Buying car in cash vs house downpayment
My wife and I are looking at buying a house within the next 12-18 months.
We currently have one car (hers), which is 13 years old now, and will most likely need to be replaced before we buy the house. I don't have a car right now, but may need one soon for work, and will definitely need one once we move into a house since it won't be near good public transit.
I was always planning on buying the cars in cash to save money, but I'm wondering if it would be better to finance the car(s), as long as the finance rate is below that of the mortgage, and put whatever extra cash we have into the house to reduce the size of the mortgage.
We're on track to be able to afford a 20%+ downpayment on the house, regardless of the decision.