So I’m about to begin the method of shopping for a house. The whole lot is coming collectively for that up to now. I’ve loads saved up for a down cost, credit score rating is 770 in order that gained’t be a difficulty and I solely have about $5k in pupil mortgage debt which is the one debt I’ve.
The difficulty is, my ‘04 Honda Civic is on its final legs. Has so many points that the mechanic advised me I shouldn’t put any extra into it and simply drive it until it dies. Effectively…. It’s coming fairly shut typically it simply shuts off at crimson lights. It struggles shifting gears, AC doesn’t work anymore and plenty of extra issues.
So my query is, I do know it’s not good to get any kind of loans and particularly a automobile mortgage earlier than shopping for a house however what ought to my subsequent plan of action be? I can afford to purchase a more recent automobile proper now simply but when it diminishes my pre approval quantity it wouldn’t make sense to try this.
My lease ends in February so I plan to discover a home earlier than then. However what might be achieved for the time being. I used to be considering of perhaps shopping for a $1k automobile to final me until then however was seeing if there have been some other strategies.