Is there a downside to paying for a car in cash?
"Is there any reason for me to finance a car instead of paying cash? I found a new car with an asking price of $22k. I have the funds in my savings to buy it outright and cannot really think of a reason why I should finance the car instead of just paying cash for it."
Answer provided by
- you can finance a car out of range of your cash budget
- you can save your cash for an emergency fund
- on time payments can build your credit