Car dealers or private sellers provide you a good amount of discount and other offers on the cars. People get confused with the zero interest or no-cost EMIs.
The zero-interest does not provide you any discount it just you are paying a lesser amount of down payment and converting it into monthly payments that do not involve interest amount.
Cash provides you the option to negotiate for a better amount when you are buying a used car.
It’s pretty difficult to put your whole savings in the new car and as it can affect your bank balance in the long run. First of all, buy a car which suits your budget best and if you can manage to buy it on cash that we’ll be the best deal and also you can for some accessories too.
Financing will lead you to pay extra and as well as monthly payments include interest amount too.
People think of buying things and paying for every month as it seems a feasible option for them. It is exactly opposite payment on a monthly basis include the interest amount too which drain your capital in one way or another.
Pay in cash and you don’t have to pay a single penny extra as an interest amount.
It means you will buy what you can afford rather than indulging in the things which you can’t afford and buying things on loan. You will buy things that are important and you have a healthy financial position.