Incomplete transport offer? Professional constraints? Need comfort? There are many reasons to buy a car, new or used, are many! But despite a very varied offer, buying a vehicle remains an expensive investment. Faced with this situation, many organizations offer solutions to facilitate payment: this is the case for car loans. But should we take advantage of it, or prefer cash payment? Give up your savings or repay a loan? We tell you everything!
Car credit or cash payment?
If you have the financial resources to buy a cash vehicle, taking out a credit seems to be an inconsistent move. Immediate payment has its advantages: no application form to set up and no monthly payments to make, it is the easiest solution for those who want to buy a car quickly and simply.
However, in some cases, it can be very interesting to look at the offers of car credits! When the interest rate is very low, for example, or when the offer allows you to benefit from preferential rates for the insurance of your vehicle.
The case of grouped offers
Once you have chosen the car of your dreams, there is one key step that no one can ignore: insure the vehicle. In the case of a cash payment, the rates are fixed. The approach is quite simple: compare the different offers and choose the one that best meets your needs. By opting for this solution, the proposed rates are stable.
On the other hand, when you take out a car loan, you have a new possibility: to lower the price of your future insurance! If interest rates are low, it can be very interesting to keep your savings and enjoy a profitable loan over the long term.
Purchase of a more economical vehicle
By choosing to pay for a cash car, the purchasing possibilities are limited by the immediate payment capabilities. In this case, as 123automoto reminds us, it is preferable to opt for a used vehicle if you have a tight budget.
However, another option is also very interesting: opting for a vehicle that becomes profitable over time. This is the case with an electric vehicle, for example: more expensive to buy, it becomes advantageous in the long term. By contacting a car credit and taking advantage of the ecological bonus, buying this type of car becomes possible for all budgets. At the end of this larger investment, the savings compared to a thermal car will be real once the initial cost is exceeded!
Keeping your savings
Often, buying a cash vehicle also means drawing from the A passbook. Rather than drying up this source of income, there is also the possibility of taking out a car loan. Because let’s not forget, the car is a passive asset! Your vehicle loses value over time: it is an element of your assets that will not bring you any added value.
If your credit allows you to benefit from preferential rates on your future insurance, it is therefore more profitable to take advantage of it to limit the costs of your vehicle in the long term. This solution allows you to use your savings and invest in a tangible asset!
Depending on your situation, taking out a car loan can therefore be profitable. If the interest rate is very low, and this offers you a discount on your future insurance, it is an option to consider beneficial for the wallet!