I want to purchase a car..but I recently bought a home in Feb. I have a score of 650.?

Question

I bought a new car in 05 and I dont think it makes sense to buy another brand new car bec, although the interest rate was good I feel like I paid way more than the car is worth. What should I do? I'm paying 340/mo on a Hyundai Elantra

Answer 1

Well, if you bought the car in 05, then you should only have about 2 years of payments left on the car.  You should definitely keep the car unless you need something larger as the Elantra is very reliable and great on gas too.  $340 a month isn't bad if you put no money down on a 5 year loan.  If you have the money you can start doubling your payments or just pay some extra so you get the car paid off faster and with less interest.  No, buying another new car makes zero sense, why would you need/want to?