How much do my personal finances affect my chances for a loan?
I`m in the market for a new car. I saw a Toyota Yaris: small, fuel efficient, and only 13k MSRP. Ordinarily, I`d jump into the purchase head first. A friend of mine is the salesman there, and I can get a deal. However, these aren`t ordinary times. As you all know, I`m looking to get a loan for my upcoming cafe. The cafe will ideally be funded on a business startup loan. The car would require a personal loan. My question is, will having an outstanding 12-13k loan kill my chances for a 100k business loan? My credit is excellent - 726 last I checked. I don`t want to shoot myself in the foot over a new car. Any advice would be appreciated.
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