I currently pay 420$ a month for my car with a 7.5 interest rate. My insurance is 220$ because it is a “sports hatchback” and because I have a dui on my record that actually falls of this August. My lady and I recently discovered that we are expecting a child!!(yes I’m excited)
Well I want to reduce the costs around me so my first thought was trading in my car for a car that is more economical and isn’t a sports car so my insurance isnt crazy. I would like to see my payment go to 200-250 a month and my insurance be around 150 at the most.
Should I just try to refinance my car or should I start looking for a car that doesn’t cost more than my current one. I know with taxes and everything I’m going to take an initial hit on the car but in the long run will it save me money?
Currently I owe 16k on my car(2014 Ford Focus st) it only has 24k miles on it.
Submitted March 23, 2018 at 03:57AM by scuffler916 http://ift.tt/2pDyF9V
