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Thank you for your advice. The new vehicle was going to increase in loan amount, but with a 6yr loan my payments would have dropped by close to $70 a month, plus insurance decreasing $75 and an...

Thank you both very much for your answers... you may have saved me on making a potential big mistake, I don't think I will risk it just to get my payments down and save on gas costs... I can wait.

If my debt to pay ratio doesn't change or my payment amount goes down, will that matter?

I am a couple of weeks away from closing on our new house, will new credit (auto loan) affect the closing?