Thank you for your responses.
Here are some Additional Info:
The vehicle is actually a crossover with cargo room and high mpg. I did the math with regards to the 5 year cost-to-own and the govt incentive for new car buyers for 2009(car's sales tax are returned at refund), it is more cost-effective. Moreover, the 5 star safety feature is very important to us because nothing compares to being alive and less-worry when travelling.
3.99% up to 48 months autoloan is the lowest I have seen among local credit union/bank. If you know a better rate pls do post...
Buying a house will be several years from now. But preparing for it...
Follow-up Question:
1. Is 50% downpayment the perfect balance of max fico score and least interest yield for banks? Or the greater downpayment, the better?
2. Would 1 year loan term be a good enough credit "history" for FICO score?
3. How does 1 year loan term compare to longer loan term (2,3,4 years) in terms of fico score?
4. If I understand it correctly, debt/loan free for at least one year from next inquiry for credit(Mortgage) is the best.
Does having longer debt/loan free period better?
Thanks you for your input.