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Post Info TOPIC: Pay cash for car or take a loan?
charischella


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Pay cash for car or take a loan?
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I have about 15000 in the bank. This is all of my savings.

We need a car.

I am wondering if, instead of paying cash for a used car, I should take a loan out for the car and only put a small down payment.

My idea is to then buy a CD or something with about 10000 of the money.

Will the CD pay more interest then I pay on the loan?

Can someone explain how this all works, and if I would be better off in the long run?


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dustinedan2


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Whether you're paying cash, leasing a car or applying for a car loan, Cars.com explains what you need to get the best deal



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