re: Bad credit auto loan, big down payment

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What will depreciate faster, 15k truck or 50k truck? In two years, a 15k truck will be worth 10, and 50k truck will be worth 35k.

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That doesn't really matter if he's going to buy the $50k truck regardless.

quote:

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Coupled with the 3k he would save on 7% interest next two years! he'd be much wiser waiting two years building up credit score! holding out for 0.9 - 1.9% deal and saving over the long run, having more options than he does now.

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Math disagrees with you, but OK.