is entirely up to you and your own circumstances. Whether it’s a good idea is highly dependent on your financial situation, your credit, and your threshold for holding debt. Some pros of getting a car loan are:
You don’t have to spend a ton of money upfront
Credit-building
You can get more cars if you don’t have the money upfront
However, there are still cons, including:
You pay interest
You have to pay fees and taxes
You’re locked into a car note each month for years
A car is a depreciating asset
Keep in mind that if you get a car loan, you also have to pay for full coverage
app. We’ll get you personalized quotes from top providers, so that all you need to do is pick the plan that works best for you. And once you pick, we’ll even help you switch!
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.