Mee Blumenfeld: "Re" consolidate debt. "Like" to have 2 new cars. This doesn't sound like good choices.Take a look at your credit - you can get your credit reports from all 3 bureaus once a year at AnnualCreditReport.com. Each bureau will charge a fee for the score, but the report is free. Lenders typically don't even look at your score; they look at your report plus income, time at current job, etc. but the score is a way for you to get an idea of your likelihood of being approved and what kind of loan terms you might be offered. Typically your credit score takes a dip for ~6 months after you apply for credit. 3 new loans in a short period of time is unlikely unless your other factors are excellent. Generally, personal loans (unsecured) carry a higher interest rate than a car loan (secured) because at the very least the car lender can repossess the car if you don't make payments to recoup some of their money back.I would put the new cars on hold for a while, make ! a budget, pay down your current debts and then save toward down payments on the cars. Mint.com is a free budgeting website that links to your online accounts and takes some of the work out of managing your personal finances....Show more
Galen Gowers: 1
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