Car Loan or Full Payment in Cash, what to choose?
while buying car, check both the options, car loan and cash, which would be beneficial you chose that option.
If one has money in the bank account, it would provide you 12% interest and presently the car loan is available at 7 to 9%, then it is better to opt for a loan and earn the money on the capital.
If you are looking to buy a new car? You may be confused as to whether to opt for car loan or make payment in cash.
If one has money in the bank account, it would provide you 12% interest and presently the car loan is available at 7 to 9%, then it is better to opt for a loan and earn the money on the capital.
One must go to the dealer first, ask them for varied financing options, sometimes the buyer receives a discount on paying all the money upfront. If the discount is good enough, then one must opt for paying the money upfront, else take a loan.
You can also refer this video, to know taking loan is not a smart option.
Buying a car? Why taking loan is not a smart option