Nomad
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Would you buy a car with a loan?
- Thread starter Nomad
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Buying a car with a loan means you have to give interest per month. Finally you have to pay much more amount than original price. So if you can't afford than don't buy but if you can afford then purchase on cash.
Unless I am buying a vehicle that would be used for business to generate money, I would not dare to buy a car with a loan. It is not a tangible asset.
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No, I will never buy a car by a loan because I don't want to take loan for the luxuries. I won't like to pay interest on the car loan. I would prefer to take loan on the house instead of car loan.
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A car is not something that you need to lend to. You would need money to maintain a car. Why would you loan money to buy something that draws money further away from you?
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You can do it if intend to operate a business that requires you a wheel or run a taxi services. For personal use only, it depends on the person.
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I agree when your profession is related to car then there is no harm in taking loan to buy it otherwise not.
Purchasing a car with a loan entails paying monthly interest, ultimately resulting in a total payment significantly higher than the original price.
I will only do that if I have the best way to pay the loan effortlessly. I know a lot of workers buy their cars through car loan in their workplace
Simple cars are not that pricy I'm sure if you have avarage job you can save for jt
Most people in our city take public transportation. Owning a car is a luxury. If I cannot afford a car, I just take public transportation. Definitely not taking a loan to buy one.
As far as l am concerned, l couldn't buy a car with loans. Even for the commercial like taxi that l can do business with l can't afford to acquire that one with a loan.
If the car can help my business, I would not mind taking out a loan. However, I do not think I will do it for personal use. It is not practical.
