I am considering buying a car, but would like some opinions. I have a 2003 Pontiac -based on Kelly's Blue Book it's worth around $5,500. I owe $7,500.00 on my current vehicle.
I would like lower monthly payments & w/a down payment can probably achieve this and have a new car.
BUT, is it better to pay off my current loan OR buy a new car w/lower interest and lower monthly payments?
Also, I'm going to finance my vehicle w/the same company my current loan is with. Do you think they'll give me a better interest rate since my credit w/them is good? (Only 1; 30-day late payment since my loan originated in 2004.
I would like lower monthly payments & w/a down payment can probably achieve this and have a new car.
BUT, is it better to pay off my current loan OR buy a new car w/lower interest and lower monthly payments?
Also, I'm going to finance my vehicle w/the same company my current loan is with. Do you think they'll give me a better interest rate since my credit w/them is good? (Only 1; 30-day late payment since my loan originated in 2004.