So I'm currently sitting on a Citibank CC from 12 months ago that had $5k transferred to it (18 months 0%), and another $2k I needed to use for a deposit on a new apartment (long story). The $2k's special promotion just ran out and I'm looking at around 30% interest kicking in this month (about $60 per month). In addition to this, I have a few other credit cards I'm paying off and were considering lumping them all onto a new balance transfer card with Bank of America for another 18 months 0% interest.
UNFORTUNATELY, my wife got in an accident this week and totalled her vehicle that only had 10 months of payments left. So now I'm looking at a soon to be new loan of around $12k after we get insurance payout and use it for a down payment (hoping to get maybe $5k after loan is paid off.
My question is, which of these should I do first or is there a better alternative? I've considered getting my wife to take the loan, but she has very little credit history and only a part-time job. And to answer the question ahead of time, I don't think my wife will be willing to settle for a cheap-cheap vehicle. She is, for the most part, a SAH mom and needs a reliable vehicle to get our two toddlers everywhere.
Let me know what additional information could help with advice and I'll be happy to be an open book. Credit score is about 670 if that helps any.
original posted by SeniorHoneyBuns to r/personalfinance on Sat, 02 Mar 2024 14:00:29 GMT.