Should I Buy A Car in Cash or Finance it?
Friday, October 5th, 2007Sometimes car dealers would offer huge discounts on outright cash payments – as much as 20% off especially during their lean season promotions – or offer attractive incentives such as free registration, extended warranty on parts and labor or accessories for the car. If you can afford to pay in cash, it always helps not to have the additional worry of paying as much as 12% in APR or interest rate per year for the next 5 years or so. However, the loan could also be a positive mark on your credit standing – especially if you are prompt in your payments or if you are trying to build a good credit rating.
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