Quick Answer: Is It Better To Buy A Car With Cash Or Finance?

Quick Answer: Is It Better To Buy A Car With Cash Or Finance?

The common thinking is that buying a car with cash is better than financing because you won’t have to pay interest.

While we agree that buying a car with cash is generally preferable to financing, there are many situations in which that’s not the case.

The best example is if you qualify for a favorable interest rate.

Is it better to pay cash for a car or finance it?

Most people think buying a car with cash is better than financing, simply because you don’t have to pay interest. Generally, if the interest rate you earn on your savings is lower than the after-tax cost of borrowing, paying cash is the way to go. However, you don’t have as many options when you pay with cash.
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