Question: Is It Smart To Pay Cash For A Used Car?

Question: Is It Smart To Pay Cash For A Used Car?

The common thinking is that buying a car with cash is better than financing because you won’t have to pay interest.

After all, with a cash deal, you pay exactly the price shown and no more.

If you want to spend your cash, that’s great: It means you won’t have a payment or another care about the car’s financing.

Can I pay cash for a new car?

There are a number of ways to pay a dealer for your new vehicle: You can pay the full negotiated purchase price with cash (and the value of any trade-in) and drive away with 100 percent ownership of the car. You can finance the purchase and essentially rent the money to buy the car.

Do you get a better deal paying cash for a car?

The common thinking is that buying a car with cash is better than financing because you won’t have to pay interest. After all, with a cash deal, you pay exactly the price shown and no more. If you want to spend your cash, that’s great: It means you won’t have a payment or another care about the car’s financing.

Do car dealerships take credit cards for down payments?

2. The dealership accepts credit cards. Not all dealerships allow you to make a down payment with a credit card. This is generally because of the merchant fees they have to pay for the transaction.

Photo in the article by “Geograph” https://www.geograph.org.uk/photo/3594603