2006-08-18 12:03:31 · 4 answers · asked by harisharma650 1 in Business & Finance ➔ Personal Finance
If you have the cash, pay it that way, or least make the largest down-payment you can - a bank loan will cost alot more in interest and closing fees, nevermind how depressing it is to make house payments every month when you didn't have to.
2006-08-18 12:10:35 · answer #1 · answered by Dan 2 · 0⤊ 0⤋
It depends on the financial situation of yours.If u have sufficient money with u you can pay in cash and the property can be registered on your name straight away. If u opt for a bank loan u need to provide security to the bank and u have to pay for the interest and other service charges to the bank. If u r an employee it is far easier to get a bank loan and u can get some Income tax rebate for the first 5 years(Indian scenario).U can pay the loan in EMIs U can choose a fixed rate of interest or a floating rate of interest for various periods ranging from 5 to 15 years or even 20 years.Mostly many people go for a bank loan and use the cash for other investments.
2006-08-18 12:24:12 · answer #2 · answered by SR BODA 3 · 0⤊ 0⤋
It is advisable 4 u to make down payment or cash payment then to get the car on bank loan amount. In case u opt 4 bank loan , u will be required to be involved in unneccessary formalities say like,showing car papers,calculation of EMI , rating score to be given by the bank on the basis of your fianancial position and so on.But if u go 4 cash payment u l be free 4rm al such formalities and will be njoying ur new car.
2006-08-19 07:13:36 · answer #3 · answered by Anonymous · 0⤊ 0⤋
CASH IS ALWAYS BETTER THAN A LOAN
2006-08-18 12:47:34 · answer #4 · answered by JULIE 7 · 0⤊ 0⤋