|
It might have been said already, but if you pay cash for the car, let's say you have 30k saved and pay 27500OTD.
You now have 2.5k sitting in your bank. Sure the car is paid off, but it's also not worth what you bought it for.
So now not only do you have less of a cushion if something goes wrong, you own a car that's worth less.
Basically if you finance it keeps your money liquid and able to do other things. If you have a LOT of cash saved then sure go ahead, but if you don't I would be very hesitant. Especially in the above scenario.
Credit isn't a bad thing. It just happens to be abused more than it should be. If you're smart you can use it to your advantage.
|