Juanita is saving up to buy a new truck. She wants to put $4000 down and borrow the rest. That down payment will lower the monthly payment so she can easily afford a new truck. She has been saving for 18 months and has half the money. It will take her about the same amount of time to save up the other half. Is this a good use of credit?
It depends on Juanita's financial situation and priorities. If she has a stable income and can afford the monthly payments without straining her budget, then borrowing the rest of the money for the new truck may be a good use of credit. However, if borrowing the money would put her in a financially precarious situation or if she has other more pressing financial goals, it may not be the best use of credit. It's important for Juanita to carefully consider her own financial situation and priorities before making a decision.
