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What do you suggest? would you return the car and stay with a 16k loan without owning a car?
is a Honda Pilot and Infinity 2010. The reason why Im paying too much is because at the time of buying the car I traded my old car and my credit score was not that good. My interest rate now is 9.7, I'm planning to refinance to 4.0 and will bring the car payment down to $850.00 but still too much =/
Definitely refinance ASAP. That is an awful rate for an auto loan.
Passaic county is good to live and cheaper. I don’t know anything about the quality of special ed services though. Ringwood, Bloomingdale, Butler, Pompton Lakes, etc. don’t go too far as you are pushing it on a commute to White Plains
Definitely refinance ASAP. That is an awful rate for an auto loan.
Passaic county is good to live and cheaper. I don’t know anything about the quality of special ed services though. Ringwood, Bloomingdale, Butler, Pompton Lakes, etc. don’t go too far as you are pushing it on a commute to White Plains
Passaic County has horrendous property taxes. The only town with good public schools in that county is Wayne. If not Wayne, any other town in Passaic County would be a hard pass for me.
I have about the same income level. We own two cars. Only one has a loan on it at $400 a month. Very little debt outside of that and I still find it would be challenging for us to buy a home in the 350-400k range.
Our HHI is almost twice that amount and both of the cars are paid off. I refuse to buy a house over 450K because I want a decent quality of life and would feel house poor with anything higher. IDK how people in this state do it....
$1500 in car payments on a $100k salary? I don't think you will even qualify for a mortgage.
With a $300-350k mortgage you'll be looking at ~$2k per month inc. tax and ins so $3500 gone right out of the gate. I'm guessing take-home pay is about $4k so you don't have much to live on after house and car payments.
I have lived in Wayne (Passaic County) for 30 years. It's a very large town with lots of amenities. You have to be careful where you live if you are commuting on 287, as Rt. 23 gets jammed up. There are lots of different ways to get to Rt. 287 without going on Rt. 23. Our schools are fantastic and my three children have had lots of support from their teachers. I cannot speak as to the special education program, but I have heard both positive and negative. I would suggest contacting the special education department in the board of education in the towns that you are interested in and speaking with them directly.
Update: Auto Loan APR went from 9.7 to 2.7 ..Payment will be $760 instead of $1000. Thats not much of a dif yet but is something.
Thanks Toski for the information, we are def considering Wayne.
That's a significant difference.
Hey and just a heads up coming from someone who recently began the home search again at the same price point as you: it's very competitive out there. I'm talking about regular, working class towns with only average schools. Multiple offers above asking price being submitted within days of listing.
We are looking at housed in Ringwood, NJ. Considering to put an offer. The house is in the 300k and we are offering 40k more. Only problem is that is septic. Any thoughts?
We are looking at housed in Ringwood, NJ. Considering to put an offer. The house is in the 300k and we are offering 40k more. Only problem is that is septic. Any thoughts?
$40k over asking thats quite a bit over asking, or is the market that crazy?
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thats quite a bit over asking, or is the market that crazy?
