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Posted in Auto Loans
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x3DaD

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What is the suggested wait period after paying off an auto loan, to finance another auto?
My wife & I leased a Sonata back in 2013 for 36mo. So the balloon will be up in 4 months. When we got it we only had one child, and now we have 3 all in carseats! It is a very tight fit, so we need another vehicle soon. How long after paying off the lease should we wait to finance another vehicle? We had planned to wait till tax season 2017 so we could use the return as a down payment, but my wife is getting antsy as the Sonata is our only vehicle and I used it everyday as a commuter and she is stuck at home with no vehicle and 3 kids.

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