Im trying to finance a second car
2006-12-26 12:46:23 · 7 answers · asked by txrida88 1 in Cars & Transportation ➔ Buying & Selling
As long as your debit ratio isn't too high it shouldn't be a problem. When looking into financing someone a bank will take their income and then all of their "debt" (any loans etc) and form a ratio with the numbers. As long as they think you can afford another payment they will finance you.
2006-12-26 12:50:11 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Since neither loan has interest that is tax deductible, pay off the higher one first. Look at it this way, you are paying 50% more interest at 9% than at 6.7%. A word of advise, don't ever buy a new car (it sounds like you did). Buy a used car, and get one that you can get a loan on. The loans are higher interest, but at a much lower amount.
2016-05-23 09:12:59 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If your debt to income ratio is OK, most banks will do it.
That means your total of payments each month in relation to your income.
Many people have 2-3 car loans, boat, RV, snowmobile, credit card, etc loans all at the same time.
2006-12-26 12:55:13 · answer #3 · answered by Anonymous · 0⤊ 0⤋
That depends upon your creditworthiness. Plenty of folks have more than one car loan -- my brother has 3.
2006-12-26 13:10:28 · answer #4 · answered by Bostonian In MO 7 · 1⤊ 0⤋
That would depend on your income, and also if you made your payments on your first car regularly on time.
2006-12-26 12:58:45 · answer #5 · answered by cajunrescuemedic 6 · 0⤊ 0⤋
if u have a good enough credit score, u'll be able to get that 2nd car.
2006-12-26 13:26:04 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Depends on your credit, and income.
2006-12-26 12:48:45 · answer #7 · answered by Silverstang 7 · 0⤊ 0⤋