PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
Should I finance a $9,000 car if I have $20,000 in savings to pay for it?
Should I pay cash for the car or should I finance all or a portion of the vehicle? I have $20,000 saved up to buy a car. After shopping around, I found the one car I like is only $9,000.
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“This is highly dependent on many factors:
If you can find a 0% interest loan, than financing the vehicle is a no-brainer. You keep all the money you’ve saved and you won’t pay anything extra on interest.
If you want to build credit, financing at least part of a
new car
would make sense. Just put down 50% and get a loan for the remainder.Or you can just pay cash outright if you can’t find a decent loan rate or you don’t need to build credit.”
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
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.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance for Your Car
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
