What are the advantages of financing a car?

What are the advantages of financing a car vs paying cash? I know that financing a car has its drawbacks.

Answer provided by
Eric Schad
Answered on Jul 01, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
“Financing a vehicle comes with a few benefits as opposed to paying cash for a vehicle. This list might include:
  • Building your credit
  • Improving your budgeting skills
  • Keeping money on hand for an emergency
  • Taking advantage of financing incentives
Keep in mind that you’ll still pay more overall with a new car loan, but it’s not all bad news.”

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