Okay we have 3 girls under the age of 4. Only one person working outside of the house. We get disability for the twins we have because they were born premature. Which adds up to 1300 a month. Husband makes 1200 a month. Combined it is 2500 a month. He has bad credit. He wants to take our tax return & pay off his remaining hospital bills then get a 5000 car so he can pay off the car in a year. We already have a van we have to pay 300 for a month. Plus 90 for insurance. So that will make our bills even more considering he will be paying 200-300 a month for his car plus insurance. He says he doesn’t want to buy a car straight up because it wouldn’t have a warranty on it. But most warrantys only last a year anyway. Even if they do they don’t cover everything. I liked his first idea of getting a 2500-3000 car paid off so he can drive it to work instead of our gas guzzling van (even though he wants to get a gaz guzzler anyway). Is there any other way he can rebuild his credit? He is paying off his hospital bills. He has bills in his name. If you add in that the 3 girls we have are still in diapers plus baby food because the twins are developmentally delayed & can’t eat solids well yet. Food for ourselves & the electricity bill (400) which has gone up this year because of the economy(was 100-200). Not to mention our rent (400) & cell phone (150). I just don’t think it’s a good idea for him to go about rebuilding his credit by this route & potentially destorying mine any further than he has. How can he rebuild his credit?
he also has a bad driving record so to add him to my insurance would cause mine to skyrocket. We tried to add him in the past. I understand you get a discount for adding double cars but he isn’t on my insurance. He would have to get his own car insurance.