Are you better off taking out a loan for a new car or paying cash?
Bob from Wheeling, IL
If you have the money to pay cash for the car, do it.
This very question as asked by me to my financial planner who responded that it is always better to obtain a loan and invest 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. (09/09/2006)
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