Wednesday, June 23, 2010

Open Question: I have $42K in student loans-will this effect my abilty to buy a car?

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Right now, I am a student. I poverty to purchase a automobile that costs most $400/mo. I work full time with school, so I crapper currently give the payment. When I intend discover of edifice in most 10 mos, I organisation to give the automobile to my miss and let her adopt the payments and add her study with me to the give ( It's 100% secured for the payments to be paid, she meet has no credit-not bad, meet none). I am effort a degree in education, so forward my play salary is low, say, $25-$28K yr. and I also module be paying lease of most $700/mo. My discourse is if considering every payments on the automobile we're purchase are paying on time-do you conceive I'd hit some issues effort added give for me a automobile of also most $15-$20K? My worry is debt to income ratio. Does anyone old in give finance hit some advice? Thanks! Additional info: Credit reason is over 750 currently. Student loans are delayed until next assemblage when I graduate.
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