BUYING VS. FINANCING A CAR
BUYING VS. FINANCING A CAR
Posted on June 9, 2023
Benefits of Buying and Financing a Car
If you’re in the market for a reliable vehicle that can fit your budget but aren’t sure if you should buy it outright by paying cash for it or if you should finance the vehicle you want, you’re in the right place. Here, you’ll learn more about the benefits of buying and financing a car, so you can make the most informed decision when it comes time for you to buy. Both financing and buying have their own benefits, so keep reading to find out which one is right for you.
Benefits of Buying a Car with Cash
Below, you’ll learn more about some of the benefits of buying a car, SUV or pickup truck with cash instead of financing it.
- Avoid a monthly payment (no car payment).
- Can get you more discounts in the form of rebates.
- Gives you the upper hand when negotiating a deal.
- Helps prevent you from overspending on the vehicle you want.
- You won’t pay any interest, which saves you money over the long term.
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Benefits of Financing a Car
Learn about the benefits of financing a car and how this option can help you when you buy a car, pickup truck or SUV.
- Allows you to keep your cash in the bank or invest it.
- Can help build your credit and increase your score with borrowers.
- Some of the lowest interest rates can be found on new vehicle loans.
- The higher your down payment is, the smaller your monthly payment will be.
- Allows you to pay a smaller amount every month instead of paying one payment.
Now that you know the difference between buying vs financing a car and each of their benefits, you’ll be able to make a more informed decision when it comes to for you to purchase a vehicle. If you have any questions or are ready to buy, please contact us at Southside Dodge and we’ll be happy to help.
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