Share post
Share
Debt Consolidation Forums Budgeting and Personal Finance forums

Is it wise to buy a car with loan or to do it with cash?

Date: Thu, 11/02/2017 22:20
member profile picture
Posts: 1
Credits: 23.25
[Donate]

Is it wise to buy a car with loan or to do it with cash?




The best option is to buy a car with cash. The value of a car depreciates with time. There is no bravery in paying interest on a loan when the value of car decreases.

Sub: #1 posted on Fri, 11/03/2017 - 00:34

ditchdebt ditchdebt

(Posts: 669 | Credits: 254.25)

I would suggest you to buy car with cash if possible. Paying interest can drain your savings. Moreover, auto loans are not tax deductible. You can also qualify for discounts if you pay in cash.

Sub: #2 posted on Sun, 11/05/2017 - 23:18

SC SC
Moderators
(Posts: 3937 | Credits: 398.71)

cash would be the best options. You might feel that it'll drain your liquid cash, but eventually buying through cash will save a lot from your wallet. You can also qualify for discounts if you pay in cash.

Sub: #3 posted on Mon, 11/06/2017 - 04:21

Barbara Delinsky Barbara Delinsky

(Posts: 331 | Credits: 33.32)

It's obviously better to buy a car outright with cash! Actually car loans are secured loans. So, if you default on your payments, your car might be taken away for good!

Sub: #4 posted on Thu, 11/09/2017 - 05:25

Phil Bradford Phil Bradford

(Posts: 166 | Credits: 16.94)

Attachment
More information
  • Files must be less than 500 MB.
  • Allowed file types: txt pdf jpg jpeg png.


DebtConsolidationCare (IAPDA member)
Inter Next Technologies, Inc., Internet Marketing Services, Reno, NV
Connect With Us
About Us | Contact Us | Privacy Policy
Copyright © 2018 DebtConsolidationCare | 301 W. 11th Street Unit E, Reno, NV, 89503, United States
* Disclosures:
  1. By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  2. Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
  3. Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  4. Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  5. The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Page loaded in 1.354 seconds.