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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.

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Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“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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