planning for a car cash or finance
TRANSCRIPT
WHETHER TO GO FOR CASH OR FINANCE ?
Planning for a Car :
OR
How to save while buying a car ??
Get some idea of the kind of the car you want.
Figure out the cost of the car..
$
Next is to Shop for the car..
Find the best interest rates..
Then Start saving for your car.. HOW ??
Establish clear goals
and parameter
s
Devote a fix amount to your car fund
Make your saving automatic
Reward yourself for
good habit
Compress your needs
Find alternatives in the mean time
Buying a car with cash
Benefits:
You only need to pay a lump sum payment.No worries for interest rates.You can incur more money.You will have a true value of your car.You will get a more negotiating power.
Downsides:
Everyone can not afford to buy in cash.You will loose opportunity of earning any potential returns.You have to wait until you save the required cash.You may loose opportunities that can make you earn extra money.
Buying a car with Loan
Benefits:
You can buy more expensive cars.No worries about any cash payment.You can use your savings in other profitable enterprise or any other purpose.You can utilize your money to get returns and that can cover the interest rates.
Downsides:
Monthly paymentsYou can’t own the car until you finish all the monthly payments.If You will skip any monthly payment, the lender can take the car back from you. You have to wait to sell a car until you pay off the loan.
Tips to consider when buying a car..
Exchanging your old car
Buying from a trader
Buying from an auction
What fuel ?
First looks
Check oil and water
Test drive
Check all the documents
Making the offer
Thank you
Resource: http://www.performancepluscars.com/asianimports.html