymous · 0⤊ 0⤋