Is it better to pay in full or in installments when buying a car?
1 Answers
Whether to pay in full or in installments when buying a car can be chosen based on one's financial situation. Here are the benefits of each: 1. Benefits of paying in full: (1) Buy a suitable car according to your savings, avoiding purchasing a car beyond your financial capacity. For example, if you currently have 200,000 in cash, you might only buy a car worth over 100,000 and still keep some savings; (2) No need to pay various handling fees. 2. Benefits of installment payments: 1. You can enjoy the car in advance. As long as you have sufficient repayment ability, you can choose installment payments; 2. You can buy a better car. If you have 100,000 on hand, paying in full might only allow you to buy a compact domestic or joint-venture car, but if you need a higher-end car, installment payments are a great option; 3. You can use the money you currently have for other investments.