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If you have cash, would you get a loan to buy a new car and invest the cash or use the cash to buy the car? |
If you have cash, would you get a loan to buy a new car and invest the cash or use the cash to buy the car? Stay out of debt and pay for the car with cash if you can afford it. It depends on the amount of risk you want to take, though. If you want to take a chance and pay let's say 8% on a car loan, you better be sure you can make more than 10% on whatever investment you make. I say 10% because remember whatever you earn you have to pay taxes on. So if you need to pay 8% of $1000, which is $80, since you'll be taxed on what you earn, you actually need to earn $100 to pay that $80. So even a 10% return wouldn't be worth the risk. You'd want to be guaranteed something like 14% or more. So stay out of debt, and pay cash for the car. In the long term you'll be better off. The exception to this would be a home loan with a low interest rate, because THAT interest is deductible, and it's a lot easier to get a better return in the long term vs. what you pay in home loan interest. I'd use the cash to purchase the car, that way I wouldn't be paying extra money into interest on the loan. That really ads up! Actually I wouldn't buy a "New Car" the used car dealerships buy their cars from the auctions and are open to the public, so that's where I would go and pay cash for it. Then invest the cash into a CD, IRA something like that. 50% cash, 50% loan........always u shud have some cash in hand :) I would use the Cash to get the car. This will make your payments lower and you will be able to save what you can again after the purchase. Hello, I am Mr Cobbs James, the owner of Cobbs Loan Investment and Estate. I am a lender who gives out loans to those business and private people with low rates of 5%. I give Collateral and Non Collateral loans with a range amount of $5,000USD to $5,000,000USD. If you want a loan and you have a bad credit, no problem contact me on cobbslenders@yahoo.com for more informations about my loan and also filling the loan application form below. Your names ................................. Your country.......................... Your address .............................. Your occupation .......................... Your marital status ...................... Current Status at place of work......... Phone number........................... Monthly Income........................... Amount Needed........................... Next Of Kin.............................. Purpose of Loan.......................... Pay Back Duration..................... Await your response James Cobbs |
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