I am trying to make this very crucial desicion and I do not know which is best due to the fact that I am a first car buyer , so please any help will be well appreciated ?
2006-06-18 13:46:44 · 10 answers · asked by Luna23 2 in Cars & Transportation ➔ Other - Cars & Transportation
I think to build your credit rating it is best to finance...if you have the means to pay it off over the long term....such as having a job....but some would say it's best to just pay it off and be done, but me personally, i would finance
2006-06-18 13:51:00 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Live within your means. Buy the used car cash as payments are affordable for you at first but the final cost of the car goes up the longer period of time you accept to finance the car. Be sure you can take the vehicle to a trusted auto mechanic to get it inspected and check the website Kelly bluebook http://www.kbb.com/ based upon the vin number for the vehicle history. Any prior damage claims or total loss titles will appear. Always go with another person for their opinion and support. Preferably not two females as used car salesman are chauvanists and prey on naive first time buyers. Good luck
2006-06-18 14:01:48 · answer #2 · answered by Kamikazeâ?ºKid 5 · 0⤊ 0⤋
It's better to get the used car paid in full. You'll save on insurance on top of cost in general.
When you are still making payments on a vehicle, insurance is higher. It will already be high enough when you own a vehicle in full. Plus it's better for your credit to have a car fully paid for than having to make payments.
A new car would only be if you really want it. If you're just looking for something cost-effective that will get you from point a-point b, go with used. Just make sure it can run on the gas that has the ethanol, but I don't think that will be a huge problem.
2006-06-18 13:54:44 · answer #3 · answered by memberofdisfunctionalsociety 4 · 0⤊ 0⤋
CASH. over time you could pay for the car almost twice depending on how your payments and interest rate are. and i agree with a previous answer, you're done with money for the car except repairs etc. I'm in the same boat (minus first time buyer) I want a new (new to me) truck. do i get a nice one and make payments or get a little older one and be done with cash. i'm going with cash, because wit all the other bills i have to keep up with monthly it's nice to know the truck is done with.
2006-06-18 14:23:11 · answer #4 · answered by kf30 2 · 0⤊ 0⤋
Cash if you have it, and I recommend it with your first car.
If you finance you have to deal with getting a loan and probably having your parents co-sign, plus you have to pay interest and all of that crap. Also you need to have full coverage insurance, if you finance, which is a lot more then liability with paying cash for the car.
2006-06-18 13:51:51 · answer #5 · answered by aj58078 4 · 1⤊ 0⤋
I will buy used car with cash, never finance the payment
2006-06-18 13:52:27 · answer #6 · answered by tsaoa2000 2 · 0⤊ 0⤋
Cash with a Bill of Sale. Then YOU arent out ANY $$$ (for finance charges).
2006-06-19 01:15:44 · answer #7 · answered by Sherree H 1 · 0⤊ 0⤋
Everything depends on how much the car is that you're buying and also are you trying to build credit. if you buy it out rite then you no longer have payments except for maintenance. there are so many different variables in what you may want to do.....
2006-06-18 13:54:26 · answer #8 · answered by Pizzaguy913 3 · 0⤊ 0⤋
Buy A used car, under 100,000 miles, check the isurance cost and miles/ gal.
http://www.carbuyingtips.com/used.htm
2006-06-18 14:07:32 · answer #9 · answered by Anonymous · 0⤊ 0⤋
cash, cars depreciate in value and the interest will negate any good deal
2006-06-18 14:15:43 · answer #10 · answered by Library Eyes 6 · 0⤊ 0⤋