Poupar para grandes adiantamentos ou pagar as dívidas?

Quando você está planejando uma grande compra, você tem alguns problemas financeiros a considerar. Uma dessas questões urgentes é o que fazer com o dinheiro que você economizou?

You are ready to buy a home or a car. You’ve been saving money for a down payment and have a hefty amount in your savings account. But your credit score isn’t all that great. You have two options for using the money: you can either take your chances on getting a loan approval and make a great down payment or make payments on your debts to boost your credit score and help you get a better loan.

This not an uncommon problem to be in but unfortunately, there isn’t a clear cut answer for every situation.

Paying Debts

If you use the some of the money you’ve saved to pay off debts it will definitely reflect positively on your credit score but it all depends on the details and timeframe. If you have a really poor score working to build that up may be the only way you will even get loan approval so putting your money towards your debts while working with a professional is the best choice. But if your score is not great but not terrible you may get more out of the money by working with a professional to make strategic payments to sure up your score while retailing as much for a down payment as you can.

In either of these scenarios time is crucial. You need adequate time to make these improvements so if you are looking to move on a loan in the next few months it might not have much of an affect on your score.

Building Up A Big Down Payment

Putting down a good chunk of cash when buying a home or a car is always a great way to reduce the amount loaned to you, loan payments or loan length. If you have a lot in the bank saved specifically for a large purchase and have been showing responsible financial habits for at least the last year you might be okay to use it all for the down payment. Your best bet is to meet with a professional who can assess what kind of interest you will be looking at and the payments you will be making after the down payment. In most cases if you credit is average the down payment would be more worthwhile.

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