It is typically recommended to wait several months to a year before buying a car after closing on a house. Getting pre-approved for the mortgage will reveal your debt-to-income (DTI) ratio. This ratio is a major factor in determining your purchasing power. Adding another loan shortly after buying a house could impact your DTI ratio.
Waiting to buy a car gives you time to pay down existing debt, build up savings, and improve your credit score. Having a longer credit history and lower DTI ratio can make it easier to get approved for a car loan and potentially secure a lower interest rate.
