Buy another car or refinance first?

SneakiemeSneakieme Member Posts: 1
edited November 2018 in General
I bought my daughter a new 2015 Honda Civic for college because she needed a new car. I’m driving a 21 yr old car and need a new vehicle for myself. I think I can save around $150 a month on my Honda if I refinance. I need my new car payment to be around $200. Haven’t decided what to buy yet but there’s lot to choose from in my price range. I’m not picky. But, DO I REFINANCE MY HONDA FIRST OR AFTER I BUY OR AT THE SAME TIME AT THE DEALERSHIP? Advice please. What should I be wary of?
my credit score is around 680-700. 

Answers

  • kyfdxkyfdx Moderator Posts: 210,272
    Sneakieme said:

    I bought my daughter a new 2015 Honda Civic for college because she needed a new car. I’m driving a 21 yr old car and need a new vehicle for myself. I think I can save around $150 a month on my Honda if I refinance. I need my new car payment to be around $200. Haven’t decided what to buy yet but there’s lot to choose from in my price range. I’m not picky.
    But,
    DO I REFINANCE MY HONDA FIRST OR AFTER I BUY OR AT THE SAME TIME AT THE DEALERSHIP?
    Advice please. What should I be wary of?
    my credit score is around 680-700. 

    You don't need a car dealership to re-finance the Honda. You can do that with your bank. No need to combine these two unrelated items.

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  • texasestexases Member Posts: 10,139
    I agree, keep them separate, otherwise the dealer will use the deal's complexity to get some additional money out of you.
  • thebeanthebean Parts UnknownMember Posts: 1,176
    ^^^ This. Keep the deals separate and as simple as possible.
    2015 Honda Accord EX, 2019 Honda HR-V EX
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