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Should we buy now or then?

My boyfriend and I are buying a minivan together. (we are expecting our 4th)
We are getting married AND the baby will be coming this June so we won't need the car until then.
My credit is in the low 500s and his is in the high 600s and we have $2000 saved as a down payment. Would it be best to buy the car as a couple, maybe 1 cosigning for another or wait until we are married?

 
Anonymous

Asked by Anonymous at 7:04 PM on Apr. 3, 2010 in Money & Work

This question is closed.
Answers (4)
  • Are there any special promotions going on by the manufacturer of the vehicle you are looking to buy from? Sometimes you can secure a 0% or low interest shorter term loan (usually less than 3 years) which would be cheaper than stretching payments out with regular interest charges over 5 or 6 years. You should sit down and do the math!

    And if you;re not 100% sure of the brand of vehicle you want, you might want to take a few minutes to research different mini vans and see if you can get MORE for your money! ALSO, by June many dealers will be looking to unload current year vehicles--so you may be able to get a better negotiated deal--especially in this economy!

    I think I would wait until June--unless a really good promotion comes up!
    LoriKeet

    Answer by LoriKeet at 7:29 PM on Apr. 3, 2010

  • If your in a stable relationship then have one cosign. Use the one with BEST credit out of the 2 of you, and then have the other cosign.
    Hezekiahs_mom

    Answer by Hezekiahs_mom at 7:07 PM on Apr. 3, 2010

  • You should only buy as much car as you can afford; taking on a financial burden sounds like a really bad idea.
    rkoloms

    Answer by rkoloms at 8:43 PM on Apr. 3, 2010

  • No buying joint assets with both of you on the loan until you're married. Wait until then.
    halfpint_ny

    Answer by halfpint_ny at 10:53 PM on Apr. 3, 2010

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