Should I buy a house or car first?

I have finally got my finances in order and owe absolutely ZERO debt to anyone or anything (yay!). With that being said, is it easier to qualify for a house and then try and qualify for a car, or should I get a new car and try and qualify for house afterwards?

13 Answers

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  • 6 months ago

    You need a car to get to your job. You need a job to be able to afford a house. Get the car.

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  • 6 months ago

    Andre L who answered this gets best answer

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  • 6 months ago

    Get the house first. Then buy a good "used" car. Unless you have money to burn - then a new car would be fine. Car loans are easier to qualify for than house loans.

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  • audrey
    Lv 7
    6 months ago

    If this is your first big purchase, you will qualify for a car a lot faster than for a house. Start with the car.

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  • 6 months ago

    Where are you living now? What does that cost? How much money do you have in the bank ?? What is your credit score? Do you need a car to commute to work ?? I daresay you will be getting the car first while you work a few years to get the down payment (and other expenses covered) so that you can buy a house. I say buy a good NEW car {Corolla, Subaru, some Kias, some Nissans, Honda - but they are pricier} with warrantees and guarantees (meaning no parts or repairs for several years; you also get the latest safety equipment and features) and a low interest rate and then maintain it and drive it forever. {This way you are not replacing the car just as you are starting to make house payments.}

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  • 6 months ago

    a house first of course, what a dumb question. and it is easier to qualify for a car as it is much cheaper than a house. well, unless u want a bentley or a rolls Royce

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  • Judy
    Lv 7
    6 months ago

    easier to qualify for a car

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  • 6 months ago

    Rule of thumb:

    - A car is not an investment, it's an expense. Never purchase a car on a "payment plan", always purchase a car that you can afford to buy with the money you have.

    Typically: you should purchase the type of vehicle that is most useful to you, the most reliable make and model that you can afford. If you are on a payment plan, when you are done the car is worth much less than you put into it. If you pay for it up front, at least the car is worth what you paid for it when you paid for it.

    House - is an investment. When you purchase a house you basically replace your rent with a mortgage payment...except that you continually accrue equity (value of the house owned by you) as you make payments. IF you do not need a vehicle (if you can function well without), then certainly a house is the better choice. A house in general is about the best investment a person can make. Be aware of the expenses associated with buying a house. Maintenance (upkeep of the house and the yard). Property taxes. Increased utility bills in comparison to apartment living. The need for appliances that are typically included in an apartment but not in a house. etc.

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  • Anonymous
    6 months ago

    Cant drive your house to work.

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  • 6 months ago

    Houses tend to gain in value.

    Cars are guaranteed to lose value.

    That should make your choice clear.

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