Quote:
Originally Posted by MoneyGuy
I've seen much bigger mistakes than that. If you need a car and can't buy it outright, what else are you going to do?
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If you can afford a few months of car payments, then you can afford a used car to get by on. I have never bought a new car and don't feel it's ever held me back. Especially if you live in any town or city, transit can get you by for a few months.
Having just gone through the mortgage process, the broker mentioned to me how car payment defaults are the biggest reasons why people ruin their credit and can't qualify for mortgages.