| Auto loan or pay in cash? |
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Ashley Watson
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Location: USA
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| Re: Auto loan or pay in cash? |
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Auto loan will be good option if you do not have available money other wise you should pay cash.
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Tue Aug 31, 2010 2:32 pm |
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jason_simpson
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Location: London
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Paying in cash eliminates the costs of interest and finance fees. When you purchase a car with cash, you can do whatever you like with it for as long as you'd like — something that'll make lessees envious.
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Sat Sep 04, 2010 9:15 am |
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moonraker1
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Auto Loan is good option but charge you high rate of interest. You can choose even Personal finance with attractive rates and pay in cash with minimum obligations.
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Tue Sep 07, 2010 9:35 am |
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davidansler45
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I would suggest you to avail auto loans according to your budget and at affordable interest rate, as it will not only reduce your burden of facing lots of hassles but also you can repay the loan amount and meanwhile use the car.
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Tue Oct 05, 2010 8:02 pm |
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MrNewEngland
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Honestly, rates are so freakin' low right now you might be better off getting the loan. Keep yourself to your original price range though, don't start creeping bigger just b/c of the loan. That way you can take the money you have & either invest it or keep it as an emergency fund. I don't think enough can be said for having a decent emergency fund around. I never used to but finall do & it's surprising the peace of mind I get out of it.
Just my $0.02.
Craig Finn is brilliant.
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Tue Oct 05, 2010 8:19 pm |
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archercredit
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Wow, do people even read your post before posting, so many people said you have a good credit score, which you said your wife does, but you don't. I would get the loan if you can get a low enough interest rate to help build your credit score.
There are several types of credit that help build your credit score and a auto loan is one of them along with credit cards, mortgage, and other loans. Put down a decent down payment and get a low rate, then pay it off over time to build a nice big credit score.
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Wed Oct 06, 2010 4:16 am |
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jason_simpson
Preferred Member
Cash: $ 28.45
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Joined: 20 Apr 2010
Location: London
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Paying in cash eliminates the costs of interest and finance fees. When you purchase a car with cash, you can do whatever you like with it for as long as you'd like — something that'll make lessees envious.
Payday Advances | Pay Day | PaydayLoans
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Wed Oct 06, 2010 7:25 am |
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Crazyfinances
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Location: United States of America
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| Take a loan |
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I would also suggest that you take loan to buy the car. Digging into your savings and spending it all in one go, is never a good idea. I mean, you can get a loan for a car, but won't be getting one if you get into a financial mess (after spending your savings) and need money for gas.
Budget Planner| Finance & Your Life
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Tue Nov 23, 2010 8:04 pm |
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jennypaul
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You are saying right. Auto loans are best for this situation, borrower should not crack his savings, even he should take a auto loan and he can repay that loan in installments.
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Mon Jun 20, 2011 12:09 pm |
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