Quick history: When my wife and I were younger, we made some bad financial decisions. We both realized our errors and decided to get back on track while we were still dating. Fast forward to now, we are very recently debt free with the exception of our mortgage. We are only JUST beginning to start a rainy day fund (in other words, we don't have one). Her car has 150k miles and mine has 235k. We were planning on driving them until the wheels fell off. But we recently found out she is pregnant with twins. With our other two kids, we need a bigger car. Our cars are essentially worthless on the trade-in. We will be buying something older, but want to make sure we aren't buying a money pit. We are most likely going to need to finance it.
What is the best practice for securing financing? We have solid credit and make decent money, but not a ton by any means. I am currently thinking of going to our credit union for the loan. I'm also not really sure how this works. Do we get secured for an amount we can afford, then go shopping with that as our max amount? Is there a better way to go about it?
Submitted August 14, 2017 at 11:03AM by mortalwombat- http://ift.tt/2uCJZs5
