Should You Pay Cash or Finance Your New Car?

Hello Chasers,

When you start the search for a new or second-hand car, the first thing you need to think about is how much you’re going to spend. For the most part, the decision will come down to how much of your own money you’re prepared to spend and how much you’re going to borrow from a lender.

When determining whether you should pay all cash or look to finance the car is always going to be based on your personal situation and there are positives and negatives to both approaches.

PAYING CASH

The biggest advantage of only paying cash is that you will own the car outright. The other benefit is that you won’t have to pay interest and that could save you a substantial amount of money over the lifetime of the loan.

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