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Car Loan vs. Paying Cash

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Date: 09/07/2006 Topics: Budget & Finance > Auto Buying | Readers Request > Auto  
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Are you better off taking out a loan for a new car or paying cash?

Bob from Wheeling, IL
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By johnp (Guest Post)
This very question as asked by me to my financial planner who responded that it is always better to obtain a loan and invesst your money for a greater return on your dollars inasmuch as the vehicle is a depreciating asset and the interest paid, with normal car loans, is not deductible. Good luck.

Posted on 09/09/2006 | Report Spam or Abuse

By jean (Guest Post)
If you have the money to pay cash for the car, do it.
If you take out a loan, the interest will add to the total cost of the car. Unless you get 0% interest, pay cash. I have done both, and cash is better.

Posted on 09/08/2006 | Report Spam or Abuse

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